The 1808 Capped Bust Gold $2.50 Quarter Eagle is one of the rarest and most sought-after coins in American numismatics. Its rarity, historical significance, and artistic design make it a prized possession for collectors. This coin represents a glimpse into the early history of U.S. coinage and offers an intriguing story for those interested in rare treasures. Let’s dive deeper into the coin’s details, its history, and why it is such a valuable artifact.
What is the 1808 Capped Bust Gold $2.50 Quarter Eagle?
The 1808 Capped Bust Gold Quarter Eagle was minted during a time when the United States was still establishing its monetary system. The coin is made of 91.67% gold and 8.33% copper, giving it both intrinsic and collectible value. Only 2,710 pieces of this coin were minted, making it one of the scarcest U.S. coins ever produced.
Quick Specifications of the Coin:
| Feature | Detail |
|---|---|
| Denomination | $2.50 Quarter Eagle |
| Year | 1808 |
| Composition | 91.67% Gold, 8.33% Copper |
| Weight | 4.37 grams |
| Diameter | 20 mm |
| Design | Capped Bust on the obverse, Heraldic Eagle on the reverse |
| Mint | Philadelphia |
| Designer | John Reich |
| Mintage | 2,710 coins |
Design and Symbolism
The coin’s obverse features the “Capped Bust” of Liberty, designed by John Reich, a prominent engraver of the time. The bust is adorned with a cap and curls that reflect the neoclassical style popular in the early 19th century.
The reverse showcases the Heraldic Eagle, clutching an olive branch and arrows in its talons, symbolizing peace and strength. The inscription “E PLURIBUS UNUM” is present above the eagle, highlighting the unity of the United States.
Why is the 1808 Capped Bust Gold Quarter Eagle So Rare?
Several factors contribute to the rarity of this coin:
- Limited Mintage
With only 2,710 coins produced, the 1808 Quarter Eagle had an extremely small release, even by 19th-century standards. - Single-Year Issue
This coin was minted exclusively in 1808, making it a one-year type coin. - High Melting Rate
Many of these coins were melted down for their gold content over the years, further reducing the number in existence. - Historical Context
The early 1800s were a period of experimentation in U.S. coinage. The government sought to stabilize the currency, which resulted in limited production runs for gold coins.
Current Value and Market Demand
The value of the 1808 Capped Bust Gold Quarter Eagle depends on its condition, rarity, and historical significance. In auctions, specimens have sold for anywhere between $300,000 and $2,000,000, depending on their grade.
Recent Auction Results:
| Grade | Auction Price |
|---|---|
| MS61 | $650,000 |
| MS64 | $1,200,000 |
| AU50 | $310,000 |
Collecting the 1808 Capped Bust Gold Quarter Eagle
For numismatists, owning this coin is akin to holding a piece of history. Here are a few tips for collectors:
- Authenticity Matters
Always purchase from reputable dealers or auction houses to avoid counterfeits. - Grade Significance
Coins graded by organizations like PCGS or NGC are more desirable and retain higher market value. - Historical Value
Understanding the coin’s historical background adds depth to its worth.
Conclusion
The 1808 Capped Bust Gold $2.50 Quarter Eagle is more than just a coin—it’s a tangible connection to the early days of American history. Its rarity, unique design, and significant historical context make it a cherished item for collectors and history enthusiasts alike. Whether you’re a seasoned numismatist or a new collector, this coin is a symbol of America’s rich heritage.
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FAQs
1. Why was the 1808 Quarter Eagle minted for only one year?
It was part of a broader experiment in U.S. coinage. The limited production was likely due to changes in design and economic conditions.
2. How much gold does the coin contain?
The coin has approximately 0.2419 troy ounces of gold.
3. What is the most expensive 1808 Quarter Eagle sold at auction?
The highest recorded price is $2,000,000 for a top-grade specimen.