Lot 1180
1796 $2.50 Capped Bust. No stars. PCGS graded EF-45. A lovely example. 963 struck. A lovely, still lustrous example from earliest period in U.S. coinage history, the opening year of production for this quarter eagle denomination. 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 evenly as the stars (along with the raised rim) took much of the heavy pounding. On this particular coin the curls on Liberty show much definition, and as nearly always seen the E of LIBERTY is weak (as it was opposite the eagle's tail). Surfaces are outstanding for their clean (but not "cleaned") appearance -- free of marks or adjustment lines. On the reverse there is an area of weakness at the lower shield, tail feathers, and arrow feathers, but again none of the usual minor imperfections from circulation and handling one finds on these. Perhaps 100 are known of the original 963 struck, and this one is carefully graded by PCGS.
An important type coin since these were 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. Pop 5; 45 finer. (PCGS # 7645) .
Estimated Value $70,000 - 80,000.
The Mark Gordon Collection Ex: Benson Collection.
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| Realized $77,625 |
