The 1808 Capped Bust Quarter Eagle recently made headlines by achieving a record-breaking auction price of $3.4 million. This sale highlights the extraordinary appeal of one of the rarest and most sought-after coins in U.S. history. Coveted by collectors and admired for its artistic design, the 1808 Quarter Eagle remains a symbol of both numismatic excellence and American heritage.
The 1808 Capped Bust Quarter Eagle at a Glance
- Designer: John Reich (Assistant Engraver at the U.S. Mint)
- Mint Year: 1808
- Total Mintage: Only 2,710 coins
- Obverse Design: Liberty with a cap inscribed “LIBERTY,” surrounded by 13 stars
- Reverse Design: An eagle with olive branches and arrows, with “E PLURIBUS UNUM” above
- Estimated Surviving Coins: 125–150 pieces
- Grade of Auctioned Coin: MS65 (Mint State 65)
- Final Auction Price: $3.4 million
Why the 1808 Capped Bust Quarter Eagle Is So Special
A One-Year Wonder
The 1808 Capped Bust Quarter Eagle was produced for only one year, with a limited mintage of just 2,710 pieces. Its brief production run adds an air of exclusivity, making it one of the most desirable coins in U.S. numismatic history.
A Survivor Among Few
Out of the original mintage, it is estimated that only 125 to 150 coins have survived. Many were lost, melted, or heavily worn over time. As a result, finding a well-preserved piece, especially in high grades like MS65, is exceptionally rare.
Artistic Excellence: A Masterpiece by John Reich
The Obverse: Liberty’s Timeless Grace
The obverse of the coin features a portrait of Liberty facing left, adorned with a cap inscribed with “LIBERTY” and surrounded by 13 stars representing the original colonies. The year “1808” is prominently placed below. This design, rich in symbolism, reflects the early American ideals of freedom and unity.
The Reverse: A Powerful Symbol of America
On the reverse, an eagle with outstretched wings clutches an olive branch and a bundle of arrows, symbolizing peace and military readiness. Above the eagle is the Latin phrase “E PLURIBUS UNUM,” meaning “Out of many, one.” Below the eagle is the denomination “2 1/2 D.” The lifelike detail of the eagle, a departure from earlier stylized designs, marks a significant shift in U.S. coin artistry.
A Historic Coin from a Pivotal Era
The early 1800s were a transformative time for U.S. coinage. Quarter eagle production paused after 1808 and did not resume until 1821, making this coin the last of its kind for 13 years. Additionally, John Reich’s design revolutionized U.S. coinage, introducing a more natural and artistic style that became a hallmark of early American coins.
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Record-Breaking Sale: $3.4 Million at Auction
In 2024, the 1808 Capped Bust Quarter Eagle shattered records, selling for $3.4 million at a major numismatic auction. This coin, graded MS65 by the Professional Coin Grading Service (PCGS), stood out for its exceptional preservation and rich history.
Why Did This Coin Sell for $3.4 Million?
- Immaculate Condition: With an MS65 grade, this coin is considered nearly flawless—a rarity for coins from the early 19th century.
- Extreme Rarity: With fewer than 150 known survivors, the coin’s scarcity adds immense value.
- Historical Significance: As the only quarter eagle from 1808 and the last minted before a 13-year gap, it holds an important place in U.S. history.
- Artistic Mastery: John Reich’s influential design, showcasing both beauty and symbolism, is a numismatic treasure.
A Look at the Auction History 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 | 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 highlights several trends in the coin-collecting world:
- Surging Demand for Rare Coins: Collectors continue to seek rare and historically significant pieces.
- The Power of Grading: Coins with high professional grades (like MS65) achieve premium prices.
- Rare Coins as Investments: More collectors and investors are turning to rare coins as valuable long-term assets.
Final Thoughts
The 1808 Capped Bust Quarter Eagle is more than just a coin—it is a piece of American history and a testament to artistic and numismatic excellence. Its $3.4 million sale is a reminder of the enduring allure of rare coins. Whether you are a seasoned collector or new to numismatics, stories like this one highlight the excitement and value of coin collecting.
What are your thoughts on this remarkable sale? Would you invest in a rare coin like the 1808 Capped Bust Quarter Eagle? Share your opinions and join the conversation about the fascinating world of rare coins!