Historical Background

The entire run the American coinage received a major overhaul and also aesthetic upgrade in between 1907 and also 1921.Each and also every denomination to be redesigned, and also with the exception of the two-and-a-half and also five-dollar yellow coins, each had actually its own distinct appearance.These designs were a clear departure from the nation’s less creative numismatic past, and remain amongst the many beautiful and also beloved of all United states coin types.

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This bronze cast is amongst the rarest artifacts related to the widely well-known Standing Liberty quarter series, one original actors of Hermon MacNeil’s obverse design as it appeared in august 1916. Couple of other relics that the was standing Liberty quarter’s style production duration survive in private hands, and also arguably no one harbor the very nice of this big bronze cast of the obverse design. Offered by heritage Auctions on jan 5, 2017LOT #5616

It to be the start of the 20thcentury and to chairman Theodore Roosevelt’s thinking America’s coinage was unworthy that a an initial world power.Necessarily, he turned to talent of exterior artists, as Mint engravers previously focused on the mechanical suitability the a style rather 보다 its artistry.So departing indigenous the Mint’s hundred-plus-year tradition, Roosevelt collection America’s foremost sculptor Augustus Saint-Gaudens to the task. In 1907, Saint-Gaudens created his namesake 20-dollar and also gorgeous 10-dollar gold designs.Bela L. Pratt to be recruited to work on the 2 minor yellow denominations. Victor D. Brenner and also James Earle Fraser were additionally chosen outright because that their corresponding designs for the cent and also nickel, and it to be not till 1915 a competition was held among prominent artists of the day for the dime, 4 minutes 1 and half dollar designs the would change the Barber type.

According to the Law that 1890, coin designs can be changed after 25 year tenure.The Barber dimes, soldier and fifty percent dollars had remained in use due to the fact that 1892, so replacements were permitted in 1917, although not mandatory.As the public’s solution to the other brand-new numismatic designs to be overwhelmingly positive, top top December 28, 1915 the Treasury hosted a competition for these three denominations.For the an initial time in the background of the United claims Mint, distinctive designs to be going to be produced for this issues. Adolf Weinman won the rights to the dime and half dollar, and also the winner for the new quarter was influential American sculptor Hermon Atkins MacNeil.He was famous for his works showing Native Americans and historical events, and also went on to createJustice, the Guardian of Libertyon the east pediment that the United says Supreme Court Building among a substantial many other expert achievements.

Design Overview

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MacNeil’s quarter functions Liberty striding confidently through a waist-high gateway, delivering a shield bearing the nationwide arms in her left hand.The sheath from she shield is being removed by her appropriate hand, in which she also holds an olive branch.MacNeil proclaimed that Liberty is “stepping front in … the defense of peace as her ultimate goal.”(Of food 1917 was additionally the year the the unified States entered World battle I, after striving for years to keep its neutrality.)Thirteen stars representing the original swarms are shown on both the obverse gateway and flanking the eagle in flight on the reverse.The designer’s initial M is situated to the best of the date, while the mintmark appears just come the left.

Standing Liberty soldier were struck in ~ the Philadelphia Mint indigenous 1916 until 1930 through the exception of only 1922, when no soldier were produced at any mint.Strikings at Denver and San Francisco were an ext sporadic.In 15 years of production, 226 million coins were struck.Interestingly, this is the only 20th-century regular concern U.S. Coin for which no proof coins were produced.There room 37 regular issues as well as one overdate: a 1917-S form 2 die, unused by the san Francisco mint, was recut and used to strike several thousand 1918-S coins, producing a rare variety and the most elusive problem in the series.While the series contains many obstacles to the advanced collector, the two other many notable tricks are the 1916, which witnessed a low manufacturing of 52,000 pieces and also the 1927-S, one of the foremost condition rarities in all of 20th-century U.S. Numismatics and also the toughest date to find with a totally struck head.

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Chief Engraver George Morgan, who changed the so late Charles Barber the February, make extensive changes to MacNeil’s architecture mid-way with 1917, developing a distinct kind 2 format.His modifications made the eagle greater on the reverse and also moved 3 of the thirteen stars from its political parties to listed below it.Liberty’s naked torso is covered with chain mail and also her shield rivets are reduced from 30 to 16.Finally, a convexity was used to the die to assist in to mark production. Unfortunately, the alters had opposing effect, with type 2 instances displaying poorer definition overall and notably to Liberty’s hair and face.Like Fraser’s nickel, the stand Liberty quarter’s date was one of the highest features of the design and tended to wear quickly.A subtype (sometimes called type 3) was produced in 1925, in ~ which time the date was recessed.

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Modifications

The kind 1 issues the 1916-1917 screen straight sides on both the first and 2nd numerals with really subtle serifs at either side of the top and also bottom. Due to incomplete striking, this often show up to be sans-serif, having only ethereal bulges at either end.The 9 had actually a loop that was not rather closed and a tail that pointed straight to the left, i m sorry is a contrast to the upwardly bent tail uncovered in Hermon MacNeil’s initial models.It’s probable that adjustments to be made through the Mint’sengraving staff.With the type 2 issues, the 9 pointed increase as originally intended and the loop the the 9 is larger.

The type 2 issues the 1917-24 display plain, block numbers throughout, other than in 1921.As with so many United says designs that this date, the 1921 had actually a distinctive appearance, in this situation with broader numerals than the coins coming before or complying with it.

When the date was recessed because that the coins of 1925-30, every numerals were altered.The vault san-serif format was changed with curved, serif-style figures.The 1 began displaying a tilting left serif in ~ the top and also broad, directly serifs at the bottom.The 2 transitioned from level to curved at the bottom.The uniform upper and lower loops viewed on the 8 in 1918 were adjusted to a small loop above a larger on in 1928.The flat-topped 3 of 1923 was changed with a bent one in 1930.

Collecting Insights

Particularly beginning with the type 2 format, coins graded Full Head are lot scarcer and an ext valuable than those lacking this feature.To qualify for this designation a coin should possess three attributes: the 3 leaves in Liberty’s hair must be visible; her hairline have to be complete; and also her ear indentation have to be evident. Other locations that room prone to striking weakness on some but not all problems are Liberty’s best knee, the date, the eagle’s breast feathers, and also the rivets and also the center of the shield.

1916:By the moment dies were lastly ready, the year 1916 close to its end and also only 52,000 coins to be minted.As such, the is among the premier rarities of 20th-century numismatics.That being said, instances in practically any condition are easily accessible up come MS66 if you space willing to pay the price. Similar to any brand-new design, many were saved from circulation by collectors and also the general public alike. When the 1916 and form 1 1917 quarters share the same reverse design, there space subtle differences in between the obverse designs supplied for the 2 years: Liberty’s hair detail is slightly different; her gown drapes a little bit lower and is urgently alternately; and the beading on the coin’s in salt is cut to make room for her head. Other much more subtle distinctions exist as well.

1917 kind 1: for those seek a high-quality, inexpensive example of the kind 1 style, this is the coin.Over 12 million were developed by the 3 Mints in the first half the 1917, and roughly three-quarters of the number originated from Philadelphia. Unlike their kind 2 counterparts, kind 1 instances usually screen solid definition on Liberty’s head and also shield.Examining the populace reports in gem and also finer grades, the numbers room 5 to 1 in donate of Full-Head issues, so premiums are as necessary reasonable for well-struck examples.

1917-D type 1: Although no as typical as its P-mint sibling, this is still an affordable example of Hermon MacNeil’s beautiful style and relatively obtainable also up to MS67FH.

1917-S kind 1: although 443,000 much more pieces to be struck of the S-mint kind 1 보다 the D-mint, the S-mint is the most difficult of the three kind 1 concerns to find with Full-Head detail.

1917 kind 2:The modifications made to Liberty’s hairstyle, the eagle, stars and added chain mail caused the obverse to be much more weakly struck 보다 the kind 1 examples.However, on this issue, the bulk of mint state exampleshave completely struck heads and also out-number the non-Full Heads about two come one. This is the most common of the 1917 come 1924 was standing Liberty quarters. The 1917-1924 dates, however, are especially rarer in all grades than their 1925-1930 counterparts.

1917-D type 2:Fully struck instances are a bit much more elusive because that this Denver form 2 issue and Full Head examples in gem and finer bring solid premiums.

1917-S kind 2: although a little bit scarcer 보다 it’s Denver cousin in pure terms, the kind 2 san Francisco examples are a bit simpler to get at the MS67FH and greater level, with a dozen coins for this reason graded in between PCGS and NGC combined. Of course it is unknown simply how countless of these are resubmissions. As an aside, critical factor to take into consideration when judging any coin’s rarity is the number and frequency that auction appearances, as part the population data because that some issues is an ext accurate 보다 others.

1918:The economy in 1918 was booming and the need for boy coinage had all three mints to run at complete capacity.The result was amount (more 보다 32.5 million piece were struck in ~ the 3 Mints) end quality. The Philadelphia Mint did by far the best job in creating a high-quality product, and about 40% of mint state survivors have totally struck heads.Locating a high-grade, complete Head instance is not overly difficult.

1918-D:Although regularly overshadowed through its san Francisco counterpart, this worry is conditionally scarce and infrequently encountered at the Gem level or finer. The is much rarer than you would certainly guess indigenous its nearly 7.5 million coin production. To win is commonly a problem, with most instances displaying poor definition on Liberty’s left (facing) leg, the date, and also the eagle’s breast feathers, as well as on Liberty’s face and also hair.

1918-S:This is one of the good strike rarities in the series.This is also the case with the Mercury dime and Walking Liberty fifty percent dollar series, with the 1918-S being a high mintage (over 11 million) worry with abysmal availability of candidates with strong striking characteristics.

1918/7-S: To help meet the high demand of the mountain Francisco Mint and the wartime economy, one old type 2 1917-dated dice was re-engraved through an 8 end the last digit in the date. The mintage figure of this 4 minutes 1 is unknown, however obviously miniscule. These pieces circulated freely and were not uncovered until nearly twenty years after they gone into commerce. Accordingly, few mint state survivors are known today, and also it is among the vital silver rarities that 20th century numismatics.

Two notable characteristics can be uncovered on these coins, struck from a single obverse die: a dice clash in the area next to Liberty’s appropriate knee, native the E in E PLURIBUS UNUM top top the reverse; and a small dot of extra metal over and to the appropriate of the last digit that the date.

The 1918/7-S is for this reason rare, it is relatively expensive also in the lowest grades. Mint state specimens are excessive rarities and also specimens with completely struck top are virtually non-existent. Combining the populations, there space a full of 161 PCGS and NGC graded uncirculated examples. Together a certain percentage of these are absolutely resubmissions, the is likely much less than 100 mint state survivors exist. The two services have graded just 12 MS65 or much better specimens (again a number certainly inflated) and also none that have received the coveted full Head designation. The highest graded full Heads are MS64s. There are only 26 full Head uncirculated instances in every grades merged on the populace reports that the two significant services.

1919: This is one of the most available issues in the teens in high-grade due to its mintage exceeding 11 million. High quality examples with solid striking characteristics are amongst the most obtainable for issues prior to 1925.

1919-D: For unknown reasons the Denver Mint coinage of 1919, throughout all denominations, was poorly made, creating crucial dates because that the nickel, dime, 4 minutes 1 and fifty percent dollar. Liberty’s head is practically always weak and also the rivets follow me the left side of the shield space usually poorly defined. Favor its sisters 1919-S coin, there are often amazing die division on the obverse around the date.

1919-S: Like the 1919-D of similar mintage, the 1919-S is a key to the collection and rare in high-grade, particularly with complete striking characteristics. Rarity and also price in high-grade instances with full Head attributes run parallel v the 1919-D, both of i beg your pardon are fairly a little rarer 보다 the more famous and coveted 1916.

1920: Even though the 1920 has the highest possible mintage of the entire series (more than twin any various other issue), its accessibility in the much better grades of uncirculated is surprisingly low. The government’s require for 27.8 million soldier this year overwhelmed the typically competent production staff in Philadelphia making complete Heads surprisingly scarce. The was another situation where amount ruled over quality.

1920-D: In high-grade, specifically with complete Head attributes, this ranks amongst the most difficult of problems in the series. Many examples display striking weakness at the top of the date and the third and fourth rivets space usually absent from Liberty’s shield.

1920-S: Taken together a whole, the Roaring twenties witnessed few of the poorest developed coins in the background of the san Francisco mint. This is true not just of the quarters, but likewise of the nickels, dimes, and fifty percent dollars. Both obverse and also reverse nearly always screen weak strikes, make it one of the optimal strike rarities in the series, eclipsing even the 1919-D and 1919-S. That is second only come the 1927-S in terms of the fewest high-grade survivors, with and without complete Head status. The elusiveness of Gem quality and finer complete Head examples has brought about pricing pressure on non-Full Heads as well, particularly in the upper uncirculated grades.

1921: A reasonably low mintage (1,916,000) might account for the fact that mint state survivors are usually well-struck. However, whereas countless Standing Liberty quarters display screen striking softness through the top of the date, the 1921 display screens this function along the bottom of the digits. The an initial and second 1 in the day are slightly various when compared to other issues, leading some to believe that the style was again modified in this year, together was for sure the instance with the 1921 Walker.

1923: Albeit a high mintage issue, this day is fairly scarce in Gem, complete Head condition. Although the san Francisco worry of this year it s okay much much more recognition as a vital date, in gem and finer full Head condition the Philly issue has far fewer examples graded. Together it sells for a portion of the price, this problem should be thought about a sleeper. Once found, high-grade survivors have the right to be located with razor-sharp highlight detail.

1923-S: This date is elusive from the standpoint of both absolute and also condition rarity. That is much more available than one would certainly expect, however, and is perhaps among the much more over-rated dates in the series. Gem and also finer examples, even with complete Head details, trade relatively frequently.

1924: As if foreshadowing the date change the adhering to year, the 1924 was one of the most poorly produced worries in the whole series. Furthermore, the obverse dice cracked at an early stage in production, causing most mint state survivors missing the top section of your dates. Although end 10 million coins were produced, Gem and better examples space not simple to acquire. Favor the 1923, this is an additional relative sleeper in MS66FH and much better conditions, although prices are beginning to escalate.

1924-D: As to be the situation in Philadelphia this year, this was likewise one that the worst created in the series. Plenty of examples come weakly struck, not just on Liberty’s head yet on the date and also shield rivets. That is not uncommon to discover the top 3rd or fifty percent of the date lacking from a broken die. This worry has numerous survivors in uncirculated condition, also in really high-grade, but almost all are level Heads. Complete Heads are rather rare in Gem and also finer.

1924-S: Nearly 3 million to be minted but the vast bulk were poorly produced. Full Head examples are rare, yet the striking difficulties did not protect against with Liberty’s head, as the shield information is also typically abysmal, as room the eagle’s feathers. The absence of accessibility of complete Heads has led to level Heads in the higher uncirculated grades commanding strong prices.

1925: The day positioned on the very first step that the passway was one of the design’s highest possible features and wore away quickly, causing the whole area that the very first step gift recessed in 1925. This was a high production worry with a mintage of over 12 million, so no surprisingly examples grading as much as MS66FH are easily available.

1926: This worry is poorly developed by Philadelphia standards. Although end 11 million to be minted, a low portion of those display solid striking characteristics. Detect Gem and finer instances in complete Head, while not specifically difficult, is harder 보다 one would think offered the high mintage, the philadelph Mint’s usual much better attention to detail, and also the ahead year’s style change.

1926-D: This is among the rarest issues of the series in Gem full Head and finer conditions, back locating an instance that is high-grade v a flat Strike is incredibly easy. Indeed, it to be branded together the classic Flat Head that the series by stand Liberty quarter specialist, J. Cline. The reverse strike likewise proves problematic, with typical examples displaying few if any type of feathers ~ above the eagle’s wings.

1926-S: This problem is several times rarer than its already elusive Denver cousin. The san Francisco mint had troubles striking up any type of coin designs in the twenties, and the 1926-S 4 minutes 1 is no exception. As well as displaying weakness on Liberty’s head, her shield and the eagle’s chest feathers are notoriously soft. The 3rd and fourth rivets space always absent from the shield.

1927: Although no as typical as the 1929 and 1930, this problem was well created in high numbers, v a mintage of almost 12 million. Recognize a high-quality example, while not necessarily easy, is not overly challenging. However, recognize a superb Gem with full Head details, is a feat, as it is with practically all but a grasp of dates in this complicated series.

1927-D: Although this issue and its famous San Francisco sibling room the only ones in the collection boasting mintages of much less than a million as well as the 1916, it is surprisingly simple to situate a high-quality example, increase to and also including coins in ~ the Gem, full Head level.

1927-S: With just a paltry 396,000 produced, the 1927-S is the premier rarity amongst the regular problem Standing Liberty quarters. It is even rarer 보다 the 1916, also though virtually eight times as many coins were struck since it wasn’t conserved in the substantial method witnessed by the very first date of the series. The 1927-S is among the foremost problem rarities in every one of 20th century U.S. Numismatics and aside native the overdate, the many expensive of all Standing Liberty quarters. Even Flat Head instances in mint state command considerable sums.

1928: This date is amongst the most common and is readily obtainable in all grades up to MS66FH. The obverse and reverse the this concern are among the much better struck in the series. Together with virtually every standing Liberty quarter, that becomes rarely at the MS67FH level.

1928-D: This concern was poorly produced, and the striking attributes tend to be weak in every one of the usual trouble areas. Accordingly, complete Head instances bring solid premiums and are relatively elusive.

1928-S: Large and little mintmark ranges of this year exist, v the tiny mintmark being 3 to five times rarer follow to J. Cline. The tiny mintmark is further to the right and down towards the date and does not touch the star. This concern is reasonably common and also easy to obtain up to the MS67FH level.

1929: This is the 2nd most common issue in the collection behind the 1930. All grades up come MS66FH space readily accessible and reasonably affordable, making that a popular selection for form collectors.

1929-D: The mintage of 1,358,000 coins was the fourth-lowest of any type of date and also mintmark worry in the whole Standing Liberty 4 minutes 1 series. The low manufacturing in mix with the typical bad strike the Denver Mint worries during the ‘20s provides the 1929-D is critical condition and also strike rarity. Gem and greater examples with complete Head details room elusive, although not as rare as several of the Denver and San Francisco worries from previously in the decade.

1929-S: This worry was better produced than any type of other san Francisco concern from the ’20s and also finding high-quality examples is not typically a problem.

1930: This is the most readily obtainable of all problems in the series, other than for the 1917 form 1. Strike is not a problem, no one is finding an example in any type of condition. The is most regularly the kind collector’s concern of choice.

1930-S: While not too produced together its philadelph counterpart, this day is still basic to get in any type of condition, albeit with weaker to mark attributes, particularly on Liberty’s head and the inside shield, and the 3rd and 4th shield rivets.

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The stand Liberty quarter was discontinued in 1931, a year in which no quarters were struck. Back the Law the 1890 mandated the coinage designs should not it is in changed much more often 보다 every 25 years, the 200th anniversary of George Washington’s birth in 1932 seemed critical enough occasion to concern what to be conceived as a one-year commemorative quarter. The Washington quarter, obviously, ended up proceeding as a continuous issue.

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MacNeil’s Liberty, moving both shield and olive branch, is a emotional reminder the a time as soon as the United states was ~ above the brink of involvement the Allied forces in the world War the had started in 1914. Although the was created for a only 15 years, the remains among American numismatics most beloved designs and also is universally considered one the the many beautiful.