Heritage Auctions will be offering an amazing Proof gold coin as part of the October US Coin Sale #1320. This 1895 Proof Quarter Eagle has been graded a lofty Proof 69 Ultra Cameo by NGC, making it one point shy of perfection and tied for one of the finest known proofs of the period. In addition to the 119 sparkling Quarter Eagle proofs struck for collectors that year, 1895 is remembered in financial history as the year that the gold reserve of the U.S. Treasury was saved by J. P. Morgan and the Rothschild family. These power players saved the day when they loaned $65 million worth of gold to the United States government.
Despite the fact that proof coins were made to be saved by collectors rather than spent, the ravages of time have often reduced the grade that these coins can receive. The delicate mirrored fields of proofs can be a magnet for "hairlines" and other scratches or forms of damage, and mishandling or use in jewelry have further harmed many of these gorgeous pieces.
Despite all of the things that could have gone wrong over the past 125 years, this coin has survived in virtually perfect condition. When we sold a similar Proof 69 coin dated 1899 a couple of years ago in 2018, there were only 11 69s graded by the two major grading services across the entire Proof Quarter Eagle series! The number cannot be much higher now, making this coin part of an elite upper echelon of both condition and beauty. That similar coin sold for $90,000, so you can expect lots of interest when this piece crosses the auction block here:
Source: Heritage Auctions