1733

1804 $2.50 Capped Bust 14-Star Rev AU50 RAW

Currency:USD Category:Coins & Paper Money / US Coins Start Price:6,500.00 USD Estimated At:13,000.00 - 16,000.00 USD
1804 $2.50 Capped Bust 14-Star Rev AU50 RAW
During this era quarter eagles played a very minor function in commerce, with the more utilitarian $5 being used in most transactions. Quantities of American gold coins were exported, resulting in a presidential order that the $10 denomination be discontinued. Half eagles remained in production for years thereafter, and often in large quantities, but continued to be sent abroad.

The quarter eagles that were minted from 1796 through the end of the early series of 1808, seem to have been used in domestic commerce at face value, trading often on a par with notes of well established banks (such as the Suffolk bank in Boston). Most pieces acquired often considerable wear, and today extant examples of all varieties of the 1804 rarity are apt to be seen in grades ranging below Very Fine. This handsomely preserved About Uncirculated 50 is lightly cleaned, has a faint hairline scratch by the first star, yet is well above the median. Specialists will want to consider it accordingly. (#7652)