There are currently no items available for purchase in this Department. Search our Auction Archives below to find item values.
Lot
3708

1796 25C MS64 NGC....

2009 January Orlando, FL FUN Auction #1121

Sold for: Sign-in or Join (free & quick)
Make Offer:
Make Offer to Owner

The owner of this Item has been actively participating in the Make Offer to Owner program.
Claim Item: Sign-in or Join (free & quick)
Auction Ended On: Jan 8, 2009
Item Activity: 9 Internet/mail/phone bidders
1,503 page views
Location:

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

Description:
Classic Rarity, 1796 Quarter, B-2, MS64
1796 25C MS64 NGC. B-2, R.3. The year 1796 was significant as the first time that the Mint was able to actually produce all coinage denominations authorized by the Mint Act of 1792. The quarter, dime, and quarter eagle were all minted for the first time in this year. Earlier, priority had been given to the more prestigious large denominations, and to the smaller coins that were indispensable in daily transactions. The small demand for the quarter is reflected in its minuscule mintage of 6,146 pieces. The public must have found the new coins interesting, if not very useful. A relatively large number of examples were saved as curiosities, or in bank vaults, and the issue is available in all grades today. After 1796, the denomination was not produced again until 1804, by which time the reverse had been changed to the Heraldic Eagle design. Thus, the 1796 quarter is one of the few one-year type coins.
The quarter was an inherently difficult coin to produce. The specified weight was 6.74 grams, with a composition of .8924 silver and .1076 copper. The designed diameter of the coin was 27.5 mm. The edge was reeded. To contain the specified amount of metal in a coin with such a large diameter the planchets had to be unusually thin. The planchets were cut from sheets of metal of the required composition that were repeatedly drawn through horse powered rollers. The distance between the rollers was reduced with each pass until the desired thickness was attained. Before each pass, the metal sheets were annealed to make the metal softer and more ductile. It was necessary to repeat this process more times than usual to prepare the quarter planchets. In addition to the extra work involved in rolling, many of the planchets became brittle because of the repeated annealing. When the coins were struck on the screw press, some of the brittle planchets developed edge splits, and small pieces of metal broke off. The effects of this process can be seen on many 1796 quarters today.
Collectors have prized the 1796 issue since the earliest days of the hobby. An auction appearance is recorded as early as the A.C. Kline Sale (M. Thomas & Sons, 6/1855), lot 261. In his new book, Early United States Quarters 1796- 1838, Steve Tompkins notes the following combination of special factors that account for the outstanding popularity of the issue:
1. It is a one-year type coin.
2. It is the first date of issue for the denomination.
3. It is listed as a separate type in the Red Book.
4. It is the only quarter with an 18th century date.
The small mintage of 1796 quarters was split between two obverse die varieties, identified by the position of the numeral 6 in the date. The present coin is from the more available B-2 obverse design, characterized by the high 6 in the date. Tompkins notes that the B-2 variety appears at auction approximately three times more often than the B-1. Extrapolating from the recorded mintage figure, Tompkins theorizes that slightly more than 4,000 examples of the original mintage may have been B-2s and a little less than 2,000 were B-1s. Mint records show four deliveries of 1796 quarters. Warrant # 61 of 1,800 pieces was delivered on 4/9/1796. Warrant # 63 of 2,530 pieces was delivered on 5/27/1796. Warrant # 65 of 1,564 pieces was delivered on 6/14/1796. Finally, Warrant # 81 of 252 pieces was delivered on 2/28/1797. If Warrant # 61 and Warrant # 63 were B-2s, then the total number of coins of this variety would have been 4,330 specimens. If the other warrants contained B-1 examples, the total would be 1,816 pieces. These numbers correspond closely to the estimates extrapolated from the auction appearance ratio. Tompkins acknowledges that this result may be just mathematical coincidence, but the statistics fit well with the observed data.
The strike is particularly sharp on this example, especially on the obverse. Crisp detail shows in all devices, even star centrils and hair strands are bold. The reverse has a better than average strike, with some detail showing on the eagle's head. The eagle's nostril shows plainly, a detail rarely seen on this variety. The fields are free of distractions and lovely lilac and gray toning accent both sides. Stunning eye appeal. Steve Tompkins lists this coin as tied for #4 in his Condition Census.
From The Scott Rudolph Collection.
See: Video Lot Description(Registry values: P7) (NGC ID# 23RA, PCGS# 5310)

View all of [The Scott Rudolph Collection ]
View large image(s) of this item

Service and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  | NGC Coin Grading Guarantee  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Guides and Pricing Information:

Previous Prices from Heritage Auctions
Sign-in or Join (free & quick)
Price Guide
Sign-in or Join (free & quick)
Population Guide
Sign-in or Join (free & quick)
Find Auction Prices for Comparable Items:

Photographs:
Sign-in or Join (free & quick) to see the full image


Videos:
FLOOR AUCTIONS View All
Open For Bidding
Coming Soon
HERITAGE MEMBERSHIP
888,502
bidder-members
$982,181,535
sold in the last year
VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 
CONSIGNMENTS WANTED
Only 32 days left to consign to the 2015 January 7 - 12 FUN US Coins Signature Auction - Orlando!
Learn About Consigning With Us
The marketing was exceptional from the photos to the ads in Civil War Times and North South Trader for the cross over people!!! I have had many emails from my Civil War collecting fraternity that saw these and I saw them at the national show in Nashville/Franklin in early December.
Dave Noble,
Rockwall, TX
HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com
Take our 2014 Coin
and Currency Survey
Grand prize:
A Certified Uncirculated
1907 High Relief $20!*
Take the Survey
HERITAGE VIDEO TUTORIAL
GETTING THE MOST OUT OF SEARCH
RECENT AUCTIONS
2014 October 8 - 13 PNG New York Invitational US Coins Signature Auction - New York
2014 October 8 - 13 PNG New York Invitational US Coins Signature Auction - New York
REALIZED $11,171,560
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
REALIZED $9,060,348
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
REALIZED $1,806,473