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October 26, 2015

COIN OF THE WEEK

Rare 1796 Draped Bust $2.50 Gold NGC AU58 . - $159,000.
Click on Coin Image to enlarge


Very choice lustrous specimen of America's first quarter eagle gold coins. This first United States Quarter Eagle is dated 1796. And there are two varieties, with and without stars. The With Stars type is also extremely rare, desirable and in demand by date collectors and investors. All early quarter eagles are rare and sought by collectors and specialists in all conditions. In its population report, NGC shows 7 1796 With Stars certified in AU58. A fantastic opportunity for the investor, collector or specialist.

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

President Thomas Jefferson appointed Robert Scot Chief Engraver of the Mint on November 23, 1793. Although he was criticized for his designs, they were the first struck for the United States. Scot had been an engraver of paper money during the Revolution. His ability to work as a die cutter was somewhat limited, and he had failing eyesight. Despite these limitations he engraved dies that created the first copper, silver, and gold coinage. The coins he produced had errors, and they were not the same quality as European coinage, however, Congress would not allow a European firm to contract the work. It was the best that the young country could produce at the time.

The obverse design of the quarter eagle shows a full figured bust of Liberty facing right with the date below and slightly to the left. Above the date are eight stars on each side of LIBERTY, one for each state of the Union at the time, including newly admitted Tennessee. Subsequent dates of this design type had different arrangements of stars, including seven and six, and eight and five. Liberty is wearing an oversized, soft cap. Her hair shows on her forehead and flows down the side of her face and neck. The bust is draped in a kind of classical design, which was designer Robert Scot’s goal. However, the ancients never used drapery the way Scot did. His bust is draped more like a head waiting for a body to be sculpted.

The coin’s reverse is an adaptation of the Great Seal of the United States. The legend UNITED STATES OF AMERICA surrounds the design. A banner over the eagle’s right wing and under the left is inscribed E PLURIBUS UNUM. Sixteen stars are between the banner and the clouds above the eagle’s head. Other dates had various arrangements of stars, including fourteen in a cross and thirteen in an arc. The shield, with its sixteen stripes, represents the Union. Some other dates had thirteen stripes on the shield. Mint Director Elias Boudinot realized that additional territories would become new states. Obviously, the number of stars and stripes had to be fixed because they could not increase indefinitely. At some time in 1797 he ordered Scot to limit the number of stars and stripes to thirteen for the first states. However, he left the placement of the stars to Scot.

In its talons the eagle holds the traditional symbols of war and peace, the arrows and olive branch; however, in an incredible blunder Scot mixed up the positions of arrows and olive branch. Traditionally the olive branch is held in the eagle’s dexter or right, honorable, claw. In Scot’s version, the arrows are honorable and the olive branch is in the less honorable or sinister claw. This mistaken symbolism, if intended, shows either defiant militarism or political stupidity. On the other hand, if not intended, the mistake shows a blundering young country that can’t even get its symbolism correct.


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ADDITION NEW COINS ADDED - (Week of 10/26/2015)

 

1840-O Liberty Seated 25C PCGS MS65

1840-O Liberty Seated 25C NGC MS63. Virtually white

1838 Capped Bust 25C NGC MS64

1876 Liberty Seated 25C PCGS MS66 CAC. A stunning gem

1797 Draped Bust 50C NGC AU50. Small Eagle

1794 Flowing Hair 50C NGC XF45

T-64 1864 $500 Confederate Currency PCGS F12

1861 Liberty Gold $5 PCGS XF45. Civil War Gold $5.

1857-S Liberty $20 S.S. Central America, PCGS MS64 CAC

1857-S Liberty Gold $20 S.S. Central America, PCGS MS65

1860-S Liberty Gold $20 PCGS AU58 CAC. No Motto

1888 Gold $1 PCGS PR65+ DCAM CAC. Gem Deep Cameo

1860-S Gold $1 PCGS MS62+. Very Scarce Date

1859-C Gold $1 NGC MS61

1855-C Gold $1 NGC MS60. Only Charlotte Mint Type 2 Gold Dollar

1855-C Gold $1 NGC AU58. Type 2 Gold Dollar

1855-C Gold $1 PCGS AU53. Well struck for the date

1849 Gold $1 PCGS MS65+. Open Wreath

England 1797 Silver Dollar Counter-stamped Mexico 8 Reales, PCGS XF45


Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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