1894 $2.50 Liberty Head Quarter Eagle NGC PR63DCAM (CAC)

CAC Bid/Ask price is $8,700/$10,900.

The production of business strike 1894 quarter eagles dropped significantly from 30,000 pieces in 1893 to 4,000 in 1894. The proof production was a moderate 122 coins, but collectors desiring an 1894 example may opt for a stunning proof instead of an elusive business strike. 

It is approximated that around 50 to 70 of the 122 proof quarter eagles of 1894 exist today, a relatively large number of which have been impaired. Jeff Garrett and Ron Guth (2006) write: "About 25% of the coins seen at auction today have been mishandled. For some reason, many of the Proof 1894 quarter eagles entered circulation briefly."

This Deep Cameo specimen presents dramatic contrast between the fields and devices. NGC has graded 2 as PF63UCAM with 25 finer. In CAC, there is one in PF63UCAM with 16 finer.

The Second Philadelphia Mint, where this rare piece was struck in 1894. Photo: Wikimedia Commons.