By Charles Morgan and Hubert Walker for CoinWeek Notes …..
Within the grand scheme of issues, the 1958 recession often called the “Eisenhower Recession” was comparatively minor. Despite the fact that it was probably the most important financial downturn between 1945 and 1970, it lasted solely eight months and was largely negated by robust financial progress beginning in Could 1958.
Nevertheless, because the recession started within the latter a part of 1957, it instantly influenced the United States Mint’s predictions of coin demand. In consequence, the Philadelphia Mint struck solely 6,360,000 quarters, an 86% lower from the 1957 issuance of 46,532,000 cash. This diminished mintage makes the 1958 the second-lowest mintage of the Philadelphia Washington quarter issuances, and the sixteenth lowest in your complete sequence.
Moreover, in 1958, the Philadelphia Mint reported massive decreases in cent, nickel, dime, and half-dollar manufacturing.
Nonetheless, the financial downturn didn’t have an effect on Mint Set gross sales too badly. Whereas 1957 gross sales slumped barely, in 1958, they hit a excessive of fifty,314 units. This was the most important quantity offered by the Mint since 1947. Collectors might buy these for $4.43 per set, $0.79 above face worth ($45.50 when adjusted for inflation). Lots of the highest-graded examples come from these units, typically with distinctive firming as a result of packaging’s sulfur content material. As we speak, they will typically be acquired for between $115 and $150.
Apparently, the Mint additionally struck many Kind B reverse quarters in 1958. These dies had been retired Proof dies, and because of this, many Kind B quarters seem Proof-like.
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Market Information and Noteworthy Specimens
When the Mint’s month-to-month stories revealed this dramatic downswing in manufacturing, collectors and sellers scrambled to buy as many examples as doable instantly from the Mint and rapidly pull them from circulation.
There was heavy hypothesis on this problem within the Nineteen Sixties. In 1965, Streator, Illinois, bag and roll seller Ray Kotansky was providing BU luggage of this date for $6,100 USD. Kotansky seemingly had many shoppers for the 1958 quarter and wasn’t alone in advertising them. In consequence, hundreds of Uncirculated rolls had been preserved – many nonetheless exist and seem in the marketplace sometimes.
Information from the grading companies again this up, as the difficulty has a lopsided licensed inhabitants.
Solely 20 examples have been licensed in any situation decrease than Mint State. These submitters should have been extraordinarily disillusioned, as in decrease grades, 1958 is simply definitely worth the silver worth of roughly $3.25–a lot lower than the grading payment. It isn’t till MS 64 that submitting this sort for grading turns into economically viable.
On the time of unique writing, cash graded MS64 are value between $25 and $30. This worth is comparatively secure, as seen in MS66. Even properly toned examples with full mint luster and excessive eye enchantment are value between $30 and $35. Whereas MS66+ examples typically promote for barely extra, one “problem-free” instance with comparatively unattractive spotty grey obverse firming was offered by Heritage Auctions in 2019 for an abnormally excessive hammer worth of $210. Apparently, there have been a sequence of eBay gross sales over the previous 12 months, with examples in all of those grades (MS64 – MS66) totaling lower than $20 per coin.
It’s in MS67 that the value recurrently jumps to 3 figures. For instance, Heritage offered one such coin for $336 in August 2022. This instance, with a comparatively weak strike, does, nevertheless, show spectacular reddish-yellow fading into blue obverse firming and rainbow reverse firming. Nonetheless, many examples nonetheless promote on eBay for as little as $40 to $50. It’s because the 1958 is among the best sorts of the sequence to find in such excessive grades.
With solely 88 MS67+ examples graded by CAC, NGC and PCGS, the 1958 Washington Quarter is taken into account conditionally scarce as soon as it hits this grade. Because the inhabitants of cash at this graded continues to rise, count on costs to proceed to melt. In April 2024, MS67+ cash had been bringing over $500 at public sale. Current public sale motion has the cash promoting for below $500, typically below $400.
The report worth paid for an MS68 coin was $4,443.75 for an attractively-toned NGC coin offered by GreatCollections in September 2018. That very same coin offered two years later for about $1,500 much less. It had upgraded from a PCGS MS67+ CAC.
Prime Inhabitants: PCGS MS67+ (57, 10/2024). NGC MS68 (5, 10/2024), and CAC MS67+ (0:5 stickered:graded, 10/2024).
Since 2020, the PCGS inhabitants of cash in MS67+ has elevated dramatically. The inhabitants stood at two cash in November 2011, not lengthy after introducing the plus grade. By Could 2016, solely two cash had been added to the pops. Three years later, the quantity had risen to about 18. As of March 30, 2024, the quantity had elevated to 49. By October 17, that quantity had risen to 57. CACG has reported 4 new grading occasions at this lecel since March 2024.
The provision of Premium Gem 1958 Quarters will not be but exhausted. We count on a coin to interrupt into the PCGS MS68 grade degree inside the subsequent 12 months.
- NGC MS68 #5856311-002: Heritage Auctions, November 17, 2023, Lot 3477 – $1,080. Good.
- NGC MS68 #6587981-001: GreatCollections, February 12, 2023, Lot 1290188 – View. Mottled firming.
- NGC MS68 #4825261-002: As PCGS MS67+ CAC #34455773. GreatCollections, April 1, 2018, Lot 564470 – View. As NGC MS68 #4825261-002. GreatCollections, September 9, 2018, Lot 621400 – View; GreatCollections, February 23, 2020, Lot 626078 – View; GreatCollections, Could 19, 2024, Lot 1583920 – View; “The Neon Lights Assortment,” GreatCollections, October 6, 2024, Lot 1671710 – View. Rainbow firming.
- NGC MS67+ #6967235-004: Heritage Auctions, October 15, 2024, Lot 25256 – $552. Rust firming alongside the periphery.
- PCGS MS67+ CAC #39807283: Legend Uncommon Coin Auctions, October 8, 2020, Lot 168 – $940; GreatCollections, Could 19, 2024, Lot 1583905 – View; GreatCollections, September 15, 2024, Lot 1658204 – View. Fiery orange and magenta firming.
- PCGS MS67+ CAC #39807648: Heritage Auctions, September 8, 2020, Lot 23287 – $576; GreatCollections, Could 19, 2024, Lot 1583923 – View. The obverse has sandy brown firming, and the reverse has darkish firming.
- NGC MS67+ CAC #3748176-091: Heritage Auctions, December 10, 2017, Lot 7361 – $456; Heritage Auctions, February 26, 2019, Lot 27383 – $504; Heritage Auctions, April 23, 2024, Lot 27411 – $264. Specked firming in metal blue and brown.
- PCGS MS67+ CAC #44157466: Heritage Auctions, April 15, 2024, Lot 93122 – $228. Apricot firming on the obverse with wealthy peacock inexperienced, rose, and orange firming on the reverse.
- NGC MS67+ CAC #6079133-013: Heritage Auctions, November 29, 2022, Lot 29181 – $504. Mild firming with a big fingerprint on the obverse.
- PCGS MS67+ CAC #39755603: GreatCollections, August 9, 2020, Lot 735906 – View; Heritage Auctions, Could 3, 2022, Lot 21389 – $492. Mint Set firming in blue and rust.
- PCGS MS67+ CAC #16501132: “Washington Rainbows Assortment, the #1 PCGS REgistry Set of Silver Washington Quarters, 1932-1964,” Stack’s Bowers, March 25, 2021, Lot 2343 – $900. Washington Rainbows on insert. Darkish pink, gold firming on the reverse, and alongside the periphery of the obverse.
- PCGS MS67+ CAC #38013826: GreatCollections, December 29, 2019, Lot 762067 – View; Heritage Auctions, April 26, 2020, Lot 7344 – $552; GreatCollections, December 6, 2020, Lot 912014 – View.
- PCGS MS67+ CAC #37847958: Legend Uncommon Coin Auctions, December 12, 2019, Lot 319 – $1,057.50; Heritage Auctions, June 7, 2020, Lot 7164 – $780. Orange, gold, and blue firming.
- PCGS MS67+ CAC #38454245: Heritage Auctions, January 7, 2020, Lot 23161 – $1,110. Throughout metal blue and rose firming on the obverse.
- NGC MS67+ CAC #2713525-006: Heritage Auctions, December 31, 2019, Lot 21244 – $420. Mild firming.
- PCGS MS67+ CAC #37176998: GreatCollections, August 25, 2019, Lot 723048 – View; Heritage Auctions, December 7, 2019, Lot 7331 – $840. Pale stone firming.
- PCGS MS67+ CAC #34094137: Heritage Auctions, April 28, 2019, Lot 7515 – $840; Heritage Auctions, August 18, 2019, Lot 7279 – $1,026. Mild brown firming speckled throughout the obverse and reverse.
- PCGS MS67+ CAC #37785717: Heritage Auctions, June 9, 2019, Lot 7431 – $1,020. Throughout mint set firming in gold and inexperienced.
- PCGS MS67+ #25631904: Heritage Auctions, Could 1, 2016, Lot 7817 – $1,527.50; “The jwb1040 Assortment,” Heritage Auctions, February 22, 2018, Lot 3655 – $870. Crescent rainbow firming alongside the highest of the obverse.
- PCGS MS67+ CAC #25307738: Heritage Auctions, June 5, 2014, Lot 3856 – $998.75. Rainbow firming on the periphery. Throughout firming in rose and inexperienced.
- PCGS MS67+ CAC #19708609: Stack’s Bowers, November 15, 2011, Lot 2197 – $2,185; “The Dr. David Poole Assortment of Silver Washington Quarters,” Heritage Auctions, January 10, 2013, Lot 4837 – $1,292.50. Typical metal grey, gold, and orange Mint Set firming.
Kind B Reverse, FS-901
- PCGS MS67+ #36192384: Heritage Auctions, March 14, 2019, Lot 3107 – $4,800. Peach firming with darker periphery firming in inexperienced, and maroon.
- PCGS MS67 #33637488: GreatCollections, Could 19, 2019, Lot 670770 – View.
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Design
Obverse:
Designed by John Flanagan, the obverse of the 1958 Washington quarter is predicated on a bust of the overall created by the neoclassical French sculptor Jean-Antoine Houdon in 1785. Nevertheless, Flanagan’s design differs from the unique bust in a number of methods, reminiscent of a barely totally different head form and several other curls of hair that aren’t on the bust; for comparability, the bust will be considered on the late president’s Virginia property, Mount Vernon. Below the left-facing bust’s chin is the motto IN GOD WE TRUST. The legend LIBERTY runs alongside the highest of the coin’s subject and the date (1958) under. In small letters, Flanagan’s initials “JF” will be discovered above the “8” in 1958 on the base of the bust.
Reverse:
In contrast to the obverse, there have been no restrictions positioned on the candidate sculptors when designing the Washington quarter reverse. Flanagan’s reverse is dominated by a heraldic eagle with outstretched wings and a left-facing head. The eagle is perched on a neat bundle of arrows with two intertwined olive branches under. Above the eagle will be learn the 2 principal inscriptions UNITED STATES OF AMERICA and E PLURIBUS UNUM. Lastly, at six o’clock on the design is the denomination written out as QUARTER DOLLAR.
Edge:
The sting of the 1958 Washington quarter is reeded.
Designer
John Flanagan was born in New Jersey in 1865 and lived in New York for many of his life. He started working with Augustus Saint-Gaudens in 1884 on the age of 20 and rapidly turned a well known sculptor and medallic artist in his personal proper. Saint-Gaudens made introductions for Flanagan at the USA Mint. Whereas the Washington quarter was his sole numismatic design, Flanagan designed quite a few well-known medals and sculptures, together with the official medal of the 1915 Panama-Pacific Worldwide Exposition, the official Verdun medal gifted to France by the United States, and the 1924 bust of Saint-Gaudens. Flanagan was additionally a member of the American Numismatic Society (ANS).
Coin Specs
| Nation: | United States of America |
| Yr Of Concern: | 1958 |
| Denomination: | Quarter Greenback (25 Cents USD) |
| Mint Mark: | None (Philadelphia) |
| Mintage: | 6,360,000 |
| Alloy: | 90% Silver, 10% Copper |
| Weight: | 6.30 g |
| Diameter: | 24.3 mm |
| Edge: | Reeded |
| OBV Designer: | John Flanagan |
| REV Designer: | John Flanagan |
| High quality: | Enterprise Strike |
Enjoyable Movie Truth
Hitman Chighur, performed by Javier Bardem in No Nation of Previous Males (2007), makes use of a 1958-dated quarter in his coin toss with a proprietor at a fuel station. Had the proprietor misplaced the coin toss, Chighur would have taken his life. As an alternative, the person selected heads, and heads it was. Chighur offers him the “fortunate quarter” and advises him to not put it into his pocket, “or it’ll get combined in with the others and change into only a coin. Which it’s.”
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