NNP

1853 25C Arrows and Rays MS64 NGC. CAC. The imbalance in gold and silver brought about by the California Gold Rush meant that silver coinage in the early 1850s ceased to circulate. The Mint's reduction in silver content for the silver half dime, dime, quarter, and half dollar denominations in 1853 solved the problem. During 1853, the mints in Philadelphia and New Orleans made a prodigious quantity, just about 50 million silver coins, bearing the Arrows and Rays design on the two larger denominations. The mintage of the 1853 Arrows and Rays quarters alone was an enormous production exceeding 15 million coins, more than the previous 15 years' output of quarters combined. However, there was enormous pent-up demand for silver coinage in America's commercial channels. As a consequence, most of the quarters produced in 1853 circulated extensively with relatively few known in the better grades of Uncirculated. The obverse of this piece is lightly toned at the center with iridescent rings of color around the margin. The reverse has an untoned center with peripheral bands of russet and blue. The strike details are strong throughout. The mint luster is softly frosted and enlivens the surfaces. Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp and Coin Co.; Eric P. Newman; Eric P. Newman Numismatic Education Society.

Heritage Newman IX, November 2017, lot 15088, realized $10200. Images and description courtesy of Heritage Auctions.