Indian Chief

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$219.00
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Indian Chief

Indian Head Quarter Eagle

The gold quarter eagle, worth $2.50 face worth, was approved by the Mint Act of April 2, 1792, though the first coins of this denomination did not seem till 1796. In a bit of an odd twist, nowhere on the coin is the face worth denoted.

The first gold quarter eagle was the Capped Bust to Right kind of 1796-1807. The obverse shows Liberty sporting a head turban fashionable with girls of the late 18th century. For a long time, the turban was incorrectly thought by many to be a liberty cap derived from historic Rome, as was the case with other 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 name this the Turban Head type. An example is seen straight below.

Less than 20,000 Turban Head Quarter Eagles have been minted. Tensions between the U.S. and Europe all through the 1790s and early 1800s drove European gold costs higher. Bullion sellers exploited this situation by acquiring American gold coinage in change for relatively low cost Mexican silver and exporting it to abroad melting pots at a substantial profit. The risk of quick doom enormously curtailed manufacturing of all U.S. gold cash in the course of the earliest years below 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 secure everlasting employment on the Mint because of inner politics (apparently, nobody needed 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 immediately set out to upgrade the appearance of United States coinage, including a brand new gold quarter eagle, released in 1808. Reich depicted Miss Liberty going through left, wearing a mobcap decorated with the phrase LIBERTY. The Capped Bust to Left, generally referred to as the Capped Draped type, featured a considerably lifelike eagle extending its wings sitting atop an olive branch, while holding arrows suggesting force, if mandatory, to defend itself. Reich's eagle reverse would remain a fixture on U.S. coinage for the following 100 years.

The Capped Bust to Left Quarter Eagle was in production for the yr 1808 only. A single set of 1808 dies had been made, and numismatists theorize it broke after only 2710 pieces had been made. Thereafter, quarter eagle gold coinage was suspended due to the continued menace posed by worldwide bullion dealers.

Quarter eagle production resumed in 1821. Although gold coinage nonetheless had hassle remaining in circulation because of its excessive intrinsic metal worth, a number of banks deposited gold bullion from Mexico and requested quarter eagles in return beneath the Mint's "Free Coinage" policy. Reich resigned from the Mint in 1817 in disgust over his stagnated salary of $50/month, so the responsibility of resurrecting the quarter eagle fell to Robert Scot.

Scot's Capped Head to Left type was nothing more than a slightly modified model of Reich's 1808 design. At age 77 and with failing eyesight, Scot was most likely less than the duty of originating a new design from scratch. Probably the most noticeable distinction was a 1.5 mm (.059 inches) decrease in diameter. The weight remained consistent, so the 1821 quarter eagle version was thicker than its predecessors. In 1829, the diameter was reduced by one other .3 mm. The Capped Head to Left was minted in small numbers nearly every year till 1834, however never gained a foothold in American society because its gold content was worth more than its face worth, making it topic to exportation and melting.

At Valueincoins.com find information on 1929 quarter eagle, indian head gold quarter eagle, and $2.50 gold coins.

Indian Chief
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