Rare gold coins are the pride and joy of a true numismatist’s collection and American collectors, especially, have a lot to be thankful for as there have been numerous of them minted during the country’s history. Things mostly started when the gold rush hit the nation and a lot of people started mining for gold. With all this extra precious metal around the government needed to create a currency using it so that the commodity could be properly valued and monetized. As a result, over the years a lot of different pieces were minted, some more successful than others.
The Quarter Eagle – Failed from the Start?
One main reason why the Quarter Eagle coins are classified as rare gold coins today is not particularly complimentary. The coin simply was not a success during the times when it was in production so people saw little reason to hold onto it. The main problem of this coin was its denomination; since it was named a Quarter Eagle then it means that it was worth $2.5. That might seem like a very strange currency to us today but the fact is that people during those days felt the same way. It was awkward to use the coin in routine, daily commerce and for large scale commerce it was unnecessary since larger denominations existed. As a result, not many of these coins were produced on an yearly basis and a lot less of them still remain today.
The Design of the Capped Bust Quarter Eagle
The Capped Bust Quarter Eagle was not the first design. The first one was known as the Turban Head and it was first minted in 1796. Production lasted until 1807 and a year later it was replaced with the Capped Bust design. This one showed the bust of a woman on one side, but this time she wore a cap instead of a turban, even though it still had the word Liberty inscribed on it. The other side featured a heraldic eagle with a shield sitting on a branch.
The Value of the Capped Bust Quarter Eagle
It seemed that the coin was doomed from the start. It was minted in 1808, but then production stopped, most thinking it was for good. However, it resumed in 1821 and lasted until 1834. Some years saw a very low mintage so those coins will be worth a lot more than the others. The last series featured the motto on the other side of the coin, making these ones extremely rare gold coins which could be worth a fortune.