• The Mint Act of 1792 established the quarter in the US monetary system
• The quarter, equal to one quarter of one dollar, as a denomination was chosen over a 20-cent piece
• The quarter was a “break” with the decimal coinage system established due in large part to the popularity of the Spanish “bit,” equal to 12.5 cents, in the colonies.
• Because of the connection, in its early years the quarter was commonly referred to as “two bits.”

Though authorized earlier, the quarter did not go into production until 1796. For most of its history:

• The coin was comprised almost entirely of silver
• The first type minted displayed an draped Liberty bust.

Quarter Varieties changed frequently by modern standards:

• In 1815, it was decided that a capped Liberty figure would replace the draped one
• In 1831, the coins were again revised to be slightly smaller in diameter
• The Liberty Seated design was inaugurated in 1838 and was used continuously through 1891

In 1875, for the first time, the Mint began producing 20-cent pieces after a period of immense nickel hoarding made it difficult for merchants to make change on quarters.

• Over 1 million 20-cent coins, using the Seated Liberty design, were minted in the first year
• Soon, they proved unpopular and production was discontinued in 1878

Modern Quarters:

The 1916 Standing Liberty design was instantly praised for its beauty

However, by 1932 the design was abandoned in favor of a profile of George Washington, the same design used on quarters today.

The new issue was originally intended as a commemorative coin to honor the bicentennial of Washington’s birth. However, after the coin proved popular with the public, its production was ordered to continue.

Washington Quarter Facts:

1. The quarter’s metal content remained at 90% silver until 1964, when it was decided to remove the metal entirely and replace it with a copper-nickel alloy.
2. The new coins were fashioned by binding an upper and lower layer of silvery copper-nickel to a copper core
3. The change was made after the price of silver had risen to a point where the intrinsic value of the silver far exceeded its nominal value.
4. In 1999, the 50 State Quarters program was inaugurated and the Mint issued a series of 50 quarters with reverse designs representing each of the different states.
5. The program was later expanded to include non-state entities and territories as well.