In a groundbreaking moment for numismatics, the 1808 Capped Bust Quarter Eagle has broken auction records, selling for a remarkable $3.4 million. This historic sale not only sets a new high for rare U.S. coins but also highlights the enduring allure of one of the nation’s most coveted and scarce coin designs. Known for its distinctive look and extreme rarity, the 1808 Capped Bust Quarter Eagle remains a prized treasure in the world of numismatics.
This article takes a closer look at the story behind the 1808 Capped Bust Quarter Eagle, exploring its historical significance, its iconic design, and the factors that contributed to its record-breaking sale. We also examine its lasting legacy in coin collecting and why it continues to captivate collectors and historians alike.
A Glimpse at the 1808 Capped Bust Quarter Eagle
| Category | Details |
|---|---|
| Designer | John Reich, U.S. Mint Assistant Engraver |
| Mint Year | 1808 |
| Total Mintage | 2,710 coins |
| Obverse Design | Liberty with “LIBERTY” cap and 13 stars surrounding |
| Reverse Design | Eagle holding olive branch and arrows, “E PLURIBUS UNUM” above |
| Rarity | Approximately 125–150 surviving examples |
| Auction Price | $3.4 million |
| Grade (Auctioned) | MS65 |
Why the 1808 Capped Bust Quarter Eagle Stands Out
One-Year Minting The 1808 Capped Bust Quarter Eagle was only produced in 1808, making it a one-year issue. With just 2,710 coins minted, its rarity is unmatched, and the coin has become a key piece for serious collectors. The limited production and exclusive design make it highly sought after by numismatists worldwide.
Scarcity of Surviving Examples It’s estimated that only 125 to 150 of these coins remain today. Many of the original coins were lost, destroyed, or worn down through circulation, leaving a very limited number of well-preserved examples. This extreme rarity is a key reason for the coin’s astronomical auction value.
Artistic Design of the 1808 Capped Bust Quarter Eagle
The Obverse: A Classic Representation of Liberty On the obverse, the coin features a left-facing Liberty with a cap inscribed with the word “LIBERTY.” Surrounding her are 13 stars representing the original American colonies, and the mint year “1808” is inscribed beneath her image. The classical elegance of the design reflects the artistic style of the early 1800s.
The Reverse: A Powerful Symbol of National Strength The reverse showcases a detailed eagle with its wings spread wide, clutching an olive branch and arrows. This symbolizes both the nation’s desire for peace and its readiness for defense. The Latin motto “E PLURIBUS UNUM” (Out of Many, One) appears above the eagle, while the denomination of “2 1/2 D” is displayed below. This design marked a departure from earlier, more abstract representations, heralding a new era of American coin design.
Historical Context of the 1808 Capped Bust Quarter Eagle
The early 1800s marked a time of transition for U.S. coinage. The production of quarter eagles—a $2.50 gold coin—was limited due to low demand. The 1808 Capped Bust Quarter Eagle was the last quarter eagle minted until 1821, with production halted for 13 years. This gap only enhances its historical importance.
The coin was designed by John Reich, who was the Assistant Engraver at the U.S. Mint. Reich introduced a more realistic style in the depiction of Liberty and the eagle, moving away from earlier, more stylized representations. His work on the 1808 Capped Bust Quarter Eagle is celebrated as a breakthrough in American numismatic art.
The $3.4 Million Sale of the 1808 Capped Bust Quarter Eagle
In 2024, a pristine MS65 example of the 1808 Capped Bust Quarter Eagle set a new auction record, fetching a stunning $3.4 million. Its excellent condition, as graded by the Professional Coin Grading Service (PCGS), was crucial to its extraordinary sale price.
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What Made This Coin Stand Out?
- Flawless Preservation: Coins from the early 19th century rarely survive in mint condition, and the MS65 grade indicates that this coin is nearly perfect, with outstanding detail and luster.
- Historical Provenance: The coin’s well-documented history and its status as one of the few surviving examples made it incredibly valuable to collectors.
- Global Interest: The significance of the coin attracted intense bidding from collectors around the world, driving the price to new heights.
Factors Behind the 1808 Quarter Eagle’s High Value
The $3.4 million sale price of the 1808 Capped Bust Quarter Eagle was influenced by several factors:
- Rarity: With only about 150 known surviving examples, the coin’s scarcity makes it a rare find.
- Condition: The MS65 grade signifies a coin in exceptional condition, which is a significant factor in its desirability.
- Historical Importance: As the last quarter eagle before a 13-year gap in production, the coin occupies a unique position in U.S. coinage history.
- Artistic Merit: The innovative design by John Reich sets this coin apart as a masterpiece of early American coinage.
Auction History and Trends of the 1808 Capped Bust Quarter Eagle
The value of the 1808 Capped Bust Quarter Eagle has increased steadily over the years, as shown in the table below:
| Year | Auction House | Grade | Sale Price |
|---|---|---|---|
| 2015 | Stack’s Bowers | MS65 | $2,350,000 |
| 2020 | Heritage Auctions | MS63 | $517,500 |
| 2024 | Stack’s Bowers | AU53 | $156,000 |
| 2024 | Heritage Auctions | AU53 | $156,000 |
| 2024 | Stack’s Bowers | MS65 | $3,400,000 |
The Impact of the Record-Breaking Sale
The $3.4 million auction of the 1808 Capped Bust Quarter Eagle highlights several key trends in the numismatic market:
- Continued Demand for Rare Coins: Collectors remain eager to invest in coins with historical significance and rarity.
- Importance of Professional Grading: High-grade coins consistently command premium prices, demonstrating the value of expert coin grading.
- Rising Investment in Coins: Rare coins are increasingly seen as valuable investments, with the potential for long-term appreciation.
This historic sale sets a new benchmark for other rare coins, further reinforcing the role of rarity and condition in determining their market value.
Frequently Asked Questions
- Why is the 1808 Capped Bust Quarter Eagle so valuable? The coin’s rarity, historical significance, and flawless condition make it a highly coveted item for collectors.
- How many 1808 Capped Bust Quarter Eagles remain today? Only around 125 to 150 examples of this coin are known to exist, making it extremely rare.
- What does the MS65 grade indicate? MS65 signifies a coin in mint state with minimal imperfections, making it a highly desirable piece for collectors.
- Who designed the 1808 Capped Bust Quarter Eagle? The coin was designed by John Reich, who introduced a more lifelike representation of Liberty and the eagle.
- When was the next quarter eagle minted after 1808? The next quarter eagle was struck in 1821, after a 13-year hiatus in production.
Final Thoughts
The 1808 Capped Bust Quarter Eagle is not just a coin; it’s a priceless piece of American history. Its record-breaking $3.4 million sale confirms its place as a numismatic treasure. Whether you’re an avid collector or simply fascinated by historical artifacts, this coin offers a unique glimpse into the artistry and significance of rare American coins.
What are your thoughts on this remarkable piece of history? Feel free to share your opinions or explore more stories about rare and fascinating coins!