Quarter from 1806 is Worth $58,750 at Auction
A 1806 U.S. quarter it recently made a splash in the industry after selling for a whopping $58,750 to a high bidder. The offered coin was a Draped Bust Quarter, one of the quarters known for its age and history, as well as for having minting errors that render it extremely valuable.
Background Story of the Coin
The 1806 Draped Bust Quarter was minted well over 200 years ago at the time of Thomas Jefferson. Coins from this period are worth collecting for the basic reason that they comprised early American history, but this coin has something a little special: a “missing serif” error on it. In simple terms, this means that tiny little stroke missing over the “E” in the word “LIBERTY” in which it was minted and messed up.
Why Is It Worth So Much?
Several reasons account for this 1806 quarter’s value. First and foremost, its age alone gives it a rarity. Coins of the early 19th century don’t pop up very often in auctions. Then there’s the mint error, a combination that makes dreams come true for collectors. The “missing serif” error is highly rare, with only a few examples known to exist. The flaw adds to the coin’s uniqueness and historical value. Of course, that only drives the price up.
Excellent Condition Is What Pops
The true showpiece of this auction lot was the condition. Coming in at an “AU-58,” this quarter is virtually mint-like for a coin of this age. In comparison to most coins minted during this time period, which have been heavily worn down from circulation, this coin holds its definition of original surfaces extremely well. Determined by the Professional Coin Grading Service, its “AU-58” grade was a critical factor in setting its price.
Bidding War at Auction
The sale opened at a relatively modest estimate, but collectors, once the word of the “missing serif” error got around, quickly paid attention. Bidding war ensued, and the final price became $58,750–well over what anyone originally estimated. This auction demonstrates how errors and conditions do turn a coin into a piece of history.
1806 Draped Bust Quarter Details
| Feature | Description |
|---|---|
| Year | 1806 |
| Coin Design | Draped Bust (Lady Liberty) |
| Material | 89.24% Silver, 10.76% Copper |
| Mint Error | Missing Serif on ‘E’ in LIBERTY |
| Condition (Grade) | AU-58 (Almost Uncirculated) |
| Auction Price | $58,750 |
| Historical Significance | Minted during Jefferson’s presidency |
| Auction Date | Recent, exact date undisclosed |
Why collectors love Error Coins
This missing serif on the coins tells us about some imperfections of early minting processes. Technology during the early 1800s was nowhere near the same level as in the present times; thus, mint errors were common. Very few examples of these imperfectly struck coins survive to date and are highly prized among collectors. Coins such as this 1806 quarter, unique in their imperfections, become headliners in any collection and usually appreciate over time
1. What is the “missing serif” error in the 1806 quarter?
The missing serif is shorthand for a small stroke missing from the letter “E” in the word “LIBERTY” on one side of the coin. It formed when this die defect happened during printing. There are only a few hundred missing serif errors known to man, so if you have one, you’re one lucky guy.
Inspect the word “LIBERTY” on the coin’s obverse-that is, the side of the coin showing you the front. If there is no serif or pointed stroke on the letter “E,” you may be holding an error quarter. Bring it into a professional grading service to authenticate.
3. Why is this so valuable?
Error coins are relatively rare because there are very few chances for error since the first nature of making coins is to perfect them; these errors, more often than not, will be the highlight of a coin collection, sparking many people’s interest, and only grow in value over time.
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