1804 25C MS(PCGS#5312)

November 2025 Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

2054

等级

XF40

价格

255,976

详细说明

Tompkins Die Stage 1/3, Rea et al. Die State indeterminate. Offered is an uncommonly well defined example of this eagerly sought early quarter dollar issue. The strike is nicely centered, isolated softness within the border denticulation notwithstanding, and the major design elements show universally bold to sharp definition in the absence of all but light wear. The surfaces are generally light silver with hints of warmer pewter evident as the coin rotates under a light. Subtle traces of mint frost persist, and none of the wispy handling marks are worthy of undue concern in an EF grade Draped Bust quarter.<p>Since Spanish colonial 2 reales were plentiful and widely used in domestic circulation at the time and, once dollar coinage was suspended in 1804, contemporary silver bullion depositors favored the half dollar for export and other large transactions, quarter dollars were produced in relatively limited numbers most years during the first half of the 19th century. Some years saw no coins of this denomination struck and, indeed, the 1804 is the first quarter dollar produced in the United States Mint since 1796. It is also the first issue in the Heraldic Eagle portion of the Draped Bust series, and a key date coin with a mintage of just 6,738 pieces. Browning-1, offered here, is the more frequently encountered of the known die marriages. It shares its reverse with the 1804 B-2 and 1805 B-1 pairings, but is readily attributable by the presence of a die scratch (as made) on the obverse in between stars 8 and 9. A small number of Mint State examples are known, making up the Condition Census for the 1804 B-1, but such pieces are very rare in an absolute sense. This variety is also elusive in Extremely Fine and About Uncirculated preservation, for such early U.S. Mint silver issues saw heavy commercial use in an era long before there was numismatic demand for these coins. This pleasing EF example represents a significant find in today's market and would serve as a focal point in many advanced collections.<p>The Rea et. al. die state progression for this variety is confused. While the obverse of the present example is perfect, corresponding to their Die State P, the reverse corresponds to their Die State c with a crack through the tops of the letters in AMERICA, and another from the top of the letter U in UNITED into the bases of the digits 25 in the denomination.