1845 Liberty Head Quarter Eagle : A Collector's Guide (2024)

ByCharles MorganandHubert WalkerforCoinWeek Notes…..

Liberty Head Quarter Eagles were struck at three mints in 1845. The Philadelphia Mint produced the most with 91,051 pieces, while the Charlotte Mint struck 19,460 (a big number for the North Carolina facility), and the New Orleans Mint issued just 4,000.

The Philadelphia Mint continued to use multiple reverse dies beyond their expected service life, resulting in coins with obvious die cracks. One spectacularly shattered die features cracks that meet at the arrow fletching from four different points at the rim (see image above). This is not the only configuration of reverse die cracks found in this issue. Auction catalogers typically mention the presence of these features in passing.

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Market Data and Noteworthy Specimens

While the mintage of this issue is sizable for the period, it is by no means a type coin. Readily available in Mint State, it is rare in MS64 and above. In 2006, NGC and PCGS combined had graded just 15 coins at MS64 with one finer. As of July 18, 2024, the combined population at MS64 stands at 14 with one finer. This is a remarkable degree of stability for the condition census of a United States coin.

We consider this issue to be undervalued at current market levels.

Top Population: PCGS MS64 (7, 7/2024), NGC MS65 (1, 7/2024), and CAC MS64 (3:0 stickered:graded, 7/2024).

• NGC MS65 #956117-004: Goldberg Auctioneers, June 2002, Lot 3493 – $8,913; “The C.L. Lee Sale,” American Numismatic Rarities, September 18, 2005, Lot 1093 – $9,545; Heritage Auctions, December 2005, Lot 1111; Heritage Auctions, February 2006, Lot 2614; Heritage Auctions, April 7, 2006, Lot 1610 – $14,380.75; Heritage Auctions, January 10, 2014, Lot 6433 – $18,800; Heritage Auctions, October 9, 2014, Lot 4960 – $14,100. Obverse die crack from star 3 to 6. Ticks to the right of Liberty’s bun. Ticks to the left of star 13. Reverse die crack from 1 o’co*ck to eagle’s neck and from 7 o’clock to eagle’s talon.

• NGC MS64 CAC #388674-002: Heritage Auctions, October, 9, 2014, Lot 4959 – $7,050; David Lawrence Rare Coins, June 19, 2022, Lot 707793 – $13,250; Legend Rare Coin Auctions, October 20, 2022, Lot 154 – Passed; Heritage Auctions, January 13, 2023, Lot 4065 – $11,100. Diagonal rolling marks across face. Planchet flaw to the left of 1. Weakness on the eagle’s right leg. Crack from rim through I of UNITED to eagle’s leg.
• PCGS MS64 #05253631: Heritage Auctions, April 27, 2006, Lot 2367 – $8,050; Heritage Auctions, May 11, 2007, Lot 3338 – $8,050. Shattered reverse die.
• PCGS MS64 #05990615: Heritage Auctions, July 10, 2009, Lot 1307 – $6,957.50. Shattered reverse die.
• NGC MS64 #356156-002: Heritage Auctions, January 5, 2007, Lot 5400 – $5,750. Shattered reverse die.
• PCGS MS64 #1750573-002: Heritage Auctions, May 7, 2004, Lot 9095 – $6,325. Thin horizontal scratches in the left field.

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Design

Obverse:

Liberty is in the center of the obverse, facing left. Her hair is bundled at the back with a string of beads, though a couple of hair strands fall down the neck. Across the top of the head is a coronet inscribed with the word LIBERTY. Thirteen six-pointed stars surround Liberty inside the denticulated rim, with the date centered at the bottom.

Reverse:

The reverse is dominated by a centered left-facing eagle, wings outstretched nearly to the denticles, body covered by a Union shield. The eagle holds an olive branch in the dexter claw (left to the observer) and three arrows in the sinister claw; fletching is visible for only two of the arrows. Surrounding the eagle is the legend UNITED STATES OF AMERICA inside the denticulated rim, the text separated into three parts by the eagle’s wing tips. The denomination of 2 1/2 D. is at the bottom, separated from UNITED and AMERICA by centered dots. Liberty Head Quarter Eagles were minted at Philadelphia, Charlotte, Dahlonega, New Orleans, and San Francisco; C, D, O, and S mintmarks are located above the denomination and below the eagle, somewhat overlapping the branch and the arrow fletching.

Edge:

The edge of the Liberty Head Quarter Eagle is reeded, a common anti-counterfeiting measure.

1845 Liberty Head Quarter Eagle Coin Specifications

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