1868 Liberty Seated Quarter. Briggs 1-A. MS-66+ (PCGS). CAC.，This beautiful premium Gem should be seen to be fully appreciated. Both sides exhibit vivid target toning with the boldest colors at the peripheries. A full strike has resulted in exceptional definition from the rims to the centers, complemented by fully satin luster. This coins technical merit and eye appeal are unmatched among all survivors of this issue and it would be perfect for an advanced type set or specialized collection of Liberty Seated coinage.<p>The exquisite MS-66+ offered here is the finest certified survivor from the 1868 issue and is likely also the finest in existence. It is certainly worthy of the strongest bids, having been eagerly pursued by bidders at every auction appearance in recent memory. Its appearance in Heritages FUN Auction of January 2010 drew an incredible winning bid of $69,000, followed by an equally strong price realized of $61,687 as part of Heritages sale of the legendary Eugene H. Gardner Collection in June 2014. This penchant for garnering multiples of what similar Gems are earning clearly speaks to the exceptional eye appeal and preservation of the present, magnificent example. <p>The 1868 quarter has a mintage of 29,400 circulation strikes. Survivors are scarce to rare in any grade, and even worn coins are seldom seen. Writing in the 1991 reference <em>The Comprehensive Encyclopedia of United States Liberty Seated Quarters</em>, Larry Briggs assigns Mint State examples an impressive Rarity-5+ rating. <p>The history of the circulation strike 1868 quarter begins with the outbreak of the Civil War in 1861. By early the following year Confederate victories at the First Battle of Bull Run/First Manassas and elsewhere had shaken the confidence of Northerners who had anticipated a quick victory over the South. Economic uncertainty resulted and the public in the North hoarded gold and silver, their place in commerce taken by Legal Tender Notes that were not redeemable at par with these coins. With little bullion on hand for coinage, circulation strike mintages at the Philadelphia Mint plummeted. In 1862 only 932,000 quarters were struck as opposed to 4,853,600 examples for the 1861. In the final year of the War, 1865, the Philadelphia Mint struck only 58,800 circulation strike quarters.<p>When the Civil War finally ended in April 1865 many in the North thought that hoarding would cease and silver coins, at least, would return to active circulation. This did not happen, however, and yearly circulation strike production remained low through much of the Reconstruction Era. Only after April 20, 1876, when Legal Tender Notes and silver coins became exchangeable at par, did the latter finally come out of hiding and return to active circulation.，PCGS# 5472. NGC ID: 23UF.，PCGS Population: 1; 0 finer.，From Heritages FUN Auction of January 2010, lot 2515, where it realized $69,000; Heritages sale of the Eugene H. Gardner Collection, June 2014, lot 30387, where it realized $61,687.50.
