The 1796 Capped Bust Right Quarter Eagle, No Stars, is one of the most historically significant coins in early U.S. numismatics. As the very first gold quarter eagle produced by the United States Mint, this coin embodies the infancy of American coinage. Its unique design, limited mintage, and historical relevance make it one of the most coveted coins among collectors.
Historical Context
In 1796, the United States Mint struck its first $2.50 gold coins, known as quarter eagles. Gold coinage was still a relatively new concept for the young republic, and the quarter eagle denomination was intended to provide a convenient medium for higher-value transactions.
The 1796 Capped Bust Right Quarter Eagle, No Stars, represents the first issue of this new denomination. Interestingly, it is the only U.S. gold coin without stars on the obverse. This design choice was short-lived and was altered later in the year to include 13 stars, representing the original colonies.
With a mintage of just 963 pieces, the 1796 No Stars Quarter Eagle is an extremely rare coin, and surviving examples are highly sought after by numismatists worldwide.
Design Features
The 1796 Capped Bust Right Quarter Eagle was designed by Chief Engraver Robert Scot.
- Obverse: The obverse features a bust of Lady Liberty facing right, wearing a cap. The cap is draped with a ribbon, giving it a distinctive and elegant appearance. Unlike most U.S. coins of the period, this design does not include stars surrounding Liberty. Instead, the obverse is clean and uncluttered, with the date “1796” displayed prominently below the bust.
- Reverse: The reverse showcases a heraldic eagle, modeled after the Great Seal of the United States. The eagle holds a bundle of arrows in one talon and an olive branch in the other, symbolizing a balance between strength and peace. A shield covers the eagle’s chest, and the inscription “UNITED STATES OF AMERICA” encircles the design.
Rarity and Survival
The rarity of the 1796 Capped Bust Right Quarter Eagle, No Stars, cannot be overstated. Of the 963 coins minted, only a fraction have survived, and many of these are in circulated condition. High-grade examples are incredibly scarce and command significant premiums in the marketplace.
The coin’s rarity is further amplified by its status as the first gold quarter eagle and the only one with the no-stars design. These attributes make it a centerpiece in any collection of early American coinage.
Value and Market Trends
Due to its rarity and historical importance, the 1796 No Stars Quarter Eagle is one of the most valuable U.S. coins. Examples graded in Fine (F) to Very Fine (VF) condition typically sell for $200,000 to $300,000. Higher-grade pieces in Extremely Fine (XF) or About Uncirculated (AU) condition can reach values exceeding $1,000,000.
In 2008, an MS62 graded example sold for over $1.38 million at auction, highlighting the coin’s extraordinary desirability among advanced collectors.
Why Collect the 1796 No Stars Quarter Eagle?
The 1796 No Stars Quarter Eagle is a must-have for collectors of early American coinage. Its rarity, unique design, and historical significance make it a standout piece in any collection. As the first gold quarter eagle ever struck, it represents the Mint’s initial foray into producing gold coinage, a milestone in U.S. history.
Moreover, the coin’s minimalist design—free of stars—sets it apart from other coins of the era. Its clean aesthetic and symbolism resonate with both seasoned numismatists and those who appreciate the artistry of early U.S. coins.
Conclusion
The 1796 Capped Bust Right Quarter Eagle, No Stars, is a masterpiece of early American coinage. Its rarity, distinctive design, and connection to the nation’s formative years make it one of the most sought-after coins in the hobby. For collectors who seek the finest and most historically significant pieces, this coin is an unparalleled treasure.
FAQs
Why does the 1796 Capped Bust Right Quarter Eagle have no stars?
The lack of stars was a design choice by the Mint in its early stages. Stars were added to later issues in 1796.
How many 1796 No Stars Quarter Eagles were minted?
Only 963 coins were minted, making it one of the rarest U.S. gold coins.
What is the value of a 1796 No Stars Quarter Eagle today?
Depending on condition, values range from $200,000 to over $1,000,000.