$3.4 Million for a Rare U.S. Coin: The 1808 Capped Bust Quarter Eagle

In the world of rare coins, few are as coveted, mysterious, and historically significant as the 1808 Capped Bust Quarter Eagle.

In the realm of rare coins, few are as coveted, mysterious, and historically significant as the 1808 Capped Bust Quarter Eagle. With only 2,710 originally minted and fewer than 40 believed to exist today, this $2.50 gold coin has become a holy grail among collectors.

This coin is a time capsule, returning viewers to a pivotal moment in U.S. history and showcasing the artistry of German-born engraver John Reich, who designed the Capped Bust series.

The 1808 Capped Bust Quarter Eagle was minted at a time when the United States was still solidifying its economic systems. Designed by Reich, the coin marked a stylistic and political transition in U.S. currency with its more democratic and naturalistic aesthetic.

At the beginning of 1808, the Philadelphia Mint produced 2,710 Quarter Eagles. They were all struck in a single batch, and no further production followed, making this a one-year-only issue.

Coin Value

The coin is easily recognizable with its standard Liberty head design and capped bust portrait, which was used from 1807 to 1834. The coin’s reverse features a herald eagle with outspread wings, holding a banner that reads "United States of America" and an olive branch.

The coin’s edge is beaded and it measures 24 mm in diameter. It's composed of 90 percent gold and 10 percent copper.

The finest known specimen, graded MS-65 by PCGS, previously sold for $2.35 million in 2015.

However, in 2024, another specimen fetched $3.4 million.

Where to Buy Rare Coins

Beginners can learn more about early U.S. coins from resources like PCGS CoinFacts.

Always ensure the coin is authenticated and graded by third-party organizations such as PCGS or NGC to avoid counterfeits.

Coins like the 1808 Quarter Eagle are also sold at major auction houses like Stack’s Bowers or Heritage Auctions.

Those interested in investing in rare coins should also follow auction results and market demand for coins.

Rare coins like the 1808 Quarter Eagle can act as hedge assets during times of economic uncertainty.

Gold coins should be stored in a temperature-controlled environment, ideally in a certified, tamper-proof holder provided by grading services. They should also be inspected regularly for any signs of cleaning or alteration, which can significantly reduce the coin’s value.