Most Expensive Coins

1823 Capped Bust Quarter: A Guide for Coin Enthusiasts

1823 Capped Bust Quarter

The 1823 capped bust quarter is one of the most famous and popular of all the Bust Quarter Dollars. As noted in the Condition Census listed below, this coin has grabbed the attention of numerous major collectors, like Waldo Newcomer, Jerome Kern, R.L. Miles Jr., and Reed Hawn. One of the highlights of this coin was the Dr. Juan Suros Collection, one of the greatest collections of overdated coins ever made.

This coin has been off the market since 1999 when it sold for $138,000. It is the best example of this date and its cover image on Steve Tompkins’ book, “Early United States Quarters, 1796-1838.”

Historical Significance: 

This coin is notable for being part of the Dr. Juan Suros Collection, one of the greatest collections of overdated coins. It has been owned by several major collectors, including Waldo Newcomer, Jerome Kern, R.L. Miles Jr., and Reed Hawn.

Coin Specifications

The 1823 Capped Bust Quarter is part of the series from 1820 to 1838. It is graded as PCGS PR64.

  • Year: 1823
  • Mint Mark: None
  • Type: Capped Bust Quarter
  • Price Range: $18,573.00 – $96,775.00+
  • Face Value: 0.25 USD
  • Produced: 17,000
  • Edge: Reeded
  • Silver Weight: 0.1808 oz.
  • Melt Value: $5.35
  • PCGS #: 5368
  • Designer: John Reich
  • Diameter: 27.50 millimeters
  • Weight: 6.74 grams
  • Mintage: 1
  • Mint: Philadelphia
  • Metal: 89.2% Silver, 10.8% Copper
  • Auction Record: $396,563 for PR64 on 06-23-2014 at Heritage Auctions

Basic Design of the 1823/2 Capped Bust Quarter

 Obverse (Front): Liberty is shown in a portrait facing left on the obverse of the 1823/2 Capped Bust Quarter. Liberty is shown with the word “LIBERTY” written on the headband of a Phrygian cap, known as a symbol of freedom. The year “1823” is written below the image.

Reverse (Back): The coin’s reverse shows an eagle with its wings spread, carrying an olive branch in its mouth and arrows in its mouth, signifying peace and conflict, respectively. The inscription “E PLURIBUS UNUM” is written above the eagle’s head, and a wreath of laurel leaves around it. Below the eagle is the inscription “25 C.” which shows it is valued at twenty-five cents. The coin’s edge is reeded, providing an adorable border. 

Rarity and Value

All 1823 Capped Bust Quarters are 3 over 2s and these are very rare as only over 17 thousand were minted. There seems to have been a tendency of the mint to reuse old coins as many of the 1822 to 1828 Draped Bust Quarters are some version of a re-strike.

In Average Circulated (AC) condition, it’s worth around $18,573.00. One in certified mint state (MS+) condition could bring as much as $96,775 at auction. But this cost does not reference any standard coin grading scale. Average Circulated means it is in a similar condition to other coins circulated in 1823, and mint state means it is certified MS+ by one of the top coin grading companies.

Grading and Condition of the 1823 Capped Bust Quarter

The 1823 Capped Bust Quarter is highly valued, especially in Proof condition. This specific coin is graded as PCGS PR64. Here are some key points about its grading and condition:

  • Proof Condition (PR64): This grade means the coin is in Proof condition, indicating it was specially made for collectors and has a high level of detail and finish. PR64 is a high grade, meaning the coin is in excellent condition with minimal imperfections.
  • Auction Record: The 1823/2 Proof coin set an auction record when it sold for $396,563 in 2014 at Heritage Auctions. It has been off the market since 1999 when it sold for $138,000, highlighting its rarity and desirability.
  • Condition Census: The coin’s condition has caught the attention of collectors due to its excellent preservation and historical importance. It is featured on the cover of Steve Tompkins’ book, “Early United States Quarters, 1796-1838,” showcasing its significance in numismatic history.

Silver Content

Yes! Capped Bust Quarters produced in 1823 are 90% silver to be precise, and contain 0.1808 troy oz or 5.623 grams in total of .999 pure silver. Silver weight is measured in troy ounces. Troy ounces weigh about 2 grams more than the standard ounce. 

Also Read – 1871 CC Liberty Seated Quarter: A Collector’s Guide

Conclusion:

Overall, the 1823 Capped Bust Quarter in PCGS PR64 condition is an exceptional and rare coin, highly sought after by collectors for its historical value, pristine condition, and limited mintage.

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