Auction Name: 2026 March 26 - 28 US Coins Signature® Auction

Lot Number: 3039

Shortcut to Lot: HA.com/1391*3039

1796 25C B-2, R.3, XF45 NGC. Tompkins Die State 2/1-- a middle Browning-2 die state, lacking any obverse or reverse die cracks, with die lapping visible at Liberty's lower curls. As always, nearly all early and middle B-2 die state quarters show weakness at the eagle's head and neck -- even on high-grade examples. Those coins struck from the late die state (with a heavily cracked obverse) tend to be sharper at the eagle's head.

Although the quarter denomination was authorized by the Mint Act of 1792, no quarters were struck until 1796. The coins feature Robert Scot's Draped Bust design and Small Eagle reverse. The 1796 quarter is among the three final Federal denominations introduced during the year, joined by the 1796 dimes and 1796 quarter eagles. Only 6,146 quarters were struck. Two die pairs exist for 1796 quarters, including the Browning-1 variety (B-1) with star 15 close to Liberty's drapery and Browning-2 (B-2), showing star 15 further away from the drapery. That diagnostic is perhaps more reliable than the position of the 6 in the date, which is slightly higher on B-2 quarters than it is on its B-1 counterpart. The B-2 variety outnumbers the B-1 survivors approximately 3 to 1 overall, and by an even greater ratio in high grades. The two varieties share the reverse die, confirming the B-2 variety was struck before its B-1 counterpart.

For reasons unknown, no denomination is stated on the 1796 quarters. This was a source of confusion upon distribution, especially with the new denomination so similar in design to that of the 1796 half dollars. Fortunately, the half dollars included the rather unusual fractional denomination "1/2" on the reverse, and the coin's value was repeated on the half dollar's lettered edge. In contrast, the 1796 quarters were struck with a reeded edge.

Some collectors bemoan the fact that Joseph Wright's elegant 1792 quarter dollar pattern was never adopted for use in producing the first twenty-five cent coins. Rather, the 1796 Draped Bust design exists as the only 1700s-dated representative of the quarter dollar series and serves as a one-year-only type coin. The low mintage reinforces its rarity despite a comparatively high survival rate in relation to its first-year production.

This Choice XF B-2 example is a premier Guide Book variety and a key issue for its denomination and for silver type. It offers a seldom-seen opportunity to acquire a high-end, moderately circulated example of this classic American type coin. Both sides display attractively toned medium-gray centers bounded by darker slate-gray borders. Lilac-gray patina emphasizes the well-struck high points. Bold definition remains throughout the design elements, including Liberty's hair, eye, and drapery, the eagle's wing and tail feathers, claws, and the clouds. The dentils are strong over each side and the devices are well-centered on the planchet. No adjustment marks are evident. This exceptional XF45 example will be an excellent addition to any high-grade early type collection, and as such is well worth a generous bid. The 1796 quarter is ranked among the 100 Greatest U.S. Coins. NGC Census (both varieties combined): 7 in 45, 79 finer (2/26).

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