In a groundbreaking event for the world of numismatics, the 1808 Capped Bust Quarter Eagle recently fetched an astonishing $3.4 million at auction, setting a new benchmark for rare coin sales. This remarkable transaction highlights the immense value and historical significance of one of the most sought-after coins in U.S. history.
The 1808 Capped Bust Quarter Eagle: An Overview
Designer: John Reich, Assistant Engraver at the U.S. Mint
Mint Year: 1808
Total Mintage: 2,710 coins
Obverse Design: Liberty with a cap inscribed “LIBERTY,” encircled by 13 stars
Reverse Design: An eagle clutching an olive branch and arrows, with “E PLURIBUS UNUM” above
Rarity: Estimated 125–150 surviving pieces
Grade (Auctioned): MS65
Auction Price: $3.4 million
What Makes the 1808 Capped Bust Quarter Eagle Special?
Limited Production Run
The coin’s rarity is rooted in its single-year production, with only 2,710 minted in 1808. This limited run makes it a standout piece in the annals of American coinage, fueling demand from collectors worldwide.
Scarcity and Survival
Of the original mintage, only around 125 to 150 coins are believed to exist today. Many were lost, melted, or worn down through circulation, making well-preserved examples like the MS65-graded coin exceptionally rare and valuable.
Artistic and Historical Significance
Obverse Design: Iconic Liberty
The obverse features Liberty facing left, donning a cap marked “LIBERTY,” surrounded by 13 stars representing the original colonies. The year “1808” is displayed below, showcasing early 19th-century artistic elegance.
Reverse Design: Majestic Eagle
The reverse presents a lifelike eagle with outstretched wings, grasping an olive branch and arrows, symbolizing peace and readiness for defense. The motto “E PLURIBUS UNUM” is inscribed above, with the denomination “2 1/2 D” below.
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Historical Context
Minted during a transformative period for U.S. coinage, the 1808 Quarter Eagle was the last of its kind until production resumed in 1821. Designed by John Reich, this coin marked a shift towards more realistic depictions in American currency.
The Record-Breaking Auction
In 2024, an impeccably preserved 1808 Capped Bust Quarter Eagle sold for $3.4 million, earning its place in the record books. Graded MS65 by PCGS, its flawless condition, documented provenance, and rarity drove fierce bidding and an unprecedented final price.
Key Factors Behind the Value
- Rarity: Less than 150 known examples.
- Condition: MS65 grade signifies near-flawless preservation.
- Historical Importance: Final Quarter Eagle before a 13-year production gap.
- Artistic Merit: John Reich’s groundbreaking design.
Auction Price Evolution
| 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 |
Numismatic Market Impact
The $3.4 million sale underscores the growing interest in rare coins, the significance of coin grading, and the rising trend of coin investment.
Frequently Asked Questions
- Why is the 1808 Quarter Eagle so valuable? Rarity, historical significance, and impeccable condition contribute to its high value.
- How many exist today? Approximately 125 to 150.
- What does MS65 mean? Mint State 65 indicates a coin with minimal imperfections.
- Who designed it? John Reich, known for realistic coin designs.
- When was the next quarter eagle minted? In 1821, after a 13-year hiatus.
Conclusion
The 1808 Capped Bust Quarter Eagle is not just a coin but a piece of American history, celebrated for its rarity, artistry, and historical context. Its recent $3.4 million sale highlights its enduring allure and importance in the numismatic world.