After achieving a record (up to that point in time) mintage of 122 Proofs in 1887, the Philadelphia Mint struck just 97 Proof quarter eagles in 1888. No more than 50 examples of this elusive issue are believed extant, two of which are impounded in the collections of the Smithsonian Institution and American Numismatic Society. Among those coins in private hands are a number of impaired specimens, which fact further confirms the fleeting bidding opportunity that this lot represents for the advanced collection of classic U.S. Mint gold coinage.

The example to the left was sold by Stack's Bowers Galleries in the May 2016 Rarities Auction, where it sold for $39,950.