On November 2, 2023, a rare 1806 Draped Bust Quarter was auctioned for an impressive $58,750. This incredible price was due to its “missing serif” mint error—a feature that makes it a true gem for collectors. The coin, part of the Draped Bust series minted from 1796 to 1807, is not only rare because of its age but also because of this unique error, which adds to its historical and numismatic significance.
What Makes This Coin So Valuable?
This quarter’s value lies in its error variety. Coins with such errors are rare because mistakes during minting were uncommon, and many defective coins were remelted or corrected. Here’s a closer look at what sets it apart:
- The Missing Serif:
The coin’s reverse side features a subtle engraving error, where part of a letter’s serif is missing. This flaw, while tiny, significantly impacts its value. - Historical Significance:
Minted in 1806 at the Philadelphia Mint, this quarter is one of only 206,124 coins produced that year, making it a rare find. - Condition Matters:
The auctioned coin was graded MS64 (Mint State), indicating it’s in near-pristine condition despite being over two centuries old.
Draped Bust Quarters Overview
| Feature | Details |
|---|---|
| Designer | Robert Scot |
| Mint Location | Philadelphia |
| Material | 89.2% Silver, 10.8% Copper |
| Diameter | 27.50 mm |
| Weight | 6.74 grams |
| Mintage (1806) | 206,124 |
Why Are Error Coins Valuable?
Coins with errors are like hidden treasures for collectors. They tell stories about the minting process and provide a glimpse into the craftsmanship of the past. Here’s why they’re sought after:
- Scarcity: Errors are rare since mints usually catch and fix mistakes.
- Uniqueness: No two error coins are identical.
- Historical Insight: They reflect minting technology and practices of their time.
How to Spot Valuable Coins
Want to find a treasure like this in your collection? Here are some tips:
- Look for Errors: Check for missing letters, off-center strikes, or doubling.
- Inspect the Condition: The better the condition, the higher the value.
- Research Mintage: Lower mintage years often mean higher value.
- Get Professional Grading: Certified grading by PCGS or NGC can authenticate and enhance your coin’s value.
FAQs
What is a “missing serif” error?
A “missing serif” error occurs when part of a letter or numeral in the coin’s design is incomplete due to a minting defect.
How can I know if my coin is valuable?
Inspect your coins for unique features or errors, and consider professional grading for an accurate evaluation.
Are all Draped Bust Quarters valuable?
Not all are extremely valuable, but those with rare mint errors or in excellent condition can fetch high prices.
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