The 1822 Capped Bust Dime stands as a testament to early American coinage, captivating numismatists with its rarity, historical significance, and exceptional craftsmanship. In 2014, a pristine example of this coin fetched an astounding $440,625 at auction, underscoring its esteemed status among collectors.
Historical Context of the 1822 Capped Bust Dime
Minted during a transformative period in U.S. history, the 1822 Capped Bust Dime reflects the nation’s evolving identity. Designed by John Reich, the coin features Lady Liberty donning a Phrygian cap—a symbol of freedom—encircled by stars representing the original states. The reverse showcases an eagle clutching arrows and an olive branch, signifying the country’s readiness for both war and peace.
Rarity and Mintage
The 1822 dime is particularly scarce, with an estimated mintage of approximately 100,000 coins. However, many of these were likely struck using 1821-dated dies, a common practice at the time to utilize existing resources. This has resulted in a limited number of genuine 1822-dated dimes, making them highly sought after by collectors.
Notable Auction Sale
A highlight in the coin’s history occurred in June 2014 when a proof specimen, graded PR66 Cameo by PCGS, sold for $440,625 at a Heritage Auctions event. This particular coin was distinguished by its impeccable condition, sharp strike, and cameo contrast, contributing to its record-breaking price.
Factors Contributing to Its Value
Several elements influence the 1822 Capped Bust Dime’s value:
- Condition: Coins in mint state or proof condition command higher prices due to their pristine preservation.
- Rarity: The limited number of surviving specimens, especially in high grades, enhances desirability.
- Historical Significance: As a representation of early 19th-century American coinage, it holds substantial historical appeal.
- Provenance: Coins with documented ownership histories, particularly those from notable collections, often achieve premium prices.
Comparison with Other Rare Dimes
To contextualize the 1822 dime’s value, consider the following notable sales:
| Coin Type | Year | Grade | Auction Price | Auction Year |
|---|---|---|---|---|
| 1796 Draped Bust Dime | 1796 | MS66+ | $372,000 | 2023 |
| 1804 Draped Bust Dime | 1804 | AU58 | $632,500 | 2008 |
| 1975 No S Roosevelt Dime Proof | 1975 | PR68 | $456,000 | 2019 |
These figures illustrate the significant value attributed to rare dimes, with the 1822 Capped Bust Dime holding a prominent position among them.
Collecting the 1822 Capped Bust Dime
For collectors interested in acquiring this coin, consider the following:
- Authentication: Due to its rarity, ensure the coin is certified by reputable grading services like PCGS or NGC.
- Condition Assessment: Aim for the highest grade possible within your budget, as condition greatly impacts value.
- Market Research: Stay informed about recent auction results and market trends to make educated purchasing decisions.
The 1822 Capped Bust Dime is more than a piece of currency; it’s a relic of American history that continues to fascinate and attract discerning collectors. Its combination of rarity, historical context, and notable auction performances solidifies its status as a cornerstone in numismatic collections.
FAQs
Why is the 1822 Capped Bust Dime so valuable?
Its value stems from its rarity, historical significance, and the limited number of high-grade specimens available to collectors.
How can I verify the authenticity of an 1822 Capped Bust Dime?
Seek certification from reputable grading services such as PCGS or NGC, which assess and authenticate coins.
What factors most influence the value of this coin?
Condition, rarity, historical importance, and provenance are key determinants of its market value.
