Draped Bust Quarter (1796 – 1807)

#1 Draped Bust Quarter Buyer Las Vegas & Henderson

History

Although authorized in 1792, the Draped Bust quarter dollar was not minted until 1796 and the series was only issued through 1807. The coin contains approximately 90% silver and 10% copper, (the exact fineness being .8924 silver and .1076 copper). It weighed 6.74 grams and had a diameter of 27.5 mm. The Draped Bust quarter dollar was only minted at the Philadelphia mint. The front, or “obverse” of the coin shows a bust of Liberty with long hair tied back with a ribbon. The term “draped bust” comes from the fact that Ms. Liberty has her bust encircled by the draping of her dress. Liberty is surrounded by fifteen stars representing the number of states of the union upon the date of issue. The word “Liberty” appears above her image. On the back of the coin or the “reverse”, there is what is referred to as a small eagle, a somewhat emaciated bird that at first glance does not even appear to be an eagle. The eagle is surrounded by branches with a ribbon at the bottom of the coin. Outside of the branches are the words, “United States Of America”. No denomination appears on the coin.

The aforementioned design of the Draped Bust quarter dollar was only in place for the initial minting in 1796. No additional mintage occurred until 1804 when a major design change was made to the reverse of the coin. In the 1804 design, the image of Liberty was made a bit more slender and the number of stars surrounding her was reduced to thirteen representing the original colonies, but the major change was made to the eagle on the reverse. This change involved replacing the small eagle with a much more robust “heraldic” eagle with a shield on its chest. Additionally, the eagle has a ribbon displayed across its neck with the words, “e pluribus unum”. Thirteen stars were added above the eagle representing the thirteen original colonies. The words, “United States Of America”, surround the eagle above and outside the eagle’s image.

As some of our earliest coinage, Draped Bust quarter dollars are prized among collectors and common date examples are somewhat reasonably priced in lower grades, with about good condition examples selling for $200 to $300. However, because so few were minted in the first year of the series, they are quite expensive in any level of preservation. An almost good example of that year, just clear enough to identify the basic details of the coin, can be worth over $7,000. High mint state examples of all coins in the series can range from the tens of thousands to over $160,000. One particular example of the 1796 coin in exceptional condition sold at auction for over $1,500,000.

Value

Because there are so many varied opinions on the condition (or grade) of a coin, the values mentioned reflect the highest retail prices that have been obtained for those coins that have been assessed by a third party grading company. Such coins have been authenticated, graded and encapsulated by expert coin grading companies to minimize any doubt as to their authenticity, quality and value and therefore their potential worth.

We Buy Draped Bust Quarter Dollars

We want to buy your coins and as a business it is our pledge to offer you the best value for your coins, however, always remember that the prices you may find online or in price guides usually represent the highest retail value for the coin in an already certified condition. As a trusted dealer we will have our coin specialists evaluate your coins at no cost and offer you a price that is both fair for you, but that also allows us to realize a reasonable profit.