In a groundbreaking moment for numismatics, the 1808 Capped Bust Quarter Eagle has set a new auction record by fetching an incredible $3.4 million. This sale highlights one of the rarest and most coveted coins in U.S. history, offering a glimpse into its remarkable design and the factors that have contributed to its astronomical value. This article explores the history, design, and significance of the 1808 Capped Bust Quarter Eagle, as well as why it remains a prized possession for collectors and a symbol of America’s early numismatic heritage.
A Closer Look 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 cap inscribed “LIBERTY” surrounded by 13 stars
Reverse Design
Eagle holding an olive branch and arrows, with “E PLURIBUS UNUM” above
Rarity
Estimated 125–150 surviving examples
Auction Price
$3.4 million
What Makes the 1808 Capped Bust Quarter Eagle So Unique?
A One-Year Production Coin
Unlike most coins, the 1808 Capped Bust Quarter Eagle was minted for just one year, with only 2,710 pieces produced. This extremely limited production makes it one of the rarest U.S. coins. Its rarity, coupled with its distinctive design, has made it an iconic piece for numismatists and collectors worldwide.
A Rare Survivor
It’s estimated that only around 125 to 150 examples of the 1808 Capped Bust Quarter Eagle remain in existence. The coin’s scarcity is primarily due to many being lost, melted down, or heavily worn through circulation. As a result, only a small number of well-preserved specimens are available today, significantly enhancing its value.
Three Major Coin Errors That Could Make Your Coins Worth a Fortune
Rare coins are often valuable due to significant errors in their production, and the 1808 Quarter Eagle’s rarity adds to its allure.
Artistic Features of the 1808 Quarter Eagle
Obverse: Liberty, A Timeless Icon
The obverse of the 1808 Capped Bust Quarter Eagle features a left-facing Liberty, her cap inscribed with the word “LIBERTY.” Surrounding her are 13 stars, symbolizing the original colonies, and the year “1808” is displayed beneath. This design captures the spirit of early American coinage and reflects a shift toward a more classical and elegant aesthetic.
The reverse of the coin showcases a dynamic eagle with outstretched wings, clutching both an olive branch and arrows in its talons. The olive branch symbolizes peace, while the arrows represent readiness for defense. Above the eagle are the words “E PLURIBUS UNUM” (“Out of many, one”), and the coin’s denomination, “2 1/2 D,” is inscribed below. The eagle’s lifelike depiction marked a departure from earlier stylized designs, and set a new standard for U.S. coinage artistry.
The Historical Context of the 1808 Capped Bust Quarter Eagle
The early 1800s represented a transformative period in American coinage. During this time, the production of the $2.50 quarter eagle was minimal due to low demand, and the 1808 Capped Bust Quarter Eagle was the final coin of this denomination minted until 1821, after a 13-year hiatus. This gap in production contributes to the coin’s historical importance.
Additionally, John Reich’s design on the 1808 Capped Bust Quarter Eagle marked a turning point in American numismatic art. Reich moved away from the abstract designs of earlier coins, opting instead for a more realistic and lifelike portrayal of Liberty and the eagle.
In 2024, a pristine example of the 1808 Capped Bust Quarter Eagle was sold at auction for an astounding $3.4 million. The coin, graded MS65 by the Professional Coin Grading Service (PCGS), played a key role in achieving this record-breaking sale. The coin’s impeccable preservation and extraordinary rarity made it one of the most highly sought-after items at auction.
What Made This Coin Stand Out?
Immaculate Condition: Coins from the early 19th century are rarely found in such pristine condition. The MS65 grade indicates that this particular example is nearly flawless, with sharp details and exceptional luster.
Provenance and Rarity: With only a limited number of surviving examples, the coin’s documented history significantly increased its value.
Global Demand: Bidders from around the world competed fiercely for the coin, underscoring its immense value to collectors and investors alike.
Factors Driving the Value of the 1808 Quarter Eagle
Several key factors contribute to the extraordinary price of the 1808 Capped Bust Quarter Eagle:
Rarity: Only about 125 to 150 examples exist, making it a rare and highly prized collector’s item.
Condition: The MS65 grade is considered exceptional for a coin of this era, making it particularly desirable.
Historical Significance: The coin holds a special place in U.S. coinage history, as the last quarter eagle minted before a long production hiatus.
Artistic Excellence: The detailed design by John Reich represents a milestone in American coin artistry.
Auction History of the 1808 Capped Bust Quarter Eagle
The table below highlights how the value of the 1808 Capped Bust Quarter Eagle has evolved over time, showing a steady increase in its worth as a rare and coveted item:
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 has had a profound effect on the numismatic market, emphasizing several trends:
Continued Interest in Rare Coins: The demand for historically significant and rare coins remains strong among collectors.
Importance of Professional Grading: High-quality coins, particularly those graded by professional services, fetch premium prices at auction.
Increased Coin Investment: Rare coins are increasingly seen as valuable assets for long-term investment, highlighting their potential for growth in value.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable? Its value is driven by its rarity, historical significance, and exceptional condition, making it a highly coveted piece for collectors.
How many 1808 Capped Bust Quarter Eagles exist today? It is believed that only around 125 to 150 examples remain, making it an exceedingly rare coin.
What does the MS65 grade mean? An MS65 grade signifies that the coin is in near-perfect condition, with minimal imperfections and excellent preservation.
Who designed the 1808 Capped Bust Quarter Eagle? The coin was designed by John Reich, a U.S. Mint engraver known for his lifelike and realistic designs.
When was the next quarter eagle minted after 1808? The next quarter eagle was not minted until 1821, following a 13-year pause in production.
Conclusion
The 1808 Capped Bust Quarter Eagle is much more than a coin—it’s a rare artifact that encapsulates a key moment in America’s early history. Its record-breaking sale for $3.4 million reaffirms its status as one of the most important treasures in the world of numismatics. For collectors and history enthusiasts alike, this coin represents a rare opportunity to own a piece of America’s numismatic legacy.