A tethering stake includes a rod having a point at one end thereof and a driving cap at an opposite end. A collar is fixed to the rod adjacent to and spaced from the driving cap, thus providing a neck to receive a tether line or chain. A cap cover is slidingly received upon the rod and is adapted to be selectively engaged with the collar. The cap cover includes a central circular aperture with a radial slot extending therefrom. The centrally positioned aperture and slot allow the cover to assume a position substantially parallel to the rod during shipment and storage, while allowing it to take a position substantially orthogonal to the rod when the rod is driven into the ground.
