1854-O Seated Liberty Quarter. Arrows, huge O. PCGS graded AU-55 CAC PQ. In special PCGS Ship of Gold holder which contains One Pinch of Gold Dust recovered from the S.S. Central America treasure.<BR>Special PCGS number 771778.55/37278686. A very rare Red Book Variety. Mostly untoned and well struck with considerable mint luster remaining in the fields. After viewing this coin, the cataloger believes that it should be graded Mint State as there is no wear on the high points, just some minor softness on the uppermost design elements. It is believed that this reverse arrived in New Orleans but the Philadelphia Mint had forgotten to put on the New Orleans "O" mintmark, so the engraver in New Orleans hand engraved the "O" which came out too large and oblong. The reverse die failed quickly as it was likely annealed before leaving Philadelphia, and re-heating an annealed die always ends in die cracks and failure quite soon. Notice the parallel cracks to the left of the mintmark, signs of eventual failure. An important and historic offering. Pop 2; only 2 examples graded higher in 58 for regular issues. After reviewing this coin we feel it should be regraded to AU-58. <DOTLEADER> Estimated Value $15,000 - UP <I><BR>Ex S.S. Central America, 2014 Recovery from Pursers Safe.</I>
