1892-S 25C AU58 Certification #34445528, PCGS #5603

BEAUTIFUL EXAMPLE OF THIS TYPE 2 REVERSE. THE ORIGINAL HOLDER WAS ANACS GRADED MS61. OUR FRIENDS DECIDED IT WASN'T WORTHY OF THAT AND CALLED IT AU58 AT THE CROSSOVER. MY OPINION IS THEY ARE BOTH WRONG. THIS IS THE PREFECT EXAMPLE OF BUY THE COIN NOT THE HOLDER. TONING IS A RICH GUN METAL BLUE ON BOTH SIDES. THE POINT OF THE START ABOVE THE EAGLES HEAD POINTS DOWN! Phenomenal 1892-S Barber Quarter MS66 1892-S 25C MS66 PCGS. Type Two Reverse. Apparently, because of its status as a first-year issue of the new Barber design, the 1892 Philadelphia quarter was saved in large numbers. With more than 1,000 Mint State pieces at PCGS alone, the '92-P is sometimes offered in grades as high as MS68. The 1892-O issue has a much smaller mintage, but it shows more than 500 Mint State pieces at NGC and PCGS combined. The 1892-S, however, is a different story altogether. NGC has graded only 60 Mint State specimens, with another 70 pieces at PCGS. This coin is among the eight highest graded examples at PCGS, save for one lone MS67 example; two coins at NGC are certified MS67 (6/06). As a further benchmark, our recent auction of the fabulous John C. Hugon Collection contained an MS66 1892-S, equal in grade to the present piece. Beneath the light, irregular gray-gold patina, with a dollop of russet, sunset-orange, and aquamarine on the reverse, the surfaces offer some prooflikeness and considerable cameo contrast with the well-frosted devices. This piece appears to be an early strike from fresh dies, and it shows none of the often-seen weakness at the upper right shield corner. Indeed, the strike is bold throughout. It appears that some tiny abrasions near the jawline are the only mentionable distraction, in whose absence this phenomenal coin might vie for an MS67 grade. (Registry values: N4719) (NGC ID# 23XV, PCGS# 5603)

Ron Guth

All 1892-S Quarter Dollars have the mintmark centered on the reverse between the eagle's tail and the R of QUARTER.  Apparently, this position was too tight and led to die chipping, thus the mintmark was moved further to the right on later S-Mint issues.

Sources and/or recommended reading:
"Those Shifty Mintmarks" by David Lange, The Numismatist, September 2010, pp. 21-22