Collecting rare coins is a fascinating hobby, and one type that attracts collectors is the historic quarter dollar. Recently, an early 1823/2 Capped Bust quarter dollar, an extremely rare coin with a unique history, made headlines due to its impressive sale price. Coins like these provide a glimpse into the past and are highly valued for their rarity, distinctive features, and the historical context they represent. In this article, we’ll explore the features, history, and significance of Jon Lusk’s 1823/2 Capped Bust quarter dollar, including what makes it valuable to collectors.
History of the 1823/2 Capped Bust Quarter Dollar
| Feature | Description |
|---|---|
| Coin Name | 1823/2 Capped Bust Quarter Dollar |
| Mintage | 17,800 pieces |
| Grading | Very Good 8 (PCGS) |
| Sale Price | $44,400 |
| Minting Location | Philadelphia Mint |
| Date Error | “2” is visible under the “3” in 1823 |
| Defective Feature | Lower arrowhead on the reverse |
| Obverse | Capped Bust design, with the date 1823/2 |
| Reverse | Eagle with defective lower arrowhead |
| Die Pairing | The same reverse die was used until 1828 |
| Provenance | Traced back to 1959 |
| Condition | Antique-grey surfaces with gold toning |
| Historical Significance | A rare and important coin from the early years of the United States Mint |
A Rare Date and Production Background
In 1823, the Philadelphia Mint produced only five coin denominations, including the quarter dollar. The specific 1823/2 Capped Bust quarter dollar is especially rare, partly due to its low mintage of just 17,800 pieces. Notably, some of these pieces may even carry a date from 1822, making them even more unique.
Notable Features: The 2 Over 3 and the Defective Arrowhead
Collectors value this quarter dollar because it features a noticeable error in the date, where a “2” is seen underneath the “3” in 1823. Additionally, the reverse of the coin displays a defective lower arrowhead, a detail that can be found on all authentic examples. This unique reverse die was used until 1828, adding historical significance.
The Value of Jon Lusk’s Quarter Dollar
A Highly Graded Coin
Jon Lusk’s early quarter dollar, graded Very Good 8 by the Professional Coin Grading Service (PCGS), sold for an impressive $44,400. The coin was recognized for its “antique-grey surfaces” and “gold toning,” making it especially attractive to collectors. Its condition is moderate compared to other surviving coins, but its history and features make it valuable.
Provenance and Historical Value
Provenance, or the history of ownership, can significantly influence a coin’s value. This coin’s record goes back to 1959, establishing its authenticity and importance. Collectors often value coins with clear provenance as they add a sense of continuity and connection to history.
Why Collectors Prize the 1823/2 Capped Bust Quarter Dollar
Low Mintage and Historical Context
With a mintage of only 17,800, the 1823/2 quarter is one of the rarer coins from that time. It represents a period of American history when the Philadelphia Mint was the sole minting institution in the United States, making each coin a product of early American minting.
Unique Design and Minting Errors
The minting error in the date and the defective arrowhead are details that add character to the 1823/2 quarter dollar. Coins with minting errors or anomalies often attract collectors because of their rarity and unique stories.
Conclusion
The 1823/2 Capped Bust quarter dollar is a treasured piece of numismatic history, valued for its rarity, distinctive features, and historical context. Collectors like Jon Lusk recognize the significance of such coins, with some paying thousands of dollars for well-preserved pieces. The demand for coins like this shows that numismatics is more than a hobby; it’s a way to preserve and celebrate history. Whether you’re a new collector or a seasoned expert, coins like the 1823/2 quarter dollar offer a fascinating glimpse into the past.
FAQs
1. What makes the 1823/2 Capped Bust quarter dollar so valuable?
The 1823/2 Capped Bust quarter dollar is valuable due to its rarity, with only 17,800 pieces minted. It also features a distinctive error in the date where the “2” is visible beneath the “3” and a defective arrowhead on the reverse, making it highly sought after by collectors.
How much did the 1823/2 Capped Bust quarter dollar sell for?
Jon Lusk’s 1823/2 Capped Bust quarter dollar was sold for $44,400, thanks to its unique features and high grade of Very Good 8 by the Professional Coin Grading Service (PCGS).
What is the historical significance of the 1823/2 quarter dollar?
The 1823/2 quarter dollar was minted in Philadelphia, the only mint in the United States at the time. Coins from this period are valuable not only because of their rarity but also because they represent early American coinage.
How can I tell if my quarter dollar is an authentic 1823/2 Capped Bust?
Authentic 1823/2 Capped Bust quarter dollars have the “2” visible under the “3” in the date and a distinct defective arrowhead on the reverse. The reverse die was used until 1828, and all genuine coins from this year feature these same traits.
What is coin grading, and how does it affect the value?
Coin grading is a system used to assess the condition of a coin. The higher the grade, the more valuable the coin typically is. The 1823/2 Capped Bust quarter dollar in Jon Lusk’s collection was graded Very Good 8, which helped set its high sale price.