NGC -
The date on this supposedly rare quarter shows it was actually crudely altered.To prevent the hoarding of silver amid the California Gold Rush, the Coinage Act of 1853 was enacted to reduce the weight of quarters and other fractional silver coins by about 7%. To indicate the weight change, the US Mint added arrows around the date on the obverse as well as rays around the eagle on the reverse.
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Genuine 1853 Arrows and Rays QuarterThe US Mint struck more than 15 million of these quarters in Philadelphia as well as more than a million in New Orleans. However, earlier in 1853, the US Mint had already struck 44,200 quarters with the previous weight. Many of these Philadelphia issues were subsequently melted, but the survivors (all struck from a single pair of dies with an 1853/53 overdate) have given the numismatic community a fascinating and eagerly sought variety.
1853 No Arrows QuarterAbout Uncirculated examples of the 1853 Arrows and Rays Quarters struck in Philadelphia are worth several hundred dollars. Meanwhile, the No Arrows variety in the same condition commands prices of several thousand dollars. NGC has certified fewer than 60 examples of this rare issue and recently received a purported example in a submission.
Altered QuarterWhen a digit in the coin's date can appear to be rare, with a numismatic premium of hundreds or even thousands of dollars, it is a good idea to closely examine the date. In this case, at the top and bottom of the '3,' note the lack of the expected "ball terminal" — the bulge at the end of the stroke. This digit appears to have been altered from an '8' and not with a great degree of skill.
Close-ups of the altered date (top) and genuine dateAn 1858 Quarter in this condition would have likely cost the counterfeit less than $200 to acquire. In addition, because the rays and arrows were no longer used on 1858 Quarters, it was much easier for the counterfeiter to simply alter a digit in the date of an 1858 Quarter than it would have been to remove the arrows and rays from an 1853 Arrows and Rays Quarter.
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Posted Yesterday 5:04 pm
