1796 25C MS64 PCGS. CAC. B-2, R.3....

"As collectors , we can rejoice in the fact that so many uncirculated examples of the 1796 quarter exist, yet at the same time we can also be a bit puzzled. These coins, as was the case for all coinage prior to 1837, were minted for private bullion warrants and were presumably intended for commercial purposes. Furthermore, a quarter dollar represented a sizeable sum in 1796, when a typical workman's wages might be only three dollars a week. Hence, they likely would not be considered mere trinkets to the average man and a considerable 'opportunity cost' occurred if they were not used to purchase necessities. One can only presume that many of these coins were ultimately retained by Legislators and/or Dignitaries as "Souvenirs," by merchants and well-to-do citizens due to their novelty, or that a cache was maintained by a bank for capital requirements (a role more typically assigned to early federal half dollars)."