1866-S $2.50 (1866-S Quarter Eagle) NGC AU58. This fresh, Western branch mint 1866-S Quarter Eagle comes in an old type NGC holder. The coin has an above average obverse strike and strong reverse elements. Despite minor central weakness, the centers of the stars and the highest points of Liberty’s hair are full. The reverse shows bold peripheral details. Subdued mint luster is seen within the devices, especially in protected areas. Sufficient separation between the lines of the hair over Liberty’s eye and between the coronet and hair exists to warrant the grade.

Christian Gobrecht designed the Liberty Head quarter eagle. It was minted from 1840 to 1907, the longest span of any coinage series without any major design modification. In that period of time 11,921,171 Liberty Head quarter eagles were minted.

Gobrecht used the coronet motif for his design. It shows a profile of Liberty facing left. Her hair is tied in the back with beads as two curls flow down her neck. On the coronet the word LIBERTY is inscribed. She is surrounded by thirteen six-pointed stars and the date, which is below the truncation. At the periphery are dentils on both sides of the coin. The reverse shows a heraldic eagle with wings outstretched looking to the left. In its talons it holds the olive branch and arrows, symbols of peace and preparedness. The inscription UNITED STATES OF AMERICA is in an arc around the eagle, interrupted by the wing tips. The denomination written as 2 ½ D. is below, separated from the inscription by dots. The mintmark touches the arrow’s feather and is above the fraction of the denomination.

In 1859 James Longacre, who was now the Mint Chief Engraver, slightly modified the reverse by making the arrowheads smaller and further apart; however, in San Francisco the old reverse was used until 1867. In 1866 it was mandated that the motto IN GOD WE TRUST be added to all coinage large enough to accommodate it. It was decided that the quarter eagle was too small for this modification.

Most coins of this date and mint are available in the XF to AU55 category. The present coin is tied for fourth finest at NGC. It population report shows 20 at AU58 with 7 better. At PCGS there are 7 with 3 better. These numbers do not account for crossovers or resubmissions.