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Lot
2309

1796 25C MS64 PCGS....

2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124

 
Sold for: Not Sold
Auction Ended On: Apr 30, 2009
Item Activity: 7 Internet/mail/phone bidders
886 page views
Location:

Duke Energy Center
525 Elm Street
Cincinnati, OH 45202

Description:
Important B-2 1796 Quarter, MS64
1796 25C MS64 PCGS. 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 modest 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, and it is among the most hotly demanded of those, with pressure coming from a wide spectrum of collectors, from type enthusiasts to early quarter specialists who harbor the ambition of owning both die varieties for the issue.
This pleasingly lustrous near-Gem has excellent definition on Liberty's hair, though the eagle's breast shows more typical striking softness. Both sides show blue-green and gold patina, with hints of rose appearing at the central reverse as well. Minimally marked with great eye appeal, a wonderful representative of America's first quarter. Population: 7 in 64, 8 finer (3/09).(Registry values: P7) (NGC ID# 23RA, PCGS# 5310)

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