The original patent above, as well as Owen's top, has a shaft that connects the tip with the cap on the crown, transmitting the force of the ground strike.
But I found three other explosive cap peg top patents.
US Pat 282,129 By John H. Sunderman, from Quincy, Illinois, July 31, 1883:
I don't think this would work well as it depends on the little inertia of the plate on the crown. So the same guy applied for another patent a few months later, US Pat 287,591:
Here he put the cap towards the bottom of the top. I think this was done to sidestep Beneke's patent (he mentioned it on the other patent, so he is aware of it), but it's more difficult to manufacture, in my opinion.
A few years later, June 12, 1894, John U. Barr from Pennsylvania got patent 521,148:
To place the cap the tip is removed. There are venting holes.