In my opinion, Gem quality small denomination gold from the 1850's is one of the more undervalued areas of American numismatics. It is not exactly plentiful but on the few occasions when a coin like an MS65 1856 quarter eagle is available, prices seem very reasonable to me. This is among the nicer examples of this date that I have seen or owned with glowing frosty luster covered with a touch of light rose color. There are no marks of note on the surfaces, the strike is excellent and there is a "freshness" about this coin that would be hard to improve upon. My best guess is that there are no more than a half dozen real Gem 1856 quarter eagles known and the last to sell was Heritage 12/09: 1540 which brought $7,475.