A survey of 19th century business strike coin
$2.5 CAPPED HEAD, LARGE SIZE (1821-1827)

Owner Comments:

In 1821 the customers of the first U.S. mint in Philadelphia placed their first order for quarter eagles since the last pieces had been issued in 1808. Seventy-eight year old chief mint engraver, Robert Scott, who was well past his prime, produced the first set of dies for the new coins. His design was patterned after the half eagle that John Reich had introduced in 1813. Like Reich’s design, Scott’s Ms. Liberty was a heavy set older woman who fell well short of the word “comely.” The reverse featured the same eagle that Reich had patterned in 1807.

Although this type of quarter eagle would be minted for five years intermittently from 1821 to 1827, the annual mintage never exceeded 6,448 pieces. The mint struck only 17,042 Large Diameter Capped Bust quarter eagles over that period, and the vast majority of those coins were melted after the gold content of the denomination was reduced in 1834. As result this is a rare type coin that seldom seen even at the largest coins shows. Q David Bowers has estimated that fewer than 500 of these coins exist in grades today.

This 1825 quarter is the BD-2 variety, and it is the most common of the three die combinations that were used for that year’s coinage. It has been estimated that 80 to 100 of these coins exist, which would place it as a high R-4 on the Sheldon rarity scale.