Heritage Auctions - In 1859 a new hub with a slightly different style on the reverse was introduced for quarter eagles, commonly today called New Reverse or Type Two reverse. The new hub featured shorter arrowheads (most easily perceived as being more distant from ICA) with the top two arrowheads separate, while on the Old Reverse/Type One hub the arrowheads are longer and the top two arrowheads touch.
The Old Reverse style hub was nonetheless carried over and occasionally used on quarter eagles dated 1859, 1860, and 1861 among business strikes, and the Old Reverse quarter eagles of those dates are actively sought and far rarer than the New Reverse pieces, which clearly constituted the majority of the mintage for each year.
The situation is quite different for the proof 1859 quarter eagles. In the first place, the reported proof production of 80 pieces is irrelevant, as most were clearly melted afterward. The majority of the 10 or so known proof survivors are of the Old Reverse style. We are able to account for 10 or 11 survivors, of which only three are of the New Reverse style. Only two of these are available to collectors; the third is in the
American Numismatic Society collection.
Our Long Beach Signature auction features one of the two available New Reverse examples, the Byron Reed specimen, a remarkable piece in several respects. Graded Proof 64 Cameo by NGC, It is a coin of remarkable beauty and overall quality. The strike impression is sharp and nearly full, save for slight softness on the first two or three obverse stars. The Y in LIBERTY is recut. The orange-gold devices are richly frosted, and the sea-green fields are watery and pleasingly reflective.
Posted 05/30/2015 12:32 pm
