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Early History and Mintages
On April 2, 1792, the U.S. government established the Philadelphia Mint, which was the first federal building constructed under the Constitution. The mint began producing copper coinage in 1793, but didn't produce gold coins until two years later. The mint released the inaugural batch of 744 $5 pieces on July 31, 1795. The initial mintage of 1,097 $10 coins came later that year, on September 22. In 1796, the mint began producing $2.50 coins as well.
Draped Bust $2.50
Also known as a "quarter eagle," mintage of this coin during the 18th century occurred from 1796 to 1798. Like the other gold coins from this era, the $2.50 coin features two different types. The Type 1, only minted in 1796, has no stars around the draped bust design on the obverse of the coin. The Type 2 features two different varieties from the 1798 mintage: a wide date and a close date.
Draped Bust $5
The mint created several different varieties of this 18th century coin, but there are still just two types. The differentiating factor between types is the eagle on the reverse. A Type 1 features the Small Eagle, and a Type 2 features the larger Heraldic Eagle. Both types were minted from 1795 to 1798, but the 1799 mintage features only the Heraldic Eagle. Each year features different varieties of each coin, with minute differences in the number of stars and over-strikes on the design.
Draped Bust $10
From 1795 to 1797, the mint created $10 gold pieces with only the Type 1 Small Eagle design. In 1797, the mint switched to the Type 2 Heraldic Eagle design. Variations in the Type 1 differ with the number of leaves in the olive branch in the eagle's claw. Type 2 variations are more diverse, with differentiations in the size and placement of the stars on the obverse of the coin.