The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
This and the 1796 With Stars variety are the two rarest dates among all early quarter eagles. Approximately the same quantities of each were struck and they remain about equally rare. Rated R.7 by Walter Breen who suggested that nine examples were known when his New Varieties monograph was published. By the time of publication of his Complete Encyclopedia, Breen had raised his estimate to 20 coins. The actual population is likely in the range of 40 to 50 coins. This equates very closely to 10% of the total struck from February 28, 1797 to June 29, 1797. Aside from five assay pieces recorded for December 30, the June 29 delivery was the last of quarter eagles for the calendar year. Delivery Warrants 82, 83, and 93 accounted for 427 coins struck.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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