1796 $2 1/2 No Stars--Ex: Jewelry, Cleaned--ANACS. AU ...

Description

Elusive 1796 No Stars Quarter Eagle

1796 $2 1/2 No Stars--Ex: Jewelry, Cleaned--ANACS. AU Details, Net XF40. Breen-6113, Bass-3002, R.5. The Mint Act of April 2, 1792 authorized the production of Quarter Eagles at the weight of 64.5 grains. While Half Eagle and Eagle production commenced in 1795, the Quarter Eagle, a less favored denomination, had to wait until 1796. The obverse design was similar to that of the 1795 Half Eagle and Eagle, but the stars were omitted from the periphery. The reasons for this omission are not clear, but may have had something to do with Breen's assertion that "the dies show evidence of careless haste, suggesting time pressure." The reverse holds two "firsts" in U.S. numismatics. This issue is the first gold coin to display the Heraldic Eagle reverse, and it is also the first coin of any denomination to exhibit 16 stars on the reverse in commemoration of Tennessee's admission to the Union. Only 963 pieces were produced, 66 coins on September 22 and 897 coins on December 8, 1796. All of these coins were delivered to the Bank of the United States, the institution that most likely deposited the bullion for coinage. Possibly 80-100 pieces are extant today in all grades. This example has bright, yellow-gold surfaces that exhibit light, wispy hairlines, more noticeable on the obverse. The design elements are well impressed throughout, the only apparent weakness being on the eagle's breast. A small indention is seen on the obverse rim and adjacent field at 2 o'clock, and a few small, unobtrusive scratches are apparent on Liberty's forehead and cap, and on the eagle's neck, breast, and adjacent shield. The design features are well centered on the planchet. This elusive coin should elicit spirited bidding among type collectors, as it is necessary for a complete collection of U.S. type coinage.
From The Paulsboro Collection, Part Two.(#7645) (Registry values: P10)

Coin Index Numbers: (NGC ID# 25F2, PCGS# 7645, GSID# 8208)

Metal: 91.67% Gold, 8.33% Copper
Weight: 4.37 grams
AGW: 0.1288oz
Mintage: 963

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View all of [The Paulsboro Collection, Part Two ]