A Magnificent Example of the Rare 1796 Quarter B-1 Variety at Heritage Auctions
A stunning specimen of the rare B-1 variety of the 1796 quarter will be a highlight at the Heritage Auctions U.S. Coins Signature Auction, taking place from April 3 to 6.
This 1796 quarter dollar (graded MS61 by PCGS) comes from the Frost Collection and is considered one of the scarcest coins of its kind.
Todd Imhof, Executive Vice President at Heritage Auctions, explains, “The B-1 variety is rarer, especially in Mint State condition, with only about one-third the number of examples compared to the B-2. This particular coin is exceptional, ranking low on the Rea-Polizio-Moulton Census, with only a few higher-graded examples.”
With a small original mintage, it is estimated that only about 100 Mint State 1796 quarters still exist. Despite being highly collectible, the supply of Uncirculated specimens is far too limited to meet demand, making coins like this one extremely desirable for serious collectors.
The Frost Collection itself is a prestigious selection of high-grade early silver and copper coins, featuring many sought-after items. Of the 64 lots offered from the collection, 23 will appear in Thursday’s Premier Session. Other notable pieces include Proof Indian Head Cents—such as an 1862 PR66 PCGS and an 1885 PR68 PCGS Red and Brown—plus nearly a dozen Standing Liberty Quarters, including a 1916 MS66 PCGS and a 1919 MS67 Full Head PCGS.
Additional Highlights in the Auction
Among other rare coins featured in this auction is a 1795 Flowing Hair, Three Leaves, B-5, BB-27 Dollar, graded AU58 PCGS with CAC approval. This nearly Mint State Flowing Hair Dollar is highly sought after by early dollar collectors.
Also offered is an 1895 Morgan Dollar, PR64 PCGS, a highly prized Proof-only coin. Though 12,000 standard silver dollars were reportedly minted in June 1895, none are known to exist today, likely melted after the Pittman Act of 1918.
The 1929 double eagle, despite a large mintage of over 1.7 million, is among several scarce coins from the end of the Saint-Gaudens series (1907-1933). While PCGS CoinFacts estimates around 1,000 surviving coins, Heritage experts believe the actual number is closer to 350-400, including an MS65 PCGS example featured here.
Other key pieces include an ultra-rare 1795 Half Dime LM-3 variety, MS63 PCGS with CAC, known for its exceptional strike quality, and a 1915 Indian Eagle PR66 NGC, one of only 75 Proof examples minted before Proof production ended.
A 1912 Indian Eagle PR66 NGC is also up for auction, with only 83 sold and many melted afterward. This coin is one of just nine graded MS66, making it particularly rare.
Lastly, an 1881 Double Eagle AU53 PCGS is included. Mint production was limited due to Treasury instructions in the 1880s, and estimates suggest only 40 to 60 survive today.
FAQ
Q: What makes the 1796 quarter B-1 variety so rare?
A: The B-1 variety is less common than the B-2, especially in Mint State condition, making it much harder to find in high grades.
Q: How many 1796 Mint State quarters are estimated to still exist?
A: Approximately 100 Mint State 1796 quarters are believed to survive.
Q: Why are 1895 Morgan Dollars only known in Proof condition?
A: While circulation strikes were reportedly made, none have been found and are thought to have been melted down after the Pittman Act of 1918, leaving only Proof coins.
Q: What is the significance of the 1915 Indian Eagle Proof coin?
A: Only 75 were minted, and many may have been melted later, making it one of the rarest and most desirable Proof gold coins for collectors.
