Collecting coins can be a fascinating hobby, with some coins being so rare and old that they’re worth a small fortune. One interesting example is the quarter dollar coin from 1823, part of a collection owned by a coin collector named Jon Lusk. Among his early quarters, one coin stands out: an 1823/2 Capped Bust quarter dollar, which sold for a massive $44,400! Let’s explore why this coin is so valuable, what makes it unique, and how it compares to other coins from the early 1800s.
| Feature | Description |
|---|---|
| Coin Name | 1823/2 Capped Bust Quarter Dollar |
| Owner | Jon Lusk |
| Sale Price | $44,400 |
| Grading | Very Good 8 by the Professional Coin Grading Service (PCGS) |
| Mint | Philadelphia Mint |
| Year Produced | 1823 (with some possibly dated 1822) |
| Reported Mintage | 17,800 coins |
| Unique Features | Overdate with a clear “2” under the “3” on the date |
| Reverse Design | Shows a defective lower arrowhead, consistent across all genuine 1823 coins |
| Reverse Die Usage | Same reverse die used until 1828, paired with different obverse dies |
| Surface Toning | Antique-grey surfaces with a gold tone |
| Provenance | Documented ownership history dating back to 1959 |
Why This Coin is So Special
Rare Coin with a Small Mintage
In 1823, the Philadelphia Mint produced only five types of coins, and the quarter dollar was one of them. For that year, only about 17,800 of these quarter dollars were made. This is a small number compared to coins made today. Experts believe that some coins from 1822 were also included in this count, which makes the 1823 coins even rarer.
Unique Date Marking
What’s unusual about this 1823 quarter dollar is that it has a clear “2” under the “3” in the year on the front of the coin. This means that the original die (the stamp used to create coins) had a “2” on it, which was then stamped over with a “3” to show the correct year. This feature is called an “overdate,” and it’s a key detail that collectors look for when judging the coin’s authenticity and uniqueness.
A Defective Arrowhead
On the back of this quarter dollar, there’s a tiny flaw in one of the arrowheads, part of the coin’s design. This defect appears on all the authentic 1823 coins, making it another sign that helps experts verify the coin’s origin. Interestingly, the same stamp for the back design was reused for different quarter dollars all the way until 1828, so the defective arrowhead is a familiar feature on several coins from that era.
The Condition and Value of the 1823 Quarter Dollar
Graded Very Good 8
When this coin was sold, it was graded as “Very Good 8” by the Professional Coin Grading Service, or PCGS. This is a grade given to coins to show their condition, with higher numbers meaning better quality. While Very Good 8 isn’t the highest grade, it still indicates that the coin is in decent condition for its age. The antique grey color and gold tone on the coin’s surface also make it more appealing to collectors.
Its Journey Since 1959
This coin has a rich history and has been owned by several collectors since at least 1959. Coins with a known “provenance” (or history of ownership) are often more valuable because buyers know where they’ve been. The unique features of the 1823 quarter dollar, along with its attractive appearance and known history, are what made it sell for $44,400.
Conclusion
The 1823/2 Capped Bust quarter dollar isn’t just any coin; it’s a piece of history. Its rare date mark, unique design flaw, and antique look make it highly valuable to collectors. The fact that it’s one of only a handful of known examples adds to its worth, and the history of ownership makes it even more desirable. For collectors and historians alike, coins like this are treasures that give us a glimpse into the past.
FAQs
Q1: Why is the 1823/2 Capped Bust Quarter Dollar so valuable?
The 1823/2 quarter dollar is valuable because it’s extremely rare and has unique characteristics like the “2” under the “3” in the date, called an overdate. These specific features, along with its small mintage, make it highly desirable for collectors.
Q2: What does “overdate” mean?
An overdate is when a coin shows a number stamped over another number. In this case, the “2” under the “3” on the coin indicates that a 1822 die was re-stamped with “1823” instead of creating a completely new die. This is a sought-after feature among coin collectors.
Q3: How does the grading “Very Good 8” affect the coin’s value?
The “Very Good 8” grade means the coin is in good, but not pristine, condition. Higher grades would likely make the coin even more valuable, but given its rarity and historical significance, this grade still made it appealing and valuable to collectors.
Q4: What is the significance of the defective arrowhead on the reverse?
The defective arrowhead is a flaw in the reverse die, which was reused multiple times until 1828. This defect appears on all authentic 1823 quarter dollars, helping to confirm the coin’s authenticity and connecting it to other quarters minted in the same period.
Q5: How does provenance affect a coin’s value?
Provenance is the record of ownership history. Knowing the coin’s history can make it more valuable because it helps prove its authenticity and adds to its historical interest. This 1823 quarter has been documented as part of different collections since 1959, adding to its value.