1824/1 Capped Bust Quarter Eagle: A Collector’s Guide

The 1824/1 Capped Bust Quarter Eagle is one of the most fascinating and sought-after coins in American numismatics. This $2.50 gold coin, part of the Capped Bust series, is notable not only for its beauty but also for its intriguing overdate—where the “1” from the previous year, 1821, can be seen under the “4” of 1824. The unique overdate error, combined with its historical importance and relative scarcity, has made it a coveted piece among collectors.

Design and Specifications

The Capped Bust design was created by John Reich, the Chief Engraver of the U.S. Mint, and it was used on a variety of U.S. coins from 1807 until 1834. The 1824/1 Capped Bust Quarter Eagle is part of a larger series of coins that feature a classic neoclassical design.

1. Obverse Design:
   • The obverse of the coin features Lady Liberty facing left, wearing a cap with the word “LIBERTY” inscribed on it.
   • The date “1824” appears below her profile, with the “1” clearly visible beneath the “4,” marking the overdate.
   • Thirteen stars surround her, symbolizing the original thirteen colonies.
2. Reverse Design:
   • The reverse shows an eagle with a shield, clutching an olive branch and arrows, with a scroll in its beak bearing the motto E PLURIBUS UNUM (Out of Many, One).
   • Surrounding the eagle is the inscription UNITED STATES OF AMERICA and 2½ DOLLARS, indicating the denomination.
3. Specifications:
   • Composition: 90% gold, 10% copper
   • Weight: 4.18 grams (0.12094 troy ounces of gold)
   • Diameter: 20 mm
   • Edge: Reeded

Mintage and Mint Marks

The 1824/1 Capped Bust Quarter Eagle was minted at the Philadelphia Mint, and no mintmark appears on the coin. The total mintage for this particular issue is estimated to be around 55,000 coins, but due to the overdate and its relatively low production, many of the original coins were melted down or lost over time. This has resulted in a relatively small number of surviving examples.

Grading and Value

The value of the 1824/1 Capped Bust Quarter Eagle can vary widely depending on its grade, rarity, and overall condition. Coins with the overdate are particularly valuable, and the grade assigned by reputable grading services such as PCGS or NGC can significantly affect the coin’s market price.

• Good (G-4): $3,000–$4,000
• Very Fine (VF-20): $6,000–$8,000
• Extremely Fine (EF-40): $10,000–$12,000
• Uncirculated (MS-60): $18,000–$22,000+
• Gem Uncirculated (MS-65): $35,000–$50,000+

Historical Significance

The 1824/1 Capped Bust Quarter Eagle was produced during an important era in U.S. coinage. The coin was struck as part of the larger Capped Bust series, which was in circulation during the presidency of James Monroe. During this time, the country was recovering from the War of 1812, and the Mint was working to meet the growing demand for coinage in the expanding economy.

Collecting Tips

1. Focus on Condition:
   As with all vintage coins, the condition of the 1824/1 Capped Bust Quarter Eagle will greatly impact its value. Coins with minimal wear, no major scratches or abrasions, and original surfaces will command a premium.
2. Check for the Overdate:
   One of the defining features of this coin is the overdate. The “1” from the year 1821 is clearly visible under the “4” of 1824. Pay close attention to this feature when buying or appraising this coin.
3. Buy from Reputable Dealers:
   Because of the coin’s value and the potential for counterfeiting, always purchase from trusted dealers and, if possible, seek coins that are certified by recognized grading companies like PCGS or NGC.

Conclusion

The 1824/1 Capped Bust Quarter Eagle is a fascinating and valuable piece of U.S. numismatic history. Its rarity, combined with the unique overdate error and stunning design, makes it an essential coin for serious collectors. Whether you are just starting your collection or are an experienced numismatist, the 1824/1 Capped Bust Quarter Eagle offers a unique and historically significant addition to any collection.

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