The 1796 Draped Bust Quarter is not only one of the oldest coins in U.S. history, but it is also one of the rarest. With just 6,146 coins ever minted, this quarter represents a significant moment in early American coinage. Featuring a striking design of Lady Liberty and a small eagle, the 1796 Draped Bust Quarter is a must-have for any serious collector. Today, well-preserved examples of this coin are worth over $500,000, making it a numismatic treasure. Let’s take a closer look at the history, design, and value of this rare coin.
Key Facts About the 1796 Draped Bust Quarter
To better understand the significance of the 1796 Draped Bust Quarter, here’s a breakdown of its most important features:
| Feature | Details |
|---|---|
| Year of Minting | 1796 |
| Mintage | Only 6,146 coins produced |
| Obverse Design | Lady Liberty with flowing hair and a draped bust |
| Reverse Design | A small eagle with a shield and arrows |
| Designer | Robert Scot |
| Material | 89.24% silver, 10.75% copper |
| Diameter | Approximately 27 mm |
| Weight | About 6.74 grams |
| Value | Well-preserved examples worth over $500,000+ |
| Significance | One of the earliest U.S. quarters, symbolizing the birth of the nation |
Why Is the 1796 Draped Bust Quarter So Rare?
The rarity of the 1796 Draped Bust Quarter can be attributed to several factors:
- Low Mintage: Only 6,146 of these coins were minted, making it incredibly scarce.
- Early Production: The coin was produced during the very early years of the U.S. Mint, a time when coin production was limited and inconsistent.
- Design Change: After the 1796 quarter was produced, the design was quickly replaced in 1797, making the 1796 version even more collectible and rare.
This combination of factors makes the 1796 Draped Bust Quarter a highly sought-after coin in the world of numismatics.
The Design and Historical Significance of the Coin
The 1796 Draped Bust Quarter is notable not only for its rarity but also for its design, which reflects the early artistic efforts of the U.S. Mint.
- Obverse (Front): The coin features a portrait of Lady Liberty, designed by artist Robert Scot. Her hair is flowing behind her, and she wears a draped bust that gives the coin its name. The image of Liberty was intended to symbolize the ideals of freedom and democracy in the early United States.
- Reverse (Back): The reverse design features a small eagle with a shield on its chest, holding arrows in one talon and an olive branch in the other. This symbolizes the nation’s strength and readiness for both war and peace.
These designs helped define the aesthetic of early U.S. coinage and remain iconic to this day.
The Value of the 1796 Draped Bust Quarter
Given its rarity, historical importance, and design, the value of the 1796 Draped Bust Quarter is very high. Well-preserved examples can fetch over $500,000 at auction. Here’s how the value of this coin is determined:
| Factor | Impact on Value |
|---|---|
| Condition | Coins in better condition (higher grades) are worth significantly more. |
| Rarity | With only 6,146 coins minted, the rarity makes it highly valuable. |
| Historical Significance | As one of the earliest quarters, the coin’s historical importance adds to its worth. |
| Market Demand | The high demand among collectors also plays a key role in driving up prices. |
Some 1796 Draped Bust Quarters have sold for even more than $500,000, especially those in exceptional condition. Collectors constantly seek these rare treasures to complete their collections.
How to Identify the 1796 Draped Bust Quarter
If you’re lucky enough to find an old quarter, here are some tips to help you identify whether it’s the rare 1796 Draped Bust Quarter:
- Lady Liberty’s Profile: The obverse of the coin features a distinct portrait of Lady Liberty with flowing hair, a hallmark of the Draped Bust design.
- Small Eagle on the Reverse: The reverse displays a small eagle with a shield and arrows in its talons, which is a unique feature of this coin.
- The Year: Look for the year “1796” below Lady Liberty’s bust. The numbers are clear and easily recognizable.
- Size and Weight: The coin weighs approximately 6.74 grams and has a diameter of about 27 mm, which was typical for early U.S. quarters.
Given its age, you will likely need magnification to properly examine the features of this coin, especially the fine details of Lady Liberty and the eagle.
Conclusion
The 1796 Draped Bust Quarter is a rare and valuable piece of U.S. coinage that reflects the country’s early years and the artistry of its first mint. With only 6,146 coins produced and a design that speaks to the ideals of the young nation, this coin holds a special place in the hearts of collectors and historians alike. If you happen to come across a well-preserved specimen, you could be holding a coin worth over $500,000—a true numismatic treasure.
FAQ’s
What makes the 1796 Draped Bust Quarter so rare?
The 1796 Draped Bust Quarter is extremely rare because only 6,146 coins were minted, and it was quickly replaced with a new design in 1797, making it a highly sought-after collectible.
How much is a 1796 Draped Bust Quarter worth?
A well-preserved 1796 Draped Bust Quarter can be worth over $500,000, depending on its condition and rarity.
How can I identify a 1796 Draped Bust Quarter?
Look for the distinctive profile of Lady Liberty on the obverse and a small eagle on the reverse. The year “1796” is clearly marked, and the coin has a diameter of 27 mm.