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Lot 33377

Image Information

Type Coin
Title Lot 33377
Date 1862
Country U.S.
Service Catalog # 85558
Denomination 25C
Description 1862 25C PR68 S Cameo NGC. Even though the Civil War was raging by 1862, it appears that a few more examples of the 1862 proof quarter were actually distributed than of the 1861 issue. But only 550 proofs were struck, and 120 were reportedly melted. Regardless, the business-strike Seated quarters of 1862 saw a sharp downturn compared to the 1861s -- 932,000 of the later date, more than 4.8 million of the earlier. Proofs of 1862 are in high demand, as high-grade business strikes are seldom seen. Seated quarter expert Larry Briggs writes that the 1862 business strikes are more elusive than the 1853 Arrows through 1861 issues, adding that "most were likely melted" during the Civil War. This PR68 S Cameo NGC-certified proof has much in common with the 1861 proof Seated quarter from the Newman Collection, also in the present sale. The two coins are in identical grades, and both are the sole finest numerically graded of their issue at NGC and PCGS combined. Save for the Newman coin, the second-finest at NGC are seven examples in PR67, including two with the Star designation. PCGS has seen six submissions in the PR66 grade level with none finer (10/13). This PR68 S Cameo 1862 quarter even offers a similar appearance to its 1861 counterpart, save that the surfaces show patina that is more pastel-colored, not quite so intense. A silver center on each side is framed by rings of light sky-blue on the obverse, with glints of lavender near the extreme rims. The reverse is also silver-centered, complementing glints of amber patina at the periphery. Like the 1861, it exhibits a full strike throughout both sides. We have already noted not only the quality, but also the consistency, of the coins in the Newman Collection, and that is certainly evident in this run of proof Seated quarters from the 1860s. Their similar obverses and reverses -- uniformly more deeply toned on the obverses -- is near-certain to be the result of decades of careful, meticulous preservation in Wayte Raymond coin albums, much to the coming joy of new generations of collectors. Ex: Eric P. Newman Numismatic Education Society. Realized $55,812.50 . Description courtesy of Heritage Auctions,

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