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Images courtesy of Professional
Coin Grading Service
Significant examples:
PCGS MS-67 (illustrated above)
- Knoxville collection
NGC MS-63 (illustrated below).
Ex - Ira
& Larry Goldberg Coins & Collectibles, Inc.'s "Benson
II" sale, February 18-19, 2002, Lot 685, illustrated, where it
was described as follows: "1796. Browning-2, Rarity-3. NGC graded
MS-63. Here is the poster coin for the Benson collection as it embodies
the rich toning seen on virtually all of the coins from this group. Note
the especially bright centers and rich, iridescent blue tones at the rims.
As to the strike, it is full for this variety, the eagle's head is
characteristically weak, as nearly always seen for this variety.
Quarters were first issued in 1796, and were not struck again until 1804.
Further, the draped bust, small eagle reverse type was issued in very
sparing quantities, and perhaps 500 exist today in all grades. The
combined PCGS and NGC population reports show less than 50 graded in
various mint state grades. This coin resides solidly in the choice
category, with its regal toning and prooflike fields. Liberty's hair, and
the eagle's feathers, are especially well struck. Liberty's hair is as
boldly rendered as we can imagine. We do note moderate hairlines on the
delicate fields from an ancient cleaning, and these apparently limited the
grade. This particular coin is identifiable by a tiny mint caused
rectangular planchet flake nestled in the field between the back of
Liberty's curls across from the fourth star. Free of adjustment marks or
other detractions, this stunning beauty will certainly be the highlight of
an advanced collection.
In the summer of 1795 the new Mint Director Henry William DeSaussure
arrived at the Philadelphia Mint with two goals that he immediately
addressed, the first was to coin gold for circulation, and the other was
to improve Robert Scot's flowing hair designs then in use. While the
necessary bond was being met that allowed coinage of gold to begin,
DeSaussure engaged the famed portraitist Gilbert Stuart to submit drawings
that could replace the unpopular flowing hair designs. Stuart submitted a
sketch of the local beauty Anne Willing to the Mint around August of 1795,
and by October two obverse dies were prepared for silver dollars. John
Eckstein, and assistant engraver at the Mint, had translated Stuart's
drawing into the now familiar draped bust design. Eckstein also is
credited with the small eagle reverse design. During this period, the Mint
had prepared dies that employed 15 stars, representing the 15 states then
in the new union. By 1796, Tennessee was prepared to join the union as a
state, and this was officially accomplished on June 1, 1796. However, the
two new quarter obverse dies both used only 15 stars, apparently having
been engraved prior to the official notice. The new quarter denomination
was struck on four different occasions, beginning April 9, 1796, and
continuing until February 28, 1797. Two die varieties were coined, and
this is the more common of the two.
Many of the new quarters were saved as the first of their kind, and
several known have prooflike surfaces which have long been considered
special strikings, presentation coins, or simply proofs, although no Mint
record yet discovered confirms a special striking. Col. E. H. R. Green
(son of the millionaire Hetty Green) collected coins early in the last
century and amassed a staggering hoard of 1796 quarters. It is believed
that Green obtained over 200 1796 quarters, at least half of which were
prooflike, as seen here. The late Abe Kosoff and Andre DeCoppet dispersed
these quarters in the 1940s, and it is reasonable to assume that this coin
came from the Green hoard.", sold for $37,950.00
Recent appearances:
AU-50, obverse field tooled, whizzed, retoned (illustrated below). Ex - Heritage Numismatic
Auctions, Inc.'s "2000 Santa Clara" Sale, November 16-17,
2000, Lot 5256, illustrated, not sold, where it was described (in part) as follows: "B-2,
R.3. As the first U.S. quarter and the only issue of the Draped Bust,
Small Eagle variety, the 1796 is an understandably important coin. With a
paltry original mintage of 6,146 pieces, this issue is also a well
respected rarity in all grades. This is a not unattractive coin despite
several impairments. The denticles are crisply defined and the central
devices are equally as sharp except for the eagle's head. The surfaces are
remarkably smooth, although this is probably due to tooling and whizzing
rather than careful preservation. Both sides display deep charcoal-gray
coloration with copper highlights on the obverse."
About Uncirculated. Ex - Stack's
"The Marvin Taichert Collection of U.S. Type Coins", May 9,
2001, Lot 24, plated, sold for $23,000.00 Ex Auction '90,
(Stack's session, August 10, lot 133)
Sharpness of AU-50 but
buffed, cleaned, and not original. Ex - Ira & Larry Goldberg Coins & Collectibles, Inc.'s
"Benson Collection, Part I", February 16, 18-20, 2001, Lot 1615,
"Browning-2, Rarity-5", illustrated, sold for $10,925.00
PCGS VF-25. Ex - William
Walser - Bowers & Merena Galleries "The Rarities Sale", July
31, 2002, Lot 172, illustrated, "...Perfect dies...", sold for $13,800.00
Fine-12 Rim Filed. Ex- Heritage Numismatic Auctions, Inc.'s
"October 2000 Long Beach Sale", October 5-7, 2000, Lot 6757,
"Browning-2", illustrated, sold for $5,290.00 Ex: Harold A. Blauvelt Collection
(Bowers&Ruddy, 2/77) lot, 283.
Fine. Ex - Stack's "65th Anniversary Sale", October 17-19,
2000, Lot 674, "Browning 2", plated, sold for $2,070.00
VG-10, Light scratches. Ex - Heritage's "Long Beach Signature
Sale", May 31-June 2, 2001, Lot 5559, plated, sold for $3,910.00
From the Collection of Dr.
Joseph M. Seventko
PCGS VG-10. Ex - Bowers & Merena Galleries' "The
Cabinet of Lucien M. LaRiviere, Part III", May 21, 2001, Lot 1429,
illustrated, sold for $6,900.00
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