1823 Capped Bust Quarter, 3/2

Coinage of the Capped Bust Quarter commenced in 1815, featuring John Reich’s image of Lady Liberty wearing a Phrygian cap, a symbol worn by newly emancipated slaves dating back to ancient times.(1)

All 1823 Capped Bust Quarters are made from the same die pair, the obverse characterized by a 3/2 overdate.

Mint records show 17,800 Capped Bust were struck in 1823, consisting of two deliveries. One of 1,800 pieces on February 3, the other of 16,000 on December 31. Theorizing on the meager survivorship of the 1823, researchers believe the much smaller February delivery was the only supply of 1823 quarters produced; the December delivery was for quarters dated 1824.(2)

The 1823 Capped Bust quarter had become a legendary rarity less than 40 years later. Montroville W. Dickeson wrote his 1859 American Numismatical Manual, where he proclaimed the 1823 to be “extremely rare.”(3)

Value trends for the 1823 have been rising with remarkable consistency, as the charts below depict. That’s to be expected for one of the rarest of all United States quarters, and a most desirable acquisition for advanced collectors.

Estimated survivors in all grades: 33
? The survivor estimate from PCGS represents an average of one or more experts' opinions as to how many examples survive of a particular coin in all grades. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.
Learn more at PCGS.
PCGS Rarity Scale: 8.8
? The 'PCGS CoinFacts Rarity Scale' assesses the relative rarity of all U.S. coins, based on estimated surviving examples. The scale runs from 1.0 to 10.0. The higher the number, the rarer the coin.
Learn more at PCGS.
Click HERE to check for availability on eBay**

Preview of eBay selection (you'll probably have to check back on the 1823 quarter to find one):

rare date 1823 Capped Bust quarter, 3/2
Trendline Avg = 14.23 GOOD
Last updated 4-9-24
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1. Bama, I.R., The Phrygian Cap: Seldom Discussed Symbols On U.S. Coins in Numismatics.   American Numismatic Association.   July 17, 2020.

2. Heritage Auctions.  1823/2 Quarter, B-1, XF45.  Aug 2021 Auction.

3. Stack's Bowers Galleries.  Famous Key Date 1823/2 Quarter Dollar.  May 2015 Auction.

**Many very fine coin dealers sell on eBay. At any point in time, there may be over one million search results for United States coins. This includes quite a few of the recommendations on our Key Date Coin List.

If you’re thinking about purchasing a rare coin, eBay is certainly worth a look. For your convenience, the links from this site to eBay are coded to bring up only coins certified by PCGS and NGC.

As is always, always the case, never buy a valuable coin from a seller whose trustworthiness cannot be verified. Learn more about this at our chapter Best Places to Buy Coins, which also has a section on doing business on eBay.

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Coin images by Stack's Bowers Galleries.