Can you imagine that an old coin can be worth $68millon (about $6.813 million) someday? One such shocking case has come to light when a retired collector discovered a 1796 Draped Bust Quarter from an old antique chest. The discovery of this coin has not only created a stir in the world of coin collecting (numismatics), but has also created a stir among history lovers and investors.
The full story of the discovery – a rare treasure
This coin was not found in a shop or at an auction, but was found by a retired collector from a years-old wooden chest. This chest was lying in the store of his house and was probably not opened for decades. It happened to be a very rare 1796 Draped Bust Quarter when he opened it and looked at the coins inside.
1 796 Draped Bust Quarter – What is so special about it?
Let’s understand why this coin is so special:
| Feature | Detail |
|---|---|
| Year | 1796 (only year this quarter was minted) |
| Reverse Design | Features a small eagle, used only in this year’s quarter |
| Total Mintage | Only 6,146 coins were made (5,894 in 1796 and 252 in early 1797) |
| Surviving Coins | Only about 615 coins are estimated to exist today |
| Grade | Only a few are graded Mint State (MS)-65 or higher |
| Valuation | The recently discovered coin is valued at $6.813 million (approx. $68Millon .) |
Why does it have a special place in history?
The 1796 Draped Bust Quarter was America’s first quarter coin. It was designed by a designer named Robert Scott, whose designs were influenced by the famous painter Stuart. This coin was not only unique in design, but it was also the only quarter of the 18th century.
At that time, the US had issued coins like quarter, dime and quarter-eagle in silver denomination for the first time. But the 1796 Draped Bust Quarter was only made for one year, making this coin even more special.
What makes it so valuable?
- The first quarter in history: This is the beginning of America’s 25-cent coins.
- Made for only one year: Its “small eagle” design was only used in 1796.
- Very Low Production: Only 6,146 coins were minted and about 90% of them have been lost to the dust of time.
- High Grade Rarity: This coin is rare to find today in a condition as high as Mint State-67.
- Unique Find: The way this coin was found—hidden in an old chest for years—makes its story even more exciting.
Market Place – Comparison to Other Examples
- An MS‑66 rated Draped Bust Quarter sold for $1.74 million in 2022.
- Another coin in excellent condition sold for $2.35 million to GreatCollections.
- But now this newly discovered coin, thanks to its excellent grade and exceptional find, has been appraised at $6.813 million.
The Future of This Coin – What Happens Next?
Now that the coin has been revealed, the following process will be followed:
- Authenticity and Grading: It will be authenticated and graded by renowned grading agencies like PCGS or NGC.
- Auction or Private Sale: This coin can be put up for auction or sold to a private collector or museum.
- Possible Record Breaking Deal: Experts believe that its sale can set a new record in coins of American history.
Draped Bust Design – Introduction to Artwork
This design shows Liberty with open hair, which is a symbol of freedom and innovation. It was first adopted in 1795 and this design was seen on many silver coins till 1807.
Reaction of collectors and historians
Since the discovery of the coin, not only collectors but also historians are considering this event as “return of treasure”. From social media to newspapers, this discovery is being discussed everywhere. This is not just a coin, but a living proof of the early days of America.
Conclusion
Behind the 1796 Draped Bust Quarter there is not only the tale of a very costly coin, but of a historical heritage that lives on in old chests, antiques and the enthusiasm of collectors. This finding shows that history is not only buried in book, but also in the small things surrounding us. If you also have an old chest, cupboard, or safe, then who knows, there may be a similar priceless story of history hidden in it too!
FAQs
Q1: What is the 1796 Draped Bust Quarter and why is it so valuable?
A: The 1796 Draped Bust Quarter is the first 25-cent coin ever minted by the United States. It is extremely valuable due to its historical importance, low mintage (only 6,146 coins), and rarity in high-grade condition. The specific coin recently discovered is valued at $6.813 million because of its excellent preservation and unique backstory.
Q2: How was this rare coin discovered?
A: It was found by a retired collector inside an antique coin chest. The chest had been stored away for decades and the coin went unnoticed until recently, making it a classic case of a “hidden treasure.”
Q3: What makes this particular 1796 quarter stand out from others?
A: This coin is believed to be in extremely high mint state (MS-66 or MS-67), a grade that is incredibly rare for coins of that era. Its condition, combined with its dramatic discovery and historical value, significantly boosts its market price.
Q4: What is special about the design of the 1796 quarter?
A: The quarter features the Draped Bust of Liberty on the front and a small eagle within a wreath on the reverse. The small eagle design was used only in 1796, making this coin a one-year-only issue.
Q5: How many 1796 quarters are known to exist today?
A: Experts estimate that about 615 specimens still exist today out of the original 6,146 minted, which is approximately 10%.
