The 1796 Draped Bust quarters were the first official quarters minted by the US mint. These coins have value as numismatic coins. Keep reading to learn more about these silver coins.

1796 Quarter

Specifications

Type: Draped Bust Quarter
Year: 1796
Face Value: $0.25
Composition: 89.24% silver, 10.76% copper
Silver Weight: .1933 oz.
Total Weight: 6.74 grams
Current Silver Bullion Value: $4.87

The US minted the 1796 quarter with no mint mark. No other series were minted for this year.

Series Location Quantity Minted
1796 Philadelphia 6,146

Value

This coin in circulated condition is worth a lot more than its weight in silver. But just for reference, the silver melt value for this coin is $4.87 as of October 21, 2020. This melt value is calculated from the current silver spot price of $25.19 per ounce.

The 1796 quarter is worth around $7,500 in about good condition. In good condition the value is around $11,000. In very fine condition the value is around $32,500. The value is around $80,000 in uncirculated condition with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $125,000.

Grading System

About good- The coin can be identified.

Good- The date is readable. Liberty's bust is outlined but there is no detail.

Very fine- Only the left side of Liberty's drapery is weak.

MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.

MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.

 

Sources:

The Red Book