Bill Jones' Coronet Quarter Eagles
1857-O

Owner Comments:

Despite the fact the quarter eagle was among the first three gold coin denominations that were authorized by the Coinage Act of 1792, it was never a popular coin. In the early days those who deposited gold bullion for coinage at the first U.S. mint seldom asked for $2.50 pieces. They found the $5.00 and $10.00 gold coins more convenient. In later years quarter mintages continued to be lower than those for the five, ten and twenty dollar gold coins. The most popular use for the quarter was as a generous Christmas gift, and indeed demand for the coin did spike around the holidays from non-business sources.

In addition, the Charlotte, Dahlonega and New Orleans mints had problems striking quarter eagles. The dies broke at a far faster rate, and the effort to convert the same quantity of bullion gold into coins was much greater because each piece was smaller. Therefore it is not surprising that the 1857-O quarter eagle was the last year for the $2.50 gold coin at the New Orleans mint. When the opportunity to drop the denomination came, the New Orleans officials grabbed it.