1826/5 Quarter Eagle - 1826/5 $2.50 PCGS AU55. Early Quarter Eagle. This rare key date 1826/5 Capped Head Quarter Eagle shows a very strong strike with full details seen on the centers of the stars, the hair details, and the eagles feathers. Traces of mint luster are found within the coins devices. Just a trace of wear is seen on the highest portion of Libertys cap, the highest curls of her hair, and on the eagles left wing top. Aside from a few small copper spots on the obverse, the surfaces are clean and original.

The 1826 quarter eagle has been called an overdate; however, many researchers today consider it to be a repunched 6. Note that the PCGS holder labels the coin as 1826/5, signifying their recognition that it is not necessarily an overdate.

There are two types of Capped Bust quarter eagle coins. The first is called the Capped Draped Bust and the second is the Capped Head. John Reich is credited for designing both types of the Capped Bust quarter eagle coins. The first was minted in 1808 and is a one-year design type. Only 2,710 coins were minted, and it is extremely rare in all conditions. The Capped Head type was modified by Robert Scot it was issued from 1821 to 1827. It shows a head of Liberty facing left in profile. She is surrounded with thirteen six-pointed stars, and the date is below. Dentils are at the periphery of both sides of the coin. The reverse shows a heraldic eagle with its head turned to the left. Above its head is a banner with the motto E PLURIBUS UNUM. The inscription UNITED STATES OF AMERICA is in an arc around the eagle interrupted by the wing tips. The denomination, written as 2 D. is below.

Reichs Capped Bust quarter eagle design corrected the error in heraldry made by Robert Scot with the previous issue. Scot had placed the arrows in the eagles right talon, symbolically a very aggressive and warlike position. In the Capped Bust quarter eagle, Reich moved the arrows to the left talon, as they are on The Great Seal of the United States, which is the correct position. It is interesting to note that the Capped Head type was designed by Robert Scot himself. One could speculate as to why he did not correct the error earlier. After Scot died, William Kneass became his successor. He modified the design by making the stars smaller redrawing the main devices. The coins from 1829 to 1834 were struck in a close collar, giving the coins a reeded edge and making the coins more uniform.

Thomas Jefferson chose Robert Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. Scot was born in 1744 in Edinburgh, Scotland or England. (Documentary evidence is lacking as to where he was born.) He was trained as a watchmaker in England and learned engraving afterwards. He moved to the United States in 1777, where he worked as an engraver of plates, bills of exchange, and office scales. During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was $1,200 per year.

The Mint Director received only $800 dollars per year more. Scots ability to make dies was limited, and he was advanced in years with failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. He was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on the early silver coins, and the gold quarter eagle, half eagle and eagle. Scot also designed the 1794-1797 half cent, the 1800-1808 draped bust half cent, and the Thomas Jefferson Indian Peace Medal. Scot died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

John Reich, a skilled engraver, was born in Bavaria and came to the United States around 1800. In order to finance his passage, he sold himself into servitude. President Thomas Jefferson recommended that Reich be hired as an engraver at the Mint in 1801. When he was serving in Washingtons Cabinet, Jefferson was in charge of the Mint as Secretary of State. While in France, Jefferson developed a working knowledge of the minting process. Reich was hired for other duties, but he eventually became an engraver at the Mint. He had a superb eye for the complicated aesthetics of coin engraving. At this time his freedom was purchased by an unknown mint official. Although Chief Engraver Robert Scot designed most of the coins at the mint since 1794, it was said that Reich had much more talent and ability than Scot.

In 1807, Reich was promoted to the position of Assistant or Second Engraver by Robert Patterson, the new Mint Director. Jefferson had urged Patterson to make this promotion because Scots eyesight was failing him. The promotion was timely because Reich was considering returning to Europe out of boredom with the menial tasks he had been assigned. Immediately Patterson assigned Reich the task of redesigning the nations coinage. He began with the half eagle and the half dollar, the two most important coins for commerce.

Reich made a similar design for the quarter eagle that was issued the next year. He also designed a new cent, a dime and a half cent in 1809, and a quarter in 1815 all of which used the capped bust motif.

Reich put the denomination of the gold and silver coins. This innovation had not been done previously because coins, especially in Europe, were valued for their metallic content and weight. By 1815 Reich had created a set of circulating coins with the common capped liberty obverse. In 1813 Reich modified the half eagle to become what is called the Capped Head design. Some contemporary critic called the bust of Liberty Reichs fat German mistress.

After working for ten years as Assistant Engraver at the mint, Reich resigned in 1817. He had received no pay raise or promotion and little praise from Robert Scot. Scot remained the Chief Engraver until his death in 1823.

The 1826/5 had an original mintage of 760. It is fundamentally rare in all conditions. It is estimated that 30 to 35 pieces remain today. In its population report, PCGS shows 4 in AU55 condition with 6 better. NGC has 0 in AU55 with 3 better.