1861-S $2.50 PCGS AU58 CAC

Unlike its quarter eagle counterpart from Philadelphia, this Civil War issue has a low original mintage and a small survival rate. Only 24,000 were struck and most of the remaining pieces show considerable wear from heavy use in local commerce. This date is quite rare in properly graded AU58 and it is extremely rare in Mint State with no more than three or four known. This is a pleasing "slider" with nearly full luster seen below rich rose and orange hues which are deeper on the reverse than on the obverse. The strike is sharp with nearly full leg feathers on the eagle and only a few small ticks in the fields can be seen with the naked eye. The last PCGS AU58 1861-S quarter eagle to sell at auction was Heritage 11/03: 7235 that sold for $4,830 nearly a decade ago. Since 1999, there have been only seven APR's for AU58's of this date. After years of neglect, coins such as this are finally getting the acclaim they deserve but I feel they are still undervalued.

This is currently the only 1861-S quarter eagle in any grade to have been approved by CAC.