Estimated grade. Sold by B. Max Mehl Jun '41 price realized $2.85
The 1840-O "With Drapery" Quarter had the lowest reported mintage of any Seated Liberty Quarter until 1864. One would expect the 1840-O to be scarce, or at least worth as much as an 1864-S in comparable grades, but such is not the case. The 1840-O seems to be readily available and it does not sell for much of a premium except in top grades.
The Mint engravers used two different mintmarks in this year: Small and Large (according to Briggs, the so-called Medium mintark is a misattribution and does not exist).
The best examples of this year include a pair of Gem MS65s.
Heritage 4/2014:5579 (as PCGS MS64 25327586), $35,250