Historic 1808 Capped Bust Quarter Eagle: In an unprecedented moment for numismatics, the 1808 Capped Bust Quarter Eagle recently sold for a staggering $3.4 million, setting a new record at auction. This extraordinary sale shines a spotlight on one of the most elusive and coveted coins in U.S. history. With its unique design and unmatched rarity, this coin remains a treasured gem for collectors and a symbol of historical importance in American coinage.
This article delves into the fascinating story behind the 1808 Capped Bust Quarter Eagle, exploring its history, design, and the factors contributing to its record-breaking sale. We’ll also highlight its significance in the numismatic world and discuss why it remains an icon among rare coins.
Overview of the 1808 Capped Bust Quarter Eagle
| Category | Details |
| Designer | John Reich, Assistant Engraver of 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 holding an olive branch and arrows, with “E PLURIBUS UNUM” above |
| Rarity | Estimated 125–150 surviving examples |
| Grade (Auctioned) | MS65 |
| Auction Price | $3.4 million |
The Unique Appeal of the 1808 Capped Bust Quarter Eagle
One-Year Production
Unlike most coins produced across multiple years, the 1808 Capped Bust Quarter Eagle had a one-year production run. Only 2,710 pieces were minted, making it one of the rarest coins in the history of U.S. coinage. Its exclusive design and limited production add to its mystique, attracting collectors from around the globe.
A Rare Survivor
It’s estimated that only 125 to 150 examples of this coin still exist. Many of the original coins were either lost, melted down, or heavily worn due to circulation, leaving behind a very small pool of well-preserved pieces. This rarity is a significant factor in its extraordinary market value.
Artistic Features of the 1808 Quarter Eagle
The Obverse: A Timeless Liberty
On the obverse, the coin depicts a left-facing Liberty adorned with a cap inscribed “LIBERTY.” Surrounding her are 13 stars, symbolizing the original American colonies, while the mint year “1808” is prominently displayed below. The design exudes a sense of classical elegance, reflecting the artistic shift of the early 19th century.
The Reverse: A Symbolic Eagle
The reverse features a detailed eagle with outstretched wings, clutching an olive branch and arrows in its talons. This design symbolizes both the nation’s peaceful aspirations and readiness for defense. Above the eagle is the Latin motto “E PLURIBUS UNUM,” meaning “Out of many, one,” and the denomination “2 1/2 D” is inscribed below. This realistic depiction of the eagle was a departure from earlier, more stylized designs, marking a new era in U.S. coin artistry.
Historical Context of the 1808 Capped Bust Quarter Eagle
The early 1800s were a transitional period for U.S. coinage. During this time, the production of quarter eagles—a $2.50 gold coin—was relatively limited due to low demand. The 1808 Capped Bust Quarter Eagle represents the final coin of this denomination minted until 1821, as production was paused for 13 years. This hiatus further enhances its historical significance.
Additionally, the design, created by Assistant Engraver John Reich, marked a turning point in American coinage. Reich introduced a more lifelike approach to depicting Liberty and the eagle, moving away from earlier, more abstract styles. His work on the 1808 Capped Bust Quarter Eagle is celebrated as a masterstroke in numismatic art.
Breaking Records: The $3.4 Million Auction
In 2024, a pristine example of the 1808 Capped Bust Quarter Eagle achieved a record-breaking sale price of $3.4 million at a leading numismatic auction. The coin’s exceptional condition, graded MS65 by the Professional Coin Grading Service (PCGS), played a pivotal role in commanding this historic price.
What Set This Coin Apart?
- Impeccable Preservation: Coins from the early 19th century rarely survive in such pristine condition. The MS65 grade indicates that this piece is virtually flawless, with exceptional detail and luster.
- Provenance and Rarity: The coin’s documented history and its status as one of only a handful of surviving examples added immense value.
- Fierce Competition: Bidders from around the world recognized the coin’s significance, driving the price to new heights.
What Drives the Value of the 1808 Quarter Eagle?
Several factors contribute to the astronomical value of the 1808 Capped Bust Quarter Eagle, including:
- Rarity: With fewer than 150 examples known to exist, the coin is a treasure for collectors.
- Condition: The MS65 grade signifies a level of preservation almost unheard of for a coin from this era.
- Historical Importance: As the last quarter eagle minted before a 13-year hiatus, it holds a unique place in U.S. coinage history.
- Artistic Excellence: John Reich’s innovative design sets this coin apart as a masterpiece of early American coinage.
Auction History of the 1808 Capped Bust Quarter Eagle
The table below highlights how the coin’s value has evolved over time, showcasing its steady rise as a premier 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 sale of the 1808 Capped Bust Quarter Eagle for $3.4 million underscores several key trends in the numismatic market:
- Continued Interest in Rare Coins: Collectors remain eager to invest in coins with historical significance and rarity.
- Importance of Grading: High-quality coins consistently achieve premium prices, emphasizing the value of professional grading.
- Growth in Coin Investment: Rare coins are increasingly seen as valuable investments, with long-term appreciation potential.
This landmark sale also sets a new benchmark for other historic coins, reinforcing the importance of rarity and condition in determining market value.
Frequently Asked Questions
Why is the 1808 Capped Bust Quarter Eagle so valuable?
The coin’s value lies in its rarity, historical significance, and impeccable condition, which make it a prized piece for collectors.
How many 1808 Capped Bust Quarter Eagles are known to exist?
Approximately 125 to 150 examples of this coin are believed to have survived, adding to its exclusivity.
What does the MS65 grade mean?
An MS65 grade indicates a coin in mint state with very few imperfections, making it highly desirable among collectors.
Who designed the 1808 Capped Bust Quarter Eagle?
The coin was designed by John Reich, who introduced a more realistic style for Liberty and the eagle.
When was the next quarter eagle minted after 1808?
The next quarter eagle was minted in 1821, following a 13-year pause in production.
Final Thoughts
The 1808 Capped Bust Quarter Eagle is much more than a coin; it is a remarkable artifact that tells the story of America’s early years. Its record-breaking $3.4 million sale reaffirms its place as a numismatic treasure. Whether you’re a collector or simply fascinated by history, this coin offers a glimpse into the artistry, heritage, and value of rare coins.
What are your thoughts on this incredible piece of history? Share your opinions in the comments or explore more stories about rare and fascinating coins!
