Old Holder.

The pre-Civil War quarter eagles from this mint all have low survival rates and it is estimated that less than 100 examples of the 1859-S exist from an original mintage of 15,200. Most are found in the EF40 to AU50 range and I know of just five or six in Uncirculated , the finest of which is a single MS65 graded by PCGS.

This conservatively graded example is housed in an old NGC holder and it was likely encapsulated over 20 years ago. It shows glowing natural light rose-gold color and it is very frosty on the obverse; the reverse is a bit reflective. The detail on both sides is excellent with just a touch of weakness at the very center. A few light marks narrowly limit the grade but this coin is closer to MS64 than it is MS63.

There are just three APR’s for the 1859-S quarter eagle in MS63 since 1995 (all graded by PCGS) with the last of these bringing $17,250 as Heritage 8/07: 1843. A PCGS MS64 brought $23,100 all the way back in 1996.

Years may pass before a comparable 1859-S quarter eagle is offered for sale. A very important coin for the specialist.

CAC has approved one coin in this grade with none finer.