Draped Bust Dollar 1795-1804

The Draped Bust Dollar is a significant piece of American numismatic history. It was a silver dollar coin minted by the United States Mint from 1795 to 1804. The design features the bust of Lady Liberty on the obverse and an eagle on the reverse.

The Draped Bust Dollar was designed by renowned portrait artist Gilbert Stuart and executed by the Mint's chief engraver, Robert Scot. The obverse depicts a right-facing bust of Lady Liberty wearing a flowing gown with her hair tied with a ribbon. The reverse features a small eagle encircled by a wreath. The coin was first minted in 1795.

In 1798, the reverse design was changed to depict a larger heraldic eagle with outstretched wings, clutching an olive branch and arrows in its talons. This design change was made to comply with a law that mandated the depiction of an eagle on the reverse of silver coins. The Draped Bust Dollar with the heraldic eagle reverse was produced until 1804.

The Draped Bust Dollar had varying mintages throughout its production years. The total mintage for all years combined is estimated to be around 150,000 coins. Some years had limited mintages, resulting in certain issues being quite scarce and valuable today.

Although the Draped Bust Dollar series is dated up to 1804, no dollars were struck with that date until many years later. Production of the coin ceased after 1804 due to a combination of factors, including the passage of the Coinage Act of 1806, which regulated the weight and fineness of U.S. silver coins.

In the 1830s, the United States Mint produced a small number of Draped Bust Dollars dated 1804 for diplomatic presentation purposes. These coins, known as the "Class I" 1804 Dollars, are extremely rare and highly sought after by collectors. They are considered one of the most famous and valuable coins in American numismatics.

The Draped Bust Dollar holds a special place in American coinage history, representing an early era of the country's monetary system. Its elegant design and historical significance make it a popular choice among coin collectors and enthusiasts today.

 

Key Dates

1794: The Draped Bust Dollar was first minted in 1795, but a small number of prototype coins were struck in 1794. These 1794 Dollars are extremely rare and valuable, with only a few known examples in existence. They represent the earliest production of the Draped Bust Dollar series.

1796: The 1796 Draped Bust Dollar is a significant date due to its low mintage and scarcity. It is estimated that only around 3,500 to 5,000 coins were minted that year. The 1796 Dollar is highly sought after by collectors and is considered a key date of the series.

1799: The 1799 Draped Bust Dollar is another key date known for its low mintage. It is estimated that approximately 423,000 coins were minted that year. Despite being more available compared to some other key dates, the 1799 Dollar is still relatively scarce and desirable among collectors.

1801: The 1801 Draped Bust Dollar is considered a key date due to its low mintage and limited availability. It is estimated that around 54,454 coins were minted in 1801, making it one of the scarcer dates of the series.

1804: While 1804 is not considered a key date in terms of regular production, it holds great significance due to the production of the unique 1804 Dollars known as the "Class I" coins. As mentioned earlier, these coins were struck in the 1830s for diplomatic purposes and are incredibly rare and valuable.

It's important to note that all dates of the Draped Bust Dollar series are scarce to some extent, as the mintages were generally low compared to later coinage issues.