The 1864 Coronet Head Gold $2.50 Quarter Eagle is a highly desirable coin among collectors due to its historical significance, rarity, and appealing design. Part of the broader Coronet Head series, this coin carries with it the story of a nation at war, as it was minted during one of the most turbulent periods in U.S. history—the American Civil War. In this guide, we’ll explore the history, design, rarity, and investment potential of this valuable piece.
History of the 1864 Coronet Head Quarter Eagle
1. A Civil War Era Coin
The Coronet Head Quarter Eagle series began in 1840 and was produced intermittently until 1907. The 1864 edition was minted in the midst of the Civil War, a time when the nation’s resources were heavily strained. As a result, the minting of gold coins, including the $2.50 Quarter Eagle, was limited due to economic and logistical challenges.
2. Low Mintage Numbers
The 1864 Quarter Eagle had an extremely limited mintage of only 2,824 coins, making it one of the lowest-mintage coins in the entire series. The scarcity of this issue reflects the economic climate of the time, as much of the country’s gold was hoarded or melted down due to uncertainty during the war. Today, only a small number of these coins are believed to have survived, making it a highly sought-after prize among numismatists.
Design and Characteristics
1. Obverse Design
The obverse of the 1864 Coronet Head Quarter Eagle features the profile of Lady Liberty, wearing a coronet inscribed with the word “LIBERTY.” This elegant design by Christian Gobrecht showcases Liberty facing left, with her hair tied back and surrounded by 13 stars representing the original states. The date “1864” appears below Liberty’s portrait.
2. Reverse Design
The reverse side displays a powerful depiction of the American eagle, clutching arrows and an olive branch in its talons. Above the eagle is the inscription “UNITED STATES OF AMERICA,” while the denomination “2 1/2 D.” is positioned below.
3. Metal Content and Size
The 1864 Quarter Eagle is composed of 90% gold and 10% copper, with a total weight of 4.18 grams. Its diameter measures 18 millimeters, making it relatively small but rich in value.
Value and Investment Potential
Here are some key factors that determine its worth:
- Condition/Grade
Like most collectible coins, the value of an 1864 Quarter Eagle depends heavily on its condition. Coins in Good (G) to Very Fine (VF) grades can sell for $2,500 to $4,500, while coins in Extremely Fine (EF) condition may fetch $10,000 or more. Rare examples in Mint State (MS) grades have been known to sell for tens of thousands of dollars at auction. - Rarity and Historical Appeal
Because of its low mintage and the historical context of its production during the Civil War, the 1864 Quarter Eagle carries significant appeal for both history enthusiasts and coin collectors. Its rarity ensures that it remains in high demand, contributing to its steadily increasing value. - Authentication and Grading
Given its rarity, it is crucial to have the 1864 Quarter Eagle authenticated and graded by reputable services like PCGS or NGC. This ensures the coin’s authenticity and helps determine its precise grade and value.
Conclusion
The 1864 Coronet Head Gold $2.50 Quarter Eagle is more than just a coin—it’s a tangible link to a defining period in American history. With its low mintage, beautiful design, and significant value, it continues to capture the interest of collectors and investors.
FAQs
Why is the 1864 Coronet Head Quarter Eagle so rare?
Its low mintage of only 2,824 coins during the Civil War makes it extremely rare today, with few surviving examples.
How much is the 1864 Quarter Eagle worth?
Depending on its condition, its value can range from around $2,500 for lower-grade examples to over $10,000 or more for well-preserved specimens.
What is the design on the 1864 Quarter Eagle?
The coin features Lady Liberty wearing a coronet on the obverse, while the reverse showcases a heraldic eagle clutching arrows and an olive branch.