2153

1796 $2 1/2 No Stars AU58 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1796 $2 1/2 No Stars AU58 PCGS.
1796 $2 1/2 No Stars AU58 PCGS. Breen-6113, Bass-3002, R.5. The Mint Act of April 2, 1792 authorized the production of Quarter Eagles at the weight of 64.5 grains. While Half Eagle and Eagle production commenced in 1795, the Quarter Eagle, a less favored denomination, had to wait until 1796. The obverse design was similar to that of the 1795 Half Eagle and Eagle, but the stars were omitted from the periphery. The reverse holds two "firsts" in U.S. numismatics. This issue is the first gold coin to display the Heraldic Eagle reverse, and it is also the first coin of any denomination to exhibit 16 stars on the reverse in commemoration of Tennessee's admission to the Union. Only 963 pieces were produced, 66 coins on September 22 and 897 coins on December 8, 1796. Unlike early Eagles and Half Eagles (which were intended for international commerce), the first Quarter Eagles produced by the U.S. Mint were largely used in domestic channels. From 1796 through 1808, the Mint delivered only 22,199 coins of this denomination. The demand for these pieces must have been great, since the third federal census in 1810 placed the United States' population at 7.2 million people. What's more, many of the coins that managed to survive the rigors of circulation in late 18th and early 19th century America probably fell victim to the mass meltings of the 1820s and 1830s. An attractive example, the surfaces display even green-gold color that yields to light haziness in the left obverse field. The latter feature is due to microscopic roughness in the planchet (as struck), rather than toning or post-production impairments. Most extant 1796 No Stars Quarter Eagles display uneven striking quality, but this coin, although somewhat softly detailed over the right peripheries, is crisply defined over the major features. There are no singularly mentionable distractions and the fields reveal modest reflectivity at certain angles. A lovely survivor of this legendary one-year gold issue. Important notice: Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.