In a remarkable moment for the world of numismatics, the 1808 Capped Bust Quarter Eagle recently shattered records when it sold for an astonishing $3.4 million at auction. This sale has brought attention to one of the most rare and revered coins in U.S. history, symbolizing both its unique design and historical significance. The 1808 Capped Bust Quarter Eagle remains a prized item for collectors, symbolizing the artistry and heritage of early American coinage.
In this article, we delve into the fascinating history of the 1808 Capped Bust Quarter Eagle, examining its background, design, and the reasons behind its record-setting auction price. We’ll also explore its continued prominence in the numismatic world and why it holds such importance among collectors of rare coins.
Overview of the 1808 Capped Bust Quarter Eagle
| Category | Details |
|---|---|
| Designer | John Reich, Assistant Engraver at the U.S. Mint |
| Mint Year | 1808 |
| Total Mintage | 2,710 coins |
| Obverse Design | Liberty with a cap labeled “LIBERTY,” surrounded by 13 stars |
| Reverse Design | Eagle clutching an olive branch and arrows, with “E PLURIBUS UNUM” above |
| Rarity | Approximately 125–150 surviving examples |
| Grade (Auctioned) | MS65 |
| Auction Price | $3.4 million |
The Unique Allure of the 1808 Capped Bust Quarter Eagle
A One-Year Production
Unlike most coins, which are produced over multiple years, the 1808 Capped Bust Quarter Eagle was minted only in this year, with a total of just 2,710 pieces. This rare one-year production makes it one of the most sought-after coins in U.S. history. Its limited production and distinctive design have led to it being a coveted treasure among numismatists.
A Scarcity of Surviving Examples
It’s believed that only between 125 and 150 examples of the 1808 Capped Bust Quarter Eagle still exist. A significant number of the original coins were lost, melted down, or worn down due to circulation, which further increases the rarity of those that remain in good condition. This scarcity plays a vital role in the coin’s astronomical market value.
Artistic Features of the 1808 Quarter Eagle
The Obverse: Liberty in Classic Elegance
The obverse of the coin depicts Liberty facing left, crowned with a cap inscribed “LIBERTY.” Surrounding her are 13 stars, representing the original American colonies, while the mint year “1808” appears below. The design radiates the classical elegance that was characteristic of early 19th-century American coinage.
The Reverse: A Symbol of Strength and Peace
On the reverse side, the coin features a finely detailed eagle with wings spread, holding an olive branch and arrows in its talons. This imagery represents the nation’s desire for peace and its preparedness for defense. Above the eagle is the Latin phrase “E PLURIBUS UNUM,” meaning “Out of many, one,” accompanied by the denomination “2 1/2 D” below. The more realistic depiction of the eagle marked a departure from the stylized representations of earlier designs, signaling a shift in U.S. coin artistry.
The Historical Context of the 1808 Capped Bust Quarter Eagle
The early 1800s marked a transitional phase for U.S. coinage. The quarter eagle, a $2.50 gold coin, was produced in limited quantities due to a lack of demand. The 1808 Capped Bust Quarter Eagle was the final one minted until 1821, following a 13-year production gap. This hiatus adds to the coin’s historical importance.
Created by Assistant Engraver John Reich, this design reflected a shift in American coinage towards a more lifelike and realistic portrayal of Liberty and the eagle. Reich’s work on the 1808 Capped Bust Quarter Eagle is widely regarded as a pivotal moment in the evolution of U.S. coin design.
The Historic $3.4 Million Auction Sale
In 2024, a pristine example of the 1808 Capped Bust Quarter Eagle was sold for a record-breaking $3.4 million at a leading auction house. Graded MS65 by the Professional Coin Grading Service (PCGS), this coin’s impeccable condition was a key factor in reaching such a remarkable price.
What Made This Coin Stand Out?
- Outstanding Condition: Coins from this era rarely survive in such pristine form. The MS65 grade indicates a virtually flawless coin, with exceptional detail and luster.
- Provenance and Rarity: The coin’s documented history and its status as one of the few remaining examples significantly added to its value.
- Strong Demand: Bidders from all over the world vied for this coin, pushing its price to unprecedented levels.
What Contributes to the Value of the 1808 Quarter Eagle?
The value of the 1808 Capped Bust Quarter Eagle is driven by several factors, including:
- Rarity: With only around 125–150 known surviving examples, the coin is a true rarity.
- Condition: The MS65 grade signifies an exceptionally well-preserved coin, making it highly desirable for collectors.
- Historical Significance: As the last quarter eagle minted before a 13-year hiatus, it holds a unique position in the history of U.S. coinage.
- Artistic Achievement: The design by John Reich is considered a milestone in American numismatic art, marking the transition to more realistic depictions of Liberty and the eagle.
Auction History of the 1808 Capped Bust Quarter Eagle
The table below highlights how the auction prices for this rare coin have evolved over the years:
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| 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 |
Impact on the Numismatic Market
The record-breaking sale of the 1808 Capped Bust Quarter Eagle for $3.4 million highlights several important trends in the numismatic market:
- Ongoing Interest in Rare Coins: Collectors continue to show strong interest in coins with historical significance and rarity.
- Importance of Grading: Coins that are well-preserved and graded by professionals are more likely to achieve premium prices.
- Coin Investment Growth: Rare coins are increasingly seen as valuable investments, offering the potential for long-term appreciation.
This landmark sale sets a new precedent for historic coins, emphasizing the importance of rarity and condition in determining their market value.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable?
Its value comes from its rarity, historical significance, and pristine condition, making it a highly sought-after piece for collectors.
How many 1808 Capped Bust Quarter Eagles are known to exist?
It’s estimated that only 125 to 150 examples of this coin are still in existence.
What does the MS65 grade mean?
An MS65 grade indicates that the coin is in mint state with minimal imperfections, making it highly desirable for collectors.
Who designed the 1808 Capped Bust Quarter Eagle?
The coin was designed by John Reich, who introduced a more lifelike and realistic style in the depiction of Liberty and the eagle.
When was the next quarter eagle minted after 1808?
Production of the quarter eagle resumed in 1821, following a 13-year hiatus.
Final Thoughts
The 1808 Capped Bust Quarter Eagle is more than just a coin—it is a remarkable historical artifact that reflects the early years of the United States. The $3.4 million sale reaffirms its place as one of the most iconic pieces in numismatics. Whether you’re a dedicated collector or fascinated by history, this coin provides a glimpse into the artistry and value of rare American coins.