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1804 25C VF20 NGC. B-1, R.3. ...

2013 April 24 - 28 CSNS US Coin Signature Auction - Chicago #1184

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Auction Ended On: Apr 25, 2013
Item Activity: 7 Internet/mail/phone bidders
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Location: Renaissance Schaumburg Convention Center Hotel
1551 North Thoreau Drive
Schaumburg, IL 60173

1804 Draped Bust Quarter, B-1, VF20
Sought-After First-Year Type Coin
1804 25C VF20 NGC. B-1, R.3. The 1804 Draped Bust, Heraldic Eagle quarter boasts a tiny mintage of 6,738 pieces. The issue is one of the most popular dates among early quarter enthusiasts, and it has considerable appeal as a first-year type coin. Quarters were first minted in 1796, but no more were coined until 1804. The 1804 is actually much more difficult to locate than the 1796 in high grade. There are two known varieties of the date, although one of them remained undiscovered until after 1922. The present coin is a representative of the more available B-1 variety, with the low 4 in the date. The 1804 is scarce in all grades, but B-1 examples can be located in higher grades with patience.

The auction history of the 1804 quarter is long and distinguished, but the history of the different varieties is clouded because the B-2 variety was unknown in the 19th century. An early appearance that can be confirmed as a B-1 occurred in lot 672 of the Cohen Collection (Cogan, 10/1875):

"1804 Remarkably fine for this rare date, and although a little circulated, is about the second or third best I have known to be offered at auction, and very rare in this condition."

The lot was plated and can be identified as a B-1 example. William Poillon's annotated copy of the sale indicates the price realized was $9, to Dr. Hall, a strong price at the time.

The present coin is an attractive specimen, showing even wear over all surfaces. Only the left part of the drapery is indistinct. Census: 6 in 20, 35 finer (3/13).
Ex: Central States Signature (Heritage, 4-5/2010), lot 2077.(Registry values: P7) (NGC ID# 23RB, PCGS# 5312)

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