The first quarter eagles (face value of $2.50)
were minted in 1796. Precise records were not kept of the earliest
deliveries, but researchers have pieced together evidence to suggest
that in 1796, a total of 963 quarter eagles with no obverse stars were
produced, followed by another 432 having obverse stars.
There was little demand for quarter eagles in the 1790’s: the
denomination was too big for ordinary commerce, but too small for bank
transactions. This explains the miniscule output of Capped Bust Quarter
Eagles.
The 1796 Capped Bust Quarter Eagle No Stars is
one of the biggest
attention getters in all of United States numismatics.
It seems as if some collectors will pay any price to acquire a genuine
example of this
elusive key date. A long history of spectacular price increases is
proof of its popularity.
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