Did you ever think that one day an old coin can cost you $ 68 Millon (approximately 6.813 Million)? This is one of the shocking cases that have been revealed when a retired collector found a 1796 Draped Bust Quarter in an old antique chest. The finds of this coin have not only made a sensation in the coin collecting (numismatics) world, but also made a sensation among the history enthusiasts and investors.
The complete tale of the discovery- a rare treasure.
This coin has not been discovered in a store or during an auction, but has been discovered by a retired collector in a wooden chest, years old. This chest wasin the store of his house, and had not been opened, probably, for decades. When he opened it and looked at the coins inside it turned out to be a very rare 1796 Draped Bust Quarter.
1796 Draped Bust Quarter – What is so special about it?
Let’s understand why this coin is so special:
| Feature | Detail |
|---|---|
| Year | 1796 (only year this quarter was minted) |
| Reverse Design | Features a small eagle, used only in this year’s quarter |
| Total Mintage | Only 6,146 coins were made (5,894 in 1796 and 252 in early 1797) |
| Surviving Coins | Only about 615 coins are estimated to exist today |
| Grade | Only a few are graded Mint State (MS)-65 or higher |
| Valuation | The recently discovered coin is valued at $6.813 million (approx. $68 Millon ) |
Why does it have a special place in history?
The 1796 Draped Bust Quarter was America’s first quarter coin. It was designed by a designer named Robert Scott, whose designs were influenced by the famous painter Stuart. This coin was not only unique in design, but it was also the only quarter of the 18th century.
At that time, the US had issued coins like quarter, dime and quarter-eagle in silver denomination for the first time. But the 1796 Draped Bust Quarter was only made for one year, making this coin even more special.
What makes it so valuable?
- The first quarter in history: This is the beginning of America’s 25-cent coins.
- Made for only one year: Its “small eagle” design was only used in 1796.
- Very Low Production: Only 6,146 coins were minted and about 90% of them have been lost to the dust of time.
- High Grade Rarity: This coin is rare to find today in a condition as high as Mint State-67.
- Unique Find: The way this coin was found—hidden in an old chest for years—makes its story even more exciting.
Market Place – Comparison to Other Examples
- An MS‑66 rated Draped Bust Quarter sold for $1.74 million in 2022.
- Another coin in excellent condition sold for $2.35 million to GreatCollections.
- But now this newly discovered coin, thanks to its excellent grade and exceptional find, has been appraised at $6.813 million.
The Future of This Coin – What Happens Next?
Now that the coin has been revealed, the following process will be followed:
- Authenticity and Grading: It will be authenticated and graded by renowned grading agencies like PCGS or NGC.
- Auction o&r Private Sale: This coin can be put up for auction or sold to a private collector or museum.
- Possible Record Breaking Deal: Experts believe that its sale can set a new record in coins of American history.
Draped Bust Design – Introduction to Artwork
This design shows Liberty with open hair, which is a symbol of freedom and innovation. It was first adopted in 1795 and this design was seen on many silver coins till 1807.
Reaction of collectors and historians
Since the discovery of the coin, not only collectors but also historians are considering this event as “return of treasure”. From social media to newspapers, this discovery is being discussed everywhere. This is not just a coin, but a living proof of the early days of America.
Conclusion
Behind the 1796 Draped Bust Quarter there is not only the tale of a very costly coin, but of a historical heritage that lives on in old chests, antiques and the enthusiasm of collectors. This finding shows that history is not only buried in book, but also in the small things surrounding us. If you also have an old chest, cupboard, or safe, then who knows, there may be a similar priceless story of history hidden in it too!
FAQs
Q1: Has any 1796 quarter sold for millions before?
A: Yes. In 2022, an MS‑66 graded 1796 quarter was sold for around $2.35 million. However, the newly discovered coin, with potentially better grade and provenance, is valued even higher at $6.813 million.
Q2: What happens next to the coin after discovery?
A: It is expected to be authenticated and graded by a top coin grading service like PCGS or NGC. After certification, it will likely be auctioned or privately sold to elite collectors or museums.
Q3: Who originally designed the Draped Bust Quarter?
A: The obverse was designed by Robert Scot, influenced by painter Gilbert Stuart’s classical portraiture. Scot was the first Chief Engraver of the U.S. Mint.
Q4: Why was the 1796 quarter only minted for one year?
A: The U.S. Mint changed the reverse design from the small eagle to the heraldic eagle starting in 1804. The 1796 quarter was the only one minted in the 18th century, making it truly unique.
Q5: Could there be more rare coins hidden in old chests or collections?
A: Yes, discoveries like this show that rare coins can still be hidden away in private collections, chests, or safes, especially those passed down through generations without proper appraisal.
