This numismatically significant issue represents the very first quarter eagle struck with the new Liberty Head design at the Philadelphia mint. The 1840 was not saved in any quantity and it is seldom seen above EF45 to AU50. In fact, until the discovery of a small group of MS63 to MS64 examples in the mid-1990's, the 1840 quarter eagle was essentially unavailable in Uncirculated (with the exception of the Bass-Garrett example which is now in a PCGS MS64 holder). The present example is fresh and would grade at least a point or two higher if it were not for some weakness of strike which is fairly pronounced at the centers. The surfaces are slightly scuffy but have warm, rich golden-orange and greenish color which are indicative of this piece never having been dipped or lightened. It would be an interesting to combine this coin with a high grade 1840 half eagle and eagle and assemble a three piece "first year of issue" Liberty Head gold trio.