1850-O $2.50

1851-C $2.50

1851 $2.50 (Regular Strike)

Series: Liberty Head $2 1/2 1840-1907

PCGS MS66

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PCGS MS65

PCGS #:: 7759

Designer:: Christian Gobrecht

Edge:: Reeded

Diameter:: 18.00 millimeters

Weight:: 4.18 grams

Mintage:: 1,372,748

Mint:: Philadelphia

Metal:: 90% Gold, 10% Copper

Auction Record:: $28,750 • MS67 • 10-01-2008 • Scotsman

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1851 $2.50

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Rarity and Survival Estimates Learn More

Grades	Survival Estimate The Survival Estimate represents an average of one or more experts' opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.	Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.	Relative Rarity By Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.	Relative Rarity By Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
All Grades	550	R-5.9	112 / 147 TIE	112 / 147 TIE
60 or Better	250	R-6.6	116 / 147 TIE	116 / 147 TIE
65 or Better	5	R-9.7	36 / 147 TIE	36 / 147 TIE

Survival Estimate
All Grades	550
60 or Better	250
65 or Better	5

Numismatic Rarity
All Grades	R-5.9
60 or Better	R-6.6
65 or Better	R-9.7

Relative Rarity By Type All Specs in this Type
All Grades	112 / 147 TIE
60 or Better	116 / 147 TIE
65 or Better	36 / 147 TIE

Relative Rarity By Series All Specs in this Series
All Grades	112 / 147 TIE
60 or Better	116 / 147 TIE
65 or Better	36 / 147 TIE

Condition Census What Is This?

Pos	Grade	Pedigree and History
1	PCGS MS67	"The Louis E. Eliasberg, Sr. Collection," Bowers & Ruddy, October 1982; Star; As NGC MS67. Scotsman, October 2008, Lot 798 - $28,750. As PCGS MS67.
2	PCGS MS66	"The Fairfield Collection," Bowers & Ruddy, October 1977, Lot 1524. As PCGS MS66 #5652480. "The Harry W. Bass, Jr. Collection, Part IV," Bowers & Merena, November 2000, Lot 177; Heritage, February 2015, Lot 3206 - $9,400. Top pop, pop one when offered. Heritage, April 27, 2018, Lot 2018, Lot 5193 - $9,000. Pop one, one finer. discoloration around chin in left obverse field. Discoloration below star 7. On the reverse, dark spot below E of STATES. Diagonal streaks across field above eagle’s head.
3	PCGS MS66	Stack’s Bowers, June 13, 2023, lot 2056 – $9,600. As PCGS MS66 #48953998. "The Oberhaus Collection" (PCGS Set Registry). Horizontal tick to the left of star 12. Two small vertical marks from the top of Liberty’s head to star 7. On the reverse, there is an apparent lightened area under E of STATES. There is a small diagonal tick in this area. Planchet void between bar and 2.
3	PCGS MS65
4	PCGS MS65	As PCGS MS65 #25616094. Stack's Bowers, April 2016, Lot 14029 - $5,640. As PCGS MS65 #81327673. GreatCollections, October 23, 2016, Lot 399779. Tick in the field above the first arrow. Tiny diagonal ticks between the interpunct and the second A of AMERICA.
5	PCGS MS65	Stack’s Bowers, May 9, 2013, Lot 1264 - $5,875. Small circular tick on cheek. Curved scratch between stars 7 and 8. Die crack on bust truncation above 8. Small ticks to the left of stars 12 and 13. On the reverse, a small diagonal hairline scratch from eagle’s head towards second E of STATES. Horizontal scratch below ES. Roller marks across eagle.
5	PCGS MS65
5	PCGS MS65

#1 PCGS MS67

"The Louis E. Eliasberg, Sr. Collection," Bowers & Ruddy, October 1982; Star; As NGC MS67. Scotsman, October 2008, Lot 798 - $28,750. As PCGS MS67.

#2 PCGS MS66

"The Fairfield Collection," Bowers & Ruddy, October 1977, Lot 1524. As PCGS MS66 #5652480. "The Harry W. Bass, Jr. Collection, Part IV," Bowers & Merena, November 2000, Lot 177; Heritage, February 2015, Lot 3206 - $9,400. Top pop, pop one when offered. Heritage, April 27, 2018, Lot 2018, Lot 5193 - $9,000. Pop one, one finer. discoloration around chin in left obverse field. Discoloration below star 7. On the reverse, dark spot below E of STATES. Diagonal streaks across field above eagle’s head.

#3 PCGS MS66

Stack’s Bowers, June 13, 2023, lot 2056 – $9,600. As PCGS MS66 #48953998. "The Oberhaus Collection" (PCGS Set Registry). Horizontal tick to the left of star 12. Two small vertical marks from the top of Liberty’s head to star 7. On the reverse, there is an apparent lightened area under E of STATES. There is a small diagonal tick in this area. Planchet void between bar and 2.

#3 PCGS MS65

#4 PCGS MS65

As PCGS MS65 #25616094. Stack's Bowers, April 2016, Lot 14029 - $5,640. As PCGS MS65 #81327673. GreatCollections, October 23, 2016, Lot 399779. Tick in the field above the first arrow. Tiny diagonal ticks between the interpunct and the second A of AMERICA.

#5 PCGS MS65

Stack’s Bowers, May 9, 2013, Lot 1264 - $5,875. Small circular tick on cheek. Curved scratch between stars 7 and 8. Die crack on bust truncation above 8. Small ticks to the left of stars 12 and 13. On the reverse, a small diagonal hairline scratch from eagle’s head towards second E of STATES. Horizontal scratch below ES. Roller marks across eagle.

#5 PCGS MS65

Charles Morgan:

Gold flowed from the placer mines of California’s western slope into San Francisco and Sacramento, then onto ships heading east. These shipments either crossed the perilous land route of the Isthmus of Panama (the Canal wouldn't be finished until 1914) or sailed around Cape Horn at the tip of South America, a longer but generally safer passage. Most chose the Panama route, shaving months off the trip.

As the massive amounts of California gold poured into eastern metropolitan centers, the Philadelphia Mint dramatically ramped up production across all five gold coin denominations. The mother mint struck over 7.3 million gold coins, totaling over $52 million in value. The largest portion of the year's total output was comprised of the 1851 Liberty Head Double Eagle and the 1851 Liberty Head Quarter Eagle. In fact, the 1,372,748 mintage of the 1851 Liberty Head Quarter Eagle was the highest mintage of any quarter eagle to date and would only be surpassed by the 1853 issue.

Philadelphia Mint Gold Coin Production in 1851

1851 Gold Dollar | Mintage: 41,267
1851 Liberty Head Quarter Eagle | Mintage: 1,372,748
1851 Liberty Head Half Eagle | Mintage: 377,505
1851 Liberty Head Eagle | Mintage: 176,328
1851 Liberty Head Double Eagle | Mintage: 2,087,155

PCGS Market Insights

In his landmark 1975 reference, David Akers called the 1851 "the first Liberty Head Quarter Eagle that can be readily obtained in Choice Uncirculated condition, although well-struck Gems are not all that common." Forty years of PCGS grading largely confirms Akers's observation. Well over 300 Mint State coins likely survive, though Gems (MS65 or finer) constitute only approximately 2% of this population. While Gems are scarce for the other so-called common dates of 1852 and 1853, the 1851 appears to be the toughest of the three dates overall in both Mint State and Gem grades.

The Harry W. Bass, Jr. coin (PCGS MS66 #5652480) stood as the sole finest known 1851 Liberty Head Quarter Eagle from the time it was graded (around 2000) until sometime between 2015 and 2018, when PCGS certified a single MS67 example. Overall, the Mint State population of this coin has remained stable since the 2010s.

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