1923-S 25C Standing Liberty (1923-S Standing Liberty Quarter) PCGS MS63 FH CAC. This mint state, Standing Liberty Quarter has a Full Head designation, which means that Libertys head, which is usually light is well struck. This specimen shows a full, unbroken line from Libertys forehead down to the jaw line, all three leaves visible, and an ear hole. The grade is confirmed by CAC indicating that the coin is a premium piece for the grade. It is fully lustrous with a touch of toning on both sides towards the rim.

The Standing Liberty Quarter was designed by Herman A. McNeil. It shows a heroic figure of Liberty holding a shield in an attitude of protection. Within the shield are a smaller shield and an outer border of rivets. In her out stretched right hand she holds an olive branch of peace. The word LIBERTY is inscribed above, interrupted by Libertys head. The date is on the step below her feet. She stands in an opening formed by a wall on either side. Seven five-pointed stars are down the left side of the wall, and six are down the right side. At the top of the wall, in a divided line, is the motto IN GOD WE TRUST. She wears a chainmail top and a flowing gown. The reverse shows an eagle in full flight flying towards the right. Above the eagle in a circular arrangement is E PLURIBUS UNUM between the upraised wings. At the left edge are five five-pointed stars. Three stars are below the eagle, and five are on the right edge. The denomination written as QUARTER DOLLAR is below the stars at the edge. The mintmark is on the obverse left of and above the date.

According to the United States War Department section on heraldry, the eagle is portrayed incorrectly. It should always be shown flying or facing the dexter or honorable side, to the left of the coin.

The Type 1 Standing Liberty Quarter shows Liberty with a naked breast. When it was first released, many critics called it obscene. Senators and representatives wives objected to the bear-breasted Liberty. They requested changes claiming that the coins would not stack properly, they were artistically incorrect, germs would collect in the coins crevices, the Mint could not strike them properly, and the eagles feet were wrong. Everything was written except the actual objection. However, in a tremendous over-reaction, it was decided to modify the design by covering Libertys nakedness with a coat of medieval chainmail, and the Type 2, the present coin, was created.

About 5% of the 1923-S coins were struck with Full Heads. In its population report as of October 2011, CAC has confirmed 1, the present coin, in MS63 FH with 12 better.