Coin Specifications

Category: Liberty Head $2.50 (1840-1907)
Mint: Philadelphia
Mintage: 98,508
Catalog: KM-72
Obverse Designer: Christian Gobrecht
Reverse Designer: Christian Gobrecht
Composition: Gold
Fineness: 0.9000
Weight: 4.1800g
AGW: 0.1209oz
Melt Value: $137.20 (8/28/2015)
Diameter: 18mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1862 $2.5 MS obverse 1862 $2.5 MS reverse

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Description & Analysis

The certainty of an early Civil War victory for the Union turned into doubt and dismay in the North during 1862, with a series of Confederate victories--chiefly the Seven Days Battles and the Second Battle of Bull Run (Second Manassas)--in the spring and summer leaving the conflict's outcome unpredictable. The populace predictably turned to hoarding, beginning with gold and silver coins, which promptly disappeared from circulation. Banks suspended specie payments in 1861-62. By the second week of July 1862, Indian Head cents and other minor currency was gone from commerce as well, replaced by scrip, fractional currency, and private tokens, including the historic Civil War tokens with patriotic themes and merchant store cards.

In the case of the P-mint quarter eagles, production dropped from more than 1.2 million pieces in 1861 to 98,508 business strikes in 1862. Pieces in the higher Mint State grades are seldom encountered, and the average certified grade is only about AU55.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


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Price Guide

Last Updated: 6/8/2015

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1862 $2.5 MS
Base $ 290 325 350 525 825 1700 2000 2350 3450 5250 6700 12500 22000 - - - - - -
$ - - - - - - - - - - - - -

The World Coin Price Guide is independently compiled by Krause Publications’ NumisMaster. NGC makes this information available to its website visitors as a free service, but in no way does the information provided represent NGC’s official opinion or policy. For example, varieties listed in the World Coin Price Guide may not necessarily be recognized by NGC. Please contact NGC Customer Service with any questions.

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Total Graded: 239
Low Grade: VF
Average Grade: 55
High Grade: 64

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
6/3/1994 NGC XF 40   Heritage Auctions 1994 June Long Beach Bullet Sale #120, 120/Lot# 928 $1,045.00
6/17/2010 NGC AU 53   David Lawrence Rare Coins Thursday - Internet Auction # 489, 495/Lot# 5509 $1,667.50
12/2/2010 NGC AU 53   Heritage Auctions 2010 December Houston Signature US Coin Auction Session(3), 1147/Lot# 4324 $2,760.00
12/11/2011 PCGS AU 55   Teletrade Auction 3187, 3187/Lot# 4712 $1,725.00
2/2/2012 NGC AU 58   Heritage Auctions 2012 February 2-5 US Coins Signature Auction- Long Beach Session(3), 1167/Lot# 4647 $2,760.00
5/30/2012 NGC AU 58   Stack's Bowers The June 2012 Baltimore Auction, 137/Lot# 4189 $4,700.00
6/4/2014 NGC AU 55   Heritage Auctions 2014 June 4 - 8 US Coins Signature Auction - Long Beach Session(5), 1206/Lot# 5590 $1,645.00
8/31/2014 NGC AU 58   GreatCollections GreatCollections Coin Auctions 08/31/2014, 189/Lot# 211367 $2,250.00

NGC Registry

NGC Registry Score 1862 $2.5 MS
1862 $2.5 MS Prooflike
Registry Image Gallery
Grade: AU 55
Points: 1427
Owner: Desert Gold
Grade: AU Details
Points: 541
Owner: B.L. Birdy
View the Registry Image Gallery

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