1796 Quarter Sells for $1.5 Million In Heritage Auction

November 18th, 2013 by

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photo: Heritage Auctions (ha.com)

A 1796 U.S. silver quarter sold for $1.5 million in the auction of the Eric P. Newman Collection at Heritage Auctions. This was the first year the United States quarter was made, and less than 6,000 were struck. From this number, fewer than 500 are known to survive, in any condition.  This particular coin was graded Mint State 67, and is the finest coin of its kind in the world.

This quarter was purchased by the 102 year-old Mr. Newman for $100 in the 1930s, and was one of 1,800 coins auctioned off by Heritage in two New York sessions. Total sales (including buyer’s premium) were $23 million, the proceeds from which will go to Newman’s non-profit numismatic education society and museum on the grounds of Washington University in St. Louis.