1927-S 25C MS67+ 认证号42608709, PCGS号5764

CAC. Per cataloger, "One of the 10 finest-certified examples at both services combined (3/17), this Superb Gem 1927-S quarter is well-preserved and visually spectacular, particularly in comparison to the often dull and lifeless merits of lower-end Mint State pieces. The pristine, mark-free surfaces offer booming luster and a soft cartwheel effect. Each side is delicately toned in champagne hues with original shades of golden-brown that mix with splashes of iridescence at the rims. Although the strike does not merit the Full Head designation, it is slightly above average overall, with only localized areas of weakness that are common to this issue -- on the shield rivets, head and central gown lines. This is a remarkable quarter that will certainly become a favorite of its new owner, and a piece that can be admired by all collectors for its remarkable technical quality and aesthetic beauty. . Population: 6 in 67 (1 in 67+), 0 finer (3/17)." Sold by Heritage on 1/3/2007 as an NGC #1805761-001 MS67, Lot number 943. Obtained from Heritage Auction as a PCGS #25656266 MS67 Pop 6/2 (4/17) 4/27/2017, Lot number 4037. Upgraded to PCGS/CAC MS67+ Pop 2/0 (12/23).

David Hall

The 1927-S quarter is the lowest mintage (by a large margin) Type 2 Standing Liberty quarter. In fact, it is the second lowest mintage of the entire series as only the very rare 1916 had a lower mintage. This issue is very interesting in terms of the distribution of grades of the survivors. Basically, 95 percent or more of the survivors grade AG03 to GD06. VG, Fine, VF, and EX examples are really rare. And, of course, choice mint state examples are monster rarities. The 1927-S obviously saw extensive circulation and not many were saved at the time of issue. The low mintage is an attraction to some rare coin entusiasts, but while the coin is rare in almost all grades, it is only semi-scarce in the lowest grades (AG03-GD06). In the 1970s and early 1980s, I had a client who was hoarding circulated 1927-S quarters and literally had rolls and rolls and rolls of GD04ish quality coins. But he'd only be able to buy one or two higher grades a year. Today, 1927-S quarters are desireable in any grade and they are still a legitimate 20th century rarity in any grade VG08 or higher. But whenever I see a GD quality circ I can't help but think back to that bank vault in LA where I saw them by the hundreds.