By CoinWeek…
On Sunday, November 9, 2025, GreatCollections Coin Auctions is set to offer one of the most historically significant and conditionally rare coins from the early U.S. Mint: a 1796 Capped Bust Right Gold Quarter Eagle without stars on the obverse. Graded AU55 (About Uncirculated) by PCGS, this example is a true prize for specialists focused on the earliest issues of American gold coinage. The coin’s appearance on the market provides a scarce opportunity to acquire a high-grade example of this legendary key date.
The First Gold Quarter Eagle and a Short-Lived Design
The 1796 Quarter Eagle is a $2.50 gold piece that holds the distinction of being the first year of issue for the denomination. The design, created by Mint Chief Engraver Robert Scot, features a Capped Bust of Liberty facing right. However, the initial design famously omitted stars around the obverse portrait. This “No Stars” variety proved to be short-lived, as the design was quickly modified later in the year to include 16 stars, one for each state then in the Union.
This coin is identified by numismatists as the BD-2 variety and is designated as a Rarity 4 (R4) issue. With an extremely small original mintage of only 963 pieces, this is one of the most elusive gold coins from the 18th century. Subsequent meltings and attrition have further reduced the survival estimate to fewer than 200 pieces across all grades, making any surviving example a major condition rarity.
A High-Grade Survivor in AU-55
The present example, certified PCGS AU-55, stands out among its peers. The coin exhibits strong detail with only the slightest evidence of wear on the highest points of the design, such as Liberty’s hair and the eagle’s breast feathers. A small planchet void is visible in the lower right side of the obverse, which serves as a marker for pedigree purposes.
This coin’s last appearance was at Heritage’s Bruce Sherman sale in January, where it sold for $204,000.
While the coin’s physical characteristics, such as luster and surface preservation, contribute significantly to its eye appeal, its conditional rarity is paramount in the series. Given the tiny original production figure and the harsh realities of early commerce, finding any equivalent or better example of the type may prove exceedingly difficult.
The 1796 “No Stars” Quarter Eagle is a quintessential American gold rarity, and its offering at GreatCollections is a major event for the numismatic community. The auction is currently listed with a bid of $46,000 and will close on Sunday, November 9, 2025.
The post Historic U.S. Gold Rarity: The 1796 ‘No Stars’ Quarter Eagle PCGS AU55 Set to Sell at GreatCollections appeared first on CoinWeek: Rare Coin, Currency, and Bullion News for Collectors.
