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Sale 42
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Lot 2626
1796 Draped Bust Quarter Dollar. PCGS graded MS-62. Lovely blue toning on both sides. Semi reflective surfaces. Well struck. Browning-2. R3. The "High 6" variety of the issue, one of just two known die pairings for this low mintage single year type. This is the more plentiful variety of 1796 by a small margin. Early state: The obverse of this example is perfect, with no die cracks through LIBERTY. (On the rare late-state examples, several heavy die cracks are seen through ERTY and star 9.) A gorgeous toned example whose gleaming field sports original color on both sides. The color tends towards iridescence in several areas. Best of all, this is a very pleasing example of the date, not fully struck on the eagle's head or upper right leaves in the wreath, but with more than sufficient detail to put it well ahead of the pack in terms of overall excellence (PCGS # 5310) .
The design of the 1796 Draped Bust, Small Eagle quarter dollar had its genesis in the almost universal disdain for the previous Flowing Hair coin designs on the silver denominations, designs that were widely criticized. To avoid further public embarrassment, Mint Director Henry DeSaussure engaged renowned portraitist Gilbert Stuart, who supposedly used as his model the prominent Philadelphia socialite Mrs. William Bingham (nee Ann Willing). The likeness of the buxom Mrs. Bingham was first applied to the Draped Bust dollar issued late in 1795, followed by this quarter dollar, the dime and half dime, as well as the half dollar in 1796.
The obverse portrait is encircled by 15 stars, with the inscription LIBERTY above the head and the date below. The reverse depicts a small eagle on cushion-like clouds, within a wreath of olive and palm branches. The inscription UNITED STATES OF AMERICA encircles the wreath. The quarters of 1796 lack a denomination.
Only 6,146 of the new quarters were struck in 1796. There are just two varieties known, one with a low 6 in the date and the other with a high 6, the Low 6 variety being the scarcer of the two. Collectors generally want only one coin for a type set, and herein lies the enduring popularity of the 1796 quarter. While it is not a rare coin for the era per se, anyone who attempts to complete a Type Set of United States coins must have a 1796 quarter, as this design was made in only this one year.
Estimated Value $70,000 - 75,000.
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| Realized $86,250 |
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