1861 $2.50 Type 1 (1861 Type 1 Quarter Eagle) PCGS MS63 CAC. This Civil War dated 1861 Quarter Eagle is the rare Type 1 variety. Not a trace of wear is seen on this fully uncirculated piece. The grade of MS63 is confirmed by CAC, which also indicates that this is a premium quality coin. The coin has satiny mint luster on both sides. The strike is full and sharp on the high point of the hair, the centers of the stars, the eagles neck and lower feathers, and the shield.

Christian Gobrecht designed the quarter eagle. The obverse shows a profile of Liberty facing left. Her hair is tied in the back with beads as two curls flow down her neck. On the coronet the word LIBERTY is inscribed. She is surrounded by thirteen six-pointed stars and the date, which is below the truncation. At the periphery of the coin are dentils on both sides. The reverse of the quarter eagle shows a heraldic eagle with wings outstretched looking to the left. In its talons it holds the olive branch and arrows, symbols of peace and preparedness. The inscription UNITED STATES OF AMERICA is in an arc around the eagle, interrupted by the wing tips. The denomination written as 2 D. is below, separated from the inscription by dots.

In 1859 James Longacre, who was now the Mint Chief Engraver, slightly modified the reverse by making the arrowheads smaller and further apart. The old style reverse was used again in 1861 on some Philadelphia issues such as the present coin.
The 1861 quarter eagle with the old style reverse is rare in all grades. They are especially rare in mint state. In its population report, PCGS has certified 7 others in MS63 condition with only 4 better. At CAC this coin is tied for the finest with one other.