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Lot
2272

1796 25C XF40 PCGS....

2008 April Rosemont, IL (CSNS) Signature Coin Auction #1104

 
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Auction Ended On: Apr 17, 2008
Item Activity: 3 Internet/mail/phone bidders
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Location: Rosemont, IL
Description:
Original XF40 1796 Quarter, B-1
1796 25C XF40 PCGS. B-1, R.5. The rarer of the two varieties from this scarce, low mintage issue, the B-1 is attributed by a low 6 in the date, the date not equally spaced, with the 7 and 9 too close, the T and Y in LIBERTY touching at the top, and the lower right star almost touching the drapery. Both varieties share the same reverse.
The 1796 quarter is an important one-year type coin. The second year of quarter coinage occurred in 1804, where the Heraldic Eagle reverse replaced the Small Eagle reverse. Mint records indicate that 6,146 1796-dated quarters were produced. According to Bullion Journal A in National Archives Record Group 104, the 1796 quarter deliveries were as follows:

Warrant Date Delivery

6 April 9, 1796 1,800
63 May 27, 1796 2,530
65 June 14, 1796 1,564
81 February 28, 1797 252

Many 1796 quarters were saved as the first of their kind. Walter Breen, for example, in his Complete Encyclopedia of U.S. and Colonial Coins, writes: "When Col. E.H.R. Green inherited his mother's millions, he became a collector of (among other things) ... coins; and among his immense numismatic holdings was a hoard of over 200 uncirculated 1796 quarter dollars, of which at least 100 were more or less prooflike. A. Kosoff and Andre DeCoppet dispersed many of these to date and type collectors during the 1940s."
This XF40 example displays medium gray patina with tan-gold highlights. Sharp definition shows on all of the design elements, and the dentilation is bold, especially on the obverse, as is typical for the issue. Aside from a few inoffensive obverse marks, the surfaces are remarkably clean for a coin that has seen some circulation. No adjustment marks are evident on either side.(Registry values: P7) (NGC ID# 23RA, PCGS# 5310)

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