I am a little rusty on what it means but knew at one point. I believe it was a popular symbol for freedom and or liberty which would make sense...I am not completely sure though.
The "fashion" stayed in style, you know. That cap went back on Liberty's head for the Capped Bust silvers, and then back on the pole for the Seated Liberty coinage, which takes us from the 1790's all the way to the 1890's.
It's on Liberty's head on the Morgan dollar which brings it up to 1921. Then we see it (with wings) on the dime from 1916 to 1945 ad on the half to 1947. Then it disappears until it shows up again on the ASE which brings it up to the current day.
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