Eric Milton is a longtime collector from Colorado, having started
in the 1960s.
found enjoyable Steve Roach’s Market Analysis in the Dec. 29 issue of
Coin World Weekly about three coins, one being a Professional
Coin Grading Service Proof 63 Deep Cameo 1898 Coronet $2.50 quarter
eagle that sold for $8,812 at the Houston Money show.
purchased that coin, lot 3732.
started collecting Lincoln cents back in the 1960s. After reading the
“Red Book” and coin collecting magazines (I cannot remember what they
were), I decided to save up the money I earned over the summer and
from Christmas and talked my mother into taking me to New York City (I
lived on Long Island) to get a Proof quarter eagle. I believe she took
me to Bowers and Merena, where I purchased an 1895 Proof Coronet
Liberty quarter eagle, mintage 119. At that time I had no idea what
grade it was; to a 12-year-old it was “Proof,” so what else did I need
rest of my collection was all very general, Lincoln cents, Indian Head
cents, Buffalo nickels, some Walkers, Franklins, anything I could find
— what a 10- to 14-year-old could find. I lived near an old English
fort, and the only other coin I had of value was a 1787 English guinea
that I found in a trench when some water pipes were dug up.
Proof quarter eagle was the keystone to my small collection. I stopped
collecting coins, went to college and moved west to Wyoming. After
getting married, I moved to Houston where the finances of a new family
led me to sell that coin to a reputable coin dealer in Dallas in the
have been almost obsessed in my a quest to find another Proof quarter
eagle. I loved the first Proof and had to have another one, although
the date did not matter. It had to be prior to 1902 when the Mint
stopped striking cameos. The Proof had to grade at least a 63 because
of the typical hairlines in 62 and below.
have been watching the market, tracking the sales at Heritage Auctions
and a few other dealers, and when this coin came up for auction it was
the opportunity I was looking for. The bidding was a little higher
than I expected, but I knew this was the culmination of a dream and
spending a little more was well worth it.
coin was a little more than I wanted to spend, but the colors were so
unusual, and I have wanted a Proof for many years, so I decided to
spend a little more to get it. Looking at the prices of other Proofs
over the past few years, I found there is a pretty big range, so
establishing a base line was impossible, at least for me.
it will not lose value and will be one of a few things my kids will
want to keep when that time comes.