1798 $2.50 Draped Bust Quarter Eagle NGC AU58

BD-2, Five Berries Reverse—Only 45 to 55 Pieces Extant

1798 $2-1/2 Wide Date, Five Berries, BD-2, R.5, AU58 NGC. Bass-Dannreuther Die State b/a. The original mintage was 1,094 coins for the 1798 Draped Bust quarter eagle. However, there are a mere 45 to 55 surviving pieces of BD-2. When this issue was produced, gold coins were undervalued and many ended up shipped off to Europe sold for their bullion value. This issue was among those gold coins that vanished from our shores.

1798 $2.50 Draped Bust date comparison, Wide Date, courtesy of PCGS Coinfacts.

There are two varieties known of this issue. BD-1 has a Close Date obverse and Four Berries on the reverse, while BD-2 features a Wide Date and Five Berries on the reverse. Writes Heritage Auctions of this issue, “The latter type is slightly more available, with an estimated mintage of 480 to 838 pieces -- John Dannreuther believes the total to be near the high end of that spectrum -- and a surviving population of 45 to 55 coins.” The 1798 Draped Bust BD-2 quarter eagle is a rarity in each and every grade and is seldom available via private sale or at public auction.

NGC has certified 23 examples of the 1798 quarter eagle; that includes both varieties and across all grade levels. Of those, NGC has graded 5 as AU58 with 7 finer. Collectors Universe gives this variety a price of $65,000.00 in AU58. This near-Uncirculated piece displays light chatter over golden-yellow surfaces, with traces of reflectivity in the fields. There is a minor softness in the center of both sides, however the remaining devices are well-struck. To the right of star #1 is found a die crack that suggests a later die state.