Arrow Head
2011
Indian Head Gold Quarter Eagle
The gold quarter eagle, value $2.50 face value, was authorized by the Mint Act of April 2, 1792, though the first coins of this denomination did not seem till 1796. In a little bit of an odd twist, nowhere on the coin is the face worth denoted.
The first gold quarter eagle was the Capped Bust to Proper kind of 1796-1807. The obverse shows Liberty carrying a head turban modern with women of the late 18th century. For a very long time, the turban was incorrectly thought by many to be a liberty cap derived from ancient Rome, as was the case with different United States coinage. Analysis later uncovered the 1825 writings of Mint Director Samuel Moore, who verified the true nature of Liberty’s head attire. For that reason, numismatists additionally call this the Turban Head type. An example is seen instantly below.
Less than 20,000 Turban Head Quarter Eagles have been minted. Tensions between the U.S. and Europe throughout the 1790s and early 1800s drove European gold prices higher. Bullion dealers exploited this example by obtaining American gold coinage in change for relatively low-cost Mexican silver and exporting it to abroad melting pots at a considerable profit. The chance of immediate doom tremendously curtailed production of all U.S. gold cash through the earliest years underneath the Constitution.
The Mint employed John Reich as Assistant Engraver in 1807. Reich was a highly reputed German die sinker who arrived within the United States as an indentured servant in 1801. After six years of failing to safe everlasting employment at the Mint due to inside politics (apparently, nobody wished to offend the sensibilities of Chief Engraver Robert Scot), Reich began making plans to return to Germany. By way of the intervention of President Thomas Jefferson, the assistant’s position was created for Reich to retain his talent.
Reich instantly got down to upgrade the appearance of United States coinage, together with a new gold quarter eagle, launched in 1808. Reich depicted Miss Liberty dealing with left, carrying a mobcap adorned with the phrase LIBERTY. The Capped Bust to Left, sometimes generally known as the Capped Draped sort, featured a somewhat practical eagle extending its wings sitting atop an olive branch, while holding arrows suggesting power, if essential, to defend itself. Reich’s eagle reverse would remain a fixture on U.S. coinage for the subsequent one hundred years.
The Capped Bust to Left Quarter Eagle was in production for the yr 1808 only. A single set of 1808 dies were made, and numismatists theorize it broke after solely 2710 items have been made. Thereafter, quarter eagle gold coinage was suspended due to the continued menace posed by international bullion dealers.
Quarter eagle manufacturing resumed in 1821. Although gold coinage still had trouble remaining in circulation due to its high intrinsic steel worth, a number of banks deposited gold bullion from Mexico and requested quarter eagles in return below the Mint’s “Free Coinage” policy. Reich resigned from the Mint in 1817 in disgust over his stagnated wage of $50/month, so the obligation of resurrecting the quarter eagle fell to Robert Scot.
Scot’s Capped Head to Left kind was nothing greater than a barely modified model of Reich’s 1808 design. At age 77 and with failing eyesight, Scot was in all probability lower than the duty of originating a brand new design from scratch. Essentially the most noticeable difference was a 1.5 mm (.059 inches) lower in diameter. The burden remained consistent, so the 1821 quarter eagle edition was thicker than its predecessors. In 1829, the diameter was reduced by one other .three mm. The Capped Head to Left was minted in small numbers almost yearly till 1834, however never gained a foothold in American society because its gold content material was price more than its face value, making it topic to exportation and melting.
At Valueincoins.com you’ll find products, information, and resources on quarter eagle, indian head quarter eagle, and gold quarter eagle coin.
ARROW IN THE HEAD
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