The 1796 Quarter Eagle gold coin, valued at an astounding $3.2 million, stands as a testament to early American coinage and the nation’s rich history. Its rarity, historical significance, and unique design elements make it a coveted piece among collectors and historians alike.
Historical Context
In 1796, the United States Mint introduced the Quarter Eagle, a $2.50 gold coin, as part of its efforts to establish a standardized national currency. This coin was among the first gold denominations minted in the U.S., following the Half Eagle and Eagle coins. The 1796 Quarter Eagle is particularly notable for its two distinct varieties: the “No Stars” and “With Stars” designs on the obverse.
Design and Specifications
| Feature | Details |
|---|---|
| Obverse Design | Capped Bust of Liberty facing right; “No Stars” variety lacks stars around Liberty, while “With Stars” features 16 stars representing the states at the time. |
| Reverse Design | Heraldic eagle with a shield on its breast, clutching arrows and an olive branch. |
| Composition | 91.67% gold, 8.33% copper |
| Weight | 4.37 grams |
| Diameter | 20 mm |
| Edge | Reeded |
Rarity and Mintage
The 1796 Quarter Eagle’s rarity is a significant factor in its high valuation. The “No Stars” variety had a mintage of only 963 coins, making it exceedingly scarce. Estimates suggest that between 100 to 125 of these coins survive today.
PCGS The “With Stars” variety is also rare, though slightly more common than its counterpart.
Auction Records and Valuation
The value of the 1796 Quarter Eagle has seen substantial appreciation over the years:
- 2008: A “No Stars” variety graded MS65 by PCGS sold for $1,725,000 at a Heritage Auction, setting a record for early U.S. gold coins at that time.
- 2022: A “No Stars” specimen in exceptional condition fetched $2.16 million at auction.
- 2024: The most recent sale saw a “No Stars” variety surpassing the $3.2 million mark, underscoring its escalating value.
Factors Influencing Value
Several elements contribute to the coin’s substantial worth:
- Historical Significance: As one of the earliest U.S. gold coins, it holds immense historical value.
- Rarity: Limited mintage and surviving specimens enhance its desirability.
- Condition: Coins in superior condition command higher prices.
- Provenance: A well-documented ownership history can increase value.
Identifying Authentic Specimens
Due to its value, the 1796 Quarter Eagle has been subject to counterfeiting. To ensure authenticity:
- Certification: Seek verification from reputable grading services like PCGS or NGC.
- Provenance: Verify the coin’s ownership history.
- Physical Examination: Consult with numismatic experts familiar with early U.S. gold coinage.
Conclusion
The 1796 Quarter Eagle gold coin is more than a piece of currency; it’s a relic of American history. Its rarity and historical significance make it a prized possession for collectors, with values now exceeding $3.2 million.
FAQs
How many 1796 Quarter Eagle coins exist today?
Estimates suggest that between 100 to 125 “No Stars” varieties survive today.
Why are these coins so valuable?
Their limited mintage, historical context, and documented provenance contribute to their high value.
How can I verify the authenticity of such a coin?
Obtain certification from reputable grading services and consult numismatic experts.
Have there been any recent sales of this coin?
Yes, a specimen sold in 2024 for over $3.2 million.
Are there replicas or restrikes of this coin?
Yes, replicas exist and are less valuable than the originals.
