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Prior to 2013 and the advent of the Eric P Newman collection, a trio of MS65 coins (one graded by NGC, two by PCGS) stood together at the top of the combined census. The Eric P. Newman Numismatic Education Society possessed a superbly toned NGC MS66* which thentook the crown as Fienst Known. It realized $35,250 in 2013 and was acquired by avid (but since deceased) collector Eugene Gardner.
The "Drapery" 1840 Seated Quarter is an important Red Book issue as it represents the first year for the Type and thus enjoys greater demand than other issues. The present example last appeared for sale by Heritage in 2009 and was described as "...1840 25C MS65 NGC. This issue begins a decade of P-mint Seated quarters that are relatively common in circulated grades but difficult to obtain in Mint State. This is a Condition Census coin that shows silver-white surfaces with moderately prooflike fields. There are numerous die striations in the fields, and the devices are boldly struck throughout. Almost mark-free and one of only three examples to receive an MS65 grade between both NGC and PCGS, with none finer (3/09). From The Joseph C. Thomas Collection."
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