1848 CAL. Coronet $2.50 Quarter Eagle

Gold was discovered at Sutter’s Mill near Coloma, California on January 28, 1848. The find set off a mass migration of fortune seekers to the American West.

On December 9, 1848, a special shipment of 228 ounces of California gold arrived in Washington DC, sent by the acting governor of California, Colonel R.B. Mason. The Secretary of War, William L. Marcy, forwarded the gold to the Philadelphia Mint, along with this handwritten message:

"As many may wish to procure specimens made with California gold, by exchanging other coin for it, I would suggest that it be made into quarter eagles with a distinguishing mark on each, if any variations from the ordinary issues from the Mint would be proper and could be conveniently made ..."

Mint Director Robert M. Patterson arranged to have the “distinguishing mark” added to the 1848 Quarter Eagle by utilizing a simple CAL. punch. Most experts are convinced that each CAL. coin was punched while still seated in the die, because there is no detectable obverse damage on any known examples. The CAL. letters were intended to indicate the coin was made from California gold.

An estimated 1,389 of the 1848 CAL. Coronet Quarter Eagles were minted. Coin collectors of today regard this coin as one of the most significant pieces in American numismatics. Its origins can be directly linked to one of the most important episodes in all of United States history, the California Gold Rush.





1848 CAL. Coronet $2.50 Quarter Eagle


1848 CAL. $2.50 Quarter Eagle Gold Uncirculated
Coin Photos courtesy of Heritage Auction Galleries






1848-CAL. Quarter Eagle Value Trend Chart

1848 CAL. Coronet $2.50 Quarter Eagle (F-12 Condition)

The blue line above graphs the percent value increase of the 1848 CAL. Coronet Quarter Eagle in F-12 condition, starting at Year 2000 as a baseline. The performance of the 1848 CAL. Quarter Eagle rates a little below the Rare Coin Values Index, as depicted by the red line, but has shown very good upward consistency. The Index illustrates the percent increase of a group of 87 rare United States coin chosen from across the range of United States numismatics. The objective of the Index is to estimate the state of the US rare coin market. All Index data is updated monthly.


 

Members of the Rare Coin Values Index
Date Coin Type Grade Est. Retail Value Apr 2023
1793 Liberty Cap Left Half Cent G-4 4500
1802 2/0 Rev 1802 Draped Bust Half Cent G-4 1100
1793 Chain AMERI. Flowing Hair Large Cent G-4 10000
1794 Starred Rev Liberty Cap Large Cent G-4 35000
1799 Draped Bust Large Cent G-4 6500
1856 Flying Eagle Cent G-4 6500
1877 Indian Head Cent G-4 600
1909-S VDB Lincoln Cent G-4 625
1914-D Lincoln Cent G-4 170
1922-D (No D) Lincoln Cent G-4 550
1864 Small Motto Two Cent F-12 425
1865 Three Cent Silver PF-65 1750
1884 Three Cent Nickel F-12 1150
1795 Flowing Hair Half Dime G-4 1500
1797 Draped Bust, Small Eagle Half Dime G-4 1500
1800 Draped Bust, Large Eagle Half Dime G-4 1500
1865 Seated Liberty Half Dime G-4 325
1879 Shield Nickel VG-8 575
1885 Liberty Nickel VG-8 675
1913-S Type 2 Buffalo Nickel G-4 325
1918/7-D Buffalo Nickel G-4 775
1937-D 3 Legs Buffalo Nickel G-4 475
1796 Draped Bust Dime G-4 3500
1822 Capped Bust Dime G-4 2000
1871-CC Seated Liberty Dime G-4 3250
1895-O Barber Dime G-4 525
1916-D Mercury Dime VG-8 1250
1942/1-D Mercury Dime VG-8 425
1875-CC Twenty Cent G-4 250
1796 Draped Bust, Small Eagle Quarter G-4 12500
1804 Draped Bust, Large Eagle Quarter G-4 4000
1823 Capped Bust Quarter G-4 40000
1870-CC Seated Liberty Quarter G-4 9000
1896-S Barber Quarter G-4 750
1901-S Barber Quarter G-4 5500
1916 Standing Liberty Quarter G-4 2900
1918/7-S Standing Liberty Quarter G-4 1150
1923-S Standing Liberty Quarter G-4 300
1932-D Washington Quarter F-12 90
1794 Flowing Hair Half Dollar G-4 5500
1796 16 Stars Draped Bust Small Eagle Half Dollar G-4 42500
1815/12 Capped Bust Half Dollar G-4 1750
1836 Reed Edge Capped Bust Half Dollar G-4 1250
1870-CC Seated Liberty Half Dollar G-4 900
1892-O Barber Half Dollar G-4 325
1921-D Walking Liberty Half Dollar VG-8 350
1938-D Walking Liberty Half Dollar VG-8 60
1953-S Franklin Half Dollar MS-65 FBL 27500
1794 Flowing Hair Silver Dollar G-4 75000
1796 Draped Bust Small Eagle Silver Dollar G-4 2000
1801 Draped Bust Large Eagle Silver Dollar G-4 1100
1836 Gobrecht Dollar, Name on Base, Circ. Issue XF-40 12500
1873-CC Seated Liberty Dollar G-4 12000
1879 Trade Dollar PF-65 6900
1889-CC Morgan Silver Dollar F-12 1250
1893-S Morgan Silver Dollar F-12 4000
1895 Morgan Silver Dollar F-12 (PF Only) 35000
1928 Peace Dollar F-12 225
1849-C Cl. Wreath Type One Gold Dollar VF-20 2500
1855-D Type Two Gold Dollar VF-20 25000
1861-D Type Three Gold Dollar VF-20 55000
1796 No Stars Capped Bust $ 2.50 Quarter Eagle F-12 70250
1808 Capped Draped Bust $2.50 Quarter Eagle F-12 55000
1826 Capped Head $2.50 Quarter Eagle F-12 17000
1838-C Classic Head $2.50 Quarter Eagle F-12 4500
1848 CAL. Coronet $2.50 Quarter Eagle F-12 40000
1856-D Coronet $2.50 Quarter Eagle F-12 15000
1911-D Indian Head $2.50 Quarter Eagle XF-40 3750
1854-D Indian Head Three Dollar F-12 32500
1795 Capped Bust Small Eagle $5.00 Half Eagle F-12 28500
1800 Capped Bust Large Eagle $5.00 Half Eagle F-12 4500
1808 Capped Draped Bust $5.00 Half Eagle F-12 4000
1821 Capped Head $5.00 Half Eagle F-12 32500
1833 Large Date Capped Head $5.00 Half Eagle F-12 22500
1834 Cross 4 Classic Head $5.00 Half Eagle F-12 1950
1861-D Coronet $5.00 Half Eagle F-12 30000
1870-CC Coronet $5.00 Half Eagle F-12 30000
1909-O Indian Head $5.00 Half Eagle XF-40 8000
1795 9 Leaves Capped Bust Small Eagle $10 Eagle F-12 108500
1804 Capped Bust Large Eagle $10 Eagle F-12 20000
1841-O Coronet $10 Eagle F-12 9750
1879-CC Coronet $10 Eagle F-12 22000
1911-D Indian Head $10 Eagle XF-40 2350
1930-S Indian Head $10 Eagle XF-40 31250
1859-O Coronet $20 Double Eagle VF-20 20000
1907 Wire Rim St-Gaudens $20 Double Eagle XF-40 11500
1921 St-Gaudens $20 Double Eagle XF-40 47500


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See the 87 Index Coins