1798 Quarter Eagle (1798 $2.50) NGC AU58. Wide Date (BD-2, R-5). Just two different varieties are known for the 1798 quarter eagle, and both are rare. The first has a close date on the obverse, and four berries on the reverse branch. The second, of which we presently offer a high-grade example, has a wide date, with five berries on the reverse branch. As noted by Bass-Dannreuther, both dies of this variety appear to have been retired in rather good condition, a rare occurrence for gold coins from this era. Interestingly, the two dime varieties (1798 JR-4 and 1800 JR-1), which used the same reverse die, are always seen with some die cracks. This indicates that the quarter eagles were struck before any dimes were struck with this reverse. However, dies were often mixed and remarried with opposite dies, making it possible that a 1798 quarter eagle with five reverse berries, and die cracks exist.

Hilt and Bass-Dannreuther, among other researchers of the series have mentioned that it appears that the first coins of this variety were not delivered until December 28, 1799, in a delivery of 480 coins. That is the usual quoted number of pieces struck, but more deliveries might have included this variety, making the true total mintage an estimated 480 to 838 pieces. With an estimated fifty pieces known in all grades, it would appear that the true mintage was closer to the latter number.

Less than eighty 1798 quarter eagles are known in any grade, of both varieties combined. This makes it a very rare date, and offerings are rare in any condition. The present example is a full prooflike example, from the earliest die state known for both dies. Moderately green-gold is seen on both sides, with luster abundant except for the highest points. Some very light wear from circulation is visible, although the wear might be from handling only, as at first glance the coin appears to be uncirculated. The strike is nearly full, exhibiting all of the important design features quite sharply. No major blemishes are seen on either side and thus this is a great coin for an advanced set of early quarter eagles. This coin has been certified by NGC in a new holder.