A lovely Gem, untoned apart from subtle champagne-apricot peripheral highlights and, at the upper and lower obverse borders, a few swirls of bolder russet patina. Silky smooth surfaces are awash in billowy satin luster that is as fresh and inviting as the day the coin emerged from the dies. Sharply, if not fully struck over most design elements, this is an exquisite example that nearly defies belief in an 1866-S quarter.The premier San Francisco Mint Liberty Seated quarter of the Motto type, the 1866-S mirrors most other early S-mint issues of this denomination in terms of mintage, absolute and condition rarity. Only 28,000 coins were struck, and the rigors of circulation in the American West claimed many of these pieces. Even low grade survivors are scarce, as evidenced by Larry Briggs Rarity-4+ rating for Good and VG survivors (<em>The Comprehensive Encyclopedia of United States Liberty Seated Quarters</em>, 1991). Mint State survivors are the stuff of legend as far as most collectors are concerned, for they are so rare that many numismatists will never see one, let alone have the opportunity to acquire an example. Briggs Rarity-7 assessment for Uncs makes it clear -- the 1866-S quarter is a major condition rarity with very few pieces extant. These high grade coins survived almost purely as a mater of chance, there being no contemporary numismatic interest in mintmarked coinage at the time the 1866-S was produced, especially on the West Coast. As the single finest example certified at PCGS and NGC, this premium quality Gem will define the significance of any Liberty Seated coinage collection in which it is included.,,PCGS# 5469.,PCGS Population: just 1; 0 finer.,From Heritages sale of the Silbermunzen Collection, May 2008, lot 321.
