1875 $2.50 NGC PR65 UCAM

One of only 20 Proofs struck. Unlike the other low mintage Proof quarter eagles of this era, the 1875 is a rarity in business strike format as well with a mintage of just 400. In Proof, there are an estimated dozen or so 1875 quarter eagles of which maybe four or five Gems are known. The present example has the strongest cameo contrast that I have seen on a Proof of this date and it certainly deserves to have received the Ultra Cameo modifier. It has extremely stark black and white contrast between the devices and the fields and the visual impact is really quite stunning. There are no significant hairlines or lintmarks; a small spot on the obverse serves as quick identification. In Heritage's January 2011 sale of the Miller Collection, there were two Proofs of this date that were graded many years ago as PR64 by NGC but both seemingly were destined to upgrade to PR65 by today's standards; they realized $46,000 and $47,294, respectively. This is one of just two graded PR65 Ultra Cameo by NGC and it is amongst the finest known examples of one of the the rarest single dates in the Liberty Head quarter eagle series. Many people do not realize this, but a Gem Proof 1875 quarter eagle is rarer than the legendary Three Dollar gold piece of this date and the latter is a $250,000+ coin in Gem Proof.

Ex Heritage 9/08: 3351 where it sold for $48,875