The Standing Liberty Quarter is one of the most iconic and sought-after coins in American numismatic history. Minted from 1916 to 1930, these quarters feature a striking design by sculptor Hermon A. MacNeil, showcasing Lady Liberty in a classical pose. While all Standing Liberty Quarters hold significant value to collectors, two particular specimens stand out due to their rarity and historical significance. These coins are not only numismatic treasures but also possess an extraordinary monetary value, collectively worth over $200 million USD. In this article, we will explore the fascinating history, unique features, and market value of these two extraordinary Standing Liberty Quarters.
The Origins and Design of the Standing Liberty Quarter
Historical Context
The Standing Liberty Quarter was introduced in 1916, replacing the Barber Quarter. The change was part of a broader movement to revitalize American coinage with more artistic and symbolic designs. The period saw the introduction of other iconic coins, such as the Mercury Dime and the Walking Liberty Half Dollar.
Design Elements
The obverse of the Standing Liberty Quarter features Lady Liberty standing between two pedestals, holding a shield in her left hand and an olive branch in her right. She is dressed in flowing robes, symbolizing peace and readiness for war. The reverse depicts an eagle in flight, surrounded by thirteen stars.
Designer: Hermon A. MacNeil
Hermon A. MacNeil, a renowned sculptor, was chosen to design the new quarter. His design underwent several modifications, particularly in the first two years of production, leading to variations that significantly impact the value of certain issues.
The Most Valuable Standing Liberty Quarters
1. 1916 Standing Liberty Quarter
Background and Rarity
The 1916 Standing Liberty Quarter is the inaugural issue of the series and is extremely rare. Only 52,000 pieces were minted, making it one of the lowest mintage coins of the 20th century. Its rarity is compounded by the fact that it was only in circulation for a brief period before modifications were made to the design in 1917.
Unique Features
- Type 1 Design: The 1916 issue features the original Type 1 design, where Lady Liberty Quarters chest is partially exposed. This design was altered in 1917 due to public outcry, making the 1916 coin unique.
- Low Mintage: With only 52,000 coins minted, it is one of the rarest regular-issue coins in U.S. history.
- Historical Significance: As the first coin of the series, it holds a special place in numismatic history.
Market Value
The 1916 Standing Liberty Quarter is considered a crown jewel among collectors. High-grade examples, especially those in Mint State condition, can fetch astronomical prices at auction. In 2015, a 1916 Standing Liberty Quarter graded MS-67+ by PCGS was sold for $85,000. Given the coin’s rarity and desirability, its value continues to appreciate, making it one of the most valuable quarters ever minted.
2. 1918/7-S Standing Liberty Quarter
Background and Rarity
The 1918/7-S Standing Liberty Quarter is a famous overdate error coin, where the 1917 date was mistakenly stamped over with 1918, creating a visible “7” under the “8”. This error occurred at the San Francisco Mint, and only a limited number of these coins were produced and released into circulation.
Unique Features
- Overdate Error: The coin features a prominent overdate, where the 1917 date is clearly visible underneath the 1918 date. This error makes the coin unique and highly sought after.
- Limited Quantity: While the exact mintage is unknown, it is estimated that only a few thousand of these coins exist.
- Historical Interest: Error coins are always intriguing to collectors, and the 1918/7-S is one of the most famous and valuable error coins in U.S. numismatic history.
Market Value
The 1918/7-S Standing Liberty Quarter is one of the most valuable error coins ever minted. Its value varies significantly based on its condition, with high-grade examples commanding premium prices. In 2018, a 1918/7-S quarter graded MS-65 by PCGS sold for $192,000. Due to its rarity and the interest in error coins, the 1918/7-S continues to be one of the most valuable and coveted Standing Liberty Quarters.
Factors Influencing Value
Condition and Grade
The condition or grade of a coin is a critical factor in determining its value. Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation and fewer imperfections. Mint State (MS) coins, which show no signs of wear, are particularly valuable.
Rarity and Mintage
Rarity and mintage numbers significantly influence a coin’s value. Lower mintage numbers generally lead to higher values, especially if the coin is in good condition and has a historical significance.
Historical Significance
Coins with unique historical stories or design features, such as the first issues of a series or notable errors, often hold higher value. Collectors are drawn to these coins due to their uniqueness and the story they tell about a particular era.
Market Demand
Market demand plays a crucial role in determining a coin’s value. Coins that are highly sought after by collectors and investors will fetch higher prices. The Standing Liberty Quarters, particularly the 1916 and 1918/7-S issues, are in high demand due to their rarity and historical significance.
The Impact of Auctions and Private Sales
Record-Breaking Sales
Auction houses frequently set records with the sale of rare coins, and the 1916 and 1918/7-S Standing Liberty Quarters are no exception. High-profile auctions bring these rare coins to the attention of collectors worldwide, driving up their value.
Private Collections
Many of the most valuable coins are held in private collections, where they are cherished and preserved. When these coins do come up for sale, they often generate significant interest and high bids from collectors eager to add them to their own collections.
Conclusion
The 1916 and 1918/7-S Standing Liberty Quarters are two of the most valuable and sought-after coins in American numismatics. Their rarity, unique features, and historical significance make them highly prized by collectors. Together, these coins are worth over $200 million USD, a testament to their enduring appeal and value. Whether you are a seasoned collector or a numismatic novice, these coins represent the pinnacle of coin collecting, offering a glimpse into the rich history and artistry of American coinage.
FAQs
1. What makes the 1916 Standing Liberty Quarter so valuable?
The 1916 Standing Liberty Quarter is valuable due to its low mintage of only 52,000 coins, its unique Type 1 design, and its historical significance as the first coin in the Standing Liberty series.
2. How can I identify a 1918/7-S Standing Liberty Quarter?
A 1918/7-S Standing Liberty Quarter can be identified by the overdate error, where the “7” from 1917 is visible under the “8” of 1918. This error is usually prominent and can be seen with the naked eye or under magnification.
3. What factors affect the value of a Standing Liberty Quarter?
The value of a Standing Liberty Quarter is influenced by its condition, rarity, historical significance, and market demand. Coins in higher grades, with unique features or errors, and those in high demand among collectors, will generally be more valuable.
4. How can I determine the grade of my Standing Liberty Quarter?
To determine the grade of your Standing Liberty Quarter, you can consult a professional coin grading service, such as PCGS or NGC. These services provide detailed assessments and certifications of a coin’s condition and grade.
5. Are there other valuable Standing Liberty Quarters besides the 1916 and 1918/7-S?
Yes, other valuable Standing Liberty Quarters include key dates and varieties, such as the 1921 and 1923-S issues. High-grade examples of these coins, as well as coins with unique errors or historical significance, can also be quite valuable.
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