1806/5 Draped Bust $2.50 Gold NGC MS60, 7x6 Stars

1806/5 Draped Bust $2.50 NGC MS60. 7x6 Stars. Only 480 Struck. Very rare. This early date rare mint state 1806/5 Quarter Eagle has an unusually sharp strike with bright mint luster within its devices. It is tied for the second finest at NGC and tied for finest at PCGS. The almost cameo appearance is a result of lightly outlined devices that are set against a darker background. No wear is seen, as expected for a mint state coin, and the surfaces are original, clean, and free of distractions worthy of mention. Unlike most coins of this type that have light striking in one area or another, this piece is well struck on both sides. Full details are seen on Libertys hair, the centers of the stars, the shield, the stars above the eagle, and the clouds.

The Early quarter eagle series consists on only eight dates from 1796 to 1807 with none made from 1799 to 1801 and none in 1803. The life-span of the series encompassed the presidencies of George Washington, John Adams, and Thomas Jefferson. This coin represents the second major variety of the date. The first was the BD-1 with the 1806/4 overdate and 85 stars on the obverse. The present coin, the BD-2, has a different overdate and 76 stars on the obverse. These are the only two known varieties for 1806.

The obverse design shows Liberty facing right. Below her is the date which is off center to the left. Between the date and the word LIBERTY on the left side of the coin are eight stars. Five stars follow LIBERTY down to the bust. Liberty wears a large, soft cap. Her hair flows down and also shows on her forehead. The design was probably taken from a Roman engraving of a Greek goddess. Libertys cap was certainly not a Phrygian or liberty cap. The liberty cap, emblematic of freedom, was worn by freed slaves and freed gladiators in Roman times. It was a close fitting cap used to cover a shorn head, which was one of the way slaves were identified.

The oversized cap worn by Liberty has been called a turban, and the design has been called the Turban Head because of it. The reverse shows a heraldic eagle. However, Scott mixed up the positions of the arrows and olive branch. The arrows held in the wrong claw signify defiant militarism. Either Scott made an error copying the image of the Great Seal, or he deliberately changed the symbolism. Perhaps the design was a warning to France, with whom the United States was engaged in an undeclared naval war, and others to be mindful of the new countrys sovereignty. In the field above the eagle are thirteen stars and above them, seven clouds. A banner from wing to wing has the motto E PLURIBUS UNUM.