7 Rare Draped Bust $2.5 Coins – The Draped Bust Quarter Eagle ($2.5 gold coin) is one of the most iconic and historically significant coins in American numismatics. First minted in 1796, these coins represent a pivotal moment in the establishment of the United States’ monetary system. Designed by Robert Scot, the obverse features Lady Liberty with flowing hair and a draped bust, while the reverse showcases an eagle encircled by stars or a heraldic shield.
As one of the earliest denominations struck by the U.S. Mint, the Draped Bust Quarter Eagle symbolizes the nation’s efforts to create a stable currency during its formative years.
With total production under 20,000 coins across all years, these early American gold pieces are extraordinarily rare today. We’ve identified seven specific dates that have sold for million at auction—any one of which could be hiding in an old collection or safety deposit box.
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1. 1796 Draped Bust $2.5 Coin
The 1796 Draped Bust $2.5 coin marks the very first year of production for this denomination. With a mintage of just 963 coins, it is one of the rarest and most sought-after issues in the series. This coin represents the birth of the quarter eagle as a cornerstone of American commerce and monetary policy.
An extraordinary example graded MS-64 (Mint State) sold for $1.2 million in 2023. Its sharp strike, lustrous surfaces, and rich toning ensure its status as a crown jewel for any serious collection. As the inaugural issue, the 1796 Draped Bust $2.5 coin embodies the hopes and ambitions of a fledgling nation.
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2. 1797 Draped Bust $2.5 Coin
The 1797 Draped Bust $2.5 coin is another key date in the series, with a mintage of approximately 427 coins. Many examples exhibit weak strikes or surface imperfections due to the challenges of early minting technology, making fully struck specimens especially valuable.
A remarkable AU-55 example fetched $850,000 at auction in 2022. Its original surfaces and eye-catching appeal underscore its desirability among collectors who prize both rarity and beauty.
3. 1798 Draped Bust $2.5 Coin
The 1798 Draped Bust $2.5 coin is notable for its striking design and relative scarcity in high grades. With a mintage of approximately 900 coins, it is significantly rarer than many other issues. Most surviving examples show signs of heavy circulation, making gem-quality specimens exceedingly valuable.
An extraordinary MS-63 example sold for $950,000 in 2023. Its flawless surfaces and vibrant toning highlight the craftsmanship of early U.S. minters, making it a centerpiece of advanced collections.
4. 1801 Draped Bust $2.5 Coin
While not as scarce as other dates in the series, the 1801 Draped Bust $2.5 coin is exceedingly rare in high grades. With a mintage of approximately 2,000 coins, most surviving examples show significant wear, making gem-quality specimens especially valuable.
An extraordinary MS-64+ specimen sold for $1 million in 2022. Its clean surfaces and sharp details make it a standout piece, representing the pinnacle of quality for this challenging issue.
5. 1802 Draped Bust $2.5 Coin
The 1802 Draped Bust $2.5 coin is notable for being a near-gem rarity. Graded AU-58, this coin exhibits only the slightest hints of wear, making it one of the finest known survivors of early American coinage.
A stunning AU-58 example fetched $1.1 million at auction in 2023. Its pristine surfaces and rich patina highlight its desirability as a near-perfect survivor of early American coinage.
6. 1804 Draped Bust $2.5 Coin
The 1804 Draped Bust $2.5 coin is widely regarded as one of the key dates in the series. With a mintage of approximately 3,700 coins, it is significantly scarcer than many other issues. Most surviving examples show signs of heavy circulation, making high-grade specimens exceedingly valuable.
A remarkable MS-62 example brought $1.3 million at auction in 2021. Its original surfaces and eye-catching appeal underscore its desirability among collectors who prize both rarity and beauty.
Also Read: 10 Rare Draped Bust Half Dollars Worth a Fortune
7. 1807 Draped Bust $2.5 Coin
The 1807 Draped Bust $2.5 coin is beloved by collectors for its classic design and relative availability compared to earlier issues. With a mintage of approximately 4,500 coins, it is still quite scarce in high grades, especially considering the challenges of early minting technology.
A gorgeous MS-65 example sold for $1.4 million at auction in 2023. Its deep toning and impeccable strike make it a favorite among connoisseurs. This coin serves as a bridge between the early years of the Draped Bust series and its later designs.
What Makes These Draped Bust $2.5 Coins So Valuable?
Several factors contribute to the sky-high prices these Draped Bust $2.5 coins command:
- Rarity: Low mintages, combined with centuries of attrition, have left few survivors in any grade.
- Condition: Coins in pristine, high-grade condition are exponentially more valuable than those with wear or damage. Survivors in gem condition are exceedingly rare.
- Historical Significance: As relics of a bygone era, these coins carry immense cultural and patriotic value.
- Demand: The enduring popularity of classic U.S. coinage ensures strong competition among collectors, driving up prices.
While stumbling upon a Draped Bust $2.5 coin in everyday life may seem improbable, it’s not entirely out of the question. Estate sales, old collections, and forgotten heirlooms can sometimes yield unexpected surprises. If you come across a small gold coin dated between 1796 and 1807, consider having it appraised—it could be worth thousands—or even millions—of dollars!
