1818 Capped Bust Quarter NGC MS65
As the second quarter design introduced by the U.S. Mint, the Capped Bust holds an important role in the history of U.S. coinage. As the second year in which the Capped Bust Quarter was minted, only 361,174 examples were struck. Out of all 1818 examples graded, only 44 have been given the grade Mint State 65, and only 17 have been graded higher.
Designed by engraver John Reich as an update to the earlier Draped Bust quarter, the Capped Bust Quarter consists of 89.2% silver and 10.8% copper. The obverse features Lady Liberty wearing a Phrygian cap, which has become symbolic of freedom, and the word “LIBERTY” inscribed above her head. She is framed by thirteen stars, which represent the original thirteen colonies. On the reverse is an American bald eagle clutching a set of arrows in one talon and an olive branch of peace in the other. The head of the eagle is turned towards the olive branch, signifying America’s preference for peace over war.
There are many varieties of the 1818 Capped Bust Quarter and this specific example is known as Variety 2. This variety is characterized by the wide date across the bottom, as well as the noticeable die crack on the obverse just above Lady Liberty’s head. Eventually the overuse of a die will result in a splitting of the metal. As the damaged die is used to produce more coins, the metal of the coin will fill in the crack, creating a small raised line of metal on the finished coin. This phenomenon is known as a die crack. Although die cracks are imperfections, they add character and variety to early American coins, making them highly prized by numismatists.
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