1815 25C VF30 Certification #42698349, PCGS #5321
Expert Comments
Charles Morgan
The 1815 Capped Bust Quarter
The production of 1815 Capped Bust Quarters (#5321) was primarily driven by a July 1815 order from the Planter’s Bank of New Orleans. At the time, the United States Mint lacked both an inventory of quarters and the dies required to strike them. Although the Mint initially requested the bank accept dimes instead, an August 14 letter saw the bank double down on its demand for quarters. In response, engraver John Reich was tasked with creating new designs.
| 1815 Capped Bust Quarter Dollar Deliveries | |||
| December 16, 1815 | 69,232 delivered | January 10, 1816 | 20,003 delivered |
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Total: 89,235 coins |
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By December, between 60,000 and 69,000 quarters were struck and shipped to New Orleans. Most of the remaining mintage went to Jones, Firth and Company, which received another 20,000 coins dated 1815 in early 1816.
The "E" and "L" Counterstamps
Numismatists have recognized two distinct counterstamps—"E" (#809461) and "L" (#809323)—since the 1870s, with the "L" variety being significantly scarcer.
In a July 2004 John Reich Journal article, researcher Ted McAuley posited that these marks originated at the Harmonist Community of Economy in Harmony, Pennsylvania. Under this theory: "E" stands for Economite. "L" stands for Leonite.
Technical Specifications & Die States
The 1815 Capped Bust Quarter was struck by a single known die marriage, catalogued as Browning-1 (B-1). The die is clashed early in production, but in Die State III, the distinct die clash mark is joined by a repunching at the second "T" in STATES—the result of the dies being lapped (polished) to remove clash marks.
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1815 is the first year for the Capped Bust Quarter type, and all known survivors are struck from a single die pair. In his “Early United States Quarters 1796-1838”, Steve Tompkins includes correspondence between Bailly Blanchard, head cashier of the Planters Bank of New Orleans, and Mint Director Robert L. Patterson, where Blanchard pleaded with Patterson to return only quarter dollars in exchange for the bank’s deposit of silver. After much hesitation, as no quarter dollar dies were available, Patterson gave in to Blanchard’s request, and production of the quarter dollar denomination was resumed.
While regularly available in Choice grades, true Gems with original surfaces are elusive.
Rarity and Survival Estimates Learn More
| 65 or Better | 1875 |
| All Grades | 67 |
| 60 or Better | 6 |
| 65 or Better | R-4.6 |
| All Grades | R-8.3 |
| 60 or Better | R-9.7 |
| 65 or Better | 13 / 15 |
| All Grades | 12 / 15 TIE |
| 60 or Better | 8 / 15 TIE |
| 65 or Better | 15 / 24 TIE |
| All Grades | 16 / 24 TIE |
| 60 or Better | 13 / 24 TIE |
Condition Census Learn More
#1 PCGS MS66+
Hank Rogers, via Stack’s, ca. 1940s; Jimmy Hayes, by sale, ca. early 1970s; “The Jimmy Hayes Collection of United States Silver Coins,” Stack’s, October 1985, Lot 35; E. Richard; “The E. Richard Collection of United States Type Coin,” Stack’s, October 1989, Lot 684; Pogue Family. As PCGS MS66 #02807894. “The D. Brent Pogue Collection, Part I,” Stack’s Bowers / Sotheby’s, May 2015, Lot 1057 – $96,937.50. As PCGS MS66+ #34980722. Struck with clashed dies. Toned with reddish-grey centers and greenish blue color along the periphery and at high points. Lustrous. |
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#1 Est. MS66+
“Colonel” E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman – $12.50; Eric P. Newman Numismatic Education Society. As NGC MS67+* #2037631-009. “Selections from the Eric P. Newman Collection, Part II,” Heritage Auctions, November 15, 2013, Lot 33335 – $282,000; “The Bob R. Simpson Collection, Part IV,” Heritage Auctions, February 23, 2021, Lot 3041 – $198,000; Heritage Auctions, August 24, 2022, Lot 3912 – $168,000. As CACG MS67 #592602453. Heritage Auctions, December 14, 2023, Lot 3026 – $126,000. Vivid rainbow target toning. Curved mark from 5 to star 13. |
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#3 PCGS MS66
As NGC MS68 #1727945-050. Heritage Auctions, July 26, 2003, Lot 6908 – $60,950. As NGC MS67 #1727945-050. “The Haig Koshkarian Collection,” American Numismatic Rarities, March 9, 2004, Lot 532 – $50,600. “The Scott Rudolph Collection,” Heritage Auctions, January 8, 2009, Lot 3718 – $48,875. Coin regraded by NGC. Downgraded one point. Retained the same certification number; “The Joseph C. Thomas Collection, Part Two,” Heritage Auctions, May 28, 2009, Lot 603 – $27,600. As PCGS MS66 #14962425. Heritage Auctions, January 7, 2010, Lot 2503 – $37,375; "The Dr. Charles Link Collection." Fiery gold centers with orange-red and aubergine toning along the periphery. Toning spots nearly touching the eagle's left wing and between the top two arrow tips at the right serve as pedigree markers. |
#3 PCGS MS66
"The James W. Lull Collection," Bowers & Merena, January 2005, Lot 679 – $46,000.00; “The Joseph C. Thomas Collection, Part One,” Heritage Auctions, April 30, 2009, Lot 2319 – $48,875. Predominatly brilliant with areas of wispy gold toning. Struck with clashed dies. Small diagonal hit above eagle’s head. |
#5 PCGS MS65+
As PCGS MS65. Bowers and Merena, April 2005, Lot 440; “The Richard C. Jewell Collection,” Stack’s Bowers, August 13, 2011, Lot 7305 – $41,400. As PCGS MS65+ #25561700. "The Perfection Collection of Capped Bust Quarters," Legend Rare Coin Auctions, November 2, 2023, Lot 85 – $52,875. Bold aqua toning on the obverse. Rainbow target toning on the reverse. |