The Seated Liberty quarter dollar series is one of the most fascinating and collectible coin series in American history. Among the many varieties of Seated Liberty quarters, some are more valuable and rarer than others. One of the rarest examples in this series is the 1840-O Seated Liberty quarter with the “Large O” mint mark. Recently, collector Dave Schaefer made a remarkable discovery of one of these rare coins on eBay. His find is now attracting attention due to its value and rarity. This article will dive deeper into the story of Schaefer’s discovery and the significance of the 1840-O Seated Liberty, With Drapery, Large O quarter.
The 1840-O Seated Liberty Quarter Dollar
The Seated Liberty quarter was first minted in 1838, and it continued to be produced until 1891. The design features Liberty sitting on a rock, holding a shield in one hand and a pole with a liberty cap in the other. Over time, several varieties of this coin were produced, each with slight differences in design and mint marks. Among these varieties, the 1840-O Seated Liberty quarter is particularly rare.
What Makes the 1840-O Special?
The 1840-O Seated Liberty quarter is unique because of its mint mark, “O,” which stands for the New Orleans Mint. This mint mark, placed on the reverse of the coin, signifies that the coin was minted in New Orleans. However, this specific variety is even rarer because it features a large “O” mint mark and the addition of drapery on Liberty’s elbow, making it highly sought after by collectors.
Dave Schaefer’s Discovery
Dave Schaefer, a collector with a keen eye for rare coins, recently found an 1840-O Seated Liberty, With Drapery, Large O quarter on eBay. This particular coin is considered one of the rarest in the series, with fewer than 50 examples known to exist. Schaefer stumbled upon the coin in April 2024 while casually browsing eBay, with no expectations of finding something valuable.
The Purchase
Schaefer purchased the coin for less than $80 using the “Buy It Now” option on eBay, an incredible find for such a rare coin. The seller’s listing did not specifically mention the coin’s variety, but Schaefer recognized it as a Briggs-1A variety, which is noted in “The Comprehensive Encyclopedia of United States Liberty Seated Quarters.” This find was a “right place, right time” moment, a reminder that good deals can still be found online if you’re paying attention.
Coin Condition and Appearance
The coin that Schaefer acquired is not in perfect condition. It shows signs of cleaning, and it is slightly bent. However, Schaefer is still pleased with the find, as it holds significant historical value. The coin’s surface has a bright, cleaned look with some scratches, which affects its grade. Schaefer’s coin is graded at Very Fine (VF) details, but it is categorized as a “Details” coin due to its imperfections.
Rarity and Value of the 1840-O Seated Liberty Quarter
The 1840-O Seated Liberty quarter, with the Large O mint mark and drapery on Liberty’s elbow, is considered a rare coin, especially in good condition. Experts estimate that there are between 40 to 50 examples of this variety in existence, and many of these are in low grades or have been damaged over time.
| Feature | Description |
|---|---|
| Coin Type | 1840-O Seated Liberty Quarter |
| Mint Mark | O (New Orleans Mint) |
| Variety | Briggs-1A with Drapery at Liberty’s elbow |
| Date | 1840 |
| Rarity | Estimated between 40-50 examples known |
| Condition | Very Fine (VF) with cleaning and slight bending |
| Value Range | $500 to $3,000 (depends on condition) |
| Obverse Features | Curved date (slants left to right), recut stars |
| Reverse Features | Large O mint mark, short and curled eagle claws, drapery on Liberty’s elbow |
| Minting Location | New Orleans Mint |
| Grading Issue | Coin shows evidence of cleaning and bending, affecting grade |
Value Estimation
Determining the value of this coin can be tricky due to its condition. Some Seated Liberty experts believe that an undamaged coin in VF condition could be worth $3,000 or more. However, for coins with issues like cleaning or bending, the value drops. Schaefer’s coin, with its imperfections, is likely valued between $2,000 and $2,500.
Another expert, Greg Johnson, suggests that the market for these coins is thin, and a coin with damage may fetch anywhere between $500 and $1,000, depending on the buyer’s interest. Despite the coin’s imperfections, Schaefer’s find remains highly valuable due to its rarity.
The Briggs-1A Variety: Understanding the Details
The 1840-O Seated Liberty quarter that Schaefer acquired is part of the Briggs-1A variety. The Briggs-1A is a specific variation of the Seated Liberty quarter, known for its transitional features.
Obverse and Reverse Features
The obverse of the Briggs-1A variety shows a curved date that slopes downward from left to right. Additionally, the stars on the coin are recut, with stars 1, 4, 5, and 6, and 9 through 13 showing this characteristic. Liberty’s right elbow also features added drapery, making the coin unique.
The reverse of the coin features a “Large O” mint mark from the New Orleans Mint. The mint mark is positioned in line and left of the feather tip, just over the “A” in “QUAR.” of the word “QUARTER.” The eagle’s claws on the reverse are notably short and sharply curled, adding to the distinctiveness of the coin.
Conclusion: The Significance of the 1840-O Seated Liberty Quarter
The 1840-O Seated Liberty quarter is a rare and important piece of American numismatic history. For collectors like Dave Schaefer, finding such a coin can be a rewarding experience. While the condition of Schaefer’s coin may affect its value, its rarity and historical significance still make it an exciting discovery. The story of Schaefer’s find reminds us that rare and valuable coins can sometimes be found in unexpected places, like an eBay listing.
For collectors looking to dive into the world of Seated Liberty quarters, the 1840-O With Drapery, Large O variety is one to keep an eye out for. Whether you’re a seasoned numismatist or a beginner, this coin represents an important chapter in American coinage and is sure to be a prized addition to any collection.
FAQs
1. What is the 1840-O Seated Liberty quarter?
The 1840-O Seated Liberty quarter is a coin from the United States that was minted at the New Orleans Mint. It features the iconic Seated Liberty design, where Liberty is sitting with a shield in one hand and a pole in the other. The “O” mint mark signifies it was made in New Orleans.
2. Why is the 1840-O Seated Liberty quarter so valuable?
This coin is considered valuable because it is rare. Only around 40-50 examples are known to exist, and many of them are in poor condition. The combination of its rarity, unique features (like the “Large O” mint mark and the added drapery), and the historical significance of the coin contribute to its high value.
3. What makes the 1840-O Seated Liberty quarter different from other Seated Liberty quarters?
The 1840-O Seated Liberty quarter is part of the Briggs-1A variety, which features a curved date and a recut pattern on certain stars. Additionally, it includes drapery at Liberty’s right elbow, a feature that sets it apart from other years in the series.
4. How did Dave Schaefer find the 1840-O Seated Liberty quarter?
Dave Schaefer found the 1840-O Seated Liberty quarter on eBay in April 2024, while casually browsing with no specific expectations. He identified the coin as a Briggs-1A variety and purchased it for less than $80. The coin was not listed as a rare variety, making this a “right place, right time” discovery.
5. What is the condition of Dave Schaefer’s coin?
Schaefer’s coin is graded as Very Fine (VF), but it shows signs of cleaning and slight bending, which impacts its value. Despite these imperfections, it is still a highly valuable piece due to its rarity and historical significance.