1831 Capped Bust Quarter Small Size Smal Letters PCGS MS65 CAC

Price $9,659.00
 
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Quarter dollars were one of the last silver denominations to be produced by the Mint. All silver coins were delayed due to the burdensome surety bond required of the Chief Coiner and Assayer. The quarter dollar was further delayed due to a lack of need or demand. The Spanish 2 reales was the coin of choice for consumers as it was equivalent in value to the quarter dollar, and was familiar to all. The small first-year mintage of just 6,146 coins illustrates the Mint’s understanding of the lack of demand for this denomination. Since it was obvious that the coin was not needed, it is conjectured that a small number of coins was made simply to establish the denomination in the nation’s decimal coinage system.

Although the quarter is a heavily used coin today, in early America it was seldom seen or used. So slight was the demand for the denomination, it was only minted in six of its first 20 years of existence.

The obverse design of this Type has the portrait of Liberty modified. She appears younger, more modern and less European than on the previous issue. The reverse has a less-crowded look with the removal of the ribbon bearing E PLURIBUS UNUM. The Treasury Department felt E PLURIBUS UNUM should stay, but the Mint was persuasive in its argument that this was redundant, as the coin already stated UNITED STATES OF AMERICA. All were minted in Philadelphia with reeded edges.

This Type brought another technological development to the Mint. Starting with this coin, the Mint began to use a closed collar to mint coins. This was a cylindrical metal piece with a hole in it that held the blank planchet. For this Type, the cylinder was reeded. When the dies came together to stamp the coin, the collar prevented the metal from flowing out between the dies, and formed the reeds on the edge of the coin. This sped up production and further contributed to the uniformity of coins.

A LITTLE STICKER MAKES A BIG DIFFERENCE.

Within each number of the coin grading scale is a small range of condition from low-end to high-end. Certified coins of the same grade can be of varying quality. Many of today’s collectors want coins that are solid or premium quality for their assigned grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins … and award our sticker only to those coins that meet the standard for today’s selective buyer.

WHAT THE CAC STICKER MEANS:

  • Verified. Your coin has been verified as meeting the standard for strict quality within its grade.
  • Guaranteed. CAC stands behind our verification by making markets in most actively traded coins.

THE CAC STICKER IS BACKED BY EXPERIENCE.

CAC was founded by leading members of the numismatic community, including John Albanese, a respected authority on coin grading and the rare coin market.

 

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The pricing quoted on this page is based on the current market price for this precious metal, which constantly fluctuates and we continuously update from 7 a.m. – 5 p.m. CT, Monday through Friday.

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