The 1848 “CAL.” Liberty Head Quarter Eagle is one of the most iconic and historically significant coins in American numismatics. This rare gold coin, minted during the California Gold Rush, symbolizes the beginning of one of the most transformative periods in U.S. history. With its unique “CAL.” counterstamp and compelling backstory, it holds a special place in the hearts of collectors and investors alike. This guide explores its history, design, rarity, and value.
Historical Background
The 1848 “CAL.” Liberty Head Quarter Eagle is directly tied to the California Gold Rush, a pivotal event that reshaped the United States. In late 1848, after gold was discovered at Sutter’s Mill in California, approximately 230 ounces of raw gold were sent to the Philadelphia Mint. This shipment of gold marked the first official federal receipt of California gold.
The Mint used this gold to strike approximately 1,389 Liberty Head Quarter Eagles. To commemorate the significance of the gold source, the coins were counterstamped with the letters “CAL.” above the eagle on the reverse. This counterstamp distinguishes the 1848 “CAL.” Quarter Eagle from other Liberty Head Quarter Eagles and makes it a historic artifact of the California Gold Rush.
Design Details
The 1848 “CAL.” Liberty Head Quarter Eagle shares its design with the standard Liberty Head Quarter Eagle, which was introduced in 1840 and remained in production until 1907. The obverse features a portrait of Lady Liberty, facing left, adorned with a coronet inscribed with the word “LIBERTY.” Surrounding her are 13 stars, representing the original colonies, with the date “1848” at the bottom.
Rarity and Mintage
With only 1,389 pieces produced, the 1848 “CAL.” Liberty Head Quarter Eagle is one of the rarest and most desirable U.S. gold coins. Due to its low mintage and historical significance, surviving examples are highly sought after by collectors.
Most examples have been circulated, so finding one in high-grade condition is exceptionally rare. Many of these coins exhibit wear, but even well-worn examples are considered valuable due to their scarcity and historical importance.
Value and Market Trends
The value of an 1848 “CAL.” Liberty Head Quarter Eagle depends largely on its condition. Coins graded in Very Fine (VF) condition typically command prices starting around $75,000 to $100,000. Higher-grade specimens, such as those graded Mint State (MS), can sell for hundreds of thousands of dollars.
For example, an MS62 graded coin sold at auction for over $500,000, reflecting the strong demand among collectors for this historic piece. Its connection to the California Gold Rush and its rarity make it a highly coveted addition to any advanced collection.
Why Collect the 1848 “CAL.” Liberty Head Quarter Eagle?
The 1848 “CAL.” Quarter Eagle is more than just a coin; it is a tangible piece of American history. It represents the nation’s expansion westward and the economic boom spurred by the discovery of gold. For collectors, owning this coin is like holding a piece of the California Gold Rush in their hands.
Additionally, its unique counterstamp and limited mintage make it a standout piece in any collection. Whether you’re a seasoned collector or a history enthusiast, the 1848 “CAL.” Liberty Head Quarter Eagle is a treasure worth pursuing.
Conclusion
The 1848 “CAL.” Liberty Head Quarter Eagle is a rare gem in U.S. coinage, offering historical significance, scarcity, and beauty. Its connection to the California Gold Rush makes it an irreplaceable artifact that continues to capture the imagination of collectors. If you have the opportunity to acquire one of these coins, it’s a decision you won’t regret—this piece of history is truly priceless.
FAQs
What does the “CAL.” on the 1848 Liberty Head Quarter Eagle signify?
The “CAL.” counterstamp marks the coin as being struck from the first shipment of gold received from California during the Gold Rush.
How rare is the 1848 “CAL.” Liberty Head Quarter Eagle?
With only 1,389 coins minted, it is one of the rarest and most sought-after U.S. gold coins.
What is the value of an 1848 “CAL.” Liberty Head Quarter Eagle?
Depending on its condition, the coin can range in value from $75,000 to over $500,000.