Can you imagine that an old coin can be worth $68 million (about $6.813 million) someday?
It may sound unbelievable, but a rare coin once thought lost has stunned collectors. A retired hobbyist recently found a 1796 Draped Bust Quarter hidden inside an antique chest. This rare find has sent waves across the numismatic world, captivating historians and investors alike with its exceptional historical and monetary value.
The full story of the discovery – a rare treasure
This remarkable coin wasn’t discovered in a fancy auction house or a curated collection. Instead, it was hidden in an aged wooden chest in a storage room—left untouched for decades. The retired collector, while sorting through old belongings, uncovered what turned out to be one of the earliest U.S. quarters ever minted: the 1796 Draped Bust Quarter.
1796 Draped Bust Quarter – What is so special about it?
What makes this coin incredibly rare and highly valuable? Here’s a breakdown:
| Feature | Detail |
|---|---|
| Year | 1796 (the only year this quarter design was minted) |
| Reverse Design | Features the “small eagle,” unique to 1796 quarters |
| Total Mintage | Only 6,146 coins were produced |
| Surviving Coins | Roughly 615 believed to still exist |
| Grade | Only a few survive in top condition like MS-65 or better |
| Valuation | The newly found coin is appraised at $6.813 million |
Why does it have a special place in history?
The 1796 Draped Bust Quarter holds historical significance as America’s very first quarter. Created by engraver Robert Scot—whose inspiration came from painter Gilbert Stuart—this coin was a singular release for its time. It was part of the earliest silver denominations ever issued by the young U.S. Mint and remains the only quarter struck during the 18th century.
What makes it so valuable?
Several key factors contribute to its extraordinary value:
- First Quarter Ever Minted: This coin launched the legacy of the 25-cent piece.
- Limited Production: Only minted in 1796, with just over 6,000 made.
- Rare Design: Features the “small eagle” on the reverse, not reused in later quarters.
- Few Surviving: The vast majority are lost; less than 650 are known today.
- Exceptional Condition: The coin’s MS-67 grade makes it a standout.
- Unusual Discovery: Its rediscovery inside an old chest adds to the mystique.
Market Place – Comparison to Other Examples
To understand this coin’s value, let’s compare it to past auction results:
- A Draped Bust Quarter graded MS‑66 sold for $1.74 million in 2022.
- Another high-grade version sold to GreatCollections for $2.35 million.
- This newly unearthed coin, due to its remarkable preservation and story, has been valued at an astonishing $6.813 million.
Antique Coin Chest Yields Rare 1796 Quarter Valued at $6.813 Million
The combination of rarity, condition, and discovery has led experts to place an exceptionally high value on this coin. Not only is it a collector’s dream, but it could also be one of the most valuable quarters ever found.
The Future of This Coin – What Happens Next?
With the discovery making headlines, the coin will now go through several steps:
- Authentication: Reputable agencies like NGC or PCGS will verify and grade it.
- Auction or Sale: The coin may be sold privately or through a major auction house.
- Historic Pricing: Experts predict it could break records for U.S. coin sales.
Draped Bust Design – Introduction to Artwork
The Draped Bust design features Liberty with flowing hair, symbolizing America’s freedom and forward spirit. First introduced in 1795, it appeared on various silver coins until 1807 and remains a favorite among art and history lovers.
Reaction of collectors and historians
Since the news broke, reactions have been enthusiastic across collector forums, historical circles, and social media platforms. Many are calling it a “lost treasure reborn,” and experts are celebrating the coin as a tangible piece of early American history.
Bottom Line
The 1796 Draped Bust Quarter is more than just a valuable coin—it represents a forgotten chapter of American heritage. Hidden away in an old chest, its story reminds us that history can be tucked away in ordinary places. If you have old boxes, safes, or trunks at home, who knows—maybe your own piece of the past is waiting to be discovered.
FAQs
Q1: Why is the 1796 quarter so rare?
It was the only quarter minted in the 18th century and had a very low production run.
Q2: How many 1796 Draped Bust Quarters still exist?
Experts estimate around 615 of them are still known to survive today.
Q3: What makes the small eagle design special?
It was used only in 1796 quarters, never repeated in later designs.
Q4: Can I still find rare coins in old chests or safes?
Yes! Rare coins have been found in attics, barns, and antique furniture many times.