1828 Capped Bust Quarter Value Guide (Normal & 25/50C Variety)
1828 Capped Bust Quarter values: $195-$150,000 for normal dates, $2,000-$282,000 for 25/50C variety. Grading guide, Browning varieties, authentication tips, and recent auction records.
The 1828 Capped Bust Quarter is worth $195 to $282,000 depending on condition and variety.
- Circulated (Normal Date): $195 – $2,550 (G-4 through AU-50)
- Uncirculated (Normal Date): $5,750 – $150,000 (MS-62 through MS-67)
- 25/50C Variety (B-3): $2,000 – $282,000 (rare R-5 die variety)
- Proof strikes: $75,000+ (10-12 pieces estimated)
This final year of the Large Diameter design commands significant premiums in mint state, with the 25/50C variety representing one of early American numismatics' most fascinating errors.
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1828 Capped Bust Quarter: Final Year of a Classic Design
The 1828 Capped Bust Quarter represents the final year of the Large Diameter design, a series that began in 1815 under the hand of assistant engraver John Reich. With a business strike mintage of just 102,000 pieces from the Philadelphia Mint—more than 30 times lower than the 3,075,200 half dollars produced that same year—this date reflects the quarter dollar's limited commercial role in early 19th-century America. The coin is prized by collectors in three distinct categories: normal date business strikes (worth $195 to $150,000 depending on condition), the rare 25/50C variety where the denomination was punched over an erroneous "50 C." ($2,000 to $282,000), and exceptionally rare proof strikes with an estimated mintage of only 10-12 pieces ($75,000+). While circulated examples of the normal date are accessible to collectors, mint state specimens are scarce, and gems are decidedly rare. This guide covers identification, grading, die variety attribution using the Browning system, authentication, and current market values based on certified auction records.
The 1828 Capped Bust Quarter, final year of the Large Diameter design
How to Identify Your 1828 Capped Bust Quarter
Accurate identification begins with understanding the design elements and confirming authenticity through physical specifications. All 1828 quarters were struck at the Philadelphia Mint and therefore carry no mint mark. The absence of a mint mark is not a defect—it is the standard for all Philadelphia issues of this era.
Obverse Design: The obverse features a left-facing bust of Liberty wearing a cloth mobcap secured by a band inscribed with the word LIBERTY. Her hair flows down to her shoulder, where drapery is secured by a clasp. The portrait is encircled by thirteen six-pointed stars—seven to the left and six to the right—with the date 1828 centered below.
Reverse Design: The reverse displays a heraldic eagle with a Union shield on its breast. The eagle clutches an olive branch in its right talon and a bundle of three arrows in its left talon. The legend UNITED STATES OF AMERICA appears along the upper periphery, and the denomination 25 C. is positioned below the eagle. A scroll inscribed with E PLURIBUS UNUM appears above the eagle's head.
All 1828 quarters were struck at Philadelphia and carry no mint mark
Physical Specifications: Genuine 1828 quarters should weigh very close to 6.74 grams, measure approximately 27 mm in diameter, and feature a reeded edge. The composition is 89.24% silver and 10.76% copper, giving the coin an actual silver weight of 0.1933 troy ounces. These specifications can help distinguish authentic pieces from counterfeits or foreign issues of similar appearance.
Die Variety Identification: All 1828 quarters are cataloged using the Browning attribution system developed by Ard W. Browning. Four die marriages are known: B-1 (most common, Rarity-1), B-2 (uncommon, Rarity-2), B-3 (the famous 25/50C variety, Rarity-5), and B-4 (scarce, Rarity-3). The B-3 variety is unmistakable—clear remnants of "50 C." are visible beneath the "25 C." on the reverse, where a "2" was punched over the "5" and a "5" was punched over the "0." This occurred when a 1822-dated reverse die, originally blundered for a half dollar, was retrieved from storage and paired with an 1828 obverse. Distinguishing between B-1, B-2, and B-4 requires consultation with specialized references such as Browning's The Early Quarter Dollars of the United States or Steve Tompkins' Early United States Quarters, 1796-1838, as diagnostics involve subtle die markers not detailed in general references.
1828 Capped Bust Quarter Value Guide
The market for 1828 quarters is distinctly segmented by strike type and die variety. Normal date business strikes represent the most accessible entry point, while the 25/50C variety commands substantial premiums at all grade levels, and proof strikes are landmark rarities. Values are based on certified auction results and major grading service price guides current as of October 2025.
Business Strike Prices (Normal Date: B-1, B-2, B-4)
Circulated examples of the normal date are reasonably available to collectors, but the population narrows significantly in higher grades. PCGS estimates only 30 examples survive in Mint State 60 or better, with a mere 6 specimens at the Gem MS-65 level or higher. This condition rarity drives exponential value increases for top-tier pieces.
| Grade | NGC Guide (Jan 2024) | PCGS Guide (Oct 2025) |
|---|---|---|
| G-4 | $195 | $225 |
| VF-20 | $1,000 | $700 |
| EF-40 | $1,800 | $1,750 |
| AU-50 | $2,550 | $2,500 |
| MS-62 | $5,750 | $6,000 |
| MS-63 | $8,000 | $9,500 |
| MS-64 | $16,000 | $17,500 |
| MS-65 | $40,000 | $40,000 |
| MS-66 | $90,000 | $90,000 |
| MS-67 | $137,500 | $150,000 |
Notable Auction Results (Normal Date):
- $111,625 — PCGS MS-66+ (Stack's Bowers, July 2015)
- $108,687 — NGC MS-67 (Heritage, June 2015)
- $49,938 — PCGS MS-66 (Heritage, February 2013)
- $41,125 — PCGS MS-65 (Stack's Bowers, May 2015)
- $17,625 — PCGS MS-64 (Heritage, April 2015)
- $17,625 — PCGS MS-63 (Stack's Bowers, July 2013)
- $7,050 — NGC MS-62 (Heritage, April 2013)
- $2,040 — NGC AU-50 (Stack's Bowers, March 2021)
- $1,440 — PCGS EF-40 (Stack's Bowers, April 2025)
- $588 — PCGS VF-20 (Heritage, December 2020)
Key Variety: 1828 25/50C (Browning-3)
The 25/50C variety is the rarest and most valuable of the 1828 business strikes, classified as Rarity-5 with an estimated surviving population of just 87 coins across all grades according to PCGS. The variety originated when a reverse die first used in 1822 was retrieved from storage after six years. The die had been blundered when an engraver mistakenly punched "50 C." before correcting it to "25 C." This act of frugality—reusing a damaged die rather than creating a new one—produced one of early American numismatics' most celebrated varieties.
The rare B-3 variety showing '50 C.' beneath '25 C.'
| Grade | PCGS Guide (Oct 2025) |
|---|---|
| G-6 | $2,000 |
| F-12 | $3,000 |
| VF-20 | $4,000 |
| EF-40 | $8,500 |
| AU-58 | $15,000 |
| MS-62 | $35,000 |
| MS-63 | $110,000 |
| MS-67 | $282,000 |
Notable Auction Results (25/50C Variety):
- $282,000 — MS-67 (Heritage, May 2015) — Auction Record
- $82,250 — PCGS MS-63, D. Brent Pogue Collection (Stack's Bowers, May 2015)
- $72,000 — PCGS MS-63 (Heritage, February 2023)
- $21,600 — PCGS MS-62 (Heritage, February 2024)
- $11,700 — PCGS AU-58 (Heritage, January 2019)
- $5,875 — PCGS EF-40 (Heritage, September 2016)
- $4,560 — PCGS F-12 (Heritage, May 2024)
- $2,760 — PCGS VF-25 (Heritage, August 2024)
- $1,202 — PCGS G-06 (GreatCollections, March 2020)
Proof Strikes
Proof 1828 quarters are among the most coveted issues in all of early American numismatics. Struck as presentation pieces with polished dies and specially prepared planchets, their original mintage is estimated at only 12 pieces, with fewer than 10 believed to survive today. These coins rarely appear on the market and typically surface as highlights of major named-collection auctions.
| Grade | NGC Guide (2016) | PCGS Guide (Oct 2025) |
|---|---|---|
| PR-63 | — | $75,000 |
| PR-64 | $80,000 | $145,000 |
| PR-65 | $90,000 | $175,000 |
| PR-66 | $190,000 | $225,000 |
Notable Proof Auction Results:
- $192,500 — PCGS PR-65 with CAC approval (Dealer Asking Price)
- $82,250 — NGC PR-66 (Heritage, June 2014)
- $64,625 — PCGS PR-66 (2016)
- $63,250 — PCGS PR-64 (Heritage, May 2008)
- $28,800 — PCGS PR-63 (Heritage, July 2018)
Melt Value Context: With a silver content of 0.1933 troy ounces and a spot price of approximately $48.85 per troy ounce (as of October 30, 2025), the intrinsic melt value is approximately $9.45. The lowest collectible grade (G-4) at $195 represents more than 20 times the bullion value, demonstrating that the 1828 quarter is a purely numismatic asset driven by collector demand, historical significance, rarity, and condition rather than precious metal content.
Grading the 1828 Capped Bust Quarter
Proper grading requires identifying the first areas to show friction from circulation and distinguishing between a weak strike and actual wear—a critical skill for this early series where weak strikes are common even on uncirculated examples.
Grade progression from Good-4 to Mint State-65
Obverse Wear Points: The highest points are the hair above Liberty's forehead and ear, the shoulder clasp, and the drapery on her bust. In circulated grades, these areas will show progressive flattening. In Good-4, Liberty's hair detail is mostly worn away, though the date remains clear. By Very Fine-20, moderate wear is evident but major design elements remain visible with partial hair detail. Extremely Fine-40 shows light wear on the high points with most detail intact. About Uncirculated-50 exhibits only slight friction on the highest points with nearly full luster remaining in protected areas.
Reverse Wear Points: Check for flatness on the eagle's head, its claws gripping the olive branch and arrows, and the tail feathers directly below the Union shield. The shield's vertical lines and the feather details are among the first areas to show wear. In mint state examples, all feathers should show full definition with no smoothing or dulling of the surfaces.
First areas to show wear on obverse and reverse
Strike Quality vs. Wear: A weakly struck but uncirculated coin will retain its original mint luster in the protected fields even if the high points are not fully defined. The metal will have a fresh, unblemished appearance with cartwheel effect when tilted under light. A circulated coin, conversely, will show a dulling or smoothing of the surfaces on its high points where luster has been worn away through handling. The fields may appear scuffed or show contact marks. This distinction is crucial because a weakly struck MS-63 can be worth significantly more than a strongly struck AU-55.
Understanding the difference between weak strike and wear
Mint State Grading: Uncirculated examples are graded MS-60 through MS-70 based on the quality and quantity of contact marks, eye appeal, luster, and strike. MS-60 to MS-62 will show numerous contact marks but no actual circulation wear. MS-63 to MS-64 have fewer marks and better overall eye appeal. MS-65 (Gem) is a significant threshold where marks are minimal and luster is exceptional. MS-66 and higher are condition rarities with only 6 examples estimated to exist at the MS-65+ level for the normal date. The MS-67 specimens that have sold for over $100,000 represent the finest known survivors of this issue.
Proof Grading: Proof strikes are graded PR-60 through PR-70 based on similar criteria but with consideration for the mirror-like fields and frosted devices characteristic of proof manufacture. Surface preservation is paramount—hairlines from improper wiping or storage can significantly impact grade and value.
Die Varieties and the Browning Attribution System
All 1828 Capped Bust Quarters are cataloged using the system developed by numismatist Ard W. Browning in his landmark work The Early Quarter Dollars of the United States. Each die marriage is assigned a "Browning" or "B" number based on diagnostic features visible on the coin. Four varieties are documented for 1828, each with distinct characteristics and rarity levels.
Browning-1 (B-1)
Rarity: R-1 (Common)
Description: This is the most frequently encountered die marriage of 1828, representing the majority of surviving examples. Specific die diagnostics that distinguish B-1 from B-2 and B-4 involve the precise positioning of stars, letters, and date numerals relative to denticles and design elements. These require comparison with high-resolution images in specialized references.
Market Impact: B-1 examples trade at standard market prices for the "normal date" category.
Browning-2 (B-2)
Rarity: R-2 (Uncommon)
Description: Slightly scarcer than B-1 but not commanding significant premiums in typical circulated grades. The variety is identifiable through specific die markers not detailed in general references. Advanced collectors working on Browning variety sets may pay modest premiums for certified examples with variety attribution.
Market Impact: Minor premium over B-1 in higher grades when attributed.
Browning-3 (B-3) — The Famous 25/50C Variety
Rarity: R-5 (Rare)
Description: This is the most celebrated variety of the entire Capped Bust quarter series. The reverse die was originally created in 1822 when an engraver mistakenly punched "50 C." before realizing the error and correcting it to "25 C." The rusted die sat in storage for six years before being paired with an 1828 obverse, presumably due to a shortage of serviceable dies. PCGS estimates a surviving population of only 87 coins across all grades.
Diagnostics: The variety is unmistakable even to the naked eye. Clear remnants of "50 C." are visible beneath the "25 C." denomination. A "2" is punched over the "5," and a "5" is punched over the "0." Under magnification, both denominations are clearly discernible.
Market Impact: The B-3 commands substantial premiums at all grade levels. Even heavily worn examples in Good-6 are worth $2,000, while mint state specimens have realized over $280,000 at auction. This variety is a must-have for advanced type collectors and specialists in early quarters.
Browning-4 (B-4)
Rarity: R-3 (Scarce)
Description: This variety is scarcer than B-1 and B-2 but does not approach the rarity of B-3. It represents a desirable challenge for variety collectors. As with B-1 and B-2, precise diagnostics require consultation with specialized literature including Browning's original work or Steve Tompkins' updated reference Early United States Quarters, 1796-1838.
Market Impact: B-4 examples may command modest premiums when attributed, particularly in mint state grades where scarcity becomes more pronounced.
💡 Attribution Resources
For detailed diagnostic information on distinguishing B-1, B-2, and B-4, consult Ard W. Browning's The Early Quarter Dollars of the United States or Steve Tompkins' Early United States Quarters, 1796-1838. Both PCGS and NGC offer variety attribution services for an additional fee if you believe you have a scarce die marriage.
Authentication and Counterfeit Detection
Authentication of genuine 1828 Capped Bust Quarters relies on verifying key physical and design characteristics. Counterfeit detection is particularly important for this series given the high values commanded by mint state and proof examples.
Physical Specifications: A genuine coin should weigh very close to 6.74 grams. Use a precision scale accurate to 0.01 grams. The diameter should measure approximately 27 mm, and the edge must be reeded (not smooth or lettered). Any significant deviation from these specifications warrants immediate suspicion.
Design Elements: The style of the lettering and date numerals should be carefully compared to high-resolution images of certified examples. The dies used in this era were hand-finished but maintained a consistent house style that is often poorly replicated on forgeries. Pay particular attention to the shape of the 8s in the date, the serif details on letters, and the star punches. Genuine examples will show natural die flow lines and subtle die polish marks that are difficult to counterfeit.
Weak Strike Considerations: Many genuine 1828 quarters exhibit a weak strike in certain areas, particularly on the eagle's claws and Liberty's hair curls. This should not be mistaken for wear or evidence of a counterfeit. A weak strike will show soft detail but the metal will still have original mint texture. Counterfeits attempting to simulate this effect typically show unnaturally smooth surfaces or pitting from casting.
Identifying cleaned surfaces that reduce value
Cleaned Coin Detection: The most common indicator of an abrasive cleaning is the presence of fine, parallel hairline scratches across the coin's fields. These are best seen when tilting the coin under a single, direct light source. Other red flags include an unnaturally bright or dull, lifeless surface with no remaining mint luster, and residual dirt or toning packed into the crevices around stars and letters while the open fields appear scrubbed. Harshly cleaned coins may also show rounding of the highest design points where metal has been removed.
Value Impact of Problems: Coins deemed to have been cleaned, damaged, or altered by grading services receive a "Details" grade rather than a numerical grade. This designation significantly impairs value, often reducing it by 50% or more compared to a problem-free coin of equivalent wear. While many purists avoid Details-graded coins entirely, some collectors find attractively retoned pieces with a history of light cleaning to be an affordable way to acquire a rare date.
⚠️ When to Buy Certified
Given the values involved—particularly for mint state and proof examples—purchasing coins certified by PCGS or NGC provides essential protection. Third-party grading authenticates the coin, confirms its grade, and encapsulates it in a tamper-evident holder. For 25/50C variety examples, variety attribution by the grading service adds significant value and marketability. Raw (uncertified) coins should only be purchased from highly reputable dealers with a strong return policy, and even then, verification by a third party is recommended.
Preservation and Long-Term Care
Proper storage and handling are essential to protect the value and condition of 1828 Capped Bust Quarters. Silver coins are particularly susceptible to environmental damage including toning, tarnish, and corrosion from improper storage materials.
Handling Protocol: Always hold coins by their edges between the thumb and forefinger. Never touch the obverse or reverse surfaces, as oils and acids from skin can cause permanent fingerprints or accelerated toning. Wearing soft cotton gloves is highly recommended, especially when examining uncirculated or proof examples. When viewing coins, hold them over a soft surface such as a velvet pad to prevent damage if dropped.
Storage Materials: Use only inert, archival-quality materials. For valuable coins, individual hard plastic (acrylic) capsules manufactured by reputable companies like Capital Plastics or Air-Tite provide the best protection against environmental exposure and physical damage. These holders are inert and will not react with the coin's surface. Coins already certified by PCGS or NGC should remain in their original holders, which provide excellent long-term protection.
⚠️ Avoid PVC
Never store coins in soft, flexible plastic "flips" containing Polyvinyl Chloride (PVC). This chemical will leach out over time and coat the coin in a destructive green slime that is difficult to remove and permanently damages the surface. If you inherit coins stored in old soft flips, transfer them to inert holders immediately.
Archival-quality storage protects long-term value
Environmental Control: Store your collection in a location with stable temperature and low humidity, ideally below 50% relative humidity. Basements and attics are poor choices due to wide environmental fluctuations and potential water intrusion. A climate-controlled room is ideal. Silica gel packets can be placed within safes or storage boxes to absorb excess moisture. Replace or regenerate these packets periodically as they become saturated.
Never Clean Coins: Do not attempt to clean, polish, or "improve" the appearance of your coins. Even the gentlest cleaning will leave microscopic scratches that are immediately visible under magnification and drastically reduce value. Collectors and grading services prize original, unmolested surfaces. If you believe a coin requires conservation due to active corrosion or harmful residue, consult a professional numismatic conservator—never attempt home remedies.
Recent Auction Results and Market Trends
The market for 1828 Capped Bust Quarters has shown consistent strength over the past decade, with record-setting prices for top-tier examples reflecting sustained collector demand. Auction results demonstrate clear premium tiers based on grade, variety, and strike type.
Normal Date Business Strikes: The auction record for a normal date example stands at $111,625 for a PCGS MS-66+ that sold at Stack's Bowers in July 2015. A similarly impressive NGC MS-67 realized $108,687.50 at Heritage in June 2015. These results underscore the extreme rarity of Gem-quality survivors. In the MS-63 to MS-65 range, recent sales include a PCGS MS-65 at $41,125 (Stack's Bowers, May 2015) and a PCGS MS-64 at $17,625 (Heritage, April 2015). Circulated examples have shown more modest but steady values, with a PCGS EF-40 realizing $1,440 at Stack's Bowers in April 2025 and a PCGS VF-20 selling for $588 at Heritage in December 2020.
25/50C Variety (B-3): The variety has demonstrated exceptional performance at auction, reflecting its status as a landmark rarity. The current record is an astonishing $282,000 for an MS-67 example sold at Heritage in May 2015. The celebrated D. Brent Pogue Collection specimen, graded MS-63 by PCGS, commanded $82,250 in May 2015. Even in lower mint state grades, the variety commands six-figure sums, with a PCGS MS-63 selling for $72,000 at Heritage in February 2023. Circulated examples maintain strong values relative to normal dates: a PCGS F-12 brought $4,560 at Heritage in May 2024, and even a PCGS G-06 has sold for $1,202.
Proof Strikes: Proofs rarely appear at auction due to their extreme rarity (fewer than 10 survivors estimated). When they do, they achieve prices commensurate with their status as landmark early American rarities. A PCGS PR-65 with CAC approval was offered by a dealer for $192,500. An NGC PR-66 realized $82,250 at Heritage in June 2014. These coins typically appear as highlights of major named collections and generate significant bidding interest from advanced collectors.
Market Observations: The 1828 quarter market is characterized by strong demand at all levels, from circulated examples appealing to type collectors to condition rarities pursued by registry set competitors. The 25/50C variety has shown particularly robust appreciation, with consistent auction appearances demonstrating liquid demand. Proof examples, given their absolute rarity, trade infrequently but reliably command high five to six-figure prices when they surface.
Frequently Asked Questions
How much is my 1828 Capped Bust Quarter worth?
Value depends on three factors: condition, die variety, and strike type. Normal date business strikes in circulated grades (G-4 through AU-50) are worth $195 to $2,550. Uncirculated examples range from $5,750 (MS-62) to $150,000 (MS-67). The rare 25/50C variety (Browning-3) commands $2,000 to $282,000 depending on grade. Proof strikes are worth $75,000 or more. Have your coin authenticated and graded by PCGS or NGC for an accurate assessment, especially if you believe it may be a high-grade or variety example.
Where is the mint mark on an 1828 quarter?
There is no mint mark on 1828 quarters. All examples were struck at the Philadelphia Mint, which did not use mint marks during this era. The absence of a mint mark is normal and correct for this date. On later quarters where mint marks do appear, they are typically found on the reverse below the eagle, but this does not apply to the 1828 issue.
What is the 1828 25/50C variety and how do I identify it?
The 25/50C variety (Browning-3) is a famous error where the denomination "25 C." was punched over an erroneous "50 C." on the reverse die. It is easily identifiable: clear remnants of "50 C." are visible beneath the "25 C." The "2" is punched over the "5," and the "5" is punched over the "0." This occurred when a blundered 1822 die was retrieved from storage and paired with an 1828 obverse. With only 87 examples known to survive, this variety commands substantial premiums at all grade levels.
Should I get my 1828 quarter professionally graded?
Yes, especially if your coin appears to be in About Uncirculated or better condition, or if you believe it may be the 25/50C variety. Professional grading by PCGS or NGC provides authentication, precise grade assignment, and encapsulation in a protective holder. Given that mint state examples can be worth $5,750 to $150,000, and the 25/50C variety starts at $2,000 even in low grades, the modest cost of grading (typically $30-100 depending on service level and declared value) is easily justified. Even circulated examples benefit from third-party verification, particularly for resale purposes.
How should I store and handle my silver quarter?
Always handle coins by their edges to avoid fingerprints. Use soft cotton gloves when examining valuable pieces. Store in inert, archival-quality holders—hard plastic capsules are ideal for valuable coins. Never use soft PVC-containing flips, which will damage the coin's surface. Maintain a stable environment with low humidity (below 50%) and consistent temperature. Never attempt to clean your coin, as cleaning dramatically reduces value even if done gently. Coins already in PCGS or NGC holders should remain in those holders for optimal protection.
What's the difference between a weak strike and wear?
This is a critical distinction for early quarters. A weakly struck coin has soft or incomplete detail due to insufficient striking pressure, but it retains original mint luster in the fields and protected areas. The metal has a fresh, unblemished appearance. A circulated coin shows wear—a dulling and smoothing of the high points where luster has been rubbed away through handling. The surfaces appear scuffed with contact marks. A weakly struck MS-63 can be worth significantly more than a strongly struck AU-55, so proper distinction is essential.
Are there any other major varieties besides the 25/50C?
Four die marriages are documented using the Browning system: B-1 (most common, R-1), B-2 (uncommon, R-2), B-3 (the 25/50C variety, rare R-5), and B-4 (scarce, R-3). While B-1, B-2, and B-4 are collected by specialists, they do not command the dramatic premiums of the B-3 variety. Specific diagnostics for distinguishing these varieties require consultation with specialized references such as Browning's original work or Steve Tompkins' updated guide.
What is the melt value of an 1828 silver quarter?
With 0.1933 troy ounces of silver and a spot price of approximately $48.85 per troy ounce (as of October 30, 2025), the melt value is approximately $9.45. However, this is irrelevant to the coin's market value. Even the lowest collectible grade (G-4) is worth $195—more than 20 times the bullion content. The 1828 quarter is a purely numismatic asset valued for its rarity, historical significance, and condition, not its silver content.
Why did the Philadelphia Mint produce so few quarters in 1828?
The mintage of 102,000 quarters was tiny compared to the 3,075,200 half dollars produced the same year. This disparity reflected commercial realities: the half dollar was the workhorse silver coin of American commerce, while the quarter dollar played a secondary role. Its utility was partly supplanted by widespread circulation of Spanish colonial two-reales coins of similar value. Production at the Philadelphia Mint was driven by depositor demand, not predetermined quotas, so the low mintage directly reflects limited commercial need for quarters.
Are 1828 proof quarters really that rare?
Yes. The original mintage is estimated at only 10-12 pieces struck as presentation coins. Fewer than 10 are believed to survive today. These are landmark rarities that appear infrequently at auction, typically as highlights of major named collections. When they do surface, they achieve prices in the high five to six figures. A PR-65 example with CAC approval was offered at $192,500, and an NGC PR-66 sold for $82,250 at Heritage in June 2014.
Research Methodology and Data Sources
This analysis synthesizes information from multiple authoritative numismatic sources to provide accurate, current market valuations and historical context for the 1828 Capped Bust Quarter. Primary sources include population reports and price guides from PCGS and NGC, the two leading third-party grading services, which maintain comprehensive databases of certified coins and auction results. Market values reflect price guide data current as of October 2025, supplemented by verified auction results from major houses including Heritage Auctions, Stack's Bowers Galleries, and GreatCollections.
Historical and technical specifications are drawn from reference works including PCGS CoinFacts, NGC Coin Explorer, Stack's Bowers' resource center, and CoinWeek's type coin guides. Die variety information follows the Browning attribution system as documented in Ard W. Browning's The Early Quarter Dollars of the United States and updated in Steve Tompkins' Early United States Quarters, 1796-1838. Mintage figures are sourced from official U.S. Mint records as compiled by numismatic researchers.
Silver spot prices and melt value calculations are based on market data from JM Bullion, BullionVault, and Business Insider as of October 30, 2025. Authentication and preservation guidance draws on best practices published by NGC's grading guide, the U.S. Mint's coin care resources, and GovMint's educational materials.
ℹ️ Market Fluctuations
Coin values fluctuate based on market conditions, collector demand, and the appearance of fresh inventory at auction. The values presented here represent market assessments as of October 2025. For current pricing on specific coins, consult recent auction results and dealer offerings. When buying or selling, obtain multiple opinions and consider having valuable coins authenticated and graded by PCGS or NGC.
