In an exceptional turn of events in the world of numismatics, the 1808 Capped Bust Quarter Eagle recently sold for an eye-watering $3.4 million, setting a new record at auction. This remarkable sale highlights one of the most elusive and highly sought-after coins in U.S. history. With its distinct design and unparalleled rarity, the 1808 Capped Bust Quarter Eagle continues to be a cherished collector’s item and an important symbol in American coinage.
In this article, we delve into the history, design, and reasons behind this record-breaking sale, shedding light on why the 1808 Capped Bust Quarter Eagle is such a coveted piece in the numismatic world.
The 1808 Capped Bust Quarter Eagle: A Unique Treasure
| 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 marked “LIBERTY,” surrounded by 13 stars |
| Reverse Design | Eagle clutching an olive branch and arrows, with “E PLURIBUS UNUM” above |
| Rarity | Estimated 125–150 surviving examples |
| Auction Grade | MS65 |
| Auction Price | $3.4 million |
Why is the 1808 Capped Bust Quarter Eagle So Coveted?
One-Year Production Run
What makes the 1808 Capped Bust Quarter Eagle particularly special is its one-year-only production. Only 2,710 coins were minted, marking it as one of the rarest coins in the history of U.S. coinage. The coin’s limited production and unique design only add to its allure, making it a highly desirable item for collectors.
A Rare Survivor
With only an estimated 125 to 150 examples still in existence, this coin is a true rarity. Many of the original coins were either lost, melted down, or worn out through circulation, leaving a small number of pristine specimens. The coin’s rarity significantly boosts its market value.
Artistic Design of the 1808 Quarter Eagle
Obverse: The Symbol of Liberty
The obverse features a left-facing Liberty, wearing a cap inscribed with the word “LIBERTY.” Around her are 13 stars representing the original colonies, and the mint year “1808” is prominently displayed beneath. The design is a classic reflection of early 19th-century American art.
Reverse: The Eagle in Majestic Flight
The reverse displays a detailed eagle with outstretched wings, clutching an olive branch and arrows, symbolizing peace and readiness for defense. Above the eagle is the motto “E PLURIBUS UNUM,” meaning “Out of many, one.” Below the eagle is the denomination, “2 1/2 D.” This design, more lifelike than previous stylized versions, marks a new era in American coinage artistry.
Historical Context: The Story Behind the 1808 Quarter Eagle
The early 1800s were a transitional period in U.S. coin production. At this time, the quarter eagle (a $2.50 gold coin) was minted in limited numbers due to relatively low demand. The 1808 Capped Bust Quarter Eagle holds additional historical importance as it was the last quarter eagle struck until 1821, after a 13-year gap. This long hiatus only adds to the coin’s rarity and significance.
John Reich, the coin’s designer, is credited with introducing a more lifelike depiction of Liberty and the eagle, marking a departure from the more abstract designs used in earlier coinage. His work on the 1808 Capped Bust Quarter Eagle is regarded as a defining moment in the history of U.S. coin design.
Record-Breaking Auction: A $3.4 Million Sale
In 2024, a pristine MS65 example of the 1808 Capped Bust Quarter Eagle set a new record when it sold for $3.4 million at a prominent numismatic auction. The coin’s remarkable condition was a major factor in achieving this price, with the MS65 grade indicating exceptional detail and luster.
What Made This Coin So Valuable?
Immaculate Condition: Coins from this era rarely survive in such flawless condition. The MS65 grade indicates that this coin is nearly perfect, with minimal imperfections, making it an extraordinary find for collectors.
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Provenance and Rarity: The coin’s well-documented history and its status as one of the very few surviving examples contributed to its exceptional value.
Global Demand: Bidders from across the globe were keen to acquire such a rare and significant piece of American history, driving the price to new heights.
Why is the 1808 Capped Bust Quarter Eagle So Valuable?
Several factors contribute to the coin’s astronomical price tag:
- Rarity: With only around 150 surviving examples, the coin is an extremely rare and desirable item for collectors.
- Condition: The MS65 grade reflects near-perfect preservation, which is a rare find for coins of this era.
- Historical Significance: As the last quarter eagle minted before a 13-year production break, the coin has a unique place in U.S. coinage history.
- Artistic Merit: The lifelike designs created by John Reich make this coin a standout masterpiece in American numismatic art.
Auction History of the 1808 Capped Bust Quarter Eagle
The table below tracks how the value of the 1808 Capped Bust Quarter Eagle has evolved over the years, illustrating its rise in value as a coveted collector’s 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 for $3.4 million reflects several important trends in the numismatic market:
- Growing Interest in Rare Coins: Collectors continue to show strong demand for coins with historical significance and rarity.
- The Importance of Grading: High-quality coins with expert grading consistently achieve higher prices, emphasizing the role of professional coin evaluation.
- Investment Potential: Rare coins, particularly those with historical importance, are increasingly seen as valuable assets with potential for long-term appreciation.
This landmark auction sets a new benchmark for rare coins, underscoring the significance of rarity and condition in determining their market value.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable? The coin is valuable because of its rarity, historical importance, and pristine condition, which make it an extremely desirable piece for collectors.
How many 1808 Capped Bust Quarter Eagles still exist? It is estimated that between 125 and 150 examples of this coin survive, further enhancing its exclusivity.
What does the MS65 grade mean? An MS65 grade signifies that the coin is in mint state, with only minor imperfections—making it highly sought after by collectors.
Who designed the 1808 Capped Bust Quarter Eagle? John Reich, the Assistant Engraver at the U.S. Mint, designed this coin, introducing a more realistic approach to depicting Liberty and the eagle.
When was the next quarter eagle minted after 1808? Production of the quarter eagle resumed in 1821, after a 13-year hiatus.
Final Thoughts
The 1808 Capped Bust Quarter Eagle is much more than a coin—it’s a piece of history. The record-setting $3.4 million sale solidifies its place as a numismatic treasure. Whether you’re a dedicated collector or simply intrigued by history, this coin offers a glimpse into the artistry, heritage, and value of rare American coins.
What are your thoughts on this remarkable coin? Share your views in the comments or explore more fascinating stories about rare and valuable coins!