1862 Proof

The 1862 Proof is the first wartime contraction year for the Seated quarter Proof program, with delivery recorded at approximately 550 pieces, almost half the prior year's figure. The drop tracked the broader collapse of specie coinage circulation during the Civil War: silver and gold hoarding accelerated through the winter of 1861 and into 1862, and by mid-year hard money had largely vanished from commercial channels in the eastern states. Mint Proof subscriptions contracted alongside the general market disruption, and the 550-piece figure is the floor for the early years of the recorded Proof program. Surviving examples are correspondingly thinner than the 1860 or 1861 deliveries, and the issue carries an extra layer of scarcity that traces directly to the wartime economy. The figure shown on the catalog page reflects circulation output for the year; the actual Proof figure is around 550 pieces.

Strike and authentication diagnostics follow the standard early-formal-era pattern. Brilliant Proof striking shows fully mirrored fields, sharp denticles around the entire circumference, and squared rims, with Liberty's head and the eagle's leg feathers at full strike depth. The 1862 sits inside the No Arrows, No Motto subtype, neither marker present on the design, and weight should sit near 6.22 grams under the Coinage Act of February 21, 1853 standard. Cameo contrast, the frosted-devices-against-mirrored-fields appearance designated CAM by PCGS and NGC, is scarce on this delivery and Deep Cameo is genuinely rare. Hairlines from old cleaning remain the most common surface defect, and the smaller production figure means cleaning has done proportionally more damage to the certified census than on the high-delivery years. Original cabinet toning, when present, supports the Cameo designation and reads as a clear premium attribute.

Market position reflects the lower mintage. Pre-Motto Proof type-set builders compete with Seated quarter Proof date set collectors and Civil War silver Proof specialists for a population that thins quickly above PR65. The narrative supply consistently meets the narrow demand, but attractive high-grade examples with original surfaces command real premiums over generic certified pieces. Certification through a major grading service is the working baseline, and original toning beats rebrightened surfaces head to head. The wartime context adds collector interest from the Civil War financial history side, supporting price levels above what the figure alone would justify. For the broader story of Gobrecht's design and the series' proof program, see the Seated Liberty Quarter series history.