The uninitiated may think coin collectors utilize hidden codes. A "die error" coin can be quite valuable on the collectors' market if its meaning is understood. Collectors also want rare "double-denomination" proof coin quarters and dimes without "mint marks.
"The typical person may not understand these phrases, but tale and scandal always captivate seasoned coin collectors and numismatic newbies. Even though its figure is smaller, the 1916 Type 1 Standing Liberty quarter is entirely covered in both.
The quarter depicts Lady Liberty on the obverse side, holding a shield and revealing her right breast. Liberty stands between a star-studded doorway in the final "Type 1" coin, despite earlier sketches placing her between two dolphins. Eagles soar low through star borders on the tails side.
The quarter's depiction, though not meant to stir enthusiasm, was captivating to early 20th-century prudes, patriots, and coin-makers due to the figure's bared breast. The semi-exposed figure's scandals, originating from unexpected sources, have contributed to its current value: $48,000 at a 2005 auction, and $3,120 to $37,200 for higher grades.
Too rapid and furious numismatically Knowing how this currency was created helps explain its valuation. The 1916 Standing Liberty quarter was created by Hermon Atkins MacNeil, who won an invite-only competition hosted by new U.S. Mint director Robert W. Woolley.
Woolley was new and mistook U.S. Treasury code that he may change currency designs once every 25 years as permitting him to do it. This misconception caused a hasty redesign of the coin.
Creation of legend Although the press criticized the scantily-clad quarter, there is no evidence of public protest. The public may have sobbed over the coin's opacity.
A contemporaneous Los Angeles Times reporter (via PCGS) lamented that "Miss Liberty is dressed up like a plush horse compared to Venus de Milo." Modern historians also debunk the assumption that Liberty was clothed by prudence.
Instead, three non-scandalous factors prompted quarter modifications. First, MacNeil wanted to rectify the Mint's unapproved cosmetic changes to his work, while the Treasury desired a stackable currency that was easier to keep and spend.
As the U.S. prepared for World War I, MacNeil wanted Liberty to be more battle-ready. In 1917, MacNeil received his coin redesign, but another crisis was coming.