Coinage of the Capped Bust Quarter commenced in
1815, featuring John Reich’s image of Lady Liberty wearing a
"freedman's cap", an ancient Roman symbol worn by newly liberated
slaves.
Mint records show that 17,800 quarters were made
in 1823, most of which
were probably melted, leaving the 1823 as one of the rarest of all
United States quarters, and a most desirable acquisition to advanced
collectors.
All 1823 Capped Bust Quarters are made from the same die pair, the
obverse characterized by a 3/2 overdate. Numismatic scholars are
puzzled by the virtual absence of 1823 quarters in mint state grade.
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