1875 $2.50, DC PR 65+ DC

Description

The 1875 quarter eagle is a legendary rarity in the 19th century U.S. gold series. Collectors interested in the Coronet series are well aware of this date's rarity, whether as a circulation strike or a proof. Only 400 business strikes were produced plus another 20 proofs. Survivors in both formats are predictably low. Probably two dozen or more business strikes are extant today, a number greater than most estimates, but we know one collector who hoarded this date and 23 years ago had 18 pieces. Proofs are another matter and probably only 16 or so examples are believed extant today, including one held in the Smithsonian Institution and another in the ANS. With only 400 circulation strikes minted, all are essentially first strikes and almost all high-grade examples retain significant die polish in the fields and many resemble proofs. Confusion between business strikes and proofs was a problem years ago, but today diagnostics are known for each and prooflike circulation strikes are no longer called proofs and dull proofs are not confused with business strikes. On proof strikings the date is higher than on business strikes and the 5 nearly touches the bust. Each side of this magnificent rarity shows intense golden reflection. The surfaces are virtually perfect to the naked eye. The sharply detailed, frosty design elements contrast profoundly with the deeply mirrored fields to create an intense cameo effect. While several high-grade proofs are known of the 1875 quarter eagle, they are infrequently offered at public auction. This particular coin was in a private collection for several decades and it is relatively unknown to the present generation of rare gold collectors. This is a rare opportunity to acquire one of the classics in the proof quarter eagle series