
$2.50 Quarter Eagle
The gold quarter eagle, value $2.50 face worth, was authorized by the Mint Act of April 2, 1792, though the first cash of this denomination did not appear till 1796. In a little bit of an odd twist, nowhere on the coin is the face value denoted.
The first gold quarter eagle was the Capped Bust to Right sort of 1796-1807. The obverse shows Liberty wearing a head turban fashionable with ladies of the late 18th century. For a long time, the turban was incorrectly thought by many to be a liberty cap derived from historical Rome, as was the case with other United States coinage. Analysis later uncovered the 1825 writings of Mint Director Samuel Moore, who verified the true nature of Liberty’s head attire. For this reason, numismatists also call this the Turban Head type. An instance is seen instantly below.
Less than 20,000 Turban Head Quarter Eagles had been minted. Tensions between the U.S. and Europe all through the 1790s and early 1800s drove European gold costs higher. Bullion sellers exploited this case by acquiring American gold coinage in change for comparatively low-cost Mexican silver and exporting it to overseas melting pots at a substantial profit. The danger of quick doom greatly curtailed manufacturing of all U.S. gold cash in the course of the earliest years beneath the Constitution.
The Mint hired John Reich as Assistant Engraver in 1807. Reich was a extremely reputed German die sinker who arrived in the United States as an indentured servant in 1801. After six years of failing to safe permanent employment at the Mint due to inside politics (apparently, nobody wished to offend the sensibilities of Chief Engraver Robert Scot), Reich started planning to return to Germany. By the intervention of President Thomas Jefferson, the assistant’s position was created for Reich to retain his talent.
Reich immediately got down to improve the appearance of United States coinage, together with a brand new gold quarter eagle, released in 1808. Reich depicted Miss Liberty dealing with left, wearing a mobcap decorated with the word LIBERTY. The Capped Bust to Left, sometimes often called the Capped Draped sort, featured a considerably realistic eagle extending its wings sitting atop an olive department, while holding arrows suggesting drive, if necessary, to defend itself. Reich’s eagle reverse would stay a fixture on U.S. coinage for the following one hundred years.
The Capped Bust to Left Quarter Eagle was in manufacturing for the year 1808 only. A single set of 1808 dies were made, and numismatists theorize it broke after solely 2710 items have been made. Thereafter, quarter eagle gold coinage was suspended as a result of continued threat posed by international bullion dealers.
Quarter eagle production resumed in 1821. Although gold coinage still had bother remaining in circulation because of its excessive intrinsic metallic value, a number of banks deposited gold bullion from Mexico and requested quarter eagles in return under the Mint’s “Free Coinage” policy. Reich resigned from the Mint in 1817 in disgust over his stagnated salary of $50/month, so the responsibility of resurrecting the quarter eagle fell to Robert Scot.
Scot’s Capped Head to Left type was nothing greater than a barely modified version of Reich’s 1808 design. At age seventy seven and with failing eyesight, Scot was probably not up to the task of originating a brand new design from scratch. The most noticeable distinction was a 1.5 mm (.059 inches) lower in diameter. The burden remained consistent, so the 1821 quarter eagle edition was thicker than its predecessors. In 1829, the diameter was lowered by another .three mm. The Capped Head to Left was minted in small numbers practically every year until 1834, but by no means gained a foothold in American society because its gold content was price greater than its face worth, making it topic to exportation and melting.
At Valueincoins.com find information about eagle quarter, indian head quarter eagle, and 1908 quarter eagle.
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