1864-S 25C MS64 PCGS....

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Near-Gem 1864-S Quarter
One of 20,000 Struck
High Attrition Rate

1864-S 25C MS64 PCGS. In a Coin World article from January 29, 2002, Paul Green analyzed the 1864-S quarter and came to the conclusion that its rarity is based on heavy circulation and lack of a collector base in the West, not merely that only 20,000 pieces were struck.

"San Francisco only made silver and gold coins, but there seemed to be a general feeling in the West that anything other than gold and silver was not really welcome. Apparently, if change of less than five cents was needed, people just compensated with a free donkey ride."

Taken as a whole, there are 96 examples in the combined certified population (6/12), a figure that naturally includes resubmissions. Around the XF grade tier, the 1864-S quarter emerges as a clear condition rarity, and this MS64 is one of a relative handful of "superstar" examples, including the singular MS68 piece certified by NGC.
The surfaces on this piece are bright and sparkling with deeper accents of golden-brown toning in the fields. Overall the strike is strong, but is lacking on the peripheral obverse stars. With only 20,000 pieces struck and a high attrition rate, when a high grade 1864-S such as this one can be located, it is an uncommon opportunity for the dedicated Seated enthusiast to pick up an example. Bid accordingly.
Ex: R.L. Miles Collection (Stack's, 4/1969); Auction '86 (Stack's Session, 7/1986), lot 142; The Nevada Collection of Seated Quarters (Heritage, 9/2008), lot 1533.(Registry values: P7)

Coin Index Numbers: (NGC ID# 23TZ, PCGS# 5460, GSID# 5196)

Metal: 90% Silver, 10% Copper
Weight: 6.22 grams
ASW: 0.17998oz
Melt Value: $5.04
Silver Spot: $28/oz (08-03-2012)
Mintage: 20,000

View Certification Details from PCGS