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Lot
1629

1796 25C MS62 PCGS....

2008 July-August Baltimore, MD (ANA) US Coin Signature Auction #1114

 
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Auction Ended On: Jul 31, 2008
Item Activity: 9 Internet/mail/phone bidders
1,492 page views
Location:

Baltimore, MD

Description:
Richly Toned MS62 1796 Quarter
1796 25C MS62 PCGS. B-2, R.3. Easily distinguishable by the high 6 in the date, B-2 is the more common of the two known die marriages of the 1796 Draped Bust quarter. The half dollar was the dominant low-denomination coin for many years, but there was a demand for lesser value coins for commercial needs. These commercial needs could only be met by small foreign silver coins, and low-value private bank notes. The 6,146 quarters that were struck in 1796 were apparently sufficient to meet the demands for this denomination until 1804, when another 6,738 quarters were produced.
The eccentric Colonel E. H. R. Green once owned 200 Mint State 1796 quarters, most of which were of the B-2 variety. While we do not know whether or not the present representative came from Green's holdings there is a good chance it did. According to Abe Kosoff, half the Green coins were prooflike. Kosoff distributed the Green coins in the New York area in the early 1940s.
This is a richly toned example with deep green-gray color with splashes of reddish-gold patina at the border areas. The impression is expertly centered and bold over most areas, but the eagle's head is characteristically soft for the variety. Modest underlying brightness is evident at a few angles, but we can find no singularly mentionable handling marks. In addition to a limited original mintage of 6,146 pieces, the 1796 is popular as the first U.S. quarter and the only issue of the Draped Bust, Small Eagle type. An exceptional representative of the first U.S. quarter dollar.
From The Aspen Collection.(Registry values: P7) (NGC ID# 23RA, PCGS# 5310)

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