LOT Old Heritage Auctions  /  2008 April Rosemont, IL (CSNS) US Coin #1104  / 

2273

1796 25C AU58 PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:67,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 25C AU58 PCGS
<B>1796 25C AU58 PCGS.</B></I> B-1, R.5. The more elusive of the two die varieties for this one-year subtype, characterized by a star 15 that nearly touches the bust. Just one Small Eagle reverse die was used to strike the famous stated mintage of only 6,146 pieces. The quarter eagle denomination did not fit in smoothly with the "decimalization" theme championed by the thinkers behind the first U.S. Mint; rather, it acted as an analogue to the two reales denomination of Spain and its colonies, as described by Neil Carothers in his iconic 1930 work, <I>Fractional Money</B></I>.<BR> With so many coins denominated in the Spanish system in circulation in the former colonies, issuance of a quarter dollar seemed superfluous, and after the initial coinage, no more pieces would be struck until the Draped Bust, Heraldic Eagle coins dated 1804. Carothers continues, noting that for silver depositors, half dollars were more convenient for those who desired minor silver. Coinage of dimes and half dimes experienced similar neglect, though not to the same degree.<BR> While many of the 1796 quarters encountered heavy circulation, a small number of pieces were saved, either as curiosities or mementoes. This well-defined and attractively toned example must have fallen in one of the two categories. The highest points of the design show only a trace of friction, and the fields retain soft, pleasing luster beneath the deep olive-gold and steel-blue shadings that drape the obverse and the reverse margins. The center of the reverse shows silver-gray shadings, as well as a handful of adjustment marks. A minimally flawed and undeniably appealing piece that displays beautifully, certain to be a prize for any collector who owns it. Population: 19 in 58, 34 finer (3/08).<BR><BR><B>Coin Engraver:</B> Robert Scot<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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