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Obverse of 1869 Quarter Eagle     Reverse of 1869 Quarter Eagle


1869 $2-1/2 DOLLARS
OR QUARTER EAGLE

PCGS Nos: 7809, 7895

Mintage:

Circulation strikes: 4,320
Proofs: 25

Designer: Christian Gobrecht

Diameter: 18 millimeters

Metal content:
Gold - 90%
Other - 10%

Weight: 64.5 grains (4.2 grams)

Edge: Reeded

Mintmark: None (for Philadelphia, PA) below the eagle on the reverse

Images courtesy of Ira & Larry Goldberg Coins & Collectibles, Inc.

Significant examples:

Recent appearances:
NGC Proof-65 Cameo.  Ex - Bowers and Merena Galleries' Robert W. Schwan Collection Sale, October 26-27, 2000, Lot 2171 at $18,975.00

NGC Proof-63 (illustrated above).  Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s "The California Sale", October 2-3, 2000, Lot 683 at $6,037.00, where it was described (in part) as follows: "The surfaces show minor handling marks when scrutinized with a glass in the delicate mirror fields. The diagnostic line by the L of LIBERTY is present, and the reverse shows several raised die lines from the polishing process used to create the mirror reflectivity. The coin has a cloudy toned appearance (as seen on the Garrett example), which softens the glaring mirror fields, and produces a special appeal in the surfaces. The reverse die has several die file marks, which are seen on regular issue coins, so it is possible that this is a regular issue, and not a proof. If that is the case, then the coin would actually be worth more. The date logotype punch is high, with the 1 nearly touching the truncation, diagnostic to regular issues, while the proof date logotype is supposed to be low in the die. Perhaps only a single pair of dies was used for both proofs and regular issue coins. Either way, this is a beautiful example of the date. Mintage for business strikes, just 4,320.  It is remarkable that only 25 were struck in Proof, of those a few entered circulation, but most were probably saved. The combined NGC and PCGS Population Reports show that 30 coins have been graded, obviously some crossovers and resubmittals are included. We point this out to show how over time the Population Reports are becoming less and less reliable. Many coins that are close to a higher grade are sent in several times in hopes of achieving the higher grade, and hence more value. It is apparent that a few Proof 64 pieces have been sent in multiple times to hope to achieve the coveted Proof 65 grade, for instance, NGC has graded 12 in Proof 64, and PCGS has graded 8 coins in that grade. Each service, however, have only graded a single coin in Proof 65."

AU-58.  Ex - Bowers and Merena Galleries, "The Harry W. Bass, Jr. Collection, Part IV Sale", November 20-21, 2000, Lot 226, illustrated, sold for $1,955.00  From Stack's sale of the Scanlon Collection, October 1973, Lot 2100

ANACS Net EF-40, AU Details, Cleaned.  Ex - Heritage Numismatic Auctions, Inc.'s, "Summer 2001 Long Beach Signature Sale", May 31-June 2, 2001, Lot 8867, not plated, unsold

Notes:
The finest Uncirculated example graded by PCGS is a single MS-63.

The finest Proof example graded by PCGS is a single PR-66.

Sources and/or recommended reading:
"Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins" by Walter Breen

"The PCGS Population Report, April 2003" by The Professional Coin Grading Service

 
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