1848 $2.50 Liberty Gold Quarter Eagle AU-55 NGC

Coin Highlights:

• Population of 11* in AU-55, with only 16 certified in MS by NGC.
• Mintage of 6,500.
• Contains .1209 oz of Gold.
• NGC encapsulation protects and guarantees the coin's AU-55 condition.
• Obverse: Christian Gobrecht's ubiquitous depiction of Liberty as a woman with braided hair wearing a coronet.
• Reverse: Heraldic eagle, "United States of America" surrounding, denomination below as "2 1/2 D."
• Guaranteed by the U.S. Mint.

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* Population as reported by NGC as of June 24, 2016.

One of the tougher Philadelphia issues of this popular set, with a mintage much more befitting a Dahlonega or Charlotte release, the 1848 is difficult in high grades. PCGS estimates only 7 unique examples extant in uncirculated grades, and none have ever been seen in gem grades at either service. This attractive, lightly circulated example has a place in any collection of rare U.S. Gold.

First introduced in 1838 on the $10 Gold eagle and in continuous use on U.S. Gold coinage until 1907, the Liberty Head, or Coronet Head, designed by Chief Engraver of the U.S. Mint Christian Gobrecht, was one of the longest-produced coin designs in American history . This design was first used on the quarter eagle in 1840, replacing the short-lived Classic Head design. This design depicts Liberty as a left-facing woman adorned by a coronet bearing the legend "LIBERTY", with 13 stars around the border. The reverse, also a Gobrecht design, features a skyward facing eagle with a shield on its breast, clutching a bundle of arrows in one talon and an olive branch in the other.

Despite the large number of these coins minted, many of the early Philadelphia issues are much less common than would be expected. Mintages over 100,000 pieces were all but unheard of through the 1840s, and a few years even saw mintages under 10,000 - 1842, 1844, and 1848. Being a popular denomination for use in commerce, relatively few examples from this era escaped serious circulation wear.