The year 1848 was significant for U.S. history and coin collecting alike. It marked a major milestone when gold was discovered by James Wilson Marshall at Sutter’s Mill in California, sparking the famous Gold Rush.
As thousands flocked to the western territories to seek their fortune, this newfound abundance of gold presented Congress with a critical question: how to efficiently transport this precious metal to mint coins and support economic growth across the United States.
Challenges of Coin Production in 1848
Before the Gold Rush, transporting gold from California to the Philadelphia Mint on the East Coast was costly, risky, and time-consuming.
While small quantities of gold from California occasionally reached the eastern mints, the discovery at Sutter’s Mill in 1848 opened the floodgates, rapidly increasing the supply of raw gold for minting coins.
Philadelphia Mint Coin Production in 1848
Philadelphia Mint, responsible for producing a majority of the nation’s coins, stepped up in 1848 to mint various denominations. Here’s a breakdown of some coins struck that year:
| Coin Type | Mintage |
|---|---|
| 1848 Braided Hair Cent | 6,415,799 |
| 1848 Liberty Seated Half Dime | 668,000 |
| 1848 Liberty Seated Dime | 451,500 |
| 1848 Liberty Seated Quarter | 146,000 |
| 1848 Liberty Seated Dollar | 15,000 |
| 1848 Liberty Head Quarter Eagle (Plain) | 6,500 |
| 1848 Liberty Head Quarter Eagle (CAL.) | 1,389 |
| 1848 Liberty Head Half Eagle | 260,775 |
| 1848 Liberty Head Eagle | 145,484 |
As seen, the 1848 Liberty Head Quarter Eagle coin is notable for its low mintage, making it rare and highly sought-after by collectors.
The Rare 1848 “CAL.” Liberty Head Quarter Eagle
Among the 1848 Liberty Head Quarter Eagles, a special batch of 1,389 coins was struck from California gold deposited by California Military Governor Richard Mason.
This group of coins was unique because they were stamped with “CAL.” above the eagle’s head on the reverse side. This small detail has made the 1848 “CAL.” Liberty Head Quarter Eagle is one of the most iconic coins in American numismatic history.
Interestingly, even though fewer “CAL.” coins were minted, they are often found in better condition (Mint State) than the regular “Plain” version. Many collectors value the “CAL.” version highly, as it serves as a tangible piece of the Gold Rush era.
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Why the 1848 Liberty Head Quarter Eagle is So Valuable
The scarcity of the 1848 Liberty Head Quarter Eagle (especially the plain version) makes it valuable, but so does its historical context. As the Gold Rush swept across the country, it transformed the economy, and politics, and even led to tensions that would later culminate in the Civil War. This coin captures that moment in history, making it more than just a piece of currency.
Collectors often pay between $1,200 and $2,000 for coins in circulated grades, particularly those in the XF to low AU range. The value of these coins can rise significantly depending on the condition and appeal, with certain rare specimens reaching prices as high as $20,700 at auction.
Famous 1848 Liberty Head Quarter Eagle Specimens and Market Data
The 1848 Liberty Head Quarter Eagle remains a prized collector’s item today, with specific specimens fetching impressive sums at auctions. Here are some noteworthy examples:
- NGC MS64: Sold for $20,700 in 2005 with minor marks on the coin’s obverse and reverse.
- NGC MS63: Auctioned for $12,000 in 2019, bearing slight scratches and ticks.
- PCGS MS62: Known for a distinct diagonal cut below the stars and minor marks, showing up in several auctions, valued around $7,480.
Collectors often track these coins by their grades, such as MS62 or MS63, which denote the coin’s condition and, ultimately, its market value.
Specifications of the 1848 Liberty Head Quarter Eagle
For collectors interested in the technical details, here are the specifications of the 1848 Liberty Head Quarter Eagle:
| Specification | Detail |
|---|---|
| Country | United States of America |
| Year of Issue | 1848 |
| Denomination | $2.50 (USD) |
| Mintmark | None (Philadelphia Mint) |
| Mintage | 6,500 (plain) |
| Alloy | 90% Gold, 10% Copper |
| Weight | 4.18 grams |
| Diameter | 18.00 mm |
| Edge | Reeded |
| Designer (Obverse/Reverse) | Christian Gobrecht |
| Quality | Business Strike |
The 1848 Liberty Head Quarter Eagle is not only a rare coin but a piece of American history, reminding us of the transformative era of the Gold Rush and its impact on the country.
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Conclusion
Owning an 1848 Liberty Head Quarter Eagle, particularly the rare “CAL.” version, is like holding a piece of the American Gold Rush in your hand. This coin remains a testament to an era that reshaped the United States and captures the spirit of a time when people chased their fortunes in the Western territories.
With its historical significance and scarcity, this coin continues to hold strong appeal for collectors and enthusiasts alike.
Editorial Note: This article was created through automated technology, with all details verified and polished by our editorial expert.