CAPPED HEAD $2-1/2 DOLLARS OR QUARTER EAGLES 1821-1834
Scot's matronly, thick-necked Liberty on the new 1821 quarter eagle wears a headdress in the guise of a Phrygian or Liberty cap, really a mobcap, typically worn by women around the turn of the 19th century. Thirteen widely spaced stars surround the bust, with the date below. An eagle with outstretched wings graces the reverse, and the motto, E PLURIBUS UNUM appears above. Both are surrounded by the legend UNITED STATES OF AMERICA and 2½ D.
The Capped Head quarter eagle maintained the legal weight standard, but was slightly smaller and thicker than the previous quarter eagle, Reich's 1808 Capped Bust design, which had lasted only one year. In 1829, William Kneass, who had replaced Scot after his death in 1823, modified the coin by reducing the diameter further, punching in smaller stars on the obverse and redrawing the Liberty head and eagle. Kneass created a beaded border surrounded by a high, plain rim, taking advantage of a recent Mint innovation, the "close collar." Essentially a steel doughnut with a hole the size of the coin and grooves to impart a reeded edge, the close collar gave an even, finished look to the coin.
From 1821 through 1834, 42,065 business strikes and fewer than 150 proof Capped Head quarter eagles were made. Although numismatists recognize the 1821 through 1827 issues as a separate type from the later, smaller coins, the rarity of the entire series generally limits type collectors to just one example of this design. Collecting the eleven issues by date is a formidable challenge not attempted by many, as every issue is rare in any grade and some, like the low mintage 1826 and the 1834 are particularly so. The 1834 coin is almost legendary in its rarity, as the bulk of the mintage of 4000 pieces was never released, but melted at the Mint.
When grading this design, look for wear on the hair above Liberty's forehead, on the top of her cap, and on her cheek. On the reverse, check the eagle's wing tips and claws.
Some information courtesy of Numismatic Guaranty Corporation
