1839 gold coinage - Director's comment on delay in production.
RogerB
Posts: 8,852 ✭✭✭✭✭
The following is a postscript to a routine coinage report.
[RG104 entry 218. 18390402 P gold prod for March-improve HE design]
"April 2, 1839
To Woodbury from Patterson
Post Script
You have probably observed that the gold coinage of this year has been thus far confined to Eagles. For this cause we have had two reasons. The first, that this variety of coin scarcely existed in the circulation, and that it was much sought after. The second, that we wished to introduce into the half and quarter eagle dies the same eagle [reverse] die. This is now done as to the half eagle, and that coinage will be resumed. The engravers are presently engaged upon the new quarter eagle dies.
The balance of gold uncoined is, as you observe, very large; but this is owing to a deposit of upwards of $202,000 worth made by the Bank of the United States on the 26th ult.
R.M.P."
Can members provide before and after images from their collections for everyone's enjoyment?
Comments
I find this a very fascinating year!
Here are some from my collection:
$2 1/2 1839 PCGS AU53CAC
$2 1/2 1839-O PCGS VF Ex RYK
$5 1839 PCGS XF40 (no pic yet)
$5 1839-C PCGS F12
$5 1839-D PCGS VG10
<BR
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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Nice! The individually punched digits are neat stuff!
Which reverse version came first?
@claychaser
Thats is very nice old gold. Thank you for sharing.
@claychaser beat me to it, but here goes. 1839 was the only year during all four of the existing mints issued quarter eagles.
Philadelphia
Charlotte
Dahlonega
New Orleans
Half Eagles
1839-C
1839-D
@BillJones Thank you. Love gold!
Great stuff there, Bill!
I find the letter interesting.... Why were Eagles in such great demand at that time? Seems as if the smaller coins would have been more in demand. Cheers, RickO
Export. Depositors could request denomination(s) into which their gold or silver was coined.
Yes, export, and the bigger the coin the better because it involved less coins to count. The double eagle came on-line in 1850, it became the coin of choice.
The letter provides some clues.
1) Novelty. Eagles had not been minted since 1804 (ignoring the handful minted at the end of 1838).
2) No other choice. 1839 was a design changeover year from the Classic gold design to the Coronet Head. Through March 1839 the Mint did not have dies prepared in order to mint Coronet half eagles or quarter eagles. So they minted Eagles. They eventually minted 1839 Coronet half eagles but soon gave up on the quarter eagle dies and minted Classic gold quarter eagles for 1839.
3) Demand. The bulk of the gold deposits during this time at the New Orleans Mint were foreign gold coins, used primarily in import/export commerce. Eagles were best.
@Ronyahski....Thanks for the further explanation. Cheers, RickO
On 1839 QE, why does Liberty have four chickens in her hair? Was that the quantity of chickens $2.50 would buy?
@claychaser, your 1839 Classic quarter eagle is one of the nicest I have seen in a while. Your pic makes it look better than AU53. Well struck, that's a tough date. Any story behind your acquisition?