Capped Bust $2.50 Quarter Eagle
After revamping the design from capped bust to only left faced & with a new modification to quarter eagle, thought to be produced only 2,710 bits, these type of coins demand premium value during auction block to stand above their toughest competition & easily earn their place in stable priced directory.
After this new modification to left design made its market flow, it extended upto 1834 & no quarter eagles were produced after 1808 till 1821. It is presumed that about 3,000 to 4,000 pieces per year of these type of coins produced in this time span with just 760 allocated for 1826 & the remaining for 1821. However, mintage quantities stated in ideal references may not be accurate, they may hold an approximate value in accordance with recent availability.
Complications in numbers minted of these type of coins are less to very minute, with problems being recognized in the following years – 1821, 1824/1 overdate, 1825, 1826, 1827, 1829, 1830, 1831, 1832, 1833, and 1834. By the end of 1834,due to a sudden increase in the value of gold in overall marketplace, most of the available gold coins were either liquefied to produce blocks or disseminated outside in an illegal way. Thus only a small number of these type of coins prevailed today although about 4,000 pieces were presumed to be minted & only a couple hundred of this particular quarter eagle were disseminated to the manpower.
Then at a later stage, Congress passed the June 24.1824 ,thus decreasing the permitted weight & authorized proportion of golds in these type of coins ,leading to production of a less purer form of the previous American Gold coins. After coming to existence, this thought process practically worked & the authority was able to reduce the exportation as well as block the illegal trafficking of the pieces. Although the law did not completely plugged in the exportation channel, it definitely seemed to show some effect to that unauthorized circulation to the government asset & helped to keep the economy stable & currency among the general republicans.
To make it easier for common citizens to distinguish these two types of coins & also to reduce the panic quotient, both the front & the reverse sides were given a touch of moderation while preserving their traditional approach. The American traditional maxim E PLURIBUS UNUM was no longer seen on the back side of these type of coins. The gold coins manufactured before August 1, 1834 (the time in which the sudden drift took place) were reported as “old tenor” affairs & were dealt above the face value of ingot traders to keep the economy stable & to allow the currency flow in the market instead of being the circulation remaining confined to only the manufacturing bank. Scrutinized inspection of old- time magazines & preparations such as Niles Register, an advanced & untimely equivalent to the wall street journal reveals during 1830 civil war, these illegal trafficking reached at its peak mostly by ingot dealers & bankers.