Description and Analysis

Seated Liberty Quarters
1865 25C PF

Description & Analysis

With silver coins not circulating in most of the nation, mintages at Philadelphia remained small. The resulting rarity of non-proof 1865(P) quarter dollars has thus increased the demand for the more available proofs. The quality of proof coinage rose throughout this decade, and there are more Cameo examples than for previous years. Even a few Ultra Cameo coins have been certified, a testament to the mint's more skillful die preparation.

Not surprisingly, the 500 proofs for 1865 were coined from a single pair of dies, Briggs 3-B. The obverse die was lightly pitted, as this is revealed as small, raised lumps on the Liberty figure.