$3.4 Million for a Rare U.S. Coin – What’s Special About the 1808 Quarter Eagle?

$3.4 Million for a Rare Piece of U.S. History

The 1808 Capped Bust Quarter Eagle is more than just a rare coin—it’s a treasured artifact from the early days of the United States. With only 2,710 coins originally minted and fewer than 40 believed to exist today, this gold coin is incredibly hard to find. One outstanding specimen was recently sold for an astonishing $3.4 million, making it one of the most valuable gold coins in American numismatic history.

A Glimpse into Early American Coinage

The 1808 Quarter Eagle isn’t just a form of old money—it tells the story of a young nation finding its financial footing. Produced only once by the Philadelphia Mint, this coin became a one-year release due to limited demand for smaller gold denominations at the time.

Its design, created by German-American engraver John Reich, broke away from traditional classical styles. He introduced a more realistic and democratic appearance, which made the coin stand out. Its rare design, historical timing, and limited mintage make it extremely appealing to high-level collectors.

Quick Facts

Feature	Details
Coin Name	1808 Capped Bust Quarter Eagle
Designer	John Reich
Year of Issue	1808 (Only One Year)
Total Minted	2,710
Estimated Survivors	35–40 Coins
Top Sale Price	$3.4 Million (Sold in 2024)
Metal Composition	91.67% Gold, 8.33% Copper
Source	PCGS CoinFacts

Design Elements: A Symbolic Masterpiece

Obverse (Front):
Features Lady Liberty facing left with a soft cap, representing freedom and democracy. Thirteen stars surround her, representing the original colonies. The year “1808” appears below.

Reverse (Back):
Displays an eagle holding arrows and an olive branch—symbols of readiness for war and hope for peace. Above the eagle is the Latin motto “E PLURIBUS UNUM,” meaning “Out of many, one.” The value “2 1/2 D.” is placed beneath the eagle.

Why It’s Worth Millions

Scarcity
With fewer than 40 coins still around, this coin is one of the rarest U.S. gold pieces from the early 19th century.
Historical Significance
Minted under the Coinage Act of 1792, the coin reflects America’s early journey in building its monetary system.
Unique Design
John Reich gave U.S. coins a fresh, human-centered style that reflected the democratic spirit of the new nation.
Condition and Rarity
Coins in pristine condition command top prices. For example, an MS-65 grade piece sold for $2.35 million in 2015, while another brought $3.4 million in 2024.

Smart Tips for Collectors & Investors

Learn Before You Buy: Use trusted sources like PCGS CoinFacts and major auction sites such as Heritage or Stack’s Bowers.
Ensure Authenticity: Buy coins graded by reputable services like PCGS or NGC to avoid counterfeits.
Watch Market Trends: Rare coins often increase in value during uncertain economic times.
Store Properly: Protect your investment by storing coins in sealed, climate-controlled holders to preserve their quality.

Notable Auction Moments

2015: A coin graded MS-65 reached a sale price of $2.35 million at Sotheby’s.
2024: A high-grade example sold for $3.4 million, showing how collector demand continues to rise.

FAQs

Q1: Why is the 1808 Quarter Eagle so valuable?

Because it’s a one-year-only coin with very few known to exist today. Its rarity, historical context, and striking design by John Reich add immense value.

Q2: What does “MS-65” mean in coin grading?

“MS-65” refers to “Mint State 65”—a grading level showing the coin is in near-perfect condition with only very minor imperfections.

Q3: Who designed the 1808 Quarter Eagle coin?

John Reich, a German-born engraver who modernized U.S. coin designs and added a democratic flair, created this coin.

Q4: How can I protect a rare coin investment?

Use certified holders from PCGS or NGC, store the coins in a climate-controlled space, and ensure proper documentation for authenticity and value.