Silver & Scarcity: The Dual Value of Herbert Hicks’ 1968-S Type F Washington Quarter

When Metal Takes a Backseat to History

As a bullion enthusiast, I live by weight and purity – but sometimes a coin stops me mid-calculation. The 1968-S Type F Washington Quarter isn’t just silver; it’s a numismatic masterpiece recently pulled from obscurity by PCGS authentication. Think of it this way: while its 0.1808 troy oz of silver gives it a $4.34 melt value today, its true worth lies in that magical intersection of rarity and provenance. This is where metal meets mythology in our collecting world.

The Hicks Effect: A Numismatic Detective Story

You can’t discuss this quarter without honoring Herbert Hicks – the collector-sleuth who first identified this rare variety. As forum legend @1tommy recalls, Hicks spent years scrutinizing Washington Quarters before spotting the Type F’s distinct reverse during their collaborative research. The real tragedy? PCGS only added it to their Complete Variety Set three years after Hicks’ passing, turning his life’s work into a collectibility phenomenon overnight.

“Herbert’s relatives discovered boxes of research after his death – they had no idea they were sitting on numismatic gold. His eye for detail was unmatched.” – @1tommy

That official recognition transformed this quarter from curious variety to registry set essential, creating demand that makes its silver content almost irrelevant.

Silver’s Supporting Role

The Bullion Basics

On paper, all 1968-S proofs share identical specs:

• 90% silver heart with 10% copper skin
• 6.25 grams of monetary history
• 0.1808 troy oz pure silver content

At today’s $24/oz spot price, that calculates to $4.34 in melt value – about what you’d pay for a fancy coffee. But oh, how the story changes when numismatic value enters the equation…

When Premiums Defy Metal Markets

While silver prices bounce like a rubber ball, the Type F’s collectibility premium holds steady. Consider @1tommy’s 2012 purchase at $99 – a staggering 2,280% above melt. Today’s graded specimens tell an even wilder tale:

• PR65: $150-$200 (a 3,500% metal markup)
• PR68: $400-$600 (where luster meets legend)

“This Proof 68 beauty might become the first officially recognized specimen. The strike is so sharp you could shave with it!” – @1tommy

Rarity Trumps Weight Every Time

Bullion stackers usually avoid proofs like toned coins avoid PVC, but the Type F breaks all rules:

• Exclusive Pedigree: Only confirmed in proof format
• Registry Royalty: Mandatory for PCGS’ 304-coin master set
• Population Poetry: Just 3 graded by PCGS (PR66, PR67, PR69)

When @davewesen revealed “794719 1968-S 25C FS-901 Type F Reverse PR69 USA” with that glorious TruView image, collectors collectively gasped – that eagle’s weak wing margins had never looked so strong.

The Art of Spotting a Type F

Separating this rare variety from common reverses requires a numismatic eye. Cross-referencing Variety Vista’s guide with forum wisdom reveals telltale signs:

The Type F Fingerprint

• Serif on the “N” in UNUM like a tiny typographic flag
• Leaf tips sharp enough to prick a fingertip
• Lower wing margins that fade into nothingness
• Doubled inner circle on the “Q” – a ghostly echo
• “E” and “S” in STATES cozying up without space

As veteran Tom notes: “That weak right wing margin is the Type F’s Achilles’ heel – inspect it like you’re looking for a fingerprint at a crime scene.”

Rarity vs Commonality

The Feeding Frenzy Factor

PCGS’ endorsement triggered three distinct buyer frenzies:

1. Registry Warriors: Completing their proof variety Everest
2. Hicks Historians: Building tribute collections
3. Silver-Gold Hybrids: Metal security meets numismatic upside

Forum threads overflow with tales of frustration: “I’ve cracked 200 proof sets without a single Type F sighting!” With PCGS populations still in single digits, this quarter proves how collectibility creates its own economic reality, untouched by silver’s whims.

Why Stackers Should Care

Paying 150x melt value seems insane until you consider:

• Silver’s decade return: 58% (respectable)
• Key coins’ decade return: 200-500% (thrilling)
• Diversification beyond metal’s rollercoaster
• Pride of ownership no bullion bar can match

The Type F offers what I call “bragging rights liquidity” – the joy of owning museum-worthy history that just happens to contain silver.

The Authentication Gauntlet

Even PCGS initially misidentified a Type G as Type F – such is the challenge. True verification requires:

1. Magnified inspection of that telltale “N” serif
2. Side-by-side wing margin comparisons
3. Leaf tip forensics under strong light
4. Die doubling analysis worthy of a CSI episode

Only trust examples certified by PCGS (like coin #794719) or NGC with explicit variety attribution. That eye appeal isn’t just beautiful – it’s your insurance policy.

The Ultimate Hybrid Treasure

The 1968-S Type F Washington Quarter represents our hobby’s perfect storm – enough silver to satisfy the stacker, enough history to thrill the scholar. While its $4.34 melt value provides a floor, its true worth lives in:

• The ghost of Herbert Hicks’ magnifying glass
• PCGS’ population reports thinner than a mint-fresh planchet
• That heart-stopping moment when you spot the serif

As @1tommy so eloquently put it: “Specialists live for these moments.” This quarter doesn’t just preserve silver – it immortalizes the passion of collectors who see beyond metal to the stories stamped within. That, my friends, is numismatic alchemy no spot price can measure.

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