1964D Lincoln Penny: Copper Content & Collector Value Breakdown
February 27, 2026The Hidden History Behind America’s Most Controversial Quarter
February 27, 2026
Introduction: Beyond Book Value
Determining the true value of a Standing Liberty Quarter requires looking past the book price and understanding current market demand. This iconic series, designed by Hermon A. MacNeil, represents one of the most artistic achievements in American coinage, particularly in the Type 1 design that collectors prize for its intricate detail and historical significance.
Historical Significance and Design Evolution
The Standing Liberty Quarter series, minted from 1916 to 1930, underwent significant changes during its production run. The Type 1 design, which appeared from 1916 to 1917, featured Lady Liberty standing with her right breast exposed, holding a shield in her left hand and an olive branch in her right. This design was modified in mid-1917 to the Type 2 version, which added chain mail to cover Liberty’s chest and repositioned the eagle on the reverse.
The modification wasn’t merely aesthetic. As one collector noted in our discussion, “McNeil made a mistake when he ditched the Type I design for the lady dressed in chain mail for entry into World War I.” However, the reality is more complex. The government pressured MacNeil to modify the design due to public sentiment concerns, while also attempting to address practical minting issues.
Another significant design flaw that affected all Standing Liberty Quarters was the placement of the date on the highest point of wear. This unfortunate positioning meant that many circulated examples lost their dates quickly, making well-preserved specimens with visible dates particularly valuable to collectors.
Identifying Key Markers of Value
When evaluating a Standing Liberty Quarter, several factors determine its market value:
1. Full Head Designation
The most coveted attribute for Type 1 Standing Liberty Quarters is the “Full Head” designation. This premium designation indicates that Liberty’s head shows complete detail, particularly in the helmet area. As one collector observed about the featured coin, “A solid example with the coveted full head designation.” This feature can increase a coin’s value by 50-100% or more compared to examples without full head detail.
2. Strike Quality
Type 1 Standing Liberty Quarters are renowned for their intricate detail when fully struck. The feathers on Liberty’s wings, the folds in her gown, and the individual links in the shield all contribute to the coin’s visual appeal. A well-struck example allows collectors to appreciate “the full artistry intended by H. MacNeil,” as one enthusiast noted.
3. Mint Mark Rarity
While Philadelphia-minted examples are more common, coins from Denver (D) and San Francisco (S) mints often command premiums, especially in higher grades. The 1916 Standing Liberty Quarter, the first year of issue, is particularly scarce regardless of mint mark, with only 52,000 pieces produced.
4. Surface Preservation
Luster, toning, and the absence of marks significantly impact value. “Very blasty which I like,” commented one collector, referring to the vibrant luster that indicates minimal handling and proper storage throughout the coin’s lifetime.
Current Market Analysis
The Standing Liberty Quarter market has shown remarkable resilience over the past decade. According to recent auction data and dealer inventory checks, Type 1 examples in Gem condition (MS65 and above) with full head designation have appreciated steadily.
Auction Results and Price Trends
Recent auction results demonstrate the strong demand for premium Standing Liberty Quarters:
- 1916 Type 1 Standing Liberty Quarter (Full Head, MS65): $25,000-$35,000
- 1917 Type 1 Standing Liberty Quarter (Full Head, MS65): $3,000-$5,000
- 1917-D Type 1 Standing Liberty Quarter (Full Head, MS65): $4,000-$6,000
- 1917-S Type 1 Standing Liberty Quarter (Full Head, MS65): $3,500-$5,500
Coins without the full head designation typically sell for 40-60% less than their full head counterparts. Even common date Type 1 quarters in circulated condition (VF-XF) have seen price increases of 15-25% over the past five years, reflecting growing collector interest in the series.
Investment Potential
The Standing Liberty Quarter series offers several investment advantages:
The series combines historical significance, artistic merit, and relative scarcity in higher grades. Unlike some classic series that have seen speculative bubbles, Standing Liberty Quarters have appreciated steadily, driven by genuine collector demand rather than market manipulation.
The limited mintage of Type 1 quarters (approximately 7 million total across all three mints) creates a natural supply constraint. Additionally, the design’s susceptibility to wear means that well-preserved examples are increasingly difficult to find, particularly those with full head detail.
Factors Driving Value Up or Down
Factors Increasing Value
- Population Reports: As grading services update their population reports, the true scarcity of high-grade examples becomes clearer, often driving prices higher.
- Registry Set Competition: The popularity of PCGS and NGC registry sets has created additional demand for premium examples.
- Historical Interest: The coin’s connection to World War I and the artistic controversy surrounding its design continues to attract history enthusiasts.
- Series Completeness: Collectors building complete type sets or date runs drive consistent demand across all grades.
Factors Potentially Decreasing Value
- Economic Conditions: Like all collectibles, precious metals and numismatic values can be affected by broader economic trends.
- Grading Controversies: Inconsistent application of full head standards by grading services can create market uncertainty.
- Condition Misconceptions: New collectors sometimes overpay for coins they believe are high-grade but have technical issues.
Authentication and Grading Considerations
When purchasing a Type 1 Standing Liberty Quarter, authentication is paramount. The series is known for counterfeits, particularly for key dates like the 1916. Always purchase coins certified by reputable third-party grading services such as PCGS or NGC.
For the full head designation, grading standards vary slightly between services, but generally require complete separation of the three leaves on Liberty’s helmet. Some collectors prefer coins certified by the service they believe applies the standard most consistently.
Conclusion: A Timeless Classic with Strong Investment Merit
The Standing Liberty Quarter, particularly the Type 1 design, represents one of the most beautiful and historically significant series in American numismatics. As one collector aptly stated, “Type 1’s are so detailed when fully struck, truly a beautiful series which lets us enjoy the full artistry intended by H. MacNeil.”
The featured coin exemplifies the qualities that make Type 1 Standing Liberty Quarters so desirable: full head detail, strong strike, and excellent surface preservation. In today’s market, such a specimen represents not just a beautiful addition to any collection, but also a sound investment with demonstrated appreciation potential.
For collectors considering entering this market, the advice is clear: focus on quality over quantity, prioritize full head examples when possible, and be prepared to hold these coins as the market continues to recognize their true value. As one enthusiast noted about their personal ranking, this series belongs “high on my list, behind the $2.50 Indian head eagles” – a testament to its enduring appeal among serious collectors.
The Standing Liberty Quarter series offers something increasingly rare in today’s market: genuine artistic merit combined with solid investment potential. Whether you’re a seasoned collector or just beginning your numismatic journey, Type 1 Standing Liberty Quarters deserve serious consideration for their beauty, history, and value retention.
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