The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
The popularity of this issue is assured by the presence of arrows flanking the date on the obverse. This is a two-year type that made its appearance in 1854 when the incoming Mint Director, Colonel James Ross Snowden, ordered Chief Engraver James Longacre to drop the rays from the reverse of the 1853 design. The business strike 1854 quarter is relatively common by the standards of this series, but its proof counterpart is a significant rarity that seldom appears at auction. Prior to 1858, the Mint did not keep accurate records on the number of proof coins that it delivered, and, as a result, we do not know the exact mintage figure of this particular issue. In his 1988 Encyclopedia, Breen states that possibly 10 proof 1854 Arrows quarters are extant, but in his 1977 encyclopedia on proofs, the author traces the pedigree of only four examples.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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