Coin Specifications

Category: Early $2.50 (1796-1834)
Mint: Philadelphia
Mintage: 2,600
Catalog: KM-46
Obverse Designer: John Reich
Reverse Designer: John Reich
Composition: Gold
Fineness: 0.9160
Weight: 4.3700g
AGW: 0.1287oz
Melt Value: $158.55 (10/24/2014)
Diameter: 18.5mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1824/1 $2.5 MS obverse 1824/1 $2.5 MS reverse


  
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Description & Analysis

Elected in 1824, John Quincy Adams was one of the most studious and capable men to hold the office of President of the United States. Contemporaries got a glimpse of his intellectual ability when, as Secretary of State under President James Monroe, Adams served as the chief architect of the Monroe Doctrine. Presented to Congress on December 2, 1823, the doctrine stipulated that the entire Western Hemisphere must remain free of European colonization and/or intervention at the risk of arousing the ire of the United States. Although the federal government could not enforce the proclamation save through Great Britain's naval supremacy, Adams' had scored a significant moral victory for the young nation. Despite the great promise and undeniable ability that he demonstrated as a member of Monroe's cabinet, Adams' presidency ranks as one of the most disappointing of the 19th century. Blunt in his presentation and callous toward potential political allies, Adams lacked the 'gentle touch' required of a successful chief executive. In 1828, disconnected from Congress and scorned by large segments of the public, Adams' one-term presidency met its ignominious end with the sweeping election of Andrew Jackson.

During the early 1790s, Secretary of the Treasury Alexander Hamilton conducted extensive research into the subject of the United States' future coinage. Unfortunately, the Mint Act of 1792 did not incorporate every aspect of Hamilton's proposed decimal system. Among the gold denominations authorized, Congress envisioned the quarter eagle as an important monetary stepping stone between the silver dollar and the gold half eagle. Although the concept looked infallible on paper, in practice the quarter eagle failed to live up to its economic potential through the mid-1830s. In the decades before gold dollar production, the quarter eagle could have plugged a yawning gap in both banks' stocks and consumers' pockets. After 1808, however, public interest in the denomination reached such a low that, with the exception of 1821, the Philadelphia Mint had ignored quarter eagle production until 1824. The latter year's mintage inaugurated limited deliveries through 1834, but, like John Quincy Adams, the quarter eagle continued to fall short of its potential. Instead of fulfilling their anointed task as circulating mediums of exchange, most of the Capped Head Left quarter eagles of 1821-1834 went to the melting pot in the aftermath of the Coinage Act of 1834.

Struck in the year of Adams' election, the 1824/1 quarter eagle registered a paltry delivery of 2,600 pieces. Although this is the lowest original mintage of the series after the 1826/5, survivors of the delivery are among the more frequently encountered type representatives among today's collectors.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 8/27/2014

Click on a price to see historical prices, comparison charts and trends.

1824/1 $2.5 MS
  GVGFVF4045505355586061626364656667686970
Base $ 2500 3800 6000 8250 11100 11100 15900 18450 20450 24750 31000 38400 51500 82500 167500 - - - - - -
$ 12750 17200 19800 22000 26500 34000 41000 56000 90000 190000 - - - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 28
Low Grade: VF
Average Grade: 58
High Grade: 63


Upcoming Auctions


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
8/6/2009 NGC AU 53   David Lawrence Rare Coins Thursday - Internet Auction # 399, 405/Lot# 7105 $12,047.40
1/31/2010 NGC MS 61   Goldberg January 31 - February 3, 2010 Pre-Long Beach Coin and Currency Auction, 57/Lot# 2065 $24,150.00
11/3/2010 NGC AU 50   Stack's Bowers The November 2010 Baltimore Auction, 44/Lot# 4782 $8,050.00
6/19/2011 PCGS Genuine Genuine   Heritage Auctions Internet Coin Auction Session(2), 131126/Lot# 25231 $3,881.25
10/13/2011 PCGS AU 50   Heritage Auctions 2011 October 13-16 US Coins Signature Auction #1160- Pittsburgh Session(3), 1160/Lot# 4631 $13,800.00
2/3/2014 PCGS Genuine VG   Heritage Auctions 2014 February 3 - 5 US Coins Signature Auction - New York Session(4), 1202/Lot# 5302 $5,287.50
2/9/2014 PCGS XF 45   GreatCollections GreatCollections Coin Auctions 02/09/2014, 171/Lot# 163187 $13,202.23
3/20/2014 NGC Details AU Details  Heritage Auctions 2014 March 20 The Collection of Donald E. Bently - Bently Foundation US Coins Signature Auction - San Francisco Session(1), 1205/Lot# 30212 $5,581.25


NGC Registry

NGC Registry Score 1824/1 $2.5 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base2731295531943447381741414565493553265563588860896400695177569450116401427617826226732938238798
2805303432783570392542824688506554055671595561926583721983201018012518154591944124909325200
000000468850655405567159556192658372198320101801251815459194412490900
000000481151955484577960226296676774878885109101339716642210572714500
1824/1 $2.5 MS Prooflike
 PrAgGVGFVF4045505355586061626364656667686970
Base2861309433403601398443194756513755405783611863246644721080389776120201471818347232943013439721
2938317634273728409544644883527156215894618664306832748686171052412919159271999625574333290
000000488352715621589461866430683274868617105241291915927199962557400
000000501054055702600662556537702177629196112721381817137216452785400
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