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All Posts Tagged With: "Classic Coin Rarities"

Coin Rarities & Related Topics: 1796 quarter, San Francisco Liberty Seated Dimes, 1931 Denver Mint $20 gold coin

News and Analysis regarding scarce coins, coin markets, and the coin collecting community, #21

A Weekly Column by Greg Reynolds

Last week’s column was devoted to cents and half cents. This week, I am writing about a few silver coins and a 1931-D Saint Gaudens Double Eagle ($20 gold coin). Though 1931-D Saints may be extremely rare or almost so, the 1796 quarter and San Francisco Mint Liberty Seated dimes that I mention below are condition rarities rather than being extremely rare in absolute terms.

Recently, I have written about coins that are extremely rare in all grades, thus in absolute terms. In my column of Sept. 22, I wrote about the NGC graded “EF-45+” 1856-O Double Eagle that Heritage sold in September. It realized $345,000, which is a very strong price. Last week, I wrote about the 1795 Reeded Edge cent that the Goldberg’s auctioned for $322,000, even though it does not merit a numerical grade and is in a PCGS genuine holder. Early in the summer, in my column of June 30th, I wrote about Great Rarities that were then to be auctioned in Boston. I followed up with ‘news’ regarding these same Great Rarities in later columns, including my column of Aug. 11. As few collectors may own extremely rare coins, condition rarities, especially of coins that are scarce in absolute terms, should receive a great deal of attention and news coverage.

I. Choice 1796 Quarter

I really liked the 1796 quarter in the most recent Stack’s auction, which was conducted a few days ago in Philadelphia. I would admit that I was more enthusiastic about the Norweb 1796 in the Heritage ANA Auction in Boston. This one, though, is livelier. (As always, clickable links are in blue.)

This 1796 quarter was formerly in the official auction of the Summer 1976 ANA Convention in New York, a convention that reportedly drew more than 25,000 people. At a later time, it was PCGS graded MS-63. I thought that it was undergraded. Yes, there are some very small, though of medium depth, contact marks in the field to the viewer’s right on the obverse (front of the coin). Further, there is a significant small scratch near the last star. Additionally, there are minor hairlines on the eagle on the reverse (tail of the coin). These, though, are imperfections that can be consistent with a 64 grade, especially for a coin that has a lot of eye appeal and other positive characteristics.

This 1796 quarter is very attractive and even more so when it is tilted under a light. It has full, naturally reflective surfaces. At some angles, this coin nearly dazzles. While it is not unusual for a 1796 quarter to be semi-prooflike and some are very prooflike, this one has more personality than most other uncirculated 1796 quarters.

Some experts wondered about the naturalness of the pinkish-russet, blue and green shades. I maintain that the toning is natural. This coin may have lived in several envelopes, cabinets and/or albums, since 1796. It may possibly have been dipped at some point in the middle of the 20th century. (more…)