1833 Capped Head Left Quarter Eagle. BD-1, the only known dies. Rarity-5. AU-55 (NGC).Attractive golden-olive patina greets the viewer from both sides of this sharply defined example. Much of the original finish remains, the fields decided semi-prooflike when viewed with the aid of direct lighting. BD Die State a/c.<p>Even after the resumption of quarter eagle production in 1821, the denomination was once again often ignored in commercial use and not struck in large numbers. Only a reported 4,160 quarter eagles rolled off the just opened Second Philadelphia Mints press in 1833, as compared to the nearly 200,000 half eagles struck the same year. The entire run was achieved through the use of a single pair of dies; that single reverse die was used to produce every Capped Head quarter eagle beginning in 1830 and only retired in 1834 when the Classic Head design was introduced. After Congress reduced the gold coin weight standard in mid to late 1834, the "old tenor" quarter eagles in circulation quickly disappeared into the melting pots of bullion dealers, including large numbers of the 1833 issue. What few that did survive destruction were saved only through domestic hoarding that took place around the Panic of 1837 or the few that managed to escape these shores via international trade. Today, Bass-Dannreuther postulate that somewhere between 60 and 80 individual coins are held in numismatic channels, while PCGS CoinFacts cites 97 as the likely number. Fortunately, most seem to be found at the higher end of the circulated grade levels, so while the issue is an all-around rarity, at least well preserved specimens can be had. Here is just such a coin worthy of inclusion in any specialist cabinet of early gold.
