Lot 1881
1796 $2.50 Capped Bust. No stars on obverse. PCGS graded AU-53. A lovely example from the famous Harry Bass, Jr. Collection. The cameo obverse design was quickly abandoned as the devices wore after just limited circulation, this caused by the open fields. Once stars were added later in 1796, the central devices wore more slowly. On this particular coin the curls on Liberty show some definition, and as nearly always seen the E of LIBERTY is weak (as it was opposite the eagle's tail). On the reverse there is an old scrape across the eagle's breast, and a few other minor imperfections from circulation and handling. Perhaps 100 are known of the original 963 struck, and this one is likely in the top half or even higher. PCGS has graded 8 as such, with 44 as AU-55 and AU-58 combined, and only 3 graded as Mint State above.
An important type coin as these were only struck in the early part of 1796, and they are the first quarter eagles issued by the United States. Always in high demand by collectors.
Estimated Value $40,000 - 50,000.
From Bowers & Merena's Harry Bass, Jr., collection Sale, October 1999, lot 262; earlier from Glendening's sale of October, 1970, lot 884.
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| Realized $48,300 |
