Lot 1508
1860-C $2.50 Liberty. NGC graded MS-62. Only 7,469 coins struck. Untoned and an excellent strike for this Mint with extremely attractive, choice surfaces. Among the finest known. Identifiable by a small recessed area in the planchet below the hair bun. NGC serial number 1293449-039. Pop 3; 2 finer in 63 (PCGS # 7792) .
This is the year Lincoln was elected President. This is also the year Congress passed the Morrill Tariff, an act that had the Southern states not seceded from the Union, would have caused a dramatic shift in resources from the South to the Northern industries. The tariff is one of the chief causes of the rupture between North and South, with South Carolina leading off by seceeding in December 1860. A panicky situation soon developed as tensions rose and gold bullion depositors held back their deposits. The Southern branch mints in particular saw reduced coinage, and then the year after this 1860 quarter eagle was minted, all gold coin production ceased in Charlotte, Dahlonega, and New Orleans. The Charlotte Mint was destined never to reopen.
Estimated Value $20,000 - 22,000.
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