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Lot: 1815
Auction: 1116
1796 25C XF40 NGC....
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Sold for: Sign-in or Join (free & quick) (includes BP) Bid Source: Live: Floor
Ended: Sep 17, 2008
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Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Auction Name: 2008 September Long Beach, CA US Coin Signature Auction #1116
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 8 Internet/mail bidders, 938 page views

Description
1796 25C XF40 NGC. High 6. B-2, R.3. Two varieties are known for the Draped Bust, Small Eagle quarter dollar coinage, a single year design and the first year of issue for the denomination. The two varieties can be quickly distinguished by the position of the digit 6, high and almost touching the bust on this B-2 variety, and lower, nearly centered between the bust and border, on the rarer B-1 variety. The next quarter dollar issue, struck eight years later in 1804, has the new Heraldic Eagle design. Mintage of these early issues was limited with just 6,146 quarters produced in 1796 and 6,738 more in 1804. It is reasonable to assume that the 1796 calendar year mintage corresponds with the actual production of coins bearing the 1796 date. One researcher, Robert Hilt, claimed that the 1796 B-1 variety was actually struck in 1804! He further claimed that the survival rate for the early quarter dollars was only 1.32%, a figure that is much too low. His figures suggest that only about 170 quarter dollars survive from both years, 1796 and 1804. The actual survival rate is probably more in the order of 8% to 10%, or about 1,000 to 1,200 examples for both years.
The present example is an attractive, well balanced, copper-gray representative, perfectly centered, with strong dentils around both sides, which is typical for the issue. Faint mint luster still radiates from some of the recessed areas, and examination under a loupe reveals no marks worthy of singular mention. For possible pedigree purposes, we point out a small linear mark equidistant between star two and the dentils, and another just to the left of the middle of the right ribbon coming out of the bowknot. Nice definition is displayed in most of Liberty's hair, and in the eagle's wing feathers. A desirable coin sure to appeal to a number of audiences.
From The Menlo Park Collection.(Registry values: P7) (#5310) View Entire Collection.

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Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 27042, Lot 11254 Tuesday, April 10, 2007 40 NGC $35,937.50
Auction 422, Lot 901 Saturday, January 6, 2007 40 NGC $34,500.00
Auction 1104, Lot 2272 Saturday, April 19, 2008 40 PCGS $46,000.00
Auction 454, Lot 2773 Saturday, January 12, 2008 40 PCGS $48,875.00
Auction 394, Lot 3143 Saturday, January 7, 2006 40 NGC $44,562.50
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