For centuries, Spanish colonial coins circulated in the
Americas. The primary Spanish silver coin, the
Eight Reales, served as the
model for the U.S. silver dollar as the
Mint Act of 1792 was being drafted, in terms of size and
silver content.
Another Spanish coin, the smaller
Two Reales, also called "two bits" in
American vernacular, contained about 25 cents
worth of silver and circulated readily alongside the Eight Reales.
In 1796, the United States began minting the Quarter
dollar, with the idea that it would replace the Two Reales coin. As was
the standard for all U.S. silver coins that year, the 1796 quarter carried the Draped Bust design,
as seen directly below. The reverse side featured a small eagle atop a
cloud. A stunning example of the 1796 Draped Bust Quarter in MS-63 with
beautiful toning appears on our
home page.
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Draped Bust
Quarter Small
Eagle Specifications |
Diameter: |
Weight: |
Minted: |
Composition: |
Designer |
Edge: |
approx 27.5 mm |
6.74 g |
1796 |
.1076 Cu .8924
Ag |
Robert Scot |
Reeded |
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Coin Photos courtesy of
Ira & Larry Goldberg Coins & Collectibles, Inc., Beverly Hills, CA. |
For a while, however, the Two Reales won out. Faced with perennial
budgetary constraints, the fledgling Mint decided that since the Two Reales already
circulated in appreciable quantities, there was no need to spend scarce resources to make
additional 25 cent coins.
Consequently, no more quarters were issued by the United States until 1804.
The 1804 Quarter featured the same Draped Bust design, but the reverse was
dominated by a larger eagle, with the Great Seal of the United States emblazoned across its
chest. This "heraldic" eagle suggested power and strength, an image the
American people found more acceptable than its wimpy predecessor. The final year
of the Draped Bust Quarter was 1807, followed by an eight year absence of
quarter production.
The Capped Bust Quarter first appeared in 1815.
Since it was the practice of the Mint that one design be used for all
coins of the same metal, it was predetermined the new quarter would carry the
Capped Bust design as did the Half Dollar, which had been in production since
1807. Capped Bust Quarters were minted until 1838.
The Draped Bust and Capped Bust designs together comprise what numismatists
call "Early Quarters". There are a number of exceedingly rare dates
which have long held the fascination of coin collectors, and show great promise
for generations to come. One of them, the 1827, is so rare (maybe 20 or so
are known to exist), there is little chance for most coin collectors to actually
own one, unless you can afford to spend at least $40,000. The other Early Quarter key dates are:
As is always true when searching rare coins for
sale, don't buy these Early Quarters unless they've been certified by PCGS, NGC, ANACS, or ICG, or are being sold
by a reputable dealer, such as
Jakes Marketplace.
Key date Early
Quarters are offered for sale below
as a US coin eBay auction. The left
hand side of each "Sales Box" is value trend data over a very long period of
time for the highlighted quarter in G-4 condition. The percent annual
increase is computed for comparative purposes. Bear in mind, these are
genuinely rare coins, so quite frequently, none are for sale at a given
moment. Keep checking back. The coin pictured for
sale, if any, in the right hand side is not necessarily the same condition coin as that
represented in the value trend analysis on left hand side.
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1796
Dr Bust Quarter
Condition: G-4
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1804
Dr Bust Quarter
Condition: G-4
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Value Trends
1950: $35.00
1980: $1750
1995: $3500
2003: $6000
2007: $10000
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Value Trends
1950: $15.00
1980: $375
1995: $850
2003: $2500
2007: $3000
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% Annual Increase
Since 1950 =
10.43%
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% Annual Increase
Since 1950 =
9.74%
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1823
Dr Bust Quarter
Condition: G-4
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Value Trends
1950:
$175
1980: $1500
1995: $8500
2002: $9000
2007: $12500
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% Annual Increase
Since 1950 =
7.78%
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The Lewis and Clark Expedition took place from May 1804 to September 1806. Meriwether Lewis, William Clark, and their band of explorers returned
with important information about the U.S. territory gained from the
