1864 $2 1/2 MS60 NGC....

Description

1864 Quarter Eagle, MS60
Only 2,772 Pieces Struck
Remarkably Rare Issue in Mint State

1864 $2 1/2 MS60 NGC. By most measures, the 1864 quarter eagle is one of the four rarest circulation strikes within the Liberty Head series, joining the extremely low-mintage 1854-S and 1856-D dates in that regard. Some will argue that the enigmatic 1841 date deserves a mention here, too, although there is no Mint record of any circulation strikes being issued.

Among those four issues, the 1864 date has yet to reach its full due, with a reported 2,772-piece mintage out of balance with the number of confirmed specimens that exist. Fewer than two dozen 1864 examples are confirmed in all grades, with only four certified Mint State pieces certified and the remaining examples in lesser grades. Many of those coins are impaired with mounts removed, filed rims, or prominent scratches.

The 1864 circulation strike is perhaps the ultimate sleeper within the long-running Liberty quarter eagle series. Most researchers believe nearly the entire business strike mintage was melted. Essentially no 1864 quarter eagles circulated during the final Civil War years nor to any extent afterward. The 1864 proof mintage was 50 coins and most highly graded 1864s come from that proof mintage. Luckily, it is easy to differentiate proofs and circulation strikes by the date position -- proofs show the date further left toward Liberty's bust point, appearing to be slightly higher in the exergue. The circulation strikes have the date about centered and positioned further right, visually lower than the proofs. Liberty's ear is filled on the non-proofs.

The present coin is the finest 1864 circulation strike Heritage has handled. The fields are smooth and semireflective surrounding sharply struck devices, with soft mint luster glowing from the medium green-gold surfaces. Magnification reveals a few widely scattered light abrasions and faint hairlines, plus a curlicue lint mark at the base of Liberty's neck. Eye appeal exceeds that of all 1864 examples we have seen, a coin clearly deserving its Mint State designation. NGC Census: 1 in 60, 2 finer (12/25).(Registry values: P2)

Coin Index Numbers: (NGC ID# 25K4, PCGS# 7800, Greysheet# 8288)

Weight: 4.18 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from NGC