An Almost-Complete Set of Capped Bust Quarters for under $500 each!

Analyst

Yes, it can be done. With just one or two dates missing, a set of Capped Bust quarter business strikes may be completed for less than $500 each. After considering that Capped Bust quarters are much scarcer than Capped Bust half dimes or half dollars, and even scarcer than Capped Bust dimes, such a quest seems very sensible. After all, these are attractive and historically important coins that have been strongly demanded by collectors for more than 150 years!

Do the members of this forum agree? Does it make sense to collect both types of Capped Bust quarters without spending more than $500 on any one coin? Are these better values than some other classic U.S. coins?

Classic U.S. Coin for Less Than $500 Each, Part 26: Capped Bust Quarters

EastonCollection

Great article and very good read. I really appreciate seeing an article alerting collectors that this series can be collected by date. If you decide to put collect this series, then be prepare to work hard. As the author mentioned, its quite challenging to locate large size Capped Bust quarters that are original. However, once completed your really have alot of American history in your hands.

Baley

Awesome article, so good in fact that I only read half, saving the rest of it, and a reread, for later. With regards to:

"Collecting by die varieties is a complex topic. As there are a significant number of very rare varieties, only a small number of people can effectively collect bust quarters by die variety. Besides, only a small percentage of coin collectors focus upon die varieties, though they tend to be very active, dedicated and enthusiastic collectors. This impressive and vocal minority notwithstanding, most coin collectors do not have the interest or time to study die varieties."

This is exactly why I've chosen to focus my collecting, (beyond a complete US type set that is a lifetime project) on what I find to be an interesting set of 1796-1828 quarters by die variety -and die state-. Having a [rough] $500 per coin limit means most of my set is Good-Fine, with only a few (net) Fair and Ag coins for some of the esoteric R5 and R6 coins, and a couple of low VFs for the more common ones. I'm of course still missing any 1796 or 1804 coins (and the 1823 and 1827) as even in basal state they start in the thousands, but do have most of the rest of them, and several better die states. Still hoping to cherrypick an 1822 B2 and an 1828 B3 (the over-denomination coins) someday.

I wouldn't recommend the advanced series to everyone, particularly those finicky about condition and eye appeal, and for the 1831-38 coins, I'd aim for a higher grade such as VF (someday I'll do them) but for the patient specialist it's a great set.

Bob1951

I have always liked bust quarters. The trick here is finding coins that you like. Most dealers do not have a big supply of bust quarters. Most are very worn or have problems.

rhedden

Capped Bust quarters certainly are available in nicer circulated grades for a reasonable price. They didn't take as much of a beating as their Draped Bust cousins. I completed this set in VF to AU55 without much trouble, but I went over $500 on one coin (the 1838). I bought this one raw in an old album, and it made AU55 at PCGS (older blue holder).

Baley

@Bob1951 said:
I have always liked bust quarters. The trick here is finding coins that you like. Most dealers do not have a big supply of bust quarters. Most are very worn or have problems.

Exactly so. As with the previous article on early gold, the expense associated with having very high standards for very rare material will keep almost all collectors out of the coins. Why collect a coin with VG details and a scratch, even if there are only 75 or 100 of them extant in any condition, when you can, for the same amount of money, buy a gem Washington quarter that has a population of 500 in the grade, 75 or 100 higher, and another few hundred thousand total in mint state?

hchcoin

Excellent!

Zoins

Great article for collecting by date.

I'm more of a type / box of 20 collector, so I'd probably start off with these by type in AU58 in the $1500 - $3000 per coin range.

ricko

@rhedden...That is a really nice 1838..... Cheers, RickO

Analyst

Easton: I really appreciate seeing an article alerting collectors that this series can be collected by date.

Yes, thank you, a primary theme is that most collectors are not aware of all the sets can be almost-completed without spending more than $500 on any one coin. Other than Baley, did any members of this forum realize that a set of business strike Capped Bust quarters can be almost-completed without spending as much as $500 on any one coin?

Baley: Awesome article ...

I very much appreciate such positive feedback, especially from Baley, who is not always a fan of my work.

Baley: an interesting set of 1796-1828 quarters by die variety -and die state-. Having a [rough] $500 per coin limit means most of my set is Good-Fine, with only a few (net) Fair and Ag coins for some of the esoteric R5 and R6 coins, and a couple of low VFs for the more common ones

Hopefully, all are aware that the cited article is about collecting 'by date.' I am fascinated that Baley is collecting bust quarters "by die variety and die state," with 'roughly' a "$500 per coin limit"! If Baley is suggesting that even two-thirds of such a set could be completed without spending more than $500 on any one coin, this point is important, and very educational! I was unaware that such a quest, with a $500 per coin limit, was practical. Certainly, a set "by die variety and die state" is mind-boggling. My article, however, was aimed at a wide audience.

Die states of bust quarters are of interest to people who have been enthusiastic about circulated bust coins for many years. In contrast, one of my objectives is to introduce collectors to programs that they had not previously considered, did not understand, or were not previously enthusiastic about.

ClassicU.S. Coins for Less than $500 Each, Part 24: Barber Dimes

Classic U.S. Coins for less than $500 each: Draped Bust Half Cents

Baley

Thanks A, couple points of clarification, one, it's not that I'm not a fan, rather, have discussed a couple points in relation to other posts and articles, and perhaps expressed a contrary or oblique opinion. second, most of the coins are raw, and many have problems, as mentioned, and many have been cherry picked rather than bought as the rare variety. Finally, the set by major die variety (marriage) nearly complete with the exceptions mentioned and a couple others. By die state, I still have a lot of work to do, and the project will continue to take a long, long time...

Your recommended focus on certified quarters will of course increase the average cost per coin in any grade, and will naturally eliminate problems are too severe for the TPGs to 'quietly' net grade as they often do. Here is an example of such a PCGS "net" graded coin with "barely acceptable" problems for the grade, that appears to be undergraded at first glance, but points were apparently deducted for some surface imperfections.

I found this to be an appropriate 1825-B1 for my set, a better variety that, while far from perfect, has enough detail on the major features that identify this pair of dies. PCGS graded this coin F12, and is one of my very few certified bust quarters, (though I have cracked a large number of coins out of holders from many TPGs, to allow closer study.

And here's the same year, variety B3 in very late die state, also PCGS "problem free" (G4)

Anyway, I know the article is focused on a certified Date set, and I'll bet because you wrote it, at least a few folks will try that collection, even more will want to get a single example of each design as a type coin. The 1838 posted above would make a nice type coin, despite some marks that would probably have resulted in a "genuine" on later type of quarter.

logger7

It would also be nice to have an 1825 or 1815 with an L or E counterstamp.