LOT Heritage Rare Coin Galleries  /  2004 May (CSNS) Signature Sale #346 - Session 4  / 

9122

1856-S $2 1/2 MS65 PCGS. Quarter Eagle

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1856-S $2 1/2 MS65 PCGS. Quarter Eagle
<table><tr><td><table><tr><td>1856-S $2 1/2 MS65 PCGS. Quarter Eagle production commenced at the San Francisco Mint with a paltry delivery of 246 pieces in 1854. The rarity of the 1854-S and the lack of an 1855-S delivery combine to make the 1856-S the first collectible U.S. Quarter Eagle from the California branch mint. Although collectible, the '56-S is anything but common, and even the limited original mintage of 71,120 pieces does not begin to explain the rarity of this date. Judging by current NGC and PCGS population data, the vast majority of survivors are worn to one degree or another. The former grading service has not seen a single example above the MS64 level, while PCGS reports just three coins in MS65 with a lone MS67 (!) specimen finer (03/04). We have reason to suspect, however, that the PCGS listing of three coins in MS65 includes at least one resubmission. Even if it does not and all three entries represent distinct coins, there is no doubt that a Gem BU 1856-S Liberty Quarter Eagle is a rare coin that is the province of advanced gold specialists. Full mint luster shimmers over both sides with a mostly satiny sheen. The color is a rich, original, reddish-gold shade that highlights the uncommon lack of distracting abrasions. Pedigree concerns, nonetheless, do compel us to mention a graze in the right obverse field from star 13, and there is also a shallow planchet void in the reverse field below the TA in STATES that should help trace future auction appearances of this coin. The otherwise sharp strike wanes a little over the eagle's right (facing) leg feathers--a not uncommon feature for the type. The S mintmark is positioned in the field between the lowermost arrow feather, the end of the olive branch, the fraction bar, and the D in the denomination.Ex: Altany Sale (Paramount, 2/1977), lot 592; Harry W. Bass, Jr. Collection (Bowers and Merena, 10/1999), lot 486, where it realized $23,000. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid. <BR><BR><B>IMPORTANT ANNOUNCEMENT ABOUT RESERVES:</B> Heritage now divulges all reserves on its web site 7 days before every auction. If you want to know whether the reserve on this lot has been met, and if not, what the reserve amount is, please visit this lot page on the HeritageCoin.com web site, or email: bid@HeritageGalleries.com </span></font></td></tr></table></td></tr></table>
Sign In to Bookmark Lot