By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The Philadelphia Mint struck over two million gold coins in 1850, more than one million of which were the new Liberty Head Double Eagle denomination, a $20 gold coin with a troubled development cycle released one year after its diminutive Gold Dollar counterpart.
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Philadelphia Mint Gold Coin Production in 1850 |
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| 1850 Gold Dollar | 481,953 | ||
| 1850 Liberty Head Quarter Eagle | 252,923 | ||
| 1850 Liberty Head Half Eagle | 64,491 | ||
| 1850 Liberty Head Eagle | 291,451 | ||
| 1850 Liberty Head Double Eagle | 1,170,261 | ||
With a mintage of 252,923, the 1850 Liberty Head Quarter Eagle is the most common of the four mint-specific issues. The only other emission to be struck to any substantial degree was the 1850-O Liberty Head Quarter Eagle, the most plentiful gold coin struck in 1850 by the New Orleans Mint. That coin had a mintage of just 84,000 pieces, however.
In grades ranging from XF to AU, the 1850 Liberty Head Quarter Eagle is less common than the 1851 Philly strike but should pose no real challenge to the budget-minded collector. In Choice Mint State or above, however, the 1850 reveals its true character. The leading grading services likely over-report at MS63 since examples graded MS64 and above are rare. Auction data at this level is scant and we wouldn’t be surprised to learn that the best coins typically trade privately through dealers. Of the two coins reported by NGC at MS67, we’d love to find out more about them.
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Market Data and Noteworthy Specimens
Top Population: PCGS MS65 (1, 10/2024), NGC MS67 (2, 10/2024), and CAC MS64 (1:0 stickered:graded, 10/2024).
- PCGS MS64+ CAC #25038627: Stack’s Bowers, June 20, 2013, Lot 2390 – $12,161.25; DLRC, June 16, 2019, Lot 612393 – $18,350; Del Loy Hansen. Lustrous. Small spot at the bottom left of the eye. Small upright mark between stars 3 and 4. Long thin hairline scratch behind Liberty’s neck. Star 10 is weak. Small horizontal mark above eagle’s right wing.
- NGC MS64: “The Clara Collection,” Stack’s, April 17, 2007, Lot 503 – $7,130.
- NGC MS64 #1726747-004: Heritage Auctions, July 28, 2003, Lot 10133 – $4,830; Heritage Auctions, February 16, 2007, Lot 4318 – $4,887.50. Deep vertical hit to the right of star 4. Eagle’s right leg is weak. Two ticks above eagle’s right wing.
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1850 Liberty Head Quarter Eagle Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1850 |
| Denomination: | $2.50 (USD) |
| Mintmark: | None (Philadelphia) |
| Mintage: | 252,923 |
| Alloy: | .900 Gold, .100 Copper |
| Weight: | 4.18 g |
| Diameter: | 18.00 mm |
| Edge: | Reeded |
| OBV Designer: | Christian Gobrecht |
| REV Designer: | Christian Gobrecht |
| Quality: | Business Strike |
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