The 1796 Turban Head Gold $2.50 Quarter Eagle is a fascinating piece of U.S. history. It stands out as the first gold quarter eagle minted by the United States and is known for its unique design, especially the absence of stars on the obverse. Collectors and historians alike treasure this coin for its rarity and historical significance.
History and Background of the 1796 Turban Head Gold $2.50 Quarter Eagle
The 1796 Quarter Eagle was part of the early U.S. Mint’s efforts to create a unified monetary system. This coin had a face value of $2.50 and was one of the first gold coins produced by the United States under the Coinage Act of 1792. Its nickname, “Turban Head,” comes from the artistic representation of Liberty on the obverse, which resembles a turban.
Design and Features
Obverse Design
The obverse of the 1796 Quarter Eagle features Lady Liberty with flowing hair wrapped in a cap resembling a turban. This design was created by Robert Scot, the U.S. Mint’s chief engraver at the time. The absence of stars on the obverse sets this coin apart, as later versions included stars to represent the states.
Reverse Design
The reverse showcases a heraldic eagle, inspired by the Great Seal of the United States. The eagle holds a bundle of arrows and an olive branch, symbolizing readiness for war and a desire for peace.
Specifications
- Composition: 91.67% gold, 8.33% copper
- Weight: 4.37 grams
- Diameter: 20 mm
- Mint Location: Philadelphia
- Designer: Robert Scot
Rarity and Value
The 1796 Turban Head Gold Quarter Eagle is highly sought after due to its limited mintage. Only 963 coins were produced, making it one of the rarest coins in U.S. history. The rarity is further amplified because many coins were melted down for their gold content over the years. Today, collectors consider it a prized possession, with well-preserved examples fetching hundreds of thousands of dollars at auctions.
Significance of the “No Stars” Design
The decision to omit stars on the obverse was likely practical, as the states were rapidly expanding. By 1796, there were already 16 states, and adding stars for each new state could crowd the coin’s design. Later versions of the Quarter Eagle featured stars, making the “No Stars” design a unique and historical anomaly.
Market Value and Auction Prices
The value of a 1796 Turban Head Gold $2.50 Quarter Eagle depends on its condition and rarity. Coins in pristine condition have fetched prices exceeding $500,000 at auctions. Even coins in lower grades hold significant value due to their historical importance.
| Condition | Estimated Value |
|---|---|
| Poor (P-1) | $50,000 – $75,000 |
| Fine (F-12) | $100,000 – $200,000 |
| Extremely Fine (EF-40) | $250,000 – $400,000 |
| Mint State (MS-60+) | $500,000+ |
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FAQs
Why are there no stars on the obverse of the 1796 Quarter Eagle?
The omission of stars was likely a practical design choice to avoid overcrowding the coin. It also made this coin unique in U.S. coinage history.
How rare is the 1796 Turban Head Gold $2.50 Quarter Eagle?
With only 963 coins minted, it is one of the rarest coins in U.S. history. Many have been lost or melted down, making surviving examples highly valuable.
What is the coin made of?
The coin is made of 91.67% gold and 8.33% copper.
Who designed the 1796 Quarter Eagle?
The coin was designed by Robert Scot, the first Chief Engraver of the U.S. Mint.
What is the significance of the heraldic eagle on the reverse?
The heraldic eagle symbolizes strength and unity, with arrows for defense and an olive branch for peace.
Why is the 1796 Turban Head Gold Quarter Eagle valuable?
The 1796 Turban Head Gold Quarter Eagle is valuable due to its rarity, historical significance, and unique design. With only 963 coins minted, its limited production and distinct features make it highly sought after by collectors.