1846 Liberty Seated Quarter. Briggs 4-F. Proof-62 (PCGS). A bright, virtually brilliant specimen with reflective fields supporting satiny design elements. Razor sharp in striking detail, as befits the method of manufacture, with superior quality and eye appeal for the assigned grade.<p>As with all pre-1859 issues in the Proof Liberty Seated quarter series, the total number of specimens produced for the 1846 was not recorded by the Mint and has long been lost to history. Numismatic scholars, therefore, are left with the number of coins extant as a basis for estimating the mintage. <em>PCGS CoinFacts</em> estimates that eight to 10 specimens are known from an estimated mintage of 12 pieces, totals that square nicely with Larry Briggs assertion that 10 to 12 coins were struck put forth in his 1991 reference <em>The Comprehensive Encyclopedia of United States Liberty Seated Quarters</em>. Opinions differ, however, with some researchers tracing as many as 13 distinct specimens in numismatic hands. In keeping with these more liberal census listings. Q. David Bowers provides an estimated mintage of 15 to 20 coins in his 2016 <em>Guide Book of Liberty Seated Silver Coins</em>.<p>Regardless of exactly how many coins were produced, the mintage for this issue was clearly on a very limited scale. This is commensurate with the United States Mints policy regarding Proof coinage during the 1840s. Mintages during that decade were achieved on as needed basis, and generally only for official purposes or at the request of a select few numismatists active in the Northeast. It is important to remember in this regard that numismatics as a hobby did not begin to gain widespread appeal in the United States until the late 1850s, at which time the Mint made its first concerted effort to market yearly Proof coinage to collectors. This marketing effort coincided with the Mints first recording of Proof mintages for gold and silver coins in 1859.<p>Given the manner in which they were produced and distributed, it is likely that most Proof Liberty Seated quarters from the 1840s have survived. Since few were struck in the first place, as above, issues such as the Proof 1846 are clearly very rare even if 90 to 95% of the mintages are extant. This is a phenomenal rarity that would serve as a highlight in even the finest cabinet. From Kagins ANA National Money Show Auction of February 2020, lot 1120.
