Coin

2½ Dollars "Coronet Head - Quarter Eagle" (1861) — United States

United States • 1861 • KM# 72, PCGS# 1817, 7717-7732, etc.

2½ Dollars "Coronet Head - Quarter Eagle" (1861) — United States

Overview

A gold 2½ Dollars coin of the United States, featuring the 'Coronet Head - Quarter Eagle' design. Minted in 1861 at the San Francisco mint bearing the 'S' mintmark. Struck with a mintage of 24,000 pieces.

Specifications

Country
United States
Year
1861
Composition
Gold (.900) (.100 copper)
Weight
4.18 g
Diameter
18 mm
Mint
United States Mint of San Francisco
Mintmark
S
Shape
Round
Technique
Milled
References
KM# 72, PCGS# 1817, 7717-7732, etc.
Issuer
United States

Design details

Obverse

A coronet head left with the date below and 13 stars around the rim representing the original 13 colonies Script: Latin Lettering: LIBERTY 1907 Engraver: Christian Gobrecht

Reverse

Eagle with arrows and olive branch in talons Script: Latin Lettering: ·UNITED STATES OF AMERICA· 2½ D. Engraver: Christian Gobrecht

Collector insights

  • Design heritage: Christian Gobrecht is credited as the designer for the Standard circulation coins series. Designer attribution helps distinguish this issue from later restrikes or unofficial copies that reuse only the motif.
  • Struck at: United States Mint of San Francisco (mintmark S). Confirm the mintmark on your example before comparing prices — same-year issues from different mints often trade at very different levels.
  • Low mintage: Only 24,000 pieces reported. This puts the issue into key-date territory for its series; expect steep grade-based price scaling and a higher counterfeit risk — provenance and third-party grading matter.
  • Gold issue: Gold (.900) (.100 copper) — bullion demand competes with numismatic demand. Weight and fineness (not just face value) drive the melt-value floor.
  • Catalogue reference: Listed as KM# 72, PCGS# 1817, 7717-7732, etc.. Use this reference code when cross-checking auction archives, dealer inventories, and standard printed catalogues.

Curator Insights

Historical context

The year 1861 marked the beginning of the American Civil War, a period of significant economic transition for the United States. Gold coins minted in San Francisco during this era served as vital currency for Western commerce, providing stability while the Eastern states faced the suspension of specie payments and the introduction of paper greenbacks. This specific issue represents the San Francisco Mint's role in maintaining a gold-based economy during the national conflict.

Design heritage

Designed by Christian Gobrecht, the obverse features a left-facing Liberty wearing a coronet inscribed with her name, surrounded by thirteen stars. Gobrecht, who served as the third Chief Engraver of the United States Mint, utilized a Neoclassical style inspired by contemporary European medals. The reverse depicts a heraldic eagle holding an olive branch and arrows, symbolizing the nation's desire for peace backed by the strength to defend it.

Varieties and technical notes

Collectors of the 1861 San Francisco issue should focus on the 'S' mint mark located on the reverse above the denomination. This issue features a reeded edge and was produced using the milled technique standard for the series. Evaluation should include an inspection of the mint mark for clarity and the rim for any evidence of the heavy circulation typical for Western gold of this period.

Survival and modern availability

With a mintage of only 24,000 pieces, the 1861-S Quarter Eagle is a significant rarity within the Coronet Head series. While many examples were lost to circulation attrition or melted during the gold recalls of 1933, survivors are highly prized by collectors. Most known specimens show signs of heavy wear, making examples in high AU or Mint State grades exceptionally scarce in the modern market.

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