The 1808 Capped Bust Quarter Eagle is one of the rarest and most valuable coins in American history. Recently, one of these coins was sold for an astonishing $3.4 million, capturing the attention of collectors and investors alike. With less than 150 known to exist today, this coin has become a prized possession for those who appreciate numismatic treasures.
In this article, we will explore the history of the 1808 Capped Bust Quarter Eagle, understand why it was discontinued, and discover what makes it so valuable. We’ll also look at how to identify and authenticate this rare coin, along with tips on selling it for the best price. Whether you are an experienced coin collector or simply curious about rare coins, this guide offers valuable insights into this numismatic masterpiece.
Overview Table
| Feature | Details |
| Coin Name | 1808 Capped Bust Quarter Eagle |
| Mintage Year | 1808 |
| Total Mintage | 2,710 coins |
| Surviving Specimens | Fewer than 150 |
| Recent Auction Price | $3.4 Million |
| Designer | John Reich |
| Metal Composition | 91.67% Gold, 8.33% Copper |
| Weight | 4.37 grams |
| Diameter | 20 mm |
| Notable Sales | Heritage Auctions, Stack’s Bowers |
| Official Coin Reference | PCGS CoinFacts |
The History of the 1808 Capped Bust Quarter Eagle
The 1808 Capped Bust Quarter Eagle was designed by John Reich and minted for only one year, making it an incredibly rare coin. The obverse of the coin features Liberty wearing a soft cap, while the reverse displays a heraldic eagle holding arrows and an olive branch, symbolizing war and peace. With a total mintage of just 2,710 coins, it quickly became one of the scarcest U.S. gold coins.
This coin’s unique design and limited production make it highly sought after by collectors. Its historical significance also adds to its appeal, as it represents an important period in early American coinage.
Why Was the Coin Discontinued?
Several reasons led to the discontinuation of the 1808 Capped Bust Quarter Eagle:
- Low demand for quarter eagles at the time, as larger denominations like the Half Eagle and Eagle were more popular.
- Ongoing design experiments at the U.S. Mint, which led to frequent changes in coin designs.
- Economic factors, including shifts in gold value, affected the production of smaller gold coins.
- Minting challenges, as the small size of the coin often resulted in poor-quality strikes.
These factors combined to make the 1808 Capped Bust Quarter Eagle a short-lived but highly coveted piece of American numismatic history.
Why Is This Capped Bust Quarter Eagle Coin Worth Millions?
Extreme Rarity
With less than 150 known to exist today, the 1808 Capped Bust Quarter Eagle’s rarity is one of the main reasons for its high value. Collectors are willing to pay significant amounts for a chance to own one of these few surviving specimens.
Condition Matters
The condition or grade of a coin has a major impact on its value. Professional grading services like PCGS and NGC evaluate coins on a scale from Poor to Mint State. A well-preserved 1808 Capped Bust Quarter Eagle in a high grade can command millions, while a lower-grade coin can still be worth hundreds of thousands.
Historic Significance
This coin represents a transitional period in American coinage history. Its unique design and the fact that it was minted for only one year make it a significant piece for collectors interested in U.S. history.
Auction Demand
Auction houses like Heritage Auctions and Stack’s Bowers regularly feature rare coins, attracting elite collectors who are willing to bid aggressively. The competitive nature of these auctions has contributed to record-breaking prices for the 1808 Capped Bust Quarter Eagle.
The Gold Content
Although the numismatic value of this coin far exceeds its gold content, the fact that it contains nearly 4.37 grams of gold adds intrinsic value. This makes it appealing not only to coin collectors but also to investors interested in gold.
How to Check If You Own One
Look for Key Design Features
- Obverse: Liberty facing left with a soft cap.
- Reverse: An eagle holding arrows and an olive branch, with the denomination “2 1/2 D” below.
- Year: 1808, as no other date exists for this type.
Check for Authenticity
- Weigh the coin: It should be 4.37 grams.
- Magnet test: Gold is non-magnetic, so the coin should not stick to a magnet.
- Check edge reeding: The edges should have fine, uniform ridges.
- Professional grading: Consider services like PCGS or NGC for expert authentication.
Selling an 1808 Capped Bust Quarter Eagle
Get Your Coin Graded
Having your coin graded by a recognized service like PCGS or NGC can significantly increase its market value. A graded coin is more trusted by buyers and can command higher prices.
Choose the Right Selling Platform
Consider selling through major auction houses like Heritage Auctions or Stack’s Bowers for maximum visibility and competitive bidding. Verified online marketplaces and private collectors are also options, depending on your preference.
Understand Tax Implications
Selling a coin worth millions can have significant tax consequences. It is advisable to consult a tax professional to understand capital gains taxes and other financial implications before proceeding with a sale.
FAQs About the Rare 1808 Capped Bust Quarter Eagle
Q1: How many 1808 Capped Bust Quarter Eagles exist today?
Fewer than 150 are believed to exist.
Q2: How can I confirm if my coin is authentic?
Check the weight, design features, and consider getting it professionally graded by PCGS or NGC.
Q3: What’s the most someone has paid for this coin?
The highest recorded price for an 1808 Capped Bust Quarter Eagle is $3.4 million.
Q4: Where is the best place to sell this coin?
Major auction houses like Heritage Auctions or Stack’s Bowers are recommended for achieving the best price.
Q5: Is investing in rare coins a good idea?
Yes, rare coins have shown strong appreciation over time, but it’s important to buy from reputable dealers.
Conclusion
The 1808 Capped Bust Quarter Eagle is not just a coin; it’s a piece of American history. Its rarity, historical significance, and recent sale price of $3.4 million highlight its immense value. If you suspect you own one, authenticating and grading it should be your first step. For collectors and investors alike, this coin represents an extraordinary opportunity to own a part of America’s numismatic legacy.
If you enjoyed learning about this rare coin, consider exploring other numismatic treasures and sharing this article with fellow enthusiasts. Your next discovery could be worth a fortune.
