August 2014 Chicago ANA Lot #13074

Donald E. Stephens Convention Center
8/6/2014 4:30:00 PM8/6/2014 11:59:00 PM
  • PCGS

Price Realized: $64,625.00


1796 Draped Bust Quarter. B-2. Rarity-3. AU-55 (PCGS).
Important Choice AU 1796 Quarter
First Year of Issue; One-Year Type

Wisps of olive-russet toning around the peripheries enhance the otherwise dominant light silver-olive toning. Both sides are expertly centered in strike. The obverse is sharp overall, while the reverse exhibits the usually found softness of detail at the eagle's head and breast. The balance of the reverse is bold, and both sides are equally smooth in appearance. As noted by P. Scott Rubin, the 1796 quarter is the only newly launched United States denomination which was not also issued in the following year -- in fact it was another eight years before a newly struck quarter emanated from the Mint, and those had the new Heraldic Eagle reverse. As should be expected from its modest mintage, today survivors in high grades are infrequently offered. Demand for this popular rarity comes from both type and date collectors, and finding a high-grade, wholesome example like the present piece is a bona fide numismatic accomplishment. Destined for an advanced collection. 

Abe Kosoff told of having a hoard of Mint State 1796 quarters from the Col. E.H.R. Green estate, but Eric P. Newman, who was also involved in acquiring coins from that source, was not able to verify this. Whatever the facts may be, the combined PCGS and NGC population reports indicate that high level examples are very rare today. Whenever they cross the auction block, there is a lot of excitement. 

PCGS# 5310. NGC ID: 23RA.

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