1869-S $2.50 MS61 Certification #25312164, PCGS #7810

Garrett and Guth's "Encyclopedia of U.S. Gold Coins" comments, "Quarter eagles from the San Francisco Mint of this era all share common themes - they are usually found well worn and are rare in high grade. The 1869-S is no exception, as most of the coins are found for this year are relatively low grade." David Akers, in his Auction Analysis of 1975 suggested, "Scarce as a date... Most specimens I have seen were very bluntly struck and have relatively little detail on the hair around Liberty's face or on the eagle's right leg and neck... grossly underpriced, particularly in choice condition." He gave the 1869-S quarter eagle an average grade of VF30 although the current graded population suggest a better average would be in the VF45-AU50 range.

Ron Guth

Most (perhaps all) examples of this date utilize an Old Reverse ("Hub of 1840-1858").  Please report any New Reverse examples.

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David Akers (1975/88)

Scarce as a date and very rare above EF. In fact, out of 62 auction appearances in our 226 catalogue auction survey, only 10 pieces were graded AU or Unc. by the cataloguers. Most specimens I have seen were very bluntly struck and have relatively little detail on the hair around liberty's face or on the eagle's right leg and neck. It is probably a hundred times as rare as any late date quarter eagle in unc. and so the 1869-S, like so many other quarter eagles, is grossly undervalued, particularly in choice condition. If you were to go out and attempt to buy a half dozen choice 1869-S quarter eagles, even if price were no object, I feel certain that you would come up far short of your goal.