1802/1 Quarter Eagle - 1802/1 Quarter Eagle $2.5 BD-1 R-4 NGC MS62

1802/1 Quarter Eagle (1802/1 $2.5) NGC MS62. The so-called 'Spiked Shield variety', one of those coins whose overdate status has been disputed. While the last digit of date certainly shows traces of an under digit, we can not say with certainty if this is a 1 or something else, perhaps a repunched 2. More modern researchers agree with us on this, and some, including the Bass-Dannreuther has listed this date just as 1802. NGC did the same on their holder, where the correct variety was not identified, but for completeness and because of numismatic tradition we will continue to call this an 1802/1, for now. Most of the research has focused on the half eagle, which also has an overdated variety, as did the half cents that were struck in 1802 (over 1800). As can be seen, this certainly was common practice at the Mint, and certainly used in 1802 on a number of different denominations.

The total mintage of the 1802 quarter eagle was divided over three die marriages, all which shared a common obverse die paired with a different reverse die. The present variety, constituting most examples of this date is easily identified by the reverse, which will show a line (spike) from the upper left shield tip to the left (viewers right) of the eagles wing. This is basically the only diagnostic that is needed to identify this variety, and can be seen easily, even without magnification. This die was used for two different dime varieties as well, as it was common practice at the early Philadelphia Mint to use some dies for both the dimes as well as quarter. This was done to save costs for the Mint at the time, where money was hard needed during its first couple of decades.

The three die varieties totaled to 3,035 coins, a relatively high number within the context of the series, but a very low mintage compared to most other series, even those of the same period. The present variety is the most available of these, but with approximately 100 pieces known in all grades it can not be considered to be a common or easily acquired issue. The other two varieties have approximately 100 coins known as well, in total, making the total number of pieces known for this date just a mere 200 coins. As can be guessed, this number includes impaired, cleaned, damaged or just circulated examples, and uncirculated coins such as the present example are seldom encountered.

The presents coin shows total original fields with excellent eye-appeal, and would be a perfect coin for a high-end, carefully selected type sets with original coins. Adjustment marks, as made by the Mint during the time of striking are noted near the left obverse rim, but are not distracting and give valuable insight into the practices at the Mint in the early 19th century. Sun-yellow gold, with darker highlights are visible on both sides, and look extremely pleasing in hand. Some minor marks are noted on both sides from handling and contact with other coins, but none are very deep or worth to be individually mentioned. The spiked shield is easily visible, making this coin easily identifiable when it comes to the variety. A great, original example of this seldom offered early American gold coin, a rare survivor from an original mintage of just over 3,000 coins.