Estimated number of pieces known:
14-16 (28-32 % of original mintage).
Characteristics: Date high,
of the dime logotype, according to Breen. 1 is closer to
Liberty than to the rim, with the 7 lower as the other numerals,
but touching the truncation of the neck. Later die states
will show a minor die crack through the last two numerals
of the date. Apparently the die cracked during the striking
of the first delivery, as most Proofs known feature this
die crack. Reverse is repolished, but still is the same
die that was used for the first time in 1864. Dentils are
all joined on the obverse, but mostly separated on the reverse,
best noticed on the right side.
Comments: Like the other
Proof quarter eagles that were struck in the 1860s the 1867
is a Proof issue whose reported mintage is irrelevant to
that of the total number of pieces. In fact, the mintage
that has been reported in most major references, 50 pieces,
is disputed by others, who have said numbers which were
almost always lower, from 35 to 45 pieces. While we think
that 50 pieces certainly might have been produced, as other
reported mintages of this era were around that number as
well, it is obvious that either not all were distributed,
or that extreme bad care was taken of them after the mintage.
The 50 pieces are reported to have been struck on two different
days of the year, evenly divided by deliveries on March
5 and July 2.
Despite its rarity, this date is relatively
affordable compared to other dates, like the famous Proof-only
date 1863. However, most interest will be given to that
date, due to its well-known status and popularity since
time of minting. This does not mean that the 1867 Proof
quarter eagle is cheap, or easily acquired. Offerings in
any grade are extremely rare, and will often only be found
once a year, at most. Both PCGS and NGC have graded an abnormal
high number of Proof coins of this date, but at least half
of these appear to be resubmissions in hope of a higher
grade. Perhaps only ten different examples are truly known
that have been certified.
Luckily enough for the collector with a
keen eye for high grade coins, a number of gems and premium
gems have been graded. As explained above, this does not
mean that there are multiple examples known, but we can
safely say that at least four or five 1867 Proof quarter
eagles have been graded gem or higher. The finest of these
is the coin which came out of the collection of Harry W.
Bass. It currently resides in a PCGS PR-67DCAM holder, and
is certainly not rivaled by any other example. One of the
key diagnostic of that coin are the fields, especially on
the reverse, displaying a granular appearance. This a characteristic
that is not very often seen, but are an indication of the
process that was done to prepare the dies for striking.
Between every Proof striking the dies are repolished, and
as this particular reverse die had been in use since 1864
and had struck hundreds of Proof quarter eagles, the reason
for this appearance is easily explained.
