Heritage Auctions' three-day US Coins Signature Auction (September 6-9) saw a rare 1853 proof Arrows and Rays quarter lead, after selling with excellent results on the first day of the sale.
 Any proof coin from before 1858 in a rarity in US collecting |
The spectacular piece came as an early highlight to the auction, selling for an impressive $94,000 on September 6. No other coin was able to match these results, making the 1853 rarity top lot of the entire sale.
Any proof coin, regardless of denomination, that was struck before 1858 is considered rare in US collecting. The 1853 Arrows and Rays quarter is especially scarce as one of a total of five proofs recorded in Walter Breen's Proof Encyclopedia.
The example at auction's appeal was heightened for collectors as it originated from the illustrious Louis E Eliasberg Collection and has been NGC-rated MS-64.
The 1853 proof 25c is considered the most important of the Seated Liberty quarters. Both the 1853 and 1854 quarters are often collected as a single type, but are in fact two different sub-types, given that the 1854 coin lacks the rays at the reverse.
Following closely behind this was a spectacular and possibly unique 1854 Liberty Head eagle, which is the first of its kind to be certified as a proof.
According to Garren and Guth's Gold Coin Encyclopaedia, a set of proof coins was presented to the city of Bremen, Germany in July 1854, presumably in exchange for Bremen coins. While numerous proofs of the $1, $2.50 and $3 coins are recorded, none can be attributed to that set and none of the half eagles, eagles or double eagles have ever been seen.
No provenance information for the coin was found by Heritage Auctions, although it is the only NGC and PCGS graded proof example. An incredible rarity, which could unlock the mystery surrounding the 1854 proofs, it sold for $88,125.
Paul Fraser Collectibles brings you all the latest news from US and world coin collecting. Sign up to our free weekly newsletter for a round-up of the week's top articles, as well as some exclusive investment advice. We also have a superb selection of investment-grade rare coins available in our online store.
