1820 Capped Bust Quarter. B-2. Rarity-2. Large 0. MS-63 (PCGS). CAC.，This Mint State quarter exhibits multicolored peripheral toning that is more vivid and varied on the obverse. The centers are generally brilliant on both sides, and satiny mint luster is universally strong throughout. The overall bold strike and exceptional preservation further define this coin as one of the finest Large Diameter Capped Bust quarters of any date or variety available.<p>Now a mainstay denomination familiar to all, this was not the case for the quarter dollar in the beginning. The denomination was first struck four years after it was authorized by the Mint Act of 1792 and then was not struck again until 1804. In fact, quarter dollar production remained erratic until the 1830s, with no examples struck bearing the dates 1808 through 1814, 1826, 1829 or 1830. During the earliest decades of U.S. Mint operations gold and silver coins were not made on government account but, rather, were struck at the request of bullion depositors who ordered certain denominations for their precious metal. During the era of Draped Bust and Capped Bust silver coinage the half dollar and, to a lesser extent, dollar were the denominations of choice among depositors. Few quarters were requested, and few were struck. In fact, the highest yearly production for this denomination during that era came in 1818 when 361,174 pieces were produced. By way of comparison, the highest mintage among pre-1831 half dollars was achieved in 1827 when 5,493,400 coins were struck.<p>The 1820 is the fourth date in the Capped Bust quarter series designed by John Reich. The mintage for that calendar year is 127,444 pieces, although we have no way of knowing whether or not that total corresponds to the mintage from 1820-dated dies. The early United States Mint often used dies randomly and until they broke irretrievably without regard for year of issue, as high quality steel for making dies was in short supply. With five die marriages known and examples among the more available Large Diameter Capped Bust quarters, some 1820-dated examples were likely also included in the reported delivery of 216,851 quarters achieved in 1821.<p>Browning-2 vies with B-4 as the most plentiful variety of this issue, although we caution advanced collectors that the vast majority of survivors are circulated to one degree or another. Off the market for decades and not included therein, this Choice example is a match for the finest Mint State 1820 B-2 quarters listed in the 2010 reference <em>Early Quarter Dollars of the United States Mint: 1796-1838</em> by Rory R. Rea, Dr. Glenn Peterson, Bradley S. Karoleff and John J. Kovach, Jr. It will be just right for inclusion in another highly regarded collection.，From the A.J. Vanderbilt Collection. Earlier from our (Stacks) sale of the Reed Hawn Collection of United States Quarters, March 1977, lot 270. Lot tag included.，
