Lot 3327
1796 $2.50 Capped Bust. Stars. PCGS graded AU-55 BD-2, Breen-6114. Lightly toned with some luster visable. A worldly dose of pleasing golden color enlivens the broad expanse of open fields and raised devices on this Stars on Obverse quarter eagle struck the first year of issue. The fields are essentially well cared for so desirable a grade as AU55, with the strike bold enough to warrant special mention. Careful scrutiny with a magnifying glass reveals the following minor points: minor wear on the forehead and front of cap where the two merge together (more than likely due to strike); a little patch of crosshatch adjustment lines in the shield on reverse. The fields are remarkable for their smooth freedom from marks. We not a tiny lint mark touching the cloud below (O)F. That is all. The coin is gorgeous!
It is believed -- based upon estimates published by Walter Breen -- that only 432 examples were struck of the second or "Stars Obverse" quarter eagle. Interestingly, these were of a design motif that would be discontinued after only a few short years, 12 to be exact. Within these 432 there is a single die variety.
Designed by Robert Scot, the 1796 quarter eagle features the capped head ("bust") of Liberty looking right. The field has 16 stars arranged 8 + 8.
The reverse carries the familiar Heraldic Eagle design similar to that used on gold and silver denominations of the late-1700s to early 1800s era. Adapted from the Great Seal of the United States, the center motif depicts an eagle with a shield ("escutcheon") on its breast, holding an olive branch and arrows in its talons, and in its beak a ribbon inscribed E PLURIBUS UNUM. A "crest" of stars is above, with a row of clouds in an arc extending from one wing to the other. The inscription UNITED STATES OF AMERICA surrounds. There is no mark indicating the denomination.
Of the 432 pieces believed to have been minted, it has been estimated by students of the subject, that perhaps as few as 40 or 50 survive in all grades. Pop 5; 4 in 58; 1 in 61; 1 in 62; 1 in 63. (PCGS # 7647) .
Estimated Value $100,000 - 110,000.
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