In a historic moment for the world of numismatics, a rare 1808 Capped Bust Quarter Eagle has been sold for an astonishing $3.4 million at auction. This groundbreaking sale highlights the coin’s immense rarity and the strong demand it continues to generate among collectors and investors alike.
The 1808 Capped Bust Quarter Eagle: An Overview
The 1808 Capped Bust Quarter Eagle holds a special place in the history of U.S. coinage. Created by Assistant Engraver John Reich, this $2.50 gold coin was minted exclusively in 1808, with only 2,710 pieces ever produced. Its one-year-only design and limited mintage make it one of the most sought-after coins for numismatists.
Design and Features of the Coin
- Obverse: The obverse of the coin features a left-facing Liberty, wearing a cap inscribed with the word “LIBERTY.” Surrounding Liberty are 13 stars, representing the original colonies, with the year “1808” displayed beneath.
- Reverse: The reverse features a naturalistic eagle with outstretched wings, clutching an olive branch and arrows. Above the eagle is the phrase “E PLURIBUS UNUM,” and below it, the denomination “2 1/2 D.”
Historical Significance
During the early 1800s, the production of quarter eagles was limited due to low demand for the coin. The 1808 edition was the last of its kind until 1821, which only adds to its rarity. The coin’s design, featuring a more realistic portrayal of Liberty and the eagle, marked a shift from previous coinage styles.
Auction Highlights
In a recent auction hosted by a leading numismatic firm, the 1808 Capped Bust Quarter Eagle drew intense bidding, ultimately selling for $3.4 million. The coin’s exceptional grade of MS65, as certified by the Professional Coin Grading Service (PCGS), played a key role in securing this record-breaking price.
Factors Behind the Record-Breaking Price
Several key factors contributed to the extraordinary sale price of this coin:
- Rarity: With only an estimated 125 to 150 surviving examples of the 2,710 originally minted, the 1808 Quarter Eagle is considered one of the rarest U.S. coins.
- Condition: Graded MS65, this coin is in near-perfect condition, an uncommon feature for early 19th-century gold coins.
- Historical Value: As a one-year-only issue and the last quarter eagle minted before a 13-year hiatus, its historical importance further elevates its value.
A Look at Past Auction Results
| 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 |
The 2024 sale, with the coin fetching $3.4 million, represents the most significant auction result for this piece.
Impact on the Numismatic Market
This record-breaking sale underscores the continued strong demand for rare, historically significant coins. It also highlights the importance of coin grading and condition, with high-quality coins commanding exceptional prices. Collectors and investors alike may use this sale as a reference point for future valuations of similar coins.
Conclusion
The sale of the 1808 Capped Bust Quarter Eagle for $3.4 million is a testament to the enduring value of rare coins. Its combination of rarity, historical significance, and excellent preservation ensures its place as a key piece in American numismatic history.
Frequently Asked Questions
- Why is the 1808 Capped Bust Quarter Eagle so valuable? The value of this coin is driven by its rarity, its one-year-only design, its limited mintage, and its importance in U.S. coin history.
- How many 1808 Capped Bust Quarter Eagles still exist? It’s estimated that only between 125 and 150 examples of the 1808 Quarter Eagle remain today.
- What does the MS65 grade indicate? MS65 represents a coin in mint state with virtually no imperfections, signifying an outstanding level of preservation.
- Who designed the 1808 Capped Bust Quarter Eagle? The coin was designed by John Reich, the Assistant Engraver, who introduced a more realistic style for Liberty and the eagle on U.S. coins.
- When was the next quarter eagle minted after 1808? The next quarter eagle was minted in 1821, following a 13-year break in production.
