1796 Quarter Eagle Stars (1796 $2.50 Stars) NGC XF Details. The first United States Quarter Eagle is dated 1796. There are two varieties, with and without stars. The present 1796 Quarter Eagle coin is the former. Although having a higher mintage, the Without Stars type is more in demand by collectors because it is a one-year only type coin and is necessary to complete an advanced type set of gold coins or a very advanced type set of United States coins. However, with its mintage of 432, the With Stars type is also extremely rare, desirable and in demand by date collectors and investors.

Despite the details grade, mint luster is seen within the devices of both sides of the coin. There are a few wispy marks in the obverse field and light hairlines, which are probably a result of having been cleaned. The reverse shows slight abrasion on the eagles breast, tail feathers, and on the shield, consistent with the grade. There is light wear on Libertys cap and hair with less on her cheek and drapery. The motto on the reverse is complete.

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 Scots 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 source of Scots obverse design is probably a Roman engraving that copied a Greek goddess. In Scots mind the cap may have been a symbol of liberty; however, a Phrygian cap never looked like this one. A true Phrygian, or liberty cap was a close fitting, egg shaped cap that was worn by slaves and freed gladiators in Roman times. Slaves had shaved heads or very short hair. The cap covered this mark of slavery to show the wearer was a free man. The cap worn by Liberty has been called a turban, and because of it the design has been called the Turban Head. It is interesting to note that President Jefferson did not feel that the liberty cap was an appropriate symbol of freedom for the United States. He pointed out that we were never slaves and the Phrygian cap was used for slaves that had been freed. Perhaps because of its use in France and elsewhere in Europe, the Phrygian cap remained an important symbol on early United States coinage.

The coins 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 eagles right wing and under the left is inscribed E PLURIBUS UNUM. Sixteen stars are between the banner and the clouds above the eagles 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 eagles dexter or right, honorable, claw. In Scots 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 cant even get its symbolism correct.

All early quarter eagles are rare and sought by collectors and specialists in all conditions. In its population report, NGC shows 22 1796 With Stars certified in all grades.