1808 Capped Bust Left Quarter Eagle. BD-1, the only known dies. Rarity-4. AU-58 (PCGS). Offered is an outstanding example of this classic one-year type in the early U.S. gold series. Warm honey-olive color is a bit deeper on the reverse, where iridescent reddish-rose overtones provide further appeal. The texture is satiny overall and quite smooth for an issue that, when offered at all, is typically noticeably marked. The strike is sharp for this type, especially over the focal points in and around the centers. The eye appeal is strong at the assigned grade level, with just a trace of high point rub separating the coin from Mint State. An impressive piece that will appeal to advanced type collectors and early gold specialists. BD Die State b.<p>One of the most eagerly sought issues among classic United States Mint gold coins, the 1808 is the only quarter eagle of the Capped Bust Left design. This type is credited to Assistant Engraver John Reich, whose "signature" is evident as a tiny notch on the outermost point of star 13 on the obverse. The Mint first used Reichs design in 1807 on the half dollar and half eagle, those being the most popular silver and gold denominations with bullion depositors. The quarter eagle, however, was not nearly as popular, and comparatively few examples were struck from the denominations introduction in 1796 until 1834. In fact, the 1808 proved to be the final quarter eagle struck at the Mint until 1821, in which year the Capped Head Left motif replaced Reichs Capped Bust Left design.<p>The mintage of the 1808 quarter eagle was only 2,710 pieces, and attrition through melting was high, as was the case with all pre-1834 U.S. gold coins. According to John W. Dannreuther (<em>Early U.S. Gold Coin Varieties: A Study of Die States, 1795-1834</em>), only 125 to 150 examples are extant in all grades. Such a limited population in no way meets the demand for attractive, high grade 1808 quarter eagles, and examples such as that offered here rarely remain on the market for long. Indeed, we anticipate strong competition for this significant rarity, and urge interested parties to prepare to bid strongly. From the Pieper Collection.
