The Seated Liberty quarter series ran from 1838 to 1891, and the rarity of its issues vary widely today. While the 1869-S is not a key date, it is not among the easiest date-and-mintmark combinations to acquire. Price guides suggest its value to be several hundred dollars in the lowest grades, rising to a few thousand dollars in Mint State.
The 1869-S comes from a variety struck from 1866 to 1873 that is distinguished by the addition of the “In God We Trust” motto (which was placed above the eagle on the reverse), but before a slight increase in weight to 6.25g, which lasted until the 1960s (when silver was phased out of quarters struck for circulation). Numismatic Guaranty Company (NGC) recently received a purported example of an 1869-S quarter.
When trying to determine whether a coin is authentic, one of the easiest tests is simply to weigh it. In this case, this coin weighs 5.62g, well below the expected 6.22g. On the other hand, one of the more difficult tests to perform, which is mostly due to the expense of acquiring an XRF analyzer, is a metallurgical analysis. After scanning this coin, NGC determined it to be struck in an alloy of 60-percent copper, 37-percent zinc, 2-percent silver, and 1-percent nickel, instead of the expected 90-percent silver and 10-percent copper.
There are plenty of other clues that point to this coin’s true origins. Only a single pair of dies was used to strike the 1869-S, so the position and appearance of the date and mintmark should perfectly match a genuine example. However, the date on the counterfeit is too high, and the serif at the top of the “1” is much shorter. In addition, the shape of the “S” differs greatly from a genuine example, and it is missing the raised diagonal line through the bottom loop of the “S” that is seen on all genuine examples. Additionally, the fake has pimply surfaces, which are particularly noticeable on the letters in QUAR. DOL. The counterfeit also lacks details, and its color is inconsistent with a genuine example.
If you have any doubts about a coin’s authenticity, remember that NGC backs its determinations of authenticity and grade with the NGC Guarantee.
A version of this article appears in the March 2025 issue of The Numismatist (money.org).