1808 $2 1/2 Gold Capped Bust PCGS AU55

Introduction

The 1808 $2.50 Capped Bust Quarter Eagle graded PCGS AU55 is an impressive example of one of the most distinctive rarities in early United States gold coinage. Designed by Assistant Engraver John Reich, the 1808 Quarter Eagle represents a one-year-only design type with a remarkably small original mintage of just 2,710 coins. Certified AU55 by Professional Coin Grading Service (PCGS), this example retains substantial original detail and traces of mint luster while offering the history and rarity associated with early federal gold.

History

The United States first introduced the $2.50 Quarter Eagle in 1796, but the denomination was produced in relatively small quantities during its early decades. In 1808, the Philadelphia Mint introduced John Reich's new Capped Bust Left design, replacing the earlier Draped Bust/Heraldic Eagle design. Reich had joined the Mint as Assistant Engraver in 1807 and was tasked with redesigning several denominations of American coinage.

Only 2,710 Quarter Eagles were struck in 1808, all from a single known die marriage. Production of the denomination then ceased entirely, and no additional Quarter Eagles were struck until 1821. By that time, the design had been modified, leaving the 1808 as the only Quarter Eagle produced with Reich's original Capped Bust Left, Large Cap design. Its limited mintage, low survival rate, and status as a one-year type have made the 1808 an important issue for collectors of early U.S. gold and type coinage.

Design

The obverse features a left-facing portrait of Liberty wearing a large soft cap with LIBERTY inscribed across the band. Thirteen stars surround the portrait, with seven positioned to the left and six to the right, while the date 1808 appears below. Reich's portrait marked a clear departure from the right-facing Liberty used on earlier Quarter Eagles.

The reverse features a naturalistic eagle with outstretched wings and a Union shield across its breast. The eagle holds an olive branch and arrows in its talons, while a scroll bearing E PLURIBUS UNUM appears above. The inscription UNITED STATES OF AMERICA surrounds the design, with the denomination 2 1/2 D. below. Reich's treatment of the eagle became an important influence on subsequent nineteenth-century U.S. gold coin designs.