In a groundbreaking moment for the numismatic world, the 1808 Capped Bust Quarter Eagle recently set a new record when it sold for an astonishing $3.4 million at auction. This incredible sale highlights one of the rarest and most coveted coins in U.S. history, drawing attention to its unique design and unmatched rarity. The 1808 Capped Bust Quarter Eagle remains a highly prized gem among collectors and a symbol of early American coinage’s historical significance.
This article takes a closer look at the history, design, and factors behind the remarkable sale of the 1808 Capped Bust Quarter Eagle. We’ll also explore why this coin continues to be an icon among rare coin enthusiasts.
Understanding 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 wearing a cap inscribed “LIBERTY,” surrounded by 13 stars |
| Reverse Design | An eagle clutching an olive branch and arrows, with “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 is So Special
A One-Year Production Coin
Unlike most coins that were minted over several years, the 1808 Capped Bust Quarter Eagle had a single-year production run. Only 2,710 coins were struck, making it one of the rarest coins in U.S. history. This limited mintage, combined with its unique design, adds to its mystique, making it a highly sought-after treasure among collectors worldwide.
A Rare Survivor
It is believed that only around 125 to 150 examples of the 1808 Capped Bust Quarter Eagle are still in existence today. Many coins from this issue were lost, melted down, or severely worn during circulation, leaving behind a very small pool of well-preserved specimens. This extreme rarity is a key factor driving the coin’s enormous market value.
Artistic Features of the 1808 Capped Bust Quarter Eagle
The Obverse: A Timeless Portrait of Liberty
The obverse of the coin features a left-facing Liberty, adorned with a cap inscribed with the word “LIBERTY.” Surrounding Liberty are 13 stars, symbolizing the original American colonies. The mint year “1808” is clearly visible beneath. The design, reflecting the neoclassical style of the time, adds an air of elegance and sophistication.
The Reverse: A Symbol of the Nation
The reverse depicts a bold eagle with outstretched wings, holding an olive branch and arrows in its talons. This imagery symbolizes the nation’s dual aspirations of peace and defense. Above the eagle, the Latin motto “E PLURIBUS UNUM” (“Out of many, one”) is inscribed, with the denomination “2 1/2 D” below. The reverse design marked a departure from earlier, more abstract representations of the eagle, setting the tone for later U.S. coinage.
Historical Context of the 1808 Capped Bust Quarter Eagle
The early 1800s were a pivotal time for U.S. coinage, and the 1808 Capped Bust Quarter Eagle represents a critical moment in this history. Quarter eagles, $2.50 gold coins, were not in high demand during this period, leading to limited minting. This coin also marks the last quarter eagle minted until 1821, as production was halted for 13 years—a hiatus that only adds to its historical importance.
The coin’s design, created by Assistant Engraver John Reich, was a significant artistic achievement. Reich’s more lifelike and realistic approach to depicting Liberty and the eagle represents a shift from the more stylized designs of earlier U.S. coins. His work on the 1808 Capped Bust Quarter Eagle is regarded as one of the masterpieces of early American coin art.
Record-Breaking Sale: The $3.4 Million Auction
In 2024, a pristine example of the 1808 Capped Bust Quarter Eagle fetched an eye-popping $3.4 million at auction. Graded MS65 by the Professional Coin Grading Service (PCGS), the coin’s exceptional condition played a major role in securing its record-breaking sale price.
Why Did This Coin Command Such a High Price?
- Immaculate Preservation: The MS65 grade indicates the coin is in virtually perfect condition, with minimal signs of wear—an extraordinary feat for a coin over 200 years old.
- Provenance and Rarity: The coin’s documented history and status as one of the few remaining examples added tremendous value.
- Intense Auction Competition: Bidders from around the world recognized the coin’s unparalleled significance, driving the final price to a new high.
Factors Driving the Value of the 1808 Quarter Eagle
Several key factors contribute to the astronomical value of this remarkable coin:
- Rarity: With fewer than 150 surviving examples, the 1808 Capped Bust Quarter Eagle is a rare and highly prized collector’s item.
- Condition: The MS65 grade signifies that this coin is in superb condition, making it highly desirable among collectors.
- Historical Importance: As the last quarter eagle minted before a long 13-year hiatus, it holds a unique place in U.S. coinage history.
- Artistic Excellence: John Reich’s innovative design adds a layer of artistic significance, further enhancing the coin’s appeal.
Auction Prices Over Time
The value of the 1808 Capped Bust Quarter Eagle has steadily increased over the years, as shown in the table below:
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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 sale of the 1808 Capped Bust Quarter Eagle for $3.4 million marks a significant moment in the world of rare coin collecting and reflects several important trends:
- Continued Interest in Rare Coins: Collectors remain eager to acquire coins with historical and artistic value, ensuring these coins maintain high demand.
- Importance of Professional Grading: Coins graded at higher levels, such as MS65, command premium prices, highlighting the value of proper certification.
- Growth in Coin Investment: Rare coins are increasingly viewed as solid long-term investments, offering the potential for significant appreciation.
This landmark sale sets a new precedent for the value of rare and historic coins, reinforcing the critical importance of rarity, condition, and provenance in determining a coin’s market value.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable?
The coin’s value is driven by its rarity, historical significance, and near-perfect condition, making it a prized treasure for collectors.
How many 1808 Capped Bust Quarter Eagles are still around?
It is estimated that only 125 to 150 examples of this coin have survived, adding to its exclusivity and value.
What does an MS65 grade mean?
An MS65 grade indicates a coin in near-perfect mint condition with minimal imperfections, making it highly desirable.
Who designed the 1808 Capped Bust Quarter Eagle?
John Reich, Assistant Engraver at the U.S. Mint, designed the coin, bringing a more realistic and artistic depiction of Liberty and the eagle.
When was the next quarter eagle minted after 1808?
The next quarter eagle was produced in 1821, following a 13-year production hiatus.
Conclusion
The 1808 Capped Bust Quarter Eagle is much more than a coin; it is a symbol of America’s early history and a masterful piece of numismatic artistry. Its record-breaking $3.4 million sale reaffirms its status as one of the most valuable and historically significant coins in the world. Whether you’re a dedicated collector or simply captivated by history, the 1808 Capped Bust Quarter Eagle is a stunning example of America’s rich coinage legacy.