Two one-year gold $2.50 quarter eagle types in lightly circulated condition are among the rarities featured at Heritage’s Sept. 11 to 15 post-Long Beach auctions.

The 1796 Capped Bust, No Stars gold quarter eagle is the first example of the denomination, and just 963 examples were produced with no obverse stars before, later in the year, stars were added to the obverse.

The open obverse fields of the No Stars examples give a spare, cameo-like quality to the obverse design. Two die pairs, the BD-1 and BD-2, struck the pieces, and both used the same obverse die (as cataloged in Early U.S. Gold Coin Varieties, 1795-1834, by John W. Dannreuther and Harry W. Bass Jr.).

The offered example, graded About Uncirculated 50 by Professional Coin Grading Service, represents the latter die pair, BD-2, with the second reverse die featuring arrows that extend only to the end of N in UNITED on the reverse. Dannreuther estimates that the BD-2 pairing struck the majority of the issue, with 100 to 125 pieces surviving today.

Heritage’s cataloger praises the hints of luster in the protected areas, with even, light wear and some planchet adjustment marks seen in the dentils on the reverse rim at 3 o’clock.

Another always-popular one-year type is the 1808 Capped Draped Bust gold quarter eagle, where a single set of dies struck 2,710 examples, of which around 150 survive today. The denomination would not be struck again until 1821, since quarter eagles saw only modest demand in commerce. Heritage appreciated the orange-gold color on both sides and the overall strong strike of the PCGS AU-53 offering, while recognizing, “The only marks of any consequence are a tiny cluster of four planchet flaws in the left obverse field and other, less-obvious ones close to star 5.” It last sold at auction at Heritage for $85,187.50 in August 2016.

1792 half disme: one year only

Another exciting small-sized coin that is broadly considered a one-year type is the 1792 Flowing Hair half disme, which has long been collected as both a pattern and among regular issued coins. Heritage summarizes the current scholarship on the issue, writing that it is, “now fully recognized as the first official United States coinage issue struck after the passage of the Mint Act of April 2, 1792,” explaining, “They were struck on Mint machinery in the basement of sawmaker John Harper before the actual Mint buildings were constructed and readied for coinage operations, which commenced in the following year.”

This one, graded AU-50 by PCGS, last sold for $129,250 at Heritage’s January 2013 Florida United Numismatists Platinum Night session and, “is covered in mottled amber, gold, rose, and blue tones on each side, with considerable life and vibrant luster to the surfaces underneath the moderately deep patina.” The denomination would return in 1794 with the Flowing Hair half dime, having a new obverse portrait, now facing right, and a new eagle within a wreath on reverse.

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