1798 Capped Bust Right Quarter Eagle. BD-1. Rarity-5+. Close Date, 4 Berries. AU-53 (PCGS).Pleasing semi-reflective surfaces exhibit blushes of pale rose to otherwise dominant bright olive-gold patina. The strike is well centered on the obverse, drawn trivially to the viewers upper right on the reverse, although denticulation is also complete on the latter side. Striking detail to the major design elements is suitably bold in an example of this challenging early U.S. Mint gold type. BD Die State a.<p>The demand for quarter eagles in daily use was minimal at best for most of the early years of the denomination, and 1798 was no different. Mint records show that the total number of coins delivered in that year barely cracked the thousand mark, with only 1,094 quarter eagles produced in total. Remarkably, it took four dies, two obverses and two reverses, in two completely separate pairings to produce this small number of coins. While both obverse dies share the same disproportionately small 8 punch, the placement is noticeably different. On the first of these die marriages, the BD-1 (as here), the 8 is located closer to the 9 but more importantly it is clearly separate from the base of Libertys bust, whereas on the second obverse, the 8 touches the base. The reverse dies differ in the number of berries in the wreath; there are four berries on the BD-1 while the BD-2 reverse there are five. Sometime early in the production of the BD-1 coins, cracks began to develop near the date which rapidly led to a huge cud that not only covered the 1 in the date but also several of the stars on the left side. Bass-Dannreuther estimated 256 to 554 coins may have been struck before the die reached its terminal state based on the paltry number of survivors compared to the later BD-2 variant. Estimates vary somewhat but between 20 and 20 BD-1 specimens are thought extant, as compared to twice that many for the BD-2 variety. The present coin was struck while the dies were still fresh, with no traces of cracks or clash marks that afflict later die states, making it a particularly pleasing specimen of this very rare issue. Worth serious consideration from advanced early gold specialists.
