A rare 1806 Draped Bust quarter fetched an astonishing $58,750 at auction. This remarkable price was due to a unique minting error: a missing serif on the number ‘1’ in the date. citeturn0news12
A Glimpse into the Past
The 1806 Draped Bust quarter is a piece of American history. Minted over two centuries ago, it features Lady Liberty on the front and an eagle on the back. Only 206,124 of these coins were produced, making them rare collectibles today. citeturn0news12
The ‘Missing Serif’ Error
A tiny flaw sets this particular coin apart: the lower-left serif on the ‘1’ in the date is missing. A serif is a small line or stroke attached to the end of a letter or number. This subtle error occurred during the minting process and is known as the B-3 variety. Collectors highly prize such imperfections because they are rare and add a unique story to the coin. citeturn0news12
Why Condition Matters
The coin’s condition, graded as MS65, indicates it is in near-perfect state despite its age. Coins are graded on a scale from 1 to 70, with higher numbers representing better preservation. An MS65 grade means the coin has minimal wear and retains much of its original detail and luster. This exceptional condition significantly increases its value. citeturn0news12
The Auction Journey
This coin has a rich history of changing hands among collectors. It has been part of several significant collections and has appeared in multiple auctions over the years. Each time, its value and recognition have grown, culminating in the recent sale for $58,750. citeturn0news12
Understanding Coin Grading
Coins are graded to assess their condition and value. The scale ranges from 1 (poor) to 70 (perfect). Grades from 60 to 70 are considered Mint State (MS) and are the most sought after by collectors. An MS65 grade, like that of this 1806 quarter, indicates a coin in near-perfect condition with only minor imperfections. citeturn0news12
The Significance of Minting Errors
Minting errors, such as the missing serif on this coin, occur during the production process. These errors are rare because the mint aims to produce flawless coins. When such mistakes do happen, they create unique variations that are highly valued by collectors. Each error tells a story about the coin’s creation and adds to its historical significance. citeturn0news12
A Collector’s Dream
For coin enthusiasts, owning a piece like this 1806 Draped Bust quarter is akin to holding a tangible piece of history. Its rarity, unique error, and excellent condition make it a prized addition to any collection. The recent auction highlights the enduring appeal and value of such numismatic treasures.
The 1806 Draped Bust Quarter
| Feature | Description |
|---|---|
| Year Minted | 1806 |
| Design | Lady Liberty on the front; Eagle on the back |
| Composition | 89.24% Silver, 10.76% Copper |
| Mintage | 206,124 coins |
| Error Type | Missing lower-left serif on the ‘1’ in the date (B-3 variety) |
| Condition Grade | MS65 (Mint State 65) |
| Auction Sale Price | $58,750 |
Frequently Asked Questions (FAQs)
1. What makes the 1806 Draped Bust quarter so valuable?
– Its value stems from a rare minting error (missing serif on the ‘1’), its limited mintage, and its excellent condition.
2. How is coin grading determined?
– Coins are graded on a scale from 1 to 70, assessing factors like wear, luster, and overall appearance. Higher grades indicate better preservation.
3. Why are minting errors significant to collectors?
– Minting errors are rare and create unique variations of coins, adding to their historical significance and desirability among collectors.
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