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Lot
3706

1796 25C AU55 PCGS. CAC....

2009 January Orlando, FL FUN Auction #1121

 
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Auction Ended On: Jan 8, 2009
Item Activity: 5 Internet/mail/phone bidders
2,840 page views
Location:

Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Description:
Impressive 1796 Quarter
AU55, B-1
, R.4
1796 25C AU55 PCGS. CAC. B-1, R.4. The rarer of the two varieties, it is attributed by a low 6 in the date, and a lump between the 9 and the dentil. The quarter dollar was struck sporadically during the early years of the Republic. Some years had low mintage, and some had no production at all. Steve Tompkins writes in his recent treatise Early United States Quarters, 1796-1838:

"This was due in part to the actual needs of commerce, but added to this was a lack of the mint having a bullion fund to purchase silver and the need to process and strike each deposit in the order it was received. The mint was at the mercy of the depositor. If bullion was not deposited to be coined, the mint would sit idle. The depositor was also the one who determined what denomination they wished to have their deposit coined it to. There was a glut of Spanish colonial silver 2 Reales already in circulation. Many of these pieces even being very worn, traded at par, so the need was small for new coins of the quarter denomination. Consequently, few depositors wished to have their deposits returned in quarter dollars.

"In fact, the new quarter denomination was not only unneeded, it was in all probability unwanted as well. Due to the lack of a denomination states on the coin, the public even had trouble knowing what it was worth and how to use it for making change in daily commerce."

This Choice AU specimen features medium intensity bluish-gray and burnt-orange patina, along with traces of luster in the recessed areas. An attentive strike leaves strong definition on the design elements, including Liberty's hair curls and drapery, and the eagle's wing and tail feathers. The dentilation is bold on both sides, a characteristic of the type. A few light circulation marks are concealed in the toning, and are not at all distracting. Adjustment marks are completely absent. In sum, this piece generates impressive eye appeal.
From The James Mossman Collection.
See: Video Lot Description(Registry values: P7) (NGC ID# 23RA, PCGS# 5310)

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