Draped Bust Quarter Values & Mintages

Grading tips

Check the hair above Liberty's forehead, the drapery at the bust and the eagle's breast feathers. Adjustment marks from the planchet filing are normal and not damage.

Two bits before the quarter

When the first quarters appeared in 1796, Americans already had a coin that did the same job. The Spanish two-real piece, worth a quarter of a Spanish dollar, circulated widely and was legal tender. Depositors bringing silver to the Mint seldom asked for quarters, so only a little over six thousand were struck in 1796 and none for the next seven years.

The 1796 quarter carries no denomination anywhere on the coin. Users were expected to recognize its size and weight. Its small eagle reverse shows the bird standing on clouds inside a wreath, the same design used on other silver coins of the time.

The heraldic eagle quarters of 1804 to 1807

When quarter production resumed in 1804, the Mint used a heraldic eagle reverse based on the Great Seal. It added the denomination 25 C. below the eagle, making the 1804 the first US quarter to show its value. Coins were struck in 1804, 1805, 1806 and 1807. The 1806/5 overdate is the main variety. The 1804 is the key of the heraldic eagle type.

After 1807 the Mint concentrated its silver output on half dollars, which banks preferred. The quarter would not be struck again until 1815.

Why so many 1796 quarters survive in high grade

For a coin with such a small mintage, the 1796 is found surprisingly often in high grade. Many appear to have been saved at the time as souvenirs of a new denomination. Some show prooflike surfaces from freshly polished dies. These coins are still very scarce, but a collector looking for a well-preserved example has more options than the mintage suggests.

Attribution and authenticity

Specialists attribute Draped Bust quarters by Browning numbers, which identify each die pairing. With only five dates, the series has fewer marriages than the half dollars of the same era, so a full variety set is within reach for a dedicated collector with a large budget.

Every date in the series has been counterfeited. Fakes often have wrong weight, soft or mushy details or a seam on the edge. Buy certified coins, check the weight against the standard of 6.74 grams and look closely at the reeding and lettering.

The quarter's place in the 1796 coinage

The year 1796 was a busy one for new denominations. Alongside the first quarters, the Mint struck its first dimes and its first quarter eagles in gold. The quarter shared its small eagle reverse with the dime, half dollar and dollar of the period. Its Draped Bust portrait matched the other silver coins. Seen together, these coins show the Mint trying to build a full decimal coinage at a time when foreign silver still did most of the work.

Grading Draped Bust quarters

Look first at the hair above the forehead and at the eagle. On small eagle coins the eagle's head and breast wear early. On heraldic eagle coins the top of the shield, the stars above the eagle and the clouds are often weak even on uncirculated pieces, because they sit opposite the highest point of the portrait and the metal could not fill both areas well. A weakly struck coin is not necessarily worn, so check for luster and rub on the high points before judging.

Many survivors are holed, plugged or tooled. Old cleaning is common too. A Draped Bust quarter with honest, even wear and original toning is the goal for most collectors, even if it grades only Good or Very Good.

Frequently asked questions