Lot 1385
1860 $2.50 Liberty. Old reverse. PCGS graded MS-62. In PCGS holder 10897669. Well struck with delicate golden-yellow toning that adds to its appeal. Many times rarer than the new hub reverse. On the old-style hub of 1840-58, the lowest arrowhead almost touches CA, and the arrowheads are long; talons closed So scarce was this variety when Breen published his all-encompassing Encyclopedia in 1988 that he described the "Type I" rev. as "Possibly exists." Apparently most 1860 P-mint quarter eagles of both varieties were melted. Pop 3; 4 finer in 64. Only 17 examples graded at PCGS for the variety (PCGS # 97791) .
The 1860 Old Reverse Quarter Eagle lay undiscovered until the 1990s. As such, it is the newest addition to the trio of rare Old Reverse issues from the 1859-1861 era.
Estimated Value $9,000 - 10,000.
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