US Quarter Eagle $2.50 and Half Eagle $5 Gold Piece Classic Head (Fakes are possible) 1834 to 1839

Nice coin. These old beauties are highly sought by collectors, especially if they are in great numismatic shape, like the coin in the picture.

Two things strongly affect the value of these coins: (1) its numismatic grade or condition, and (2) whether or not it is 'slabbed' by a third party grading service.

The coin in the picture sold for $2100 US dollars in a 2015 eBay auction. It is almost uncirculated in a PCGS slab. Most of the coins in this series command high prices when they are in superb numismatic (coin collector) condition. They fall lower, however, when worn, scratched, or heavily circulated.

NEVER CLEAN A COIN. CLEANING RUINS VALUE.

A good way to estimate the value of these old gold pieces is to first compute their 'melt' or 'base' or 'bullion' value (BV) and then add value due to numismatic appeal. These coins contain:

QUARTER EAGLE 2 1/2 DOLLARS: 0.121 troy ounces of gold
HALF EAGLE 5 DOLLARS: 0.242 ounces gold

Using web sites such as kitco.com, find the current price of gold and multiply. Say the price of gold is $1200 US dollars per troy ounce, so the BV of a quarter eagle would be 0.121 x 1200 = $145. A half eagle is twice that.

Here are some typical values for these coins, that is, the base value plus the numismatic value.

QUARTER EAGLES 2 1/2 DOLLARS (COMMON DATES)
worn: BV + $100
average circulated: BV + $350
well preserved: BV + $600
fully uncirculated: BV + $3000

HALF EAGLES 5 DOLLARS (COMMON DATES)
worn: BV + $200
average circulated: BV + $300
well preserved: BV + $600
fully uncirculated: BV + $4000

The rapid jump in price between circulated and uncirculated coins shows the importance of authenticating, grading, and encapsulating rare coins -- the 'slab' makes a big difference when determining whether or not a coin is fully uncirculated.

Most coins in these series carry common dates. Better dates, however, exist. Look for the C or D mint marks under Miss Liberty's head and above the date.

QUARTER EAGLE BETTER DATES:
1838C: $3800 in well preserved condition
1839: $1400 well preserved
1839C: $3000 well preserved
1839D: $4000 well preserved
1839O: $2200 well preserved

HALF EAGLE BETTER DATES:
1838C: $8000 in well preserved condition
1838D: $5000 well preserved

Another reason the slab is important is because there are plenty of fake gold coins on the market today. Certification by PCGS, NGC, ICG, or ANACS makes authenticity much more certain. Look them up on the Interent. Do not use other services.

If you have a half eagle $5 gold piece dated 1834, check the 4. If you have the crosslet 4, your coin is much more valuable than the plain 4. An 1834 crosslet 4 half eagle catalogs at $4000 in well preserved condition.

Finally, if your 1834 quarter eagle or half eagle looks like this picture, with E PLURIBUS UNUM above the eagle on the reverse side, zowie! You have a very valuable coin with catalog values as follows.

1834 QUARTER EAGLE WITH E PLURIBUS UNUM
worn: $3000
uncirculated: $40000

1834 HALF EAGLE WITH E PLURIBUS UNUM
worn: $7000
uncirculated: $70000

See this page [PRESS HERE] for a discussion of counterfeits.
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