One of my favorite coin types is the large size capped bust quarters minted from 1815 to 1828. Compared to their contemporary denominations, the silver coins from the half dime to the half dollar, the large size capped bust quarters are significantly rarer. A casual review at a major coin show bourse floor will indicate multiply quantities of half dollars, half dimes and even dimes of the same type but very few of the large size capped bust quarters. The quarters of that period were the work horse of the economy, and the vast majority of the quarters circulated until they were unrecognizable or, more often, melted for their intrinsic value in silver.

This relatively short-lived series contains only eleven different dates. Yet, the large size capped bust quarters offer a true numismatic challenge to the serious collector and a fertile field for the variety collectors. Over the past 20 plus years, I have been fortunate to handle practically every major known variety as well as several of the key dates, including two Original 1827 proof quarters. As a collector there is something magical about the familiar denomination that has been part of our culture for more than 200 years. In terms of value, this type is grossly undervalued across the board but especially so in the mid grade range from XF to MS-62. A complete date set of just the business strikes, consisting of just ten coins, presents a formidable challenge, and offers the possibility of an excellent return on one's investment of time and money.

The large size capped bust quarters were officially last minted in 1828. No quarters were struck after 1828 until 1831 when the obverse design was slightly modified and struck in a closed collar resulting in a more consistent diameter and increase in thickness. The reverse design was maintained without the motto "E PLURIBUS UNUM." Although the changes were intended to be minor, the net combined effect was a dramatically altered new coinage.

The coins were ranked by the total number of coins graded by PCGS and NGC and each issue is followed by the actual number graded within each grade range. The official mintage record is provided for comparison purposes only. The mint back in those days did not produce coins that were necessarily dated the year they were made. Further, large scale melting of coins were common both by the mint as well as the public, reflecting the volatile nature of the precious metal prices even back then. The combined population reports from PCGS and NGC were used to indicate the relative rarities of all of the dates. When the major varieties were separately listed, the dates were all combined. The most recent population reports currently available to the author were used in making this relative ranking.

1815
Mintage 89,235.

This is the first year of the large size capped bust quarters and is popular as such. Overall this date is not particularly difficult to locate but is rare when found well struck. No proofs are known to exist.

1818
Mintage 361,174.

After a two-year hiatus, the mint went all out to produce one of the most common dates of the series. The 1818/5 is considered a rare variety but is actually much more available than indicated. This popular overdate variety is not always attributed properly. At least one proof specimen reported but not verified. No proofs have been graded by the major services.

1819
Mintage 144,000.

This is another date that is relatively available to the collector today. However, well struck and attractive pieces are still very difficult to find. Two major varieties exist: one with the small 9 and another with the large 9 in the date. Both are about equally available but the Large 9 is slightly rarer. Proofs are unknown.

1820
Mintage 127,444.

Large and Small 0 in date offers two popular varieties. Both are about equal in rarity overall. Proofs are extremely rare with 5 to 6 known.

1821
Mintage 216,851.

Another tough date to locate despite its higher mintage. Proofs are extremely rare with less than 8 known to exist.

1822
Mintage 64,080.

This is an underrated issue and very difficult to locate currently. There is a blundered variety with the 25/50 in value on the reverse at 25C. This over denomination variety is very rare and very underrated. Proofs are known for both the "normal" reverse and at least two with the blundered reverse die 25/50. Less than 12 total in proof estimated.

1823
Mintage 17,800.

This is the rarest non-proof issue for this short-lived series. Only one specimen has been graded mint state by either services. All 1823 quarters are actually over dates with the 2 showing clearly under the 3 in the date. There is only one proof known of this date.

1824
Estimated mintage is 24,000

This is another overdate with the 4 struck over the 2. This date is popular with collectors and has been hoarded by a few. Although considered in the past to be less rare than the 1822, I believe, and the population reports supports this, the 1824 is much rarer than the 1822. This date is unique in proof.

1825
Mintage: 168,000

This is the second most common large size capped bust quarters. All are overdates. There are two major varieties: 1825 over 1822; and 1825 over 1823/4. The so-called 1825/4/3 is the most common of the two. Although a few examples of this date were offered as proofs in the past, most have been determined to be prooflike business strikes. Currently, no proofs have been so attributed by the major grading services.

1827
Mintage: 4,000

This is the rarest issue for this limited series and is recognized as a fabulous rarity. In the past, this proof only quarter was grouped with other major rarities like the 1804 Dollar, 1913 Liberty Nickle and the 1885 Trade Dollar. Although the mint records indicate that 4,000 coins were struck, no business strikes are known to exist. The coin in the Eliasberg's estate was reportedly found in circulation and is the only known example in circulated garde (a Very Fine). However, that coin is considered by most observers to be a circulated proof. Accordingly, only 10 proof specimens have been identified to date. Of the ten confirmed specimens, one is impounded in the Smithsonian Institute and one is missing since the robbery at Yale University. Accordingly, only 8 different pieces are available to the collecting fraternity. Yet, the combined population report shows a total of 12 graded, including two in VF! Obviously, there are several resubmissions and this exemplifies why the population reports must be taken with some measure of circumspection.
Due to the rarity of the 1827 Original quarters, the mint, apparently in various subsequent years starting around 1858 to 1860, struck the infamous Restrikes using a different reverse, most likely in error. The Restrikes, all in proof, used a reverse from 1819 with a flat based 2 in the denomination on the reverse at 25C. All Originals have the curved base 2. An example of this date is traditionally included in a date set despite its proof only status not unlike the 1895 Morgan Dollar.

1827/3 Originals

1828
Mintage: 102,000

The final year of this short-lived series is also relatively available to the collecting public. There is one underrated variety that combines this date with the reverse of 1822 with the over denomination on the reverse. This is a popular variety that is not as rare as the 1822 with the same reverse but is nevertheless rare and underrated.

A Basic Date set would consist of the following dates:
1815
1818
1819
1820
1821
1822
1823
1824
1825
1828
An example of the rare 1827 quarter, either Original or Restrike, may be included.

The Advanced/Major Varieties set would include each of the following:
1815
1818
1818/5
1819 Small 9
1819 Large 9
1820 Small 0
1820 Large 0
1821
1822
1822 25/50 Reverse
1823/2
1824/2
1825/2
1825/4/3
1827/3 Original
1827/3 Restrike
1828
1828 25/50 Reverse