One of the most mythical coins in US numismatics is the 1804 Draped Bust Dollar which has become rare, with a curious history and collector value unmatched anywhere. The coin is dated 1804, but was in fact minted mostly during the 1830s due to diplomatic reasons, and is therefore a very rare mixture of historical interest and numismatic value.
Historical BackgroundAlthough records of the Mint indicate that silver dollars were last produced in 1804, the greater number of coins of that denominations was struck after the year, about 183435. These coins were minted in order to form part of special Proof sets that were supposed to be diplomatic gifts during the exploration of such countries as Siam and Muscat by Edmund Roberts. Dissenting specimens of the 1804 Draped Bust Dollar are almost entirely extinct unless they bear some embossed digit.
The physical battering was due to the request of the State Department of coins to be used as official gifts, since this set was meant to display American coinage. The 1804 dollar is made using dies which were polished and modified after the previous currencies, incorporating elements of late 18 th and early 19 th century designs with some 1830s characteristics.
| Attribute | Details |
|---|---|
| Mint Year | 1834–35 (dated 1804) |
| Known Specimens | Approximately 16 (Class I) |
| Design Feature | Draped Bust Liberty; Heraldic Eagle |
| Value Range | Multi-million dollar auctions |
| Purpose | Diplomatic gift sets |
Details of Design- Obverse: Draped Bust of Liberty, right, with flowing hair, of the classical type of the day
Reverse side: Heraldic eagle holding arrows and olive branches with stars and clouds written on it and have the inscription; United States of America and E Pluribus Unum.
– There are two major varieties of reverse dies, marked with the labels “Reverse X” and “Reverse Y,” whose only apparent difference is minor details of the design.
Rarity and ValueThe 1804 Draped Bust Dollar, in itself, is extremely scarcely known with one or two known Class I smattering, the genuine diplomatic proof coins. Other restrikes and special patterns, which are Class II and Class III, were produced later but are very rare as well.
Due to the few coins and their historical significance, those coins are frequently auctioned off at millions of dollars. As an example, one of the most valuable American coins ever sold is a well-preserved example, which sold above 4.14 million in 1999.
Why It’s a Collector’s Dream-Historical Significance Found: Early history of the United States diplomatic and monetary.
Scarcity: There were very few surviving examples.
Artistic Excellence: Type of Classical Draped Bust with distinct reverses.
Numismatic Folklore: The King of U.S. Coins: The legend of the modern world.
Draped Bust Dollar is not just a coin but a sign of the art, history and desire of the U.S. Mint. Its rarity and narrative qualify it as the most desired object by serious collectors and historians, so it has become an invaluable treasure of American numismatics[1].
