PCGS The Standart for the Rare Coin Industry

Liberty Seated Quarters (1838-1891)

Of all 19th century silver series, Liberty Seated quarters are, as a class, one of the most elusive. As a dealer I can say that I always have in stock more Liberty Seated dimes and half dollars than I do quarters.

As a rule of thumb, Uncirculated quarters dated before 1853 are quite scarce, as most were melted when the metallic content of silver coins rose above the face value (the authorized weight was reduced in 1853, solving the problem). This is particularly true of New Orleans pieces, except issues of the early 1840s which were discovered in quantity in 1982 when a hoard was excavated in the downtown section of the city, not far from the old New Orleans Mint. These coins, considerably blackened, had been hidden away for nearly a century and a half. Among later Liberty Seated quarters, Uncirculated specimens of San Francisco issues are rare through the early 1870s. Carson City issues of the 1870-1874 years are rarities in all grades.

Liberty Seated quarters dated after 1874 are for the most part readily available through 1891, the last year in the series. A number of dates from 1879 onward have very low business strike mintages, adding to their popularity with collectors.

Readers interested in Liberty Seated quarters or any other silver coins of the mid-19th century would do well to join the Liberty Seated Collectors Club, publisher of The Gobrecht Journal. This informative magazine carries much information about rarity ratings, new discoveries, die characteristics, and other related topics.

Budget Recommendations: Build a date and mintmark set in G-4 to VG-8 grade. Select pieces with attractive surfaces.

Recommendations for the Connoisseur: Form a type set. EF-40 to AU-55 coins are incredibly cheap in relation to their scarcity; this is especially true of issues before 1853. With relatively few exceptions, MS-63 and finer business strikes are rare. Proof-63 and Proof-64 coins 1858-1891 are undervalued in comparison to Proof-65 pieces, but be sure to cherrypick. Forming a date and mintmark set can be a lifetime challenge, and only a few collectors have ever attempted the task, although if you have the energy and patience, here indeed is an interesting series. Texas numismatist Reed Hawn is notable among those who have specialized in the series in recent times, as is Fred Matthews, whose collection my firm auctioned in 1990, and who assembled a holding of 1838-1891 quarters lacking only two or three varieties.

Elite Recommendations: You can aspire to build a set in MS-65 grade, but completion will not be possible. For certain scarce and rare issues, you will have to settle for lesser grades (see above commentary). Perhaps the best way to go is to spend the first two or three years acquiring issues of the 1838-1874 years in MS-60 or better grades and quarters of the 1875-1891 years in MS-64 or better. Then take stock of your holdings, and for issues for which you have not obtained a specimen, lower your objective by a couple of grade points. You can always upgrade here and there, as later opportunities present themselves. Philadelphia Mint dates 1858-1891 can be added in Proof-65 finish.