Important British and World Coins including Important Irish Coins from a Private Collection (Part II)

United States, Two-and-a-Half Dollars, 1796, no stars. Slight rim and surface marks and light blank filing on head, otherwise extremely fine or better, very rare (£30,000-40,000)

The 1796 no stars quarter-eagle was the first coin of this denomination to be struck by the Philadelphia mint. Its classic, cameo-like appearance, although aesthetically pleasing, was impractical in circulation and before the end of the year a border of stars was introduced to protect the portrait and fields from wear. With an estimated mintage of only 963 pieces, the 1796, like many subsequent years, was struck in tiny quantities. This reflects the fact that the denomination was too large for daily transactions but too small for international trade payments, which favoured the use of the ten-dollar piece. Add to that the fact that many early gold coins were melted down in the 1830s when their gold value exceeded their face value and it becomes clear just how truly rare these pieces are