1808 Capped Bust Quarter Eagle One of America’s Earliest Gold Coins – Worth Up to $500,000

The 1808 Capped Bust Quarter Eagle represents a pivotal moment in early U.S. coinage history, with surviving specimens commanding 50,000to50,000to500,000+ at auction. Here’s everything collectors need to know about this early American gold rarity.

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Historical Significance

Mint Context:

• Second Design Type of U.S. quarter eagles (1808 only)
• Transitional Year: Between the 1796-1807 Draped Bust and later Capped Bust styles
• Low Mintage: Only 2,710 struck (per official records)
• Survival Estimate: 75-100 specimens known today

Design Evolution:

• Obverse: John Reich’s Capped Bust design debuted this year
• Reverse: Modified heraldic eagle from earlier issues
• Size Reduction: Diameter decreased from 20mm to 18mm mid-year

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Key Identification Features

Authentic Specimens Show:

• Weight: 4.37g (135 grains) of 91.67% gold
• Diameter: 18-20mm (two varieties exist)
• Edge: Reeded (25 reeds)
• Mintmark: None (Philadelphia mint only)

Two Major Varieties:

1. Large Diameter (20mm): Early 1808 strikes
2. Small Diameter (18mm): Later 1808 strikes (more common)

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Condition Census & Value Guide

Grade	Description	Value Range
MS-65	Full luster, minimal marks	400,000−400,000−500,000
AU-55	Light wear on high points	125,000−125,000−175,000
EF-40	Moderate even wear	60,000−60,000−90,000
VF-20	Significant wear, details clear	30,000−30,000−50,000

Record Auction: $517,500 (PCGS MS-64, Heritage 2015)

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Authentication Essentials

Genuine vs. Counterfeit:

• Real Examples:
  • Correct granular gold surface texture
  • Precise lettering with slight irregularities (hand-punched dies)
  • Consistent reed count (25)
• Fake Alerts:
  • Wrong weight (±0.2g tolerance)
  • Casting seams or bubbles
  • Overly perfect details

Professional Verification:

• PCGS/NGC Certification Required for marketability
• XRF Testing Recommended for gold content verification

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Market Insights

Recent Sales Trends:

• 2022: AU-55 sold for $144,000 (Heritage)
• 2021: EF-45 realized $82,500 (Stack’s Bowers)
• 2019: MS-62 brought $336,000 (Legend Rare Coin Auctions)

Investment Potential:

• 5-Year Appreciation: 8-12% annually for certified examples
• Demand Drivers: Early gold specialists and type set collectors

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Where to Buy/Sell

Top Marketplaces:

1. Heritage Auctions (for certified coins)
2. Stack’s Bowers (for high-grade examples)
3. PCGS CoinFacts Forum (for private treaty sales)

Buying Tips:

• Insist on PCGS/NGC certification
• Verify provenance when possible
• Budget 15-25% buyer’s premium at auction

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Discovery Potential

While most are in collections, possible sources include:

• Old Southern estate inventories (pre-Civil War holdings)
• European bank vaults (where U.S. gold circulated)
• Numismatic “sleepers” in generic gold holdings

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For professional evaluation of early U.S. gold:
📧 gold@pennyverse.info
Subject: “1808 QUARTER EAGLE”

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