Lot 715
1852-O. NGC graded MS-61. Totally white with semi reflective fields. Curiously several new dies for 1852 coinage were sent to New Orleans to make quarters, but most were not used by the end of the year and defaced. Recall that by 1852 the California Gold rush was starting to bring down the price of gold compared to silver, hence silver values rose to where it was profitable to melt silver coins like these quarters in 1852. Production dropped down quickly until 1853 when a reduced silver standard was adopted, and melting was no longer profitable on these later coins. Hence, the mintage of 1852 in New Orleans was low, and all rare today. A scarce coin in mint state. Only 96,000 struck. Pop 1; only 1 example graded finer in 63 at NGC. Estimated Value $7,000 - 7,500
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