A RARE 1806 Draped Bust quarter could bring in an astonishing $58,750.
This staggering value comes down to one key detail and coins like this, marked by rare production flaws and fascinating histories, hold value for collectors.
This coin is already sought-after, boasting a modest mintage of just 206,124 pieces.
What sets this particular example apart is its variety.
Known as the B-3 variety, it’s distinguished by a tiny but significant flaw — the lower-left serif on the number 1 in the date is missing, per Heritage Auctions.
This error, paired with the 12 arrowheads featured on the reverse of the coin, makes it one of the most coveted pieces from the early 19th century.
Coin specialists like Steve Tompkins, who have cataloged early American coins in immense detail, have ranked this B-3 variety as one of the finest examples of its kind.
In fact, only one other coin has ever received a higher grade from the Numismatic Guaranty Corporation.
This specific quarter ranks MS65, meaning it’s in near-perfect condition despite being more than 200 years old.
COMPLICATED HISTORY
The story of how the B-3 variety came to exist is fascinating. Both the obverse (front) and reverse (back) dies used to mint this quarter were also used for other varieties.
For example, the obverse die also struck coins in the B-2 variety, while the reverse die worked for the B-4 variety.
After the B-4 coins were made, the same dies were paired again to create more B-3 quarters, an event known as a “remarriage” of the dies.
Documenting these remarriages is no small task. It requires experts to closely examine multiple versions of each variety, identifying tiny differences in how the coins were struck.
In this case, the final run of B-3 quarters, such as the one that might fetch $58,750, represents a significant piece of numismatic history.
WHY CONDITION MATTERS
The value of any rare coin depends on its condition, and this 1806 quarter is no exception.
This particular coin is not just rare because of its B-3 variety but also due to its remarkable preservation.
How coins are graded
Coins are graded on a scale of one to 70, with one being the poorest grade, and 70 being the most pristine example.
Numbers 60 to 70 are generally the most sought-after by collectors and are known as Mint State coins.
Pieces that fetch thousands at auction are commonly found in MS67, MS68, and MS69 conditions.
An MS-70 is near-impossible to find among older coins.
The coin’s surface is frosty and highly lustrous, with only a few minor imperfections, such as a small impurity on the obverse rim.
A coin in this condition is incredibly rare, making it even more desirable to collectors. It also features faint traces of champagne toning, a subtle coloring effect that adds to its visual appeal.
While there is some weakness in the strike near the lower part of the obverse and the upper part of the reverse, these details do not detract from its overall value.
This quarter has a rich auction history, having passed through several significant collections over the years.
Some notable sales include:
- The ANA Signature auction in 1997
- The Richard Jewell Collection in 2005
- The FUN Signature auction in 2009
Each time, the coin has gained more recognition and admiration among collectors.
Its journey through the hands of dedicated numismatists only adds to its allure.
Weighing 6.74 grams, this quarter is composed of 89.24% silver and 10.76% copper, standard for its time.
With its rich history, rare die varieties, and unique error, this 1806 Draped Bust quarter is truly a gem.
