Capped Bust $2.5 (1808 – 1834)

#1 Capped Bust $2.5 Buyer Las Vegas & Henderson

History

The Capped Bust $2.50 gold coin was the first $2.50 gold coin struck in the United States under the Coinage Act of 1792. It is referred to as a “Quarter Eagle” as a shorthand term for the coin indicating it is one quarter the denomination of an “Eagle” or ten dollar coin. It was minted in 22 karat fine gold or a composition of .9167 gold with the remainder being silver and copper in order to provide the coin durability. The coin weighs 4.37 grams and is approximately 20 mm in diameter. This $2.50 gold coin was exceedingly rare and was only minted in Philadelphia from 1796 until 1807. Few of these coins were minted and even fewer entered circulation with most being held by banks so that they were of little value in commerce.

The obverse or front of the Capped Bust $2.50 gold coin displays a bust of Liberty wearing a large cap, also referred to as a turban. Initially, in 1796, the first year of mintage, there were no stars on the obverse of the coin. This was changed later in that same year with thirteen stars representing the original thirteen colonies surrounding the head of Liberty. The design change remained through the end of the series in 1807. On the back of the coin or reverse, there is a heraldic eagle with a shield on its chest. The eagle has a ribbon below its beak with the motto, “E Pluribus Unum”. It is holding arrows in one talon and a branch in the other and is consistent with the design used for the five and ten dollar gold coins of the same period. Sixteen stars appear above the eagle in 1796. Through the remainder of the series the number of stars above the eagle vacillated between thirteen and sixteen stars. No denomination appears on the coin.

Value

All coins in this quarter eagle gold series are quite valuable with common examples in fine condition being worth five to six thousand dollars. In mint state all coins become extremely rare and valuable ranging from between about $75,000 up to $150,000. This is true both due to their extremely low mintage as well as their low survivability to the present day. The 1796 with stars variety as well as the 1797 are valued at about $500,000 in high mint state. The 1796 with no stars on the obverse variety are an ultra rarity and may be worth as much as $2,000,000 in high mint state. This unique variety is highly coveted and considered one of the top 100 coins among collectors.

Because there are so many varied opinions on the condition (or grade) of a coin, the aforementioned values reflect the highest retail prices that have been obtained for those coins that have been assessed by a third party grading company. Such coins have been authenticated, graded and encapsulated by expert coin grading companies to minimize any doubt as to their authenticity, quality and value and therefore their potential worth.

We Buy Capped Bust $2.50 Gold Coins

We want to buy your coins and as a business it is our pledge to offer you the best value for your coins, however, always remember that the prices you may find online or in price guides usually represent the highest retail value for the coin in an already certified condition. As a trusted dealer we will have our coin specialists evaluate your coins at no cost and offer you a price that is both fair for you, but that also allows us to realize a reasonable profit.