Lot 3328
1808 $2.50 Capped Bust. . BD-1, Breen-6125. NGC graded AU-58. Popular first year type coin. 2,710 struck. According to numismatic researcher William T. Gibbs, "On the obverse, Liberty faces left, wearing a soft headgear that resembles a nightcap, inscribed LIBERTY on the headband. Her bust is lightly draped (the cap and drapery give the coin one of its names).
Seven six-pointed stars appear in front of Liberty's face, with six stars behind her head. The star at the lower right, the 13th (counting clockwise from the lower left), is notched on the point that points to the dentils. The stars in the same position on other designs and denominations of that era are also notched in the same way, even when from different punches. Researchers believe [mint engraver John] Reich "signed" his dies in that unusual way.
The reverse introduced on the half eagle in 1807 and on the quarter eagle in 1808 features an eagle with wings outspread, head turned to look over its right shoulder. It grasps an olive branch (representing peace) in its right talons and a bundle of three arrows in its left talons (representing war). The eagle's gaze in the direction of the olive branch implies heraldically a preference for peace rather than for war. A shield rests upon the eagle's breast.
The denomination appears below (the first denominations to appear on U.S. gold coins; the earlier gold coins bear no denominational markings). On the quarter eagle, it appears as 2 1/2 D.
Similarities and differences. Reich recreated the $5 designs for the smaller denomination in 1808. A comparison of an 1808 Capped Bust Left quarter eagle to any of the Capped Bust Left half eagles reveals minor design differences between the two.
A lovely About Uncirculated 58 specimen, and worthwhile acquisition by any standard, the luster is somewhat timid around the main devices, but clearly present, while pale golden color blossoms on both sides. The strike, like the luster, is more than adequate for what is often a poorly struck issue, indeed, as bold as even some higher grade specimens of the date sold in recent years. Pop 13; 16 finer.
Estimated Value $75,000 - 80,000.
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| Realized $89,125 |
