1884 LIBERTY SEATED 25C, MOTTO PR68 Cameo
GEM PROOF. LIGHT PERIPHERAL TONE. JUST 875 STRUCK. ONLY ONE COIN GRADED HIGHER AT NGC.
NGC Graded Higher:
In 1884, former President Ulysses S. Grant went into bankruptcy in a matter of days. The Grant’s had loaned Ferdinand Ward, the co-owner of an investment firm with Grant’s son, a hefty sum of $150,000 that Grant had to himself be loaned by William Vanderbilt to cover. Ward proceeded to disappear with the money and Grant was forced to declare bankruptcy. Before passing away soon after, Grant penned his memoirs in order to pay off his debts, which was then published by Mark Twain and its popularity earned Grant’s estate more than had been lost in the con. This 1884 quarter recalls the bankruptcy of a former US president.
The proof Motto Seated Quarter series commenced in 1866 alongside its business strike counterpart. The type was produced all years through the end of the Seated series with the exception of 1874, during which only coins of the Arrows type were delivered. Survivors are prized as high-grade representatives of P-mint issues that are rare in the finer Mint State grades, or as type coins.