Extremely
Rare 1806/5 Draped Bust $2.50 Gold NGC MS60, 7x6 Stars. -
$92,500. Click on Coin Image to
enlarge
1806/5
Draped Bust $2.50 NGC MS60. 7x6 Stars. Only 480 Struck.
Very rare. This early date rare mint state 1806/5 Quarter
Eagle has an unusually sharp strike with bright mint
luster within its devices. It is tied for the second
finest at NGC and tied for finest at PCGS. The almost
cameo appearance is a result of lightly outlined devices
that are set against a darker background. No wear is
seen, as expected for a mint state coin, and the surfaces
are original, clean, and free of distractions worthy
of mention. Unlike most coins of this type that have
light striking in one area or another, this piece is
well struck on both sides. Full details are seen on
Liberty’s hair, the centers of the stars, the shield,
the stars above the eagle, and the clouds.
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The Early quarter eagle
series consists on only eight dates from 1796 to 1807
with none made from 1799 to 1801 and none in 1803. The
life-span of the series encompassed the presidencies
of George Washington, John Adams, and Thomas Jefferson.
This coin represents the second major variety of the
date. The first was the BD-1 with the 1806/4 overdate
and 8—5 stars on the obverse. The present coin,
the BD-2, has a different overdate and 7—6 stars
on the obverse. These are the only two known varieties
for 1806.
The obverse design shows
Liberty facing right. Below her is the date which is
off center to the left. Between the date and the word
LIBERTY on the left side of the coin are eight stars.
Five stars follow LIBERTY down to the bust. Liberty
wears a large, soft cap. Her hair flows down and also
shows on her forehead. The design was probably taken
from a Roman engraving of a Greek goddess. Liberty’s
cap was certainly not a Phrygian or liberty cap. The
liberty cap, emblematic of freedom, was worn by freed
slaves and freed gladiators in Roman times. It was a
close fitting cap used to cover a shorn head, which
was one of the way slaves were identified.
The oversized cap worn
by Liberty has been called a turban, and the design
has been called the Turban Head because of it. The reverse
shows a heraldic eagle. However, Scott mixed up the
positions of the arrows and olive branch. The arrows
held in the wrong claw signify defiant militarism. Either
Scott made an error copying the image of the Great Seal,
or he deliberately changed the symbolism. Perhaps the
design was a warning to France, with whom the United
States was engaged in an undeclared naval war, and others
to be mindful of the new country’s sovereignty.
In the field above the eagle are thirteen stars and
above them, seven clouds. A banner from wing to wing
has the motto E PLURIBUS UNUM.
