Only 4,320 business strikes were produced and while not as scarce in circulated grades as one might believe, the 1869 quarter eagle is very rare in full Mint State with an estimated six to eight known. This example, which is the only piece graded MS63 that has been approved by CAC, could well be the finest known 1869 quarter eagle. It is semi-proofike but with more than enough frosty within the surfaces to have a business strike-like "look." The surfaces are lightly toned in rich lemon-gold hues and the naked-eye appearance is suggestive of a point higher. There are a few wispy lines on the obverse and a very small, very faint mint-made flake between the final two stars on the obverse. Coins like this are a sort of Final Frontier in 19th century gold collecting: an issue that is not solely a condition rarity, that has claims to finest known status and yet is compellingly priced.