Lot 1217
1862-S. PCGS graded MS-63+ CAC Approved. A wonderful specimen that should be graded even higher, thus a Premium Quality for the grade. Only 8000 minted of which merely 80 examples are estimated to have survived. This specimen is well impressed throughout, and fresh-gold patina adheres to bright surfaces on each side. A few minute contact marks are noted, but do not distract. a memorable piece that will long linger in the mind of anyone who views it.
San Francisco Mint quarter eagles of this era are rare enough in such grades as AU or even MS-60, but at the MS63 level they are so elusive that a span of years may elapse between our offerings of them regardless which date you are considering. Such pieces were not used in large bullion shipments, as $20 pieces were easier to count. Rather, these saw extensive service in everyday commerce. Pop 1, the finest known specimen (PCGS # 7798) .
The date on the obverse is very deeply punched and well centered. On the reverse, the S is barely clear of the arrow feather. The smooth frosted character of both obverse and reverse, together with some original die finish marks, suggests that this must have been retrieved from a bank quite early on. It would be interesting to surmise that this was purchased as a gift by someone who visited the San Francisco Mint, as the annals of mint history reveal that this was the most popular of all denominations for a holiday gift giving (such commentaries relate to the Philadelphia Mint early in the 20th century, but no doubt appropriate to other mints and times).
Historic Note: In 1862, while the Treasury Department was no longer paying out Philadelphia Mint quarter eagles at par due to exigencies of the War economy, on the West Coast, in San Francisco, freshly minted coins were placed directly into commerce. As explained in some detail in the book, The Treasure Ship S.S. Brother Jonathan, the West Coast operated on an entirely different monetary system during the Civil War--with scarcely a Legal Tender note in circulation in San Francisco, but many gold coins in evidence. On the East Coast just the opposite was true: paper money abounded, and silver and gold coins were hoarded, nowhere to be seen.
Estimated Value $25,000 - 30,000.
The William H & Beuelaress K. Helem Collection.
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| Realized $43,700 |
