Lot 1378
1916. PCGS graded MS-63. A lovely Premium Quality example in an old green label holder. An outstanding example with lovely deep antique toning on both sides. A wonderful example of our first Standing Liberty Quarter
This was William Pannier's favorite coin. He bought it in the 1970's from Abe Kosoff who told him "never sell this coin".Willie held onto this coin which he proudly displayed at his Fullerton Coin Shop until his death in 2010.
When the Standing Liberty quarters were first released in 1916-1917, they received favorable numismatic press, and many collectors-the overall number being relatively few at the time-set aside pieces for their collections or as souvenirs. However, there was virtually no interest in collecting such coins by date and mint-a true statement, although it may be hard to believe today. Accordingly, as different varieties were produced in ensuing years, scarcely any attention was paid to them. Then in the early 1930s Wayte Raymond launched his "National" series of cardboard album pages, with clear slides, manufactured by M.L. Beistle in Shippensburg, Pennsylvania. For the first time collectors had a way to conveniently store coins while examining both sides, and at the same time having openings for all of the varieties. It became a very popular pursuit to fill holes, similar to doing a crossword puzzle. A little bit later, "penny boards" were produced by Post, who later sold out to Whitman Publishing Co., sowing the seeds for the publishing enterprise we know today. The boards became even more popular as they were inexpensively priced.
Thus, in the 1930s the aspect of collecting by date and mintmark sequence became popular for the very first time. However, there was a big problem: Many pieces dated as recently as the 1920s proved to be virtually impossible to find in Mint State, this being particularly true of low-mintage issues. For even earlier issues the problem was more acute. Quickly the 1916 Standing Liberty quarter was recognized as a key date, a major rarity in the context of the 20th century, a status that it has maintained undiminished since then (PCGS # 5704) .
Estimated Value $16,000 - 17,000.
The William Pannier Estate.
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