1862/1 Quarter Eagle (1862/1 $2.50) PCGS MS61. This lustrous example of a fantastic Civil War era Quarter Eagle features the 1862/1overdate, which can be plainly identified under low magnification. It is possible that the U.S Mints frugality during the Civil War affected the Mint Die Shop, thus accounting for the overdate. The silver three cent series is also affected with the 1862/1 overdate. In Walter Breens 1988 Complete Encyclopedia of U.S and Colonial Coins, Breen explains that Possibly 12 known, none Uncirculated.

More examples of the overdate have come to light in the ensuing 22 years, but the quantity that is now thought to exist is less than 50 examples, making it a true rarity. Famed Numismatist, Aubrey E. Beebe of Omaha , Nebraska is credited with the discovery of the 1862/1 overdate. Beebe, who during his career bought, sold and owned most of the major U.S coin rarities, gained much publicity from the discovery and the story was published in the January 1963, Numismatic Scrapbook Magazine as well as the January 7,1963 issue of Numismatic News. As is often the case when a remarkable find is announced, the news coverage prompted just about any reader who had an 1862 quarter eagle to take a closer look to see if it was a prized overdate. Approximately 100,000 1862 quarter eagles exist, but the overdate accounts for less than 50 of them.

The design of the Liberty Quarter Eagle is accredited to legendary coin designer Christian Gobrecht. First minted in 1840, the obverse of the Liberty Quarter Eagle features the bust of Miss Liberty wearing a coronet inscribed with "Liberty", facing to the left. She is also surrounded by thirteen stars. The reverse design features a bald eagle in flight clutching an olive branch and arrows. It has a shield emblazoned on its chest and is surrounded by "The United States Of America."

Graded MS61 by the very stringent Professional Coin Grading Service, PCGS, this coin features lustrous gold surfaces with very few unfavorable marks. Approximately 50 1862/1 overdates exist making this example the cream of the crop.