By Charles Morgan and Hubert Walker for CoinWeek Notes …..
First released in 1916 with a minuscule mintage, the Standing Liberty Quarter garnered almost immediate controversy. As the newly appointed Director of the United States Mint, Robert W. Woolley held a public competition to replace the earlier Barber designs on the dime, quarter, and half dollar. While anyone could submit designs, American sculptor Hermon Atkins MacNeil’s creation was selected after some modifications. The obverse depiction of Lady Liberty is thought to be based on either the silent film actress Doris Doscher or Broadway actress Irene MacDowell. Regardless of who the model was, for the first time in American history, the nation’s coinage depicted partial frontal nudity.
Despite the fabled controversy, it took time to change the design, and it wasn’t until mid-February 1917 that Lady Liberty was fully clad in a chainmail undergarment. By that point, the Philadelphia Mint had already struck 8,740,000 pieces. This was the largest issuance for the denomination since the 1909 Barber Quarter. That being said, from when the design was changed until the end of 1917, the Mint would strike an additional 13,880,000 pieces belonging to the Type 2 style design.
J.H. Cline, noted expert on the Standing Liberty Quarter, estimated that due to improvements the Mint made to the obverse hub, 80% of all Type 1 quarters in uncirculated condition display Liberty’s full head. PCGS states that in order to receive the Full Head (FH) designation the coins must have “a clear and distinct separation between Miss Liberty’s hair cords and her cap.”
How Much Are Type 1 1917 Standing Liberty Quarters Worth?
Currently, the auction record for a standard strike, non-FH example, stands at $11,550. It was set by an example graded MS63 sold by Heritage Auctions in a September 1996 sale. Despite this, the price of these coins has dropped over the past 25 years. Recently, standard high Mint State examples (MS66 – MS67) have been selling for $2,000 to $6,500. As the grade drops, and as the certified population grows, we see that in mid-Mint State (MS63 – MS65) examples regularly sell for $300 to $600. A few steps lower, between About Uncirculated to Low Mint State (AU53 – MS62), examples are worth $200 to $300. Prices for mid-grade examples, between VF and EF, remain relatively stable and range from $80 to $100.
Meanwhile, the auction record for a Full Head example stands at $32,900, for an MS67+, sold by Heritage Auctions in January 2016. While this designation is not a guarantee that the coin will command a premium over non-FH examples, this is usually the case. For instance, examples graded MS67 have recently sold for $23,000 to $27,600 at auction. In lower grades, examples generally sell for a $200 to $600 premium. MS65s are now selling for $900 to $1,000, and AU55s for $200 to $500.
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Market Data and Noteworthy Specimens
Top Population: PCGS MS67+FH (22, 8/2024), NGC MS67+FH (6, 8/2024), and CAC MS67FH (58:0 stickered:graded, 8/2024).
- NGC MS67+FH CAC #6058513-002: Legend Rare Coin Auctions, December 8, 2022, Lot 161 – $7,050; Legend Rare Coin Auctions, December 7, 2023, Lot 45 – $5,640.
- PCGS MS67+FH #47995613: Stack’s Bowers, June 13, 2023, Lot 2014 – $14,400.
- PCGS MS67+FH CAC #40499294: Legend Rare Coin Auctions, April 2022, Lot 136 – Passed; “The Noel Thomas Patton Collection, Part II,” Heritage Auctions, August 12, 2024, Lot 3289 – $10,200.
- PCGS MS67+FH CAC #066664335: “The Bob R. Simpson Collection, Part VI” Heritage Auctions, August 18, 2021, Lot 3007 – $27,600. Simpson on insert.
- NGC MS67+FH #4626917-004: Heritage Auctions, April 27, 2018, Lot 4805 – $11,400.
- PCGS MS67+FH CAC #21509997: Heritage Auctions, January 7, 2016, Lot 5349 – $32,900.
- PCGS MS67+FH CAC #81059051: Stack’s Bowers, August 7, 2012, Lot 11410 – $19,975; Stack’s Bowers, August 11, 2016, Lot 3108 – $23,500.
- NGC MS67+FH CAC #2037631-165: “Colonel” E.H.R. Green; Eric P. Newman * B.G. Johnson, d.b.a. St. Louis Stamp & Coin Co., Eric P. Newman – $2.50; “The Eric P. Newman Collection, Part II,” Heritage Auctions November 15, 2013, Lot 33401 – $12,925. Newman novelty insert.
- NGC MS67+FH CAC #2037631-164: “Colonel” E.H.R. Green; Eric P. Newman * B.G. Johnson, d.b.a. St. Louis Stamp & Coin Co., Eric P. Newman – $2.50; “The Eric P. Newman Collection, Part II,” Heritage Auctions November 15, 2013, Lot 33401 – $8.812.50. Newman novelty insert.
- PCGS MS67+FH CAC #25102097: As PCGS MS67+FH #25598904. Heritage Auctions, June 2, 2011, Lot 3545 – $18,400. As PCGS MS67+FH CAC #2510297. Stack’s Bowers, August 14, 2013, Lot 4095 – $25,850.
- PCGS MS67+FH #25396387: Heritage Auctions, October 18, 2012, Lot 3607 – $18,800. Brilliant.
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Design
Obverse:
The obverse displays Liberty standing in the opening of a wall with her right leg resting on the base and left foot raised as if walking forward. Her gown drapes loosely and is wrapped around her right arm but falls off the shoulders exposing the right breast. Her left arm holds a circular shield as if in a defensive posture; the shield displays the Union shield and several concentric rings including a circle of raised dots or rivets near the edge. Liberty’s right arm is extended, resting on the wall, and her hand holds an olive branch. Another drapery covers the shields bottom, extends across the front of Liberty, and ends beneath the arm on the top of the wall.
The word LIBERTY arcs across the top of the coin, the “L” partially covered by the olive branch, and “B” and “E” separated by Liberty’s head. Both wall sections display a rectangular panel of horizontal stripes, with IN GOD at the top of the left wall and WE TRVST (the “U” depicted as a “V”) on the right wall. Thirteen five-pointed stars form two columns along the wall edges next to the opening – seven to the left and six to the right. The step upon which Liberty stands displays the date in raised numerals. The designer’s initial M is to the right of the bottom star in the right column. Since this coin was struck in Philadelphia, there is no mintmark. Inside the flat rim is a concentric ornamental ring consisting of two raised angular dots alternating with a short, raised bar; the ring is broken by the step that displays the date.
Reverse:
The center obverse shows an eagle in flight, headed to the right, wings outstretched and raised. Inside the flat rim is a concentric ring of UNITED STATES at the top and the denomination QUARTER DOLLAR at the bottom, with seven five-point stars separating UNITED and QUARTER on the left and six five-pointed stars separating STATES and DOLLAR on the right. Centered dots separate the two words of both the legend and the denomination. OF AMERICA, in two lines and of smaller letters, lies below UNITED STATES. Below is the motto E PLURIBUS UNUM on two lines, E and PLURIBUS also separated by a center dot.
Edge:
The edge of the Type 1 1917 Standing Liberty Quarter is reeded.
Designer
Born in Everett, Massachusetts, Hermon Atkins MacNeil attended Massachusetts Normal Art School, currently known as Massachusetts College of Art and Design, graduating in 1886. Over the next few decades, he became famous for his sculptural depiction of Native American figures. MacNeil’s work includes pieces such as The Moqui Runner and The Sun Vow. While his most famous design is the Standing Liberty quarter, he is also famous for designing the East pediment of the US Supreme Court building titled Justice, the Guardian of Liberty.
Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1917 |
| Denomination: | Quarter Dollar (25 Cents USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 8,740,000 |
| Alloy: | .900 Silver, .100 Copper |
| Weight: | 6.25 g |
| Diameter: | 24.30 mm |
| Edge: | Reeded |
| OBV Designer: | Hermon A. MacNeil |
| REV Designer: | Hermon A. MacNeil |
| Quality: | Business Strike |
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Trivia: the use of the letter “V” in place of the U in TRUST and E PLURIBUS UNUM is more than a simple depiction. During the early 20th century it was popular for artists to incorporate Roman motifs into their works. The Latin alphabet lacked the comparatively modern letters U and J; I and V did triple duty as vowels, consonants, AND numbers whose use and pronunciation was dependent on context.
Sculptor Anthony de Francisci famously used the same practice in his design of the Peace dollar obverse, a decision that now flummoxes more than a few newbie collectors who submit questions about a “misspelling” on their grandparents’ silver dollars.