SCARCE PCGS/CAC MS62 1861 OLD REVERSE QUARTER EAGLE

Old Reverse; designated by PCGS.

Varieties of 1861 quarter eagle are known with a Type One or "old" reverse and a Type Two or "new reverse." The Old Reverse variety is significantly scarcer and there are likely no more than 100-150 known with most in the EF45-AU55 range. The finest known is a single PCGS MS66 which sold for $15,000 back in 2004.

This is an uncommonly nice coin for the date and grade with no luster breaks and better than average detail for the variety. The luster is frosty in texture and both the obverse and reverse are overlaid with natural russet-gold color. The grade is limited by some light, shallow marks on either side. This is one of the few Uncirculated 1861 Type One quarter eagles I have seen which has not been dipped.

This is the last PCGS/CAC example of this variety in MS62 to sell at auction; see below for the pedigree.

This underrated variety is challenging in grades higher than MS62 to MS63 and this specific example should satisfy most specialists.

CAC has approved three in this grade with eight finer.

Ex Heritage 1/14: 6452 where it brought $4,700.

From the HandH Collection.