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Lot: 1887
Auction: 1116
1883 25C PR68 Cameo NGC. CAC....
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Sold for: Sign-in or Join (free & quick) (includes BP) Bid Source: HA.com/Live
Ended: Sep 17, 2008
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Auction Name: 2008 September Long Beach, CA US Coin Signature Auction #1116
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 6 Internet/mail bidders, 338 page views

Description
1883 25C PR68 Cameo NGC. CAC. Business strike mintage of quarters in 1883 was a minuscule 14,400 pieces. Treasury vaults were bursting with hoards of minor silver coins that had returned to the United States from offshore havens where they had been secreted during the Civil War. The unexpected influx of those minor coins, together with large mintages during the 1870s, completely satisfied public demand for the coins in everyday commerce. Treasury Secretary John Sherman, in accordance with the Mint Act of 1873, halted production of minor coinage early in 1878. For the next decade, the Mint adhered to a policy of small mintages of quarters and half dollars. All available resources were concentrated on production of Morgan silver dollars.
Fortunately, numismatic demand for quarters and half dollars continued unabated, and the Mint produced proof coins in numbers large enough to satisfy collector demand. The result of this policy was a mintage of 1,039 proof quarters in 1883. Only one die combination was needed to produce the entire mintage. In 1991 Seated quarter specialist Larry Briggs detected the remains of a blundered date in the 1883 obverse proof die. The tops of the numerals 83 can be seen in the dentils below 88 in the date. This is an important distinction; business strikes use the same reverse die, and early strikes have prooflike surfaces that can be mistaken for genuine proofs.
The present coin is a magnificent example of this scarce issue. Brightly reflective fields show through delicate shades of green toning, with an accent of cerulean blue at the rims. The strike is impeccable on both sides, with sharp cameo contrast between the field and devices. Virtually perfect surfaces complement the beautiful toning to yield outstanding eye appeal. A great prize for the Seated Liberty Seated specialist.(Registry values: P1) (#85584)



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 422, Lot 917 Saturday, January 6, 2007 68 PCGS $35,937.50
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