The 1848 Liberty Head Quarter Eagle is a rare piece of American history and a must-have for serious coin collectors. This coin was minted at a pivotal moment when gold was discovered in California, sparking the famous Gold Rush. In this guide, we’ll explore the history, design, and value of the 1848 Liberty Head Quarter Eagle, including insights into its rare “CAL.” variety.
Why 1848 Was a Pivotal Year for U.S. Gold Coins
The year 1848 was monumental for the U.S. economy due to the discovery of gold at Sutter’s Mill in California by James W. Marshall. This discovery led to the Gold Rush, which significantly impacted the United States, with thousands moving west in search of fortune. Transporting gold from California to the eastern mints was challenging, which led the U.S. government to establish systems to mint coins from this new gold supply.
Most of the nation’s coins were minted at the Philadelphia Mint, including the 1848 Liberty Head Quarter Eagle. Below is a table that shows the types of coins and their mintages produced at the Philadelphia Mint in 1848.
| Coin Type | Mintage |
|---|---|
| Braided Hair Cent | 6,415,799 |
| Liberty Seated Half Dime | 668,000 |
| Liberty Seated Dime | 451,500 |
| Liberty Seated Quarter | 146,000 |
| Liberty Seated Half Dollar | 580,000 |
| Liberty Seated Dollar | 15,000 |
| Liberty Head Quarter Eagle | 6,500 |
| Liberty Head Quarter Eagle (CAL.) | 1,389 |
| Liberty Head Half Eagle | 260,775 |
| Liberty Head Eagle | 145,484 |
As shown, the Philadelphia Mint produced a wide range of coins, including cents, dimes, quarters, and various gold coins. The Liberty Head Quarter Eagle had a very limited mintage, with only 6,500 standard coins and a rare 1,389 coins stamped with the “CAL.” designation.
Design of the 1848 Liberty Head Quarter Eagle
The 1848 Liberty Head Quarter Eagle was designed by Christian Gobrecht, featuring a simple yet elegant design that represents liberty and American ideals. Here’s a quick look at its key features:
- Obverse (Front): Liberty’s head with a small tiara inscribed “LIBERTY,” surrounded by thirteen stars representing the original colonies.
- Reverse (Back): An eagle with wings spread, clutching arrows and an olive branch, symbolizing strength and peace. The rare “CAL.” mark appears above the eagle’s head on the unique California-gold version.
- Edge: Reeded, adding texture to the coin’s edge.
What Makes the 1848 Liberty Head Quarter Eagle Unique?
The 1848 Liberty Head Quarter Eagle is rare in any condition, but it has a special place in U.S. coin history due to the “CAL.” variety. In December 1848, a small number of these coins were made with gold from California, stamped with “CAL.” above the eagle’s head to signify this origin. These coins are historically significant, and their rarity adds to their appeal among collectors.
Collectors value the 1848 Liberty Head Quarter Eagle for its historical ties and limited mintage, making it a rare find, especially in higher grades.
Value of the 1848 Liberty Head Quarter Eagle
The value of the 1848 Liberty Head Quarter Eagle depends largely on its grade, eye appeal, and whether it is the rare “CAL.” version. Here’s a general idea of its worth:
- Standard Quarter Eagle: In circulated grades like XF (Extra Fine) to low AU (Almost Uncirculated), these coins range from $1,200 to $2,000.
- “CAL.” Variety: The “CAL.” Liberty Head Quarter Eagle is highly prized, especially in Mint State. In recent auctions, high-grade examples have fetched tens of thousands of dollars.
Market Data: Notable Sales of the 1848 Liberty Head Quarter Eagle
Collectors keep an eye on auction sales of rare 1848 Liberty Head Quarter Eagles, especially those in top condition. Here are a few notable sales for high-grade examples:
| Grade & Certification | Sale Price | Auction Date & Lot |
|---|---|---|
| NGC MS64 | $20,700 | September 2005, Lot 1106 |
| NGC MS63 | $12,000 | January 2019, Lot 4621 |
| PCGS MS62 | $7,480 | August 1996, Lot 8167 |
These high-grade coins typically have unique marks, like striations or minor scratches, which add to their character. The rarer “CAL.” version holds particular appeal for those seeking a historical connection to California’s first gold discovery.
Conclusion
The 1848 Liberty Head Quarter Eagle is not only a rare collectible but a significant artifact from the Gold Rush era. Its limited mintage, particularly the unique “CAL.” variety, makes it a fascinating coin for collectors who appreciate American history and numismatics. Collecting coins like this offers a window into the past, preserving a piece of the American Gold Rush story and symbolizing the nation’s growth and expansion westward.
FAQ’s
What makes the 1848 Liberty Head Quarter Eagle so special?
The 1848 Liberty Head Quarter Eagle is unique because of its low mintage and the rare “CAL.” variety, stamped with California gold from the Gold Rush. This special edition adds historical value and is highly sought after by collectors.
How much is the 1848 Liberty Head Quarter Eagle worth?
The value of an 1848 Liberty Head Quarter Eagle varies based on condition and type. The standard coin in circulated grades can sell between $1,200 to $2,000, while the rare “CAL.” variety can be worth much more, especially in higher grades.
Where was the 1848 Liberty Head Quarter Eagle minted?
The 1848 Liberty Head Quarter Eagle was minted in Philadelphia. Some coins made from California gold were counter-stamped “CAL.” to indicate their unique origin.