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1853 25C Arrows and Rays MS67 NGC....
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Description
Brilliant 1853 Arrows and Rays Quarter
A Spectacular MS67 Example
1853 25C Arrows and Rays MS67 NGC. For several years leading
up to 1853 U.S. silver coins were worth more melted than in their
coined form. This was good for bullion dealers at the time as it
provided them with an "endless chain" of profit. However, it was
distinctly bad for other commercial interests and common people who
needed small denomination coinage to make change in their everyday
transactions. For commercial usage in the early part of 1853,
quarters were best suited by default as half dimes and dimes were
too cumbersome to pay off debts and half dollars were not struck
until May 21. As a result, after the Act of February 21, 1853 was
passed to remedy the situation, the Mint was closed to visitors and
the coinage of copper was suspended. By the middle of April the
Director was able to offer coins for sale, and in the first few
weeks only quarters were sold as they bridged the gap between the
three cent silver and the gold dollar.These new quarters weighed 96 grains, compared to the former 103 1/8 grain weight. To denote the reduction in weight arrowheads were placed on each side of the date and rays were placed around the reverse. This design format lasted only one year, with a reminder of the reduced weight carried on through 1855 with arrowheads only. More than 15 million quarters were struck of the Arrows and Rays design and they were a smashing success. One Philadelphia paper reported that the Mint had "fully overcome the complaint among the small dealers of a want of change." The new coins served their purpose excellently. For the first time since the establishment of the Mint in 1793 the nation had an adequate supply of fractional coins of uniform quality.
This particular piece is one of the finest examples extant of this one-year type. All too often found with heavily toned surfaces, this is a brilliant coin with silky-smooth, satin-like mint luster. Fully struck throughout, each side is nearly abrasion-free. Both obverse and reverse display a granular texture around the margins from metal flow in those areas. Population: 3 in 67, 0 finer (11/09).
From The Five Point Collection.(Registry values: P5)
Coin Index Numbers: (NGC ID# 23U4, PCGS# 5426, GSID# 5124)
Metal: 90% Silver, 10% Copper
Weight: 6.22 grams
ASW: 0.17998oz
Mintage: 15,210,020
View all of [The Five Point Collection ]
Auction Info
2010 January Orlando, FL FUN US Coin Auction #1136 (go to Auction Home page)
Auction Dates
January, 2010
6th-10th
Wednesday-Sunday
Bids + Registered Phone Bidders: 19
Lot Tracking Activity: N/A
Page Views: 1,266
Buyer's Premium per Lot:
15% of the successful bid per lot.
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