GreatCollections Acquires 1796 Quarter for $2.35 Million
vulcanize
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As the first major U.S. coin rarity to transact in 2022, GreatCollections is pleased to announce the acquisition of one of the finest 1796 Quarters known at $2.35 million. Formally from the Pogue Collection, it is graded MS-66 by PCGS with CAC approval.
Representing a 38% premium to the PCGS Price Guide value at $1.7 million, the sale further confirms the strength of the overall coin market, after a significant number of record prices were set in the second half of 2021.
“We have wanted to acquire this particular 1796 Quarter for some time due to its superior eye appeal. It ranks as the second finest with CAC approval with an impeccable pedigree dating back over a century. This is a coin that is highly sought after in all grades, needed for sets of quarters, type sets, collections of key dates, not to mention rarity collectors,” said Ian Russell, President of GreatCollections.
GreatCollections purchased the coin from Blake Duncan of U.S. Coins based in Houston, who had previously sold the coin to a private collector two years ago.
The pedigree of this particular 1796 Quarter dates back to 1922, where it was sold as part of the Ten Eyck Collection. It then appeared in the 1960 auction of the Milton A. Holmes Collection.
In 2015, its last auction appearance was part of the impressive Pogue Collection, of which it was considered one of the special highlights.
All one-year type issues are popular among collectors, but in addition, 1796 was the first year that the quarter denomination was issued for the then-young United States. It took another eight years before they were issued again in 1804, and by then, the design had changed with the addition of “25” for the denomination and “E PLURIBUS UNUM” both on the reverse.
This is yet another major rarity to be acquired by GreatCollections over the past 12 months.
Other high-profile rarities include the finest 1804 Draped Bust Silver Dollar PCGS Proof-68 for $7.68 million, 1861 Paquet Liberty Gold Double Eagle PCGS MS-67 CAC for $7.2 million, and 1794 Flowing Hair Silver Dollar PCGS MS-66+ CAC for $6.6 million. In November, GreatCollections purchased the finest 1913 Liberty Nickel and second 1804 Draped Bust Silver Dollar in a three-coin transaction for $13.35 million.
Source: coin week.com/us-coins/greatcollections-acquires-1796-quarter-for-2-35-million/
Comments
A beautiful quarter. A true dream coin.
Hella nice coin!
Nice coin
Provenances for the top 1796s and photos of several are at the usual spot:
https://www.pcgs.com/coinfacts/coin/1796-25c/5310
The provenance for the above coin (#3 on the list) is shown as:
The Eliasberg SP-66 is the #2 and can be seen in the 2014 auction:
https://coins.ha.com/itm/early-quarters/quarters-and-twenty-cents/1796-25c-b-1-r4-sp66-pcgs-pcgs-1138919-/a/1208-5565.s
And the #1 is an MS-67 shown at CoinFacts.
That coin is amazing... such detail on a 226 year old coin.... Certainly well preserved and cared for. Makes one wonder about it's history for the 126 years prior to the Ten Eyck possession. Cheers, RickO
J Paul Getty once said he preferred rare collectibles to people because they were changeless.
Does GC collect as well as just auction coins and currency?
They have a "client" for these (at least for the others,s, so i am sure that is where this is going), who just happens to own the 1933 Saint.
Our core focus is building our weekly auctions of coins and currency, however, we also manage wantlists for clients - which are fairly extensive and diverse. We have been lucky enough to acquire some amazing coins (and even some sets/collections intact) over the past year, a small number we have put out press releases for.
This 1796 Quarter was on our radar for a while, and we have multiple clients wanting it. It was not cheap, but in today's market, quality costs more and it's one of three coins that are in a league of their own for the date - plus it's one-year type, CAC, superb, proof-like and so forth.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Well, that's settled then, it's not me coz I only own a copy
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Avery nice acquisition by GC and or their buyer.
Thanks for the post and great pictures.
Wayne
Kennedys are my quest...
Gee, I thought I was the only GC client this VERY SPECIAL gorgeous Quarter was intended for, only to now read Ian has multiple clients wanting it (just kidding, lol, in my dreams).
In all seriousness, Ian and GC should be congratulated for once again rising to the top in brokering another of our hobbies true TOP rarities!
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Congratulations to the client who added this enormous piece to their collection. I, for one, will never fully understand the scope owning such a great coin. I don't believe few can.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Please count me in for the generous giveaway, thanks Ian
11.5$ Southern Dollars, The little “Big Easy” set
Congrats. That's a gorgeous coin and huge price!
This sold for $1.5 million back in 2015 on an estimate of $700k to $1m. This turns out to be a 6.5% annual gain.
I love everything about this special coin.
Simply amazing
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Just amazing! The artistry and craftsmanship that created that coin is inspiring - and done with 18th century technology!
Are adjustment marks to make them fit in vending machines?
Just super!
Just fantastic!
100% Positive BST transactions
WOW! WOW! WOW! I have been studying early quarters including 1796 quarters for many years and I saw this coin before Pogue bought this coin and before the Pogue sale. Personally, this is my favorite 1796 quarter and congratulations on securing such a fabulous coin and truly a numismatic treasury. Ian, keep up the great work in acquiring the creme de la creme.
>
How does one handle the situation where multiple clients want the same coin? Highest bidder? First to reply?
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
a true treasure which we dont see every day. best wishes all
Though I hate to monetize the discussion of such a beautiful coin, it's hard not to think about it when the sums involved are so large. If the owner had bought an S&P500 based mutual fund - which is my benchmark for the easiest, liquid-est, arguably safest investment anyone can make - on 5/19/2015 for $1.53M, yesterday that investment would be worth $3.35M. So one could argue owning that coin for seven years cost $822,786. I'm not saying that's a bad thing, it could well be for a very wealthy individual owning that coin brought more than $822,786 in joy. And since no one can predict the future he or she could have made a different investment with a much worse outcome.
Edit: I notice the coin had at least two owners over that period, but I don't think that changes the point.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Hey savitale - while I agree with you about comparing how one can invest money, your really not looking at it the proper way. You are playing Monday morning quarterback. Its easy to compare financial returns to another investment after the fact and draw a conclusion. But this is not realty. One never knows what the return will be on an investment until they cash out. So to quantify return or comparing returns for 2 different investments is just plain wrong after the fact. Did you notice that the Simpson 1795 Eagle that he bought in the Pogue auction for about $1 million in 2015 sold on Thursday for $3.3 million. This coin tripled in value over a 6 year period. If you compared that to the S&P index, this coin outperformed the S&P, but if you compared this return to some cryptos, the return was horrible.
Bottom line - This 1796 quarter is a true treasure and the pinnacle of US early quarters. I hope the owner of this coin, enjoys owning the coin as much as I enjoy viewing it over the years.
Also, for those that view coins solely as an investment, remember the best investors diversity. Just my 2 cents.
I think most collectors who spend a million plus dollars on a coin are using discretionary funds and aren’t overly concerned about the ROI. It’s also impossible to quantify monetarily how much pleasure the new buyer of this coin will derive from ownership.
I think the majority of collectors (who likely don't own any slabbed coins) would incorrectly assume the same of many of us, who collect 3,4, and 5-figure slabbed coins. Speaking for myself, I'm using discretionary funds, but I'm also acutely aware of the opportunity cost of owning coins, the ROI, and alternative investing opportunities. For me, this calculation includes both the financial side (pure math) and emotional side (personal enjoyment) but I'm not ignorant of either side of the equation.
Most people with money are incredibly aware of the details. That's how they got it and kept it in the first place.
Congrats to GC. This is a magnificent coin, and it's amazing that it somehow remains in this condition.
So the question is: Is GC representing a whale or is @ianrussell building one heck of a personal collection/retirement portfolio? Regardless congratulations on the new acquisitions.
Carefully. We're very big on full disclosure, so it's not a surprise.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
That is, of course, saying it mildly.
Pete
Like I said when Bruce sold his “Holy Trinity”- nothing wrong with taking a little profit in a coin bull market. We’re only temporary custodians of these treasures and they will all be back around again.
Congrats to Great Collections and those involved! Another great coin.
www.paradimecoins.com - Specializing in Top Pop Type PCGS CAC coins. Subscribe To Our NEWPs Mailing List
An exceptional coin from a very talented engraver.