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Lot 33369

Image Information

Type Coin
Title Lot 33369
Date 1853/53
Country U.S.
Service Catalog # 5421
Denomination 25C
Description 1853/53 25C No Arrows MS67 NGC. FS-301. CAC. By 1853 there was an acute shortage of circulating silver in the United States. The continued devaluation of gold in comparison to silver, due to the California Gold Rush of 1849, had reached crisis proportions. The mining of new supplies of the yellow metal from California reached a peak in 1853. The new gold dollars, introduced in 1849, were ubiquitous and quite popular, and the Mint set a production record in their coinage in 1853, as substitutes for the virtually nonexistent circulating silver. However, one dollar was a considerable amount of money at that time; for smaller amounts, there was no adequate medium of exchange, save for copper cents and half cents and the three cent silver, introduced in 1851 with net 750 fine (75% silver/25% copper) content. In February 1853, all silver coinage (except for the silver dollar and the subsidiary three cent silver) saw their net silver content reduced, signified by arrows and rays on the quarters and half dollars of later 1853, and by arrows (only) at the date on half dimes and dimes. The U.S. Mint apparently used only a single die to strike all of the non-Arrows and Rays 1853-dated Seated quarters, and today they are quite rare, although generally in high grades when encountered (these coins did not have time to circulate before the lower-content silver coinage appeared). Only 44,200 quarters were struck, all of which show repunching on both the 5 and the 3. (The issue is sufficiently rare that counterfeits made by altering 1858-dated quarters are known, but the 5 on the 1858 is upright, where it is slanted on the 1853. Obviously, the weight is different as well, and there is no repunching visible on the bogus 1858s.) The Newman Collection example certified MS67 by NGC, is a coin of memorable quality and impressive eye appeal. There is a second, slightly lower flag visible beneath the final flag of the 5, and there are remnants of the top loop of the first 3 visible beneath and outside the top loop of the final 3. Concentric iridescent toning appears on each side, with amber, sage, ice-blue, and deep russet predominating. The strike is full throughout both sides, and there are simply no marks or other impairments that detract from the incredible quality. Census: 3 in 67, 1 finer (10/13). Ex: Eric P. Newman Numismatic Education Society. Realized $30,550.00 . Description courtesy of Heritage Auctions,

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