1798 Close Date

The 1798 Close Date quarter eagle marks the first appearance of the Heraldic Eagle reverse on the denomination, ending the brief two-year run of the Small Eagle design used for 1796 and 1797. Philadelphia paired the new reverse with Robert Scot's continuing Draped Bust obverse and produced a combined 1,094 pieces split between two date logotype subtypes, of which the Close Date is the variety with the four numerals punched in tighter proximity. The Heraldic Eagle hub introduced here would carry the quarter eagle through the balance of the Draped Bust series and establish the reverse template inherited by the Capped Bust gold of 1808. Survival is thin; modern census work places the Close Date population at roughly 15 to 25 examples across all grades, with most surviving in well-worn condition.

Authentication starts with the reverse identification. The 1798 carries the Heraldic Eagle (shield on breast, arrows and olive branch in the talons, banner overhead, stars above), and any 1798 offered with the Small Eagle perched-in-wreath design is either misattributed or counterfeit. Date examination separates Close from Wide. Under 5x to 10x magnification the four digits of the Close Date sit closer together with tighter intervening spacing than the sister variety; reference plates in standard early gold catalogs document the exact spacing differential and should be consulted before any premium attribution. Specifications confirm the rest: 4.37 grams on a 20 mm planchet of 0.9167 fine gold, a fully reeded edge, and coin alignment with the reverse rotated 180 degrees from the obverse.

Auction frequency reflects the low survival figure. Well-circulated examples in Good through Fine grades cross at $20,000 to $40,000 when offered, Very Fine pieces bring $50,000 to $80,000, and the rare Extremely Fine or better example can reach into six figures at Heritage and Stack's Bowers sales. Certified attribution from PCGS or NGC is essential because the premium spread between Close and Wide Date is substantial and raw coins are routinely misattributed. Acquisition typically requires patience across multiple auction cycles; the issue is best pursued through major-house catalog sales rather than dealer inventory, and date-set collectors of Draped Bust quarter eagles often source the Close Date and Wide Date as a paired effort. See the full Draped Bust Quarter Eagle series history.