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Quarter eagles became plentiful with change in standard
By William T. Gibbs
COIN WORLD Staff
It has a classic design, even a classic name, and just 10 to 14 coins are needed for a complete set, making it ideal for collec... Read more
Classic Head $2.50 Quarter Eagle
Quarter eagles became plentiful with change in standard
By William T. Gibbs
COIN WORLD Staff
It has a classic design, even a classic name, and just 10 to 14 coins are needed for a complete set, making it ideal for collectors with a decent collecting budget who desire a bit of a challenge. And yet it's not a series that immediately pops into mind when collectors gather to talk about U.S. gold coins.
This classic series is the Classic Head $2.50 quarter eagle, struck for six years only, from 1834 through 1839. It filled the gap between the Capped Head quarter eagle series of 1821 to 1834 and the long-lived Coronet series of 1840 to 1907.
The introduction of the Classic Head quarter eagle in 1834 represented a revolution of sorts. From 1796, when the $2.50 denomination was introduced, to 1834, quarter eagle production was sporadic (none were struck from 1809 to 1820, and there were other, shorter gaps in production) and mintages low (from a "high'" of 6,812 pieces in 1807 to a low of 427 in 1797). Most of the gold coins struck prior to August 1834 were immediately exported, for they were undervalued, with their bullion content worth more than face value. The Act of June 28, 1834, lowered the weight of gold coins and reduced the composition from 91.67 percent gold to 89.92 percent gold. Because of the new law, gold deposits soared, as did mintages.
While just 4,000 1834 Capped Head quarter eagles were struck from January to July under the old standards, 113,370 1834 Classic Head quarter eagles of the new standard were struck. Compare that to a total of 64,262 quarter eagles struck from 1797 to 1834 under the old standard. Combined production in Philadelphia in 1834, 1835 and 1836 totals more than 10 times the 1797 to 1834 production total.
The new quarter eagles went into circulation and remained there, unlike the earlier coins, which rarely circulated. That's why so many of the Classic Head quarter eagles are so affordable, even as a series, in circulated grades. Mint State examples, however, are much rarer due to the heavy circulation patterns.
The Classic Head design by William Kneass is a close copy of John Reich's Classic Head design used on the half cent (introduced in 1809) and cent (1808). The reverse is a modification the design used with the Capped Head design (though lacking the E PLURIBUS UNUM).
It was struck at four Mints: Philadelphia, Charlotte, Dahlonega and New Orleans. The C, D and O Mint marks appear above the date on the obverse. Branch Mint coins are much rarer than the Philadelphia Mint coins.
Classic Head $2.50 quarter eagle |
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| Dates of authorization: | June 28, 1834; Jan. 18, 1837 |
| Dates of issue: | 1834-1839 |
| Designers: | Obverse: William Kneass Reverse: John Reich-William Kneass |
| Engraver: | William Kneass |
| Diameter: | 18.20 mm/0.72 inch |
| Weight: | 4.18 grams/0.13 ounce |
| Metallic content: | (1834-1836): 89.92% gold, 10.08% copper and silver (1837-1839): 90% gold, 10% copper and silver |
| Weight of pure silver: | (1834-1836): 3.758 grams/0.12 ounce (1837-1839): 3.762 grams/0.12 ounce |
| Edge: | Reeded |
| Mint mark: | 1838-1839 only, obverse above |
Marketplace
Public Auctions
| Name | Grade | Price | Date | Firm | Lot Number | Certified |
|---|---|---|---|---|---|---|
| 1834 $2 1/2 -- Improperly Cleaned -- NGC Details. | MS-60 | $1,175.00 | February 2013 | Heritage Auctions | 4738 | NGC Details |
| 1834 $2 1/2 Classic -- Improperly Cleaned -- NGC Details. XF. NGC Census: (21/860). PCGS | EF-40 | $499.38 | February 2013 | Heritage Auctions | 8434 | NGC Details |
| 1836 $2 1/2 Script 8 -- Scratched -- ANACS. AU58 Details. NGC Census: (231/309). PCGS | AU-58 | $705.00 | April 2013 | Heritage Auctions | 9214 | ANACS |
| 1836 $2 1/2 Script 8 AU55 NGC. NGC Census: (193/542). PCGS | AU-55 | $1,198.50 | April 2013 | Heritage Auctions | 24329 | NGC |
| 1837 $2 1/2 -- Obv Scratched -- NGC Details. XF. NGC Census: (19/215). PCGS | EF-40 | $646.25 | December 2012 | Heritage Auctions | 24369 | NGC |
| 1837 $2 1/2 -- Obv Scratched -- NGC Details. XF. NGC Census: (19/216). PCGS | EF-40 | $470.00 | February 2013 | Heritage Auctions | 20320 | Details NGC |
| 1838 $2 1/2 -- Rim Damaged -- NGC Details. XF. NGC Census: (15/227). PCGS | EF-40 | $514.65 | March 2013 | Heritage Auctions | 8151 | NGC Details |
| 1838 $2 1/2 MS60 NGC. | MS-60 | $3,055.00 | February 2013 | Heritage Auctions | 4742 | NGC |
| 1839-D $2 1/2 -- Improperly Cleaned -- NGC Details. | AU-50 | $6,187.55 | April 2013 | Heritage Auctions | 5479 | NGC Details |
| 1839-O $2 1/2 AU55 NGC. | AU-55 | $5,581.25 | April 2013 | Heritage Auctions | 5480 | NGC |
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Auctions
- 1880-S $1 MS65+ NGC. NGC Census: (31485/14365). PCGS $141
- 1899-O $1 MS66 NGC. CAC. NGC Census: (1065/110). PCGS $353
- 1887/6 $1 MS63 PCGS. PCGS $485
- 1881-S $1 MS63 NGC. NGC Census: (41021/160129). PCGS $89
- 1926 $1 MS64 NGC. NGC Census: (3088/745). PCGS $89
- 1859-O 10C -- Bent, Cleaned -- NGC Details. XF. NGC Census: (4/105). PCGS $47
- 1972-S $1 Silver MS66 PCGS. PCGS $23
- 1921-D 10C Fine 12 NGC. NGC Census: (67/391). PCGS $129
- 1884-O $1 MS63 NGC. NGC Census: (63819/96393). PCGS $65
- 1955 50C PR66 NGC. NGC Census: (949/3771). PCGS $61
- 1904-O $1 MS64 NGC. NGC Census: (57595/17058). PCGS $74
- 1852 $20 AU55 PCGS. PCGS $2,820
- 1971-S $1 Silver MS66 PCGS. PCGS $44
- 1888-S $1 -- Obv Improperly Cleaned -- NGC Details. UNC. NGC Census: (37/2882). PCGS $259
- 1909-S VDB 1C MS65 Red PCGS. PCGS $4,994
- 1951-D 50C MS65 Full Bell Lines PCGS. PCGS $188
- 1895-O $1 -- Improperly Cleaned -- NGC Details. VF. NGC Census: (86/3598). PCGS $259
- 1938-D 10C MS66 Full Bands PCGS. PCGS $84
- 1926-D $1 MS65 NGC. NGC Census: (488/104). PCGS $764
- 1880-S $1 MS64 NGC. NGC Census: (50565/45798). PCGS $74
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- Modern Commemoratives 1982-2013
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2.50 dollar
- Capped Bust $2.50 Quarter Eagle
- Capped Draped Bust $2.50 Quarter Eagle
- Capped Head $2.50 Quarter Eagle
- Classic Head $2.50 Quarter Eagle
- Coronet $2.50 Quarter Eagle
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3 dollar
5 dollar
- Capped Bust, Small Eagle $5 Half Eagle
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- Modern Commemoratives 1982-2013
- American Eagles
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10 dollar
- Capped Bust, Small Eagle $10 Eagle
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- Modern Commemoratives 1982-2013
- American Eagles
- American Buffalo
- First Spouse
20 dollar
- Coronet Head $20 Double Eagle
- Saint-Gaudens $20 Double Eagle
- Saint-Gaudens Ultra-High Relief $20 Gold
