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1846 Liberty Seated Quarter. JD-1, Briggs 4-F. Rarity-7. Proof-65 (NGC).

Exceedingly Rare Gem Proof 1846 Quarter One of the Finest Certified 1846 Liberty Seated Quarter. JD-1, Briggs 4-F. Rarity-7. Proof-65 (NGC). Specialists in early Proof Liberty Seated coinage will immediately recognize the rarity of this handsome 1846 quarter. Pleasingly toned surfaces exhibit dominant steely olive-gray iridescence with swirls of silvery brilliance intermingled. Direct lighting calls forth not only iridescent undertones of pale pink and powder blue that appear to drift toward the borders, but also pronounced reflectivity to the finish in the fields. The strike is razor sharp throughout and the surfaces are expectably smooth for the assigned grade. A tiny planchet flaw (as made) on the upper reverse rim between the words STATES and OF is mentioned solely as an identifying feature in maintaining the provenance of this significant rarity. As with all pre-1859 issues in the Proof Liberty Seated quarter series, the total number of specimens produced for the 1846 was not recorded by the Mint and has long been lost to history. Numismatic scholars, therefore, are left with the number of coins extant as a basis for estimating the mintage. PCGS CoinFacts estimates that eight to 10 specimens are known from an estimated mintage of 12 pieces, totals that square nicely with Larry Briggs' assertion that 10 to 12 coins were struck put forth in his 1991 reference The Comprehensive Encyclopedia of United States Liberty Seated Quarters, and John W. Dannreuther's estimates of eight to 11 known from a mintage of 12 coins reported in his 2025 United States Proof Coins volume on the silver denominations. Opinions differ, however, with some researchers tracing as many as 13 distinct specimens in numismatic hands. In keeping with these more liberal census listings. Q. David Bowers provides an estimated mintage of 15 to 20 coins in his 2016 Guide Book of Liberty Seated Silver Coins. Regardless of exactly how many coins were produced, the mintage for this issue was clearly on a very limited scale. This is commensurate with the United States Mint's policy regarding Proof coinage during the 1840s. Mintages during that decade were achieved on as needed basis, and generally only for presentation or other official purposes. It is important to remember in this regard that numismatics as a hobby did not begin to gain widespread appeal in the United States until the late 1850s, at which time the Mint made its first concerted effort to market yearly Proof coinage to collectors. This marketing effort coincided with the Mint's first recording of Proof mintages for gold and silver coins in 1859. Given the manner in which they were produced and distributed, it is likely that most Proof Liberty Seated quarters from the 1840s have survived. Since few were struck in the first place, as above, issues such as the Proof 1846 are clearly very rare even if 90 to 95% of the mintages are extant. Among certified examples of this date none have topped the Proof-65 level. The coin offered here is clearly a phenomenal absolute and condition rarity that would serve as a highlight in even the finest cabinet. Provenance: Property from an Alabama Family. Earlier ex Paramount's Grand Central Auction Sale of November 1978, lot 154; Paramount's session of Auction '79, July 1979, lot 44; our (Bowers and Merena's) Estates of Philip M. Mann, Jr. & Glenn B. Smedley sale, September 1988, lot 201; Mid-American Rare Coin Auctions, Inc.'s January 1989 F.U.N. Sale, lot 2650; Phil Kaufman; Heritage's sale of the Phil Kaufman Collection of Early Seated Proof Sets, Part III, April 2008 CSNS Signature Auction, lot 2385; Greensboro Collection; Heritage's sale of the Greensboro Collection, Part III, April 2013 CSNS Signature Auction, lot 4219; Heritage's PNG Dallas Invitational Signature Auction of February-March 2015, lot 3075. NGC Census: 4; 0 finer. The corresponding PCGS Population is virtually identical at 3/0. PCGS# 5540. NGC ID: 23W9. Click here for certification details from NGC.
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