Even common coins might become historical talismans for collectors. Numismatic nerds can (and do) predict a coin's future by perceiving even the slightest characteristics as huge reasons to collect it.
Coin collectors can tell stories about "die error" coins, which can be valuable, and missing mint markings, which can result in high auction prices. An extra tree, semi-exposed chest, or oddly placed buffalo limb are likely to catch their attention. Some legends are born, not produced.
A rare 1820s quarter is a legend because to its rarity and inherent inaccuracy in the date inscribed on each piece. Every 1823 "capped bust" quarter is overdated, meaning one year is printed over another.
Due to this flaw and its tiny mintage, the 1823/2 Capped Bust quarter has always been rare. Due to its exclusive reputation, the coin has an auction history that may motivate even casual collectors to become exceptional coin investigators.
An overdate with destiny Capped Bust quarters were designed by German immigrant John Reich in 1823. Reich introduced the Capped Bust to U.S. coins.
All Reich capped bust coins include Lady Liberty on the obverse (heads) carrying a handkerchief with the phrase freedom. She wears a Phrygian cap, often known as a "red cap of liberty" or liberty cap, popularized by French revolutionaries in the late 18th century.
Even if it's classically symbolic, the capped bust doesn't make this quarter uncommon and expensive. Misprinted numerals under Liberty's capped bust make 1823 over 2 (also written 1823/2) Capped Bust quarters highly sought after.
The US Mint overdated the new quarter using an old die in 1823. To produce 1823 Capped Bust quarters, the "3" was hand-stamped over the 1822 coin die instead of utilizing a new die.
The shadow of the "2" battling for its historic life beneath the final digit of 1823/2 Capped Bust quarters makes it look like a "3" with flair. If one is lucky enough to witness such a particular quarter, the naked eye can see this seemingly minor element.
Value of 1823/2 Capped Bust quarter The 1823/2 Capped Bust quarter's value depends on many aspects, but rarity is crucial. The coin's already tiny mintage includes only 1,800 quarters with the overdate problem, according to experts.
No matter how many coins have the overdate, few are still in circulation. The coins that do survive can be worn, making it difficult to find one in a condition attractive to collectors paying top cash.
PCGS estimates that just 31 of the 1823/2 normal striking coins (circulation coins, not proof coins) remain, with two in museum collections.
One overdated coin proof has been off the market since 2014. The proof coin sold for $396,563 on PCGS, but the normal strike prices are also astonishing.