Draped Bust Dollar

The Draped Bust silver dollar was struck from 1795 through 1804 (with the 1804-dated coins actually produced decades later) and represents an important chapter in early American coinage as the young nation's principal large silver denomination. Like its half dollar counterpart, it exists with two reverse types: a small eagle (1795-1798) and a heraldic eagle (1798-1804).

Collectors prize the series both for its historical importance as one of America's first silver dollar designs and for the range of rarity levels it offers, from relatively obtainable heraldic eagle dates to major rarities among the small eagle issues and the famous 1804 dollar.

Robert Scot's Draped Bust design replaced the Flowing Hair dollar in 1795, giving Liberty a more classical, draped appearance. The original small eagle reverse, showing a modest perched eagle within a wreath, was replaced in 1798 by a heraldic eagle reverse modeled on the Great Seal of the United States.

Dollar production was suspended after 1804 (dollars actually struck in that era bore the 1803 date) due to concerns that U.S. silver dollars were being exported and melted for their bullion value abroad, and the denomination was not resumed until the Gobrecht dollar of the 1830s and the regular Seated Liberty dollar beginning in 1840.

The obverse depicts Liberty's draped bust facing right, surrounded by stars, with the date below. The small eagle reverse (1795-1798) shows a modest eagle perched within a wreath, while the heraldic eagle reverse (1798-1804) shows a larger eagle with a shield, arrows, and olive branch, based on the Great Seal.

The coin is struck in silver (approximately .8924 fine), has a lettered edge, and measures roughly 39-40 mm, larger than later silver dollars. All were struck at the Philadelphia Mint, so no mint marks appear.

Collectors distinguish the two reverse types easily by the eagle's design, and star counts and letter placements on early dies (documented by variety specialists) further break the series into numerous distinguishable die varieties.

Draped Bust dollars are genuine rarities of early American coinage; even the more common heraldic eagle dates command strong four-figure prices in worn grades, reflecting overall scarcity and demand from type and date collectors. The small eagle dates (1795-1798) are scarcer still and command higher premiums, particularly in problem-free or higher grades.

Because these are handmade, centuries-old coins, factors like strike quality, surface preservation, and absence of cleaning, holes, or repairs weigh heavily on value; professional grading and authentication are standard practice for coins of this significance and price level.