$2.50 Capped Bust Gold Coins

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$2.50 Capped Bust facing Right (1796 - 1807) Type I

Minted from 1796 to 1807, these classic U.S. gold quarter-eagles are one of the very best gold portfolio builders on the market, and make a beautiful addition to any coin collection.

The $2.50 coins were authorized by the Act of April 2, 1792, by which the weight of 67.5 gains and .9167 fineness were set. Four years later the coins were in production and designed by Robert Scot. These coins represent the very first $2.50 gold coins ever minted by the United States Government.

In November of 1995 a 1796 choice brillant uncirculated example sold for $605,000

Because of early technologies, in the making of dies, was primative. Dies were reused, producing coins with dates over dates.

Between 1796 & 1807 coins were produced sporadicly and in very low quanities. All of these coins in any condition are rare.

1796 P No Stars - 963 Coins Minted
1796 P Stars - 432 Coins Minted
1797 P - 427 Coins Minted
1798 P - 1,094 Coins Minted

1799 No Production
1800 No Production
1801 No Production

1802 P 2 over 1 - 3,035 Coins Minted

1803 No Production

1804 P 13 Stars
1804 P 14 Stars - 3,327 Coins Minted
1805 P - 1,781 Coins Minted

1806 P 6 over 4, 8 Stars Left, 5 Stars Right - 1,136 Coins Minted
1806 P 6 over 5, 7 Stars Left, 6 Stars Right - 480 Coins Minted

1807 P - 6,812 Coins Minted

Edward Jenner administers the first smallpox vaccination on saturday May 14, 1796

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Tennessee becomes the 16th state of the United States on June 1, 1796.

George Washington makes his farewell address on Monday September 19, 1796.

$2.50 Capped Bust Facing Left Large Size Type II

The type II design of the Capped Bust was only minted for 1 year 1808. After the production of this coin no Capped Bust coins were minted until 1821.

As the new Mint facility in Philadelphia began to take shape, a talented engraver was still to be found. Coiners Henry Voight and Adam Eckfeldt assisted in the preparation of the first dies, but it was not until August 1793 that the artist Joseph Wright was appointed as engraver. Unfortunately, Wright died a few weeks later from yellow fever, in the annual epidemic that struck Philadelphia in the summer months. He was succeeded by Robert Scot, an English watchmaker and banknote engraver of some repute. Scot's talents as a die-engraver, however, were marginal at best. Many of his early coinage designs received widespread criticism, putting him on the defensive from the very beginning. Apparently fearing competition, he thwarted every effort by Mint Director Henry DeSaussere to engage an assistant engraver. When John Smith Gardner was finally appointed to that position at the end of 1794, he lasted only 16 months, probably due to Scot's jealousy and harassing tactics. For years, Scot's authority and position would go unchallenged, and his designs continued to reflect his limited skills. Probably his best work is his 1795 design for the first half eagle, with its Draped Bust portrait of Liberty and its small eagle on the reverse. The small eagle gave way to the heraldic eagle in 1798, but by the turn of the century, Scot's failing eyesight increasingly limited his usefulness as an engraver.

During this era, thousands of immigrants began to arrive on the shores of the United States, including many refugees of the Napoleonic Wars. One of these emigrants was John Reich, a German engraver who sold himself into indentured servitude in return for passage to America. By 1801, his skills were renowned in Philadelphia, even to President Thomas Jefferson, who recommended to Mint Director Elias Boudinot that Reich be employed. Boudinot complied, but apparently in deference to the excessively territorial Scot, Reich was not allowed to design coins but was assigned other miscellaneous tasks.

The 1808 Type II Capped Bust was designed by John Reich. Only 2,710 of these coins were produced. Since this coin represents a design change and was only produced once this represents quintessential rarity.

Importation of slaves into the United States is banned on January 1, 1808.

Anthracite coal first burned as fuel, experimentally in Febuary 1808.

$2.50 Capped Head Large Diameter Facing Left (1821-1827) Type I

Since it had been 13 years since the last Capped Bust was produced, slight modifacation were made to her image. Still facing left a slimmer version appeared. Once again the mintage of this coin was irregular. Although the design lasted for 6 years, only 5 of those years saw coin actually produced. The only mint in opperation at this time was Philadelphia.

1821 - 6,448 coins minted

1822 - No Coins
1823 - No Coins

1824 4 over 1 - 2,600 coins minted

1825 - 4,434 coins minted

1826 6 over 5 - 760 coins minted

1827 - 2,800 coins minted

Due to the history and rarity of these coins, anyone who is serious about wealth building, should have this example. Only serious inquiries.

James Monroe is inaugurated for a second term as President of the United States in 1821.

The United States takes possession of its newly-bought territory of Florida from Spain.

Missouri is admitted as the 24th U.S. state.

American Old West: Missouri trader William Becknell arrives in Santa Fe, New Mexico over a route that became known as the Santa Fe Trail.

$2.50 Capped Head Reduced Diameter Facing Left (1829-1834) Type II

In 1829 the Capped Head design had a makeover. A new slimmer version our gold money appeared. The coins that were produced from 1829 - 1834 were smaller in diameter (18.2mm). They also had smaller letters, dates, & stars. The U.S. dollar in those days went a long way. A $2.50 gold Capped Head coin could keep a family of 4 warm all winter. Because of this only 25,023 coins of this variety were ever produced. Only the Philadelphia mint was producing coins for the entire country

1829 - 3,403
1830 - 4,540
1831 - 4,520
1832 - 4,400
1833 - 4,160

1834 With Moto - 4,000

In the United States, William Austin Burt patents the first typewriter in 1829.

Great fire in New Orleans thought to be set by rebel slaves in 1830.

Mary had a little lamb by Sarah Hale is published in 1830.

The Indian Removal Act is passed by the U.S. Congress; it is signed into law by President Andrew Jackson two days later.

The City Bank of New York becomes the site of the first bank robbery in United States history ($245,000 taken) in 1831.

Charles Darwin embarks on his historic journey aboard the HMS Beagle, where he will formulate the theory of evolution.

U.S. President Andrew Jackson becomes the first President to ride a train in 1833.

$2.50 Classic Head, No Motto (1834 - 1839)

Designer William Kneass, in 1834, redesigned our $2.50 gold coin. A ribbon binding the hair, bearing the word Liberty, replaced the liberty cap. The motto "In God We Trust" was omitted from the reverse of the coin.

By the Act of June 28, 1834 the weight was reduced to 64.5 grains. The Act of January 18, 1837 established the fineness at .900.

This series saw the U.S Government currency distribution needs increase as new "Branch Mints" came on line and started producing coins with "Mint Marks." Starting in 1838 - 1839 the Philadelphia, Charlotte, Dahlonega, and New Orleans were all producing gold currency for the United States Government. A total of 968,228 coins were produced.

The American Congress debated (and in early 1835 passed) a bill to totally pay off the national debt. Shall we 'ere see the like again?

Davy Crocket, American frontiersman and former Congressman, headed for Texas where a group of disgruntled U.S. citizens had declared independence from Mexico. General Santa Ana spent this year consolidating his grip on Mexico before heading to Texas to put down the revolt. He would score a major victory the next year by defeating Crocket and a band of dedicated defenders at the Alamo.