1796 Draped Bust Quarter. B-2. Rarity-3. VG-8 (PCGS).A predominantly pearl gray example with a few blushes of light olive patina here and there around the peripheries. The strike is well centered on both sides, the borders fully denticulated and framing devices that retain sharper detail in the recessed areas. Faint hairlines and a touch of glossiness to the texture are mentioned solely for accuracy, the surfaces pleasingly original in hand for a well circulated early date quarter. Scarce late die state, Tompkins 3/1.<p><p><p>This delightful example also has the added appeal of being the plate coin for the challenging late die state with its dramatic array of die cracks around LIBERTY which certainly led to the dies rather quick failure and retirement. Undoubtedly the most catastrophic die break in the entire Draped Bust quarter series, it often leads to under-grading by those not familiar with the characteristics of the variety. This piece delivers superior eye appeal and remains ripe for inclusion in an advanced specialist cabinet of early quarters.<p><p><p><p><p>It is hard to imagine a time when the quarter was not a ubiquitous coin in daily use, but such was the case in the early days of the Republic. The continuing influx of Spanish colonial 2 reales coins continually outpaced domestic production of quarters and easily supplied the needs of the nation well until the 1850s. At the outset, it seemed as though the quarter dollar was more superfluous, and after the 6,146 examples were struck from two die pairs both sharing the same reverse die, production was suspended until 1804. An essential component of any type set of American coins, this one-year type has long been in short supply and in considerable demand at all preservation levels.Ex Jim McGuigan; Heritages sale of the Jules Reiver Collection, January 2006, lot 22302, where it realized $23,000; Three Sisters Collection, PCGS Set Registry; Heritages FUN Signature Auction of January 2019, lot 4433. The plate coin for obverse Die Stage 3 in the 2008 early quarter reference by Steve M. Tompkins.
