Even before the first production of the nation’s coins in the early 1790s, United States Mint officials knew how important American coinage was to maintain stability and unity. Appearance was everything, but even more so was the precious metal content and getting it right. This led Congress to stipulate within the Coinage Act of 1792 that Mint officers who held financial positions were required to incur $10,000 personal bonds before silver or gold were ever minted.
However, the Chief Coiner and Assayer were unable to come up with the sum which would eventually force Congress, after much insistence, to lower the bond requirement. With bonds lowered, silver coins were minted and in the following year of 1795, the first gold coins ever produced by the United States Mint were struck.
Capped Bust to Right (1795-1807)
Chief Engraver Robert Scot’s design on the new coins were modeled after a Roman-style Hellenistic Greek goddess as Liberty’s hair flowed underneath a cap with the bust draped. The reverse features an eagle with its wings outspread holding a wreath in its beak and a branch in its claws. The date and the inscriptions LIBERTY and UNITED STATES OF AMERICA are also featured.
In 1795, there were 8,707 gold half eagles struck with what is called the Small Eagle Reverse (1795-1798). In the last year of that reverse, 1798, there are only six known to exist according to the Red Book. However, there is also a Heraldic Eagle reverse (1795-1807). Notice that the 1795 and 1795 dates overlap for both reverses and the date of 1798 for the Heraldic reverse was produced on a much larger scale (24,867).
When the new Mint Director, Robert Patterson, was appointed in 1807, he asked engraver and assistant to Chief Engraver Scot, John Reich, to improve the design on the coins. Six months later, the half eagles would change.
Draped Bust to Left (1807-1812)
The motif on the obverse of the new half eagle would feature Liberty facing left with 13 total starts flanking her on either side. She is wearing a cloth cap inscribed with LIBERTY as her curly hair flows down to her shoulder. The reverse depicts an eagle with outstretch wings holding three arrows in its claws as it sits atop a palm branch. E PLURIBUS UNUM, UNITED STATES OF AMERICA, and 5D are featured along the edges and the top. Reich was keen on putting the denomination on gold and silver coins, something he became known for starting.
Nearly 400,000 half eagles were produced between 1807 and 1812 with this depiction. However, many would not make it years later as United States gold coins were at the mercy of being melted.
Capped Head to Left (1813-1834)
In 1813, the Capped Head half eagle was the only gold coin from the United States being produced. Quarter eagles had not been minted since 1808. Of what little gold there was, most of it being sent to the Mint came from banks. The Capped Head half eagle series suffered the most at the hands of the melting of gold and most never saw circulation.
Produced from 1813-1834, the Capped Head design was modified by removing the draper and bosom of Liberty and leaving the head large as the central design point on the obverse. The reverse remained just slightly altered until 1829 when William Kneass’ modification would reduce the diameter from 25 to 22.5 millimeters. The portrait of Liberty was also in higher relief and the beaded border would replace the denticles of the previous design.
By the summer of 1834, Congress would look to reduce the weight and fineness of United States gold coins. Thus introduced the Classic Head coins and the reemergence of accepted and circulated gold in everyday commerce.
Source: NGC Coin; The Official 2024 Red Book
