1796 25C XF45

CERTIFICATION#: -38981
PCGS#: 5310

Owner's Comments

Estimated grade. Sold by B. Max Mehl Jun '41 price realized $28

Expert Comments

David Hall: The 1796 quarter was the first U.S. quarter. It is also a one year only type coin...Draped Bust, small eagle...and the only U.S. quarter struck in the 18th century. This is a rare coin in all grades. However, it is available in mint state condition since in the early part of the 20th century coin collector/hoarder extraordinaire Col. E. H. R. Green aquired a hoard of as many as 100 uncirculated specimens. There is one 1796 quarter that stands out above all the rest, the PCGS graded MS67 pictured above. The quality and eye appeal of this specimen are truly off the charts.

 

 

P. Scott Rubin: The 1796 Quarter Dollar is a rare coin with a reported mintage of only 6,146 coins. It is a one year type coin and the only denomination of U.S. coinage issued for circulation which was not produced the year following its first issue. In fact it would take eight years before the second date quarter dollar was issued. This unique occurrence seems to have an effect on the survival rate for the 1796 quarter, it appears many were saved and more then would be expected were saved in pristine condition.

Let us not think that this makes this coin common, even with a more than expected survival rate this coin is not available in numbers that would appease the collectors who wish to own one today. Only to collectors with ample resources is this coin available. Only twenty to forty-five quarters of 1796 have been offered at auction in any of the last ten years in any grade. In the same time period only two to seven coins graded Uncirculated were offered per year. More historic research tends to show that on average since the mid-1850’s this coin appears on average of fifteen times a year in all grades and only two coins a year in Uncirculated at auction. This is why this one year type coin commands high prices.

On November 15th, 2013 Heritage Auctions sold the Eric P. Newman, ex Col. Green specimen which was graded by NGC as MS-67+star for the record price of $1,527,500. This price eclipsed the previous record of $322,000 set by Heritage in August, 2010 for a PCGS MS-65 coin. The Newman coin is NGC’s highest graded 1796 Quarter, PCGS’s highest grade is MS-67 and when compared under high definition against each other it appears that the PCGS MS-67 coin is just as nice as the NGC MS-67+star with the PCGS coin having fewer contact marks, and it takes very high magnification to see any on either coin.

Diameter: 27.50 millimeters Designer: Robert Scot Edge: Reeded
Mintage: 6,146 Weight: 6.74 grams Metal Content: 89.2% Silver, 10.8% Copper
45+
51,000
50+
54,500
53+
58,500
55+
64,000
58+
77,500
62+
105,000
63+
150,000
64+
265,000
65+
400,000
1
66
550,000
2
66+
650,000
67
1,500,000
1

Rarity and Survival Estimates

Grades Survival Estimate Numismatic Rarity Relative Rarity by Type Relative Rarity by Series
All Grades 650 R-5.7 1 / 1 2 / 6
60 or Better 90 R-8.1 1 / 1 6 / 6
65 or Better 5 R-9.7 1 / 1 5 / 6 TIE

Condition Census

Pos Grade Thumbnail Pedigree and History
1 MS67 PCGS grade Larry Stack - Eric Streiner - Jay Parino - John Albanese - East Coast collector
2 MS66 PCGS grade
2 MS66 PCGS grade  
4 MS65 PCGS grade   David Hall/Van Simmons - Far East collector
4 MS65 PCGS grade  

Browning 2a.  Norweb Collection - Bowers & Merena 3/1988:1512 as "MS-60 to 63, prooflike", $36,300 - Heritage 8/2010:3107 (as PCGS MS65 13154977), $322,000