1901-S $5 Liberty PCGS MS66 CAC
The quarter eagle made its debut in 1796. Of the 10 denominations authorized by Congress in 1792, the quarter eagle was the last to be minted, and then only in very small numbers until the Classic Head was created. This has resulted in all early quarter eagles being rarities (“early” being defined as coins minted before 1834). All early gold coins were minted in Philadelphia. Not until the Classic Head of 1839 was one struck at a branch Mint. When introduced, the quarter eagle has the distinction of being the first precious-metal American coin lacking stars on its obverse. All other precious-metal coins authorized in 1792 were first minted with 15 stars arrayed along the obverse rim. The Mint soon decided to standardize the number of stars obverse at 13 as an honor to the original Colonies.
In its early years the Mint made coins upon request. Individual bullion depositors, banks and others could give the Mint bullion or foreign coins and request coins of specific denominations. When requesting gold coins, banks overwhelmingly preferred the half eagle, and asked for very few quarter eagles. The few Quarter eagles they did call for seldom left their vaults to enter circulation. Individuals also shunned the quarter eagle due to its large value in that era. A $2½ dollar gold piece represented 5 days’ pay for the average Mint employee. Few individuals made purchases requiring that much buying power. Such was the paucity of demand for the denomination that in the first 38 years of production, only twice did an annual mintage ever exceed 4,540, with the average annual mintage being less than 3,000. The workhorses of everyday commerce were the cent, half dollar and half eagle. The fact that most early quarter eagles languished in bank vaults and did not circulate is evidenced by the population report of the Professional Coin Grading Service. As of this writing, PCGS has graded 927 early-date quarter eagles. Of this number, over 79% are certified as AU-50 or better. An AU-50 coin has a very minor amount of wear due to circulation. These coins simply were unused; thus, although there are a limited number of these classic coins on the market, those available are usually high-grade examples.
A LITTLE STICKER MAKES A BIG DIFFERENCE.
Within each number of the coin grading scale is a small range of condition from low-end to high-end. Certified coins of the same grade can be of varying quality. Many of today’s collectors want coins that are solid or premium quality for their assigned grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins … and award our sticker only to those coins that meet the standard for today’s selective buyer.
WHAT THE CAC STICKER MEANS:
- Verified. Your coin has been verified as meeting the standard for strict quality within its grade.
- Guaranteed. CAC stands behind our verification by making markets in most actively traded coins.
THE CAC STICKER IS BACKED BY EXPERIENCE.
CAC was founded by leading members of the numismatic community, including John Albanese, a respected authority on coin grading and the rare coin market.