United States' first quarter dollar is among the early rarities from
the first years of the Philadelphia Mint highlight Scotsman Auction
Co.’s Collectors’ Auction, set for Oct. 16 at the Saint Charles
Convention Center in metropolitan St. Louis.
376, a 1796 Draped Bust quarter dollar graded MS-63 by Numismatic
Guaranty Corp., is poised to crack six figures when offered.
Representing the first year that the quarter dollar denomination was
struck for circulation, the one-year type is popular with type
collectors and early quarter dollar specialists alike.
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last appeared at a July 20, 2014, auction by GreatCollections.com
where it sold for $144,100. Previously, it had appeared in Ira and
Larry Goldberg’s Feb. 18, 2002, auction of the Benson Collection where
it realized $37,950. That catalog entry called the quarter dollar “the
poster coin for the Benson collection as it embodies the rich toning
seen on virtually all of the coins from this group.”
coin has the look of many of Benson’s silver coins, with rich toning
at the edges that is most likely the result of long-term storage in a
another unusually candid disclosure, the Scotsman catalog writes that
many of the Benson coins “were lightly cleaned, as was the custom of
the early 20th century, then placed into old albums, thus presenting
the ideal environment for highly regarded (and highly prized) ‘album
firm adds that despite the cleaning, the market grade is appropriate,
“Given that the surface is otherwise noticeably free from any other
distractions and lacks any distinguishable contact marks, it is safe
to say that the NGC ‘net MS-63’ grade was assigned on that basis.”
description then compares the coin to an NGC MS-67+ ★ example that
brought $1,527,500 at Heritage’s Nov. 15, 2013, auction of the Eric P.
Newman Collection, writing that, while Newman’s example “obviously
showcased technical quality of an astonishing level,” the toning of
the Benson coin is similar to that on the Newman coin.
expensive 18th century rarities offered at Scotsman’s auction include
a 1795 Flowing Hair, Three Leaves silver dollar graded MS-63 by PCGS
with an estimate of $110,000 to $120,000 and a 1796 Draped Bust, Large
Date, Small Letters dollar graded MS-61 by NGC that Scotsman
anticipates will bring in excess of $60,000.