Beautiful satin surfaces are lustrous and vibrant, with iridescent olive-orange and reddish-gold peripheral toning. The centers are close to brilliant, although a good light source reveals light toning of delightful pinkish-silver. The strike is equally sharp from the rims to the centers, and the surfaces are virtually pristine. It is difficult to imagine a more attractive and desirable example of this early San Francisco Mint Liberty Seated quarter issue and, indeed, none exists. The 1871-S is an extremely underrated coin in a series that is replete with scarce and rare issues, many of which are particularly challenging even in lower Mint State grades. The original mintage was 30,900 pieces at a time when San Francisco Mint silver coins were struck for one purpose: to circulate. And circulate this issue did, for survivors are elusive in all grades and, when encountered, are apt to be heavily worn, often with damage or other impairments. The 1871-S is actually nearly as rare in all grades as the more highly regarded 1871-CC, this despite the fact that the Carson City Mint issue has a mintage one third that of its San Francisco Mint counterpart (10,890 pieces). As more collectors begin to appreciate the elusive and conditionally challenging nature of early S-mint silver coinage, with some even rising to the challenge of assembling a complete set of Liberty Seated quarters, coins like this phenomenal Gem Mint State 1871-S are sure to increase dramatically in desirability. Tied with only one other PCGS/CAC MS-66 (the Stellar-Gardner specimen) as the finest certified 1871-S quarter, it is a highly significant rarity that would serve as a centerpiece in any advanced numismatic holding. ， Provenance: From our August 2012 Philadelphia ANA Rarities Night Auction, lot 11350. Est. $20,000-$35,000
