On June 28, 1834, Congress reduced the size and weight of gold coinage to take
the profit out of exportation and meltdowns. The Classic Head Quarter Eagle type
was released later in the year. This long overdue reform reduced the amount of
gold in each coin by about 6.3%, and helped retain gold coinage in circulation.
The Classic Head Quarter Eagle was minted in much larger quantities than its
predecessors. From 1834-1836, production was ten times greater than the
cumulative mintage of the quarter eagle types of 1796-1834.
Mint Engraver William Kneass depicted Miss Liberty with a somewhat masculine
face, looking left, with a full head of curly, flowing hair. She wears a
headband inscribed with the word LIBERTY. The reverse borrowed heavily from
former Engraver John Reich’s eagle design, first seen in 1807. The main
difference was the omission of the motto E PLURIBUS UNUM (Latin for “Out of
Many, One”). Because the new Classic Head design resembled older quarter eagles,
the absence of the motto gave the public a sure way to confirm the
lighter-weight issue.
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Classic Head
Quarter Eagle
Specifications |
Diameter: |
Weight: |
Minted: |
Composition: |
Designer |
Edge: |
17.50 mm |
4.18 g |
1834-1839 |
.8992
Au .1008 Cu |
William Kneass |
Reeded |
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Coin Photos courtesy of
Ira & Larry Goldberg Coins & Collectibles, Inc., Beverly Hills, CA. |
Improved mining techniques in the 1820’s brought abundant quantities of North
Carolina gold to the surface. In 1828, gold was discovered in northeast Georgia,
touching off another boon for the mining industry. The Classic Head weight
reduction of 1834 gave gold coinage a better chance of remaining in circulation,
providing further incentive to mining interests. The next logical step was to
convert raw southern gold into spending money. The biggest obstacle was the
distance to the
Philadelphia Mint, the only government coining facility in the
United States.
On March 3, 1835, Congress acted to remedy this problem by authorizing the
creation of branch mints at
Charlotte, NC and
Dahlonega, GA, both within easy
proximity of the gold fields. In addition, a mint was established at the old
city of
New
Orleans, LA, a crucial economic hub at the mouth of the Mississippi River.
1839
was the final year for the Classic Head Quarter Eagle. The Coronet type,
also called the Liberty Head, was adopted in 1840 to coincide with the
design of larger gold coins already in circulation.
Within the Classic Head Quarter Eagle series, the Charlotte and Dahlonega Mint
issues garner the greatest respect from collectors, by far. All are quite rare, especially sharply struck examples. Thus, the Classic Head
key dates are:
It is advisable to buy key date Classic Head Quarter Eagles that have been certified by one of the four leading grading
service companies: PCGS, NGC, ICG, or ANACS. If not, then
the seller must be someone of unquestioned reputation. Rip off artists
understand how collectors salivate at the mere mention of Charlotte and
Dahlonega coinage, and utilize this emotional attachment to unload overgraded,
or heaven forbid, fake coins to trusting buyers.
The links below take you to eBay US coin auctions featuring key date
Classic Head Quarter Eagles.
The left hand side of each "Sales Box" depicts value trends over a very long
period of time for the specified key date in F-12 condition. The
percent annual increase since 1950 is computed for comparative purposes. The
right side of the box is a link to eBay US coin auctions that isolates "for
sale" offerings of the
coin. Key date Classic Head Quarter Eagles are truly rare, so bear in
mind it is possible that even on eBay, there is no certainty an example is on
the auction block at any given point in time. The coin pictured
for sale in the right hand side, if any, is not necessarily the same condition coin
as that represented in the value trend analysis on left hand side.
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1838-C
Classic Head QE
Condition: F-12
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1839-C
Classic Head QE
Condition: F-12
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Value Trends
1950: $15.00
1980: $375
1995: $600
2003: $800
2007: $1500
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Value Trends
1950: $15.00
1980: $350
1995: $425
2003: $800
2007: $1250
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% Annual Increase
Since 1950 =
8.41%
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% Annual Increase
Since 1950 =
8.07%
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1839-D
Classic Head QE
Condition: F-12
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Value Trends
1950:
$15.00
1980: $350
1995: $475
2003: $800
2007: $1400
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% Annual Increase
Since 1950 =
8.28%
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In 1834, Cyrus McCormick patented a machine to
harvest grain. The McCormick reaper required only 2 people for
operation but could do the work of at least a dozen laborers. Use of
the reaper spread quickly, as farmers could order the disassembled machine
through the mail. McCormick's invention helped raise grain production
dramatically throughout the US. The above painting depicts the
22-year-old McCormick demonstrating his machine to the public for the first
time.