The 1834 Capped Bust Quarter Proof is a rare and highly sought-after coin by collectors. In 1834, the Philadelphia Mint produced 286,000 Capped Bust Quarters for circulation. However, they also minted an estimated 10 Proof versions of this coin, which were created using a specific die marriage known as Browning-2.
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What Makes Browning-2 Special?
The Browning-2 die pair is easily recognizable due to its unique reverse, which features a tongued or langued eagle. This detail sets it apart from the four die marriages used to create the business strikes (coins meant for everyday circulation).
What’s interesting is that Browning-2 shares the same obverse design as the Browning-1, which was used for business strikes. Some key features of this design include the canted “4” in the date and the star placement around the bust.
This specific die marriage has an intriguing story. According to research, it’s believed that the Browning-2 was initially used to create the Proofs, and only later did the mint use it to strike the coins intended for circulation. This sequence of events suggests that the production of the 1834 Capped Bust Quarter didn’t begin until at least November of that year.
Historical Connection: 1834 Proof Sets for Royalty
The story of the 1834 Capped Bust Quarter Proof is further enriched by its connection to a famous diplomatic gift. On November 11, 1834, U.S. Secretary of State John Forsythe requested that the United States Mint prepare special Proof coin sets for two important figures: the King of Siam and the Sultan of Muscat. These coin sets included all the denominations currently in use at the time, presented in luxurious wooden boxes.
What makes this story even more fascinating is that two key denominations—the silver dollar and the gold eagle—had been out of circulation since the Jefferson administration due to concerns about the export of precious metals. For these special Proof sets, the mint created new coins using older designs, such as the 1804 Draped Bust Dollar and the Liberty Cap Eagle, alongside the current 1834 coins like the Capped Bust Quarter.
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A Coin That Defied History
One of the original King of Siam Proof sets was rediscovered in 1962 in England, just as a famous coin book called “The Fantastic 1804 Dollar” was being printed. This find disproved one of the book’s key claims, causing the publisher to make last-minute corrections.
As a result, the 1834 Capped Bust Quarter Proof is not only a rare collector’s item but also a coin that has played a part in numismatic history. It’s estimated that at least seven examples of the 1834 Capped Bust Quarter Proof still exist today, though their whereabouts and ownership are often traced through auction records and numismatic research.
Market Data and Noteworthy Examples
The 1834 Capped Bust Quarter Proof has made appearances at several high-profile auctions, often fetching impressive prices. For example, one of the top-rated specimens, graded PCGS PR67CAM, was sold at auction for $329,000 in 2015. Another example, graded PCGS PR65, was part of the famous King of Siam set and has changed hands multiple times over the years, most recently selling for $33,350 in 2011.
Collectors value this coin not just for its rarity, but also for the beautiful toning and unique details that have developed on these Proofs over time. Coins with vivid target rainbow toning, especially in higher grades, tend to attract the most attention from buyers.
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Conclusion
The 1834 Capped Bust Quarter Proof is a treasure for collectors, both for its historical significance and its rarity. With only a few known examples in existence, this coin remains a centerpiece for those fortunate enough to own one. Whether you’re a seasoned collector or new to the world of rare coins, understanding the history and unique features of the 1834 Capped Bust Quarter Proof can make it a standout addition to any collection.