To remedy the untenable situation of melting and exporting, Congress passed the Act of June 24, 1834, which reduced the authorized weight of American gold coins. Issues made after August 1, 1834 were of lighter weight and thus stayed in circulation. To differentiate the pieces, the obverse and reverse designs were modified, and the motto E PLURIBUS UNUM was deleted from the reverse. A perusal of old-time financial publications, such as Niles Register, an early-day equivalent of The Wall Street Journal, reveals that gold coins minted prior to August 1, 1834 (the date in which the change took place) were described as "old tenor" issues and traded above face value by bullion dealers, while later pieces sold at par. During the 1830s, and continuing through the Civil War, bullion traders, securities houses, and bankers did an active business in buying and selling gold and silver coins by weight.

As noted, quarter eagles produced after August 1, 1834 lacked the motto E PLURIBUS UNUM on the reverse to immediately distinguish them from the earlier issues, and were stylistically different in other ways as well. Known as the Classic Head type, quarter eagles of this style were produced continuously through 1839. There are no famous rarities among Classic Head quarter eagles, although the 1838-C, with its low mintage of 7,880 pieces, must be counted as elusive, especially as contrasted to the most prolific issue of the era, the 1836 Philadelphia Mint quarter eagle which posted a production of 547,986.

Budget Recommendations: No recommendations here, as low-grade gold coins are apt to be quite unattractive. Besides, all early quarter eagles are rarities. Consider what I have to say under the following listing.

Recommendations for the Connoisseur: There are two basic ways to go: 1. Build a type set consisting of the basic issues: 1796 without stars, 1796-1807, 1808, 1821-1834, and 1834-1839. I recommend EF or better. MS-60 to MS-63 coins are especially attractive but are expensive and for some issues (specifically 1808) are nearly impossible to find. 2. Build a date and major variety set in EF-40 or better grade. This forms a truly beautiful exhibit and contains no impossible rarities, although some will be very difficult to find (recall what I had to say about the 1804 with 13 stars on the reverse).

Elite Recommendations: As preceding, but in higher grades.