In an unprecedented achievement for numismatics, the 1808 Capped Bust Quarter Eagle recently sold for an astounding $3.4 million at auction, establishing a new benchmark for rare coin sales. Renowned for its exceptional design and unmatched rarity, this coin is one of the most sought-after treasures in U.S. coinage history.
This article uncovers the captivating history of the 1808 Capped Bust Quarter Eagle, detailing its unique design, historical significance, and the factors that contributed to its record-breaking value. We also examine its enduring appeal among collectors and its iconic status in the numismatic world.
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 inscribed “LIBERTY,” encircled by 13 stars |
| Reverse Design | Eagle with an olive branch and arrows, “E PLURIBUS UNUM” above |
| Rarity | Estimated 125–150 surviving examples |
| Grade (Auctioned) | MS65 |
| Auction Price | $3.4 million |
Why the 1808 Capped Bust Quarter Eagle Stands Out
A One-Year Wonder
The 1808 Capped Bust Quarter Eagle had an exceptionally limited production, minted for just one year with a mere 2,710 pieces produced. Its brief minting window, coupled with its distinctive design, makes it one of the rarest coins in American history.
Scarcity of Survivors
Experts estimate that only 125 to 150 examples of this coin exist today. Many were lost, melted down, or heavily worn due to circulation, leaving a scant number of well-preserved specimens. This rarity significantly enhances its desirability and market value.
Artistic Mastery: The Design of the 1808 Quarter Eagle
Obverse: Liberty’s Timeless Elegance
The obverse of the coin features a left-facing Liberty, adorned with a cap inscribed “LIBERTY.” Thirteen stars encircle her, symbolizing the original American colonies, with the mint year “1808” displayed prominently below. This design reflects a classical artistic style that marked an evolution in early 19th-century coinage.
Reverse: A Majestic Eagle
The reverse showcases a detailed eagle clutching an olive branch and arrows, symbolizing peace and readiness for defense. Above the eagle is the Latin motto “E PLURIBUS UNUM” (“Out of many, one”), while the denomination “2 1/2 D” is inscribed below. The eagle’s lifelike depiction exemplifies a shift toward realism in U.S. coin design under John Reich’s artistry.
Historical Significance of the 1808 Quarter Eagle
The early 1800s marked a transformative era in U.S. coinage. The 1808 Capped Bust Quarter Eagle was the last of its denomination minted before a 13-year hiatus, with the next quarter eagle produced in 1821. This gap in production amplifies the coin’s historical importance.
John Reich, the designer, introduced a groundbreaking approach to numismatic art with lifelike representations of Liberty and the eagle, setting a new standard for American coins. The 1808 Quarter Eagle remains a testament to his legacy.
The Record-Breaking Auction: $3.4 Million
In 2024, a pristine example of the 1808 Capped Bust Quarter Eagle, graded MS65 by the Professional Coin Grading Service (PCGS), fetched $3.4 million at auction. This sale underscored the coin’s extraordinary appeal and cemented its place as a numismatic masterpiece.
Why This Coin Commanded Such Value
- Immaculate Preservation: Graded MS65, the coin’s virtually flawless condition is rare for an early 19th-century piece.
- Provenance and Exclusivity: Its well-documented history and extreme rarity added significant value.
- Competitive Bidding: Collectors worldwide competed fiercely to acquire this iconic coin, driving its price to record levels.
Factors Driving Its Value
The astronomical value of the 1808 Capped Bust Quarter Eagle stems from:
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- Rarity: With fewer than 150 surviving examples, it is a collector’s dream.
- Condition: Its MS65 grade signifies exceptional preservation, almost unheard of for its era.
- Historical Context: As the last quarter eagle before a 13-year production break, it holds unique significance.
- Artistic Excellence: John Reich’s innovative design distinguishes it as a masterpiece of U.S. numismatic art.
Auction Milestones of the 1808 Capped Bust Quarter Eagle
| Year | Auction House | Grade | Sale Price |
|---|---|---|---|
| 2015 | Stack’s Bowers | MS65 | $2,350,000 |
| 2020 | Heritage Auctions | MS63 | $517,500 |
| 2024 | Stack’s Bowers | MS65 | $3,400,000 |
Impact on the Numismatic Market
The record-breaking sale of the 1808 Quarter Eagle underscores critical trends in coin collecting:
- Rarity Drives Demand: Collectors are increasingly drawn to coins with unique histories and extreme scarcity.
- Importance of Grading: Coins in top condition consistently achieve premium prices, highlighting the role of professional grading.
- Investment Potential: Rare coins continue to gain recognition as lucrative long-term investments.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable?
Its rarity, historical significance, and exceptional condition make it a highly prized collector’s item.
How many examples are known to exist?
Approximately 125 to 150 examples have survived.
What does an MS65 grade signify?
MS65 denotes a coin in mint condition with minimal imperfections, making it highly desirable.
Who designed the coin?
John Reich, an Assistant Engraver at the U.S. Mint, crafted the coin’s iconic design.
When was the next quarter eagle minted?
The next quarter eagle appeared in 1821, after a 13-year hiatus.
Final Thoughts
The 1808 Capped Bust Quarter Eagle transcends its role as a coin, serving as a window into America’s past. Its $3.4 million sale not only celebrates its artistry and rarity but also underscores its enduring legacy in the numismatic world. Whether you’re a collector or a history enthusiast, this extraordinary piece continues to captivate and inspire.
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