The 1804 Draped Bust Silver Dollar, often called the “King of American Coins,” is highly valued due to its rarity and unique history . There are only 15 known genuine specimens of this coin, and they are divided into three classes, each with its own story.
Here’s a breakdown of the value and characteristics of these coins:
- Extreme Rarity: Genuine 1804 Draped Bust Dollars are exceptionally rare, with only 15 known to exist. This makes them highly sought after by collectors.
- Not Minted in 1804: No silver dollars were actually minted in 1804. The coins with this date were struck later, mainly in the 1830s for diplomatic gifts and collectors.
- High Value: The value of these coins varies significantly based on their class and condition (grade). Some have sold for millions of dollars at auction. A Class I specimen sold for $7.68 million at auction in 2021.
- Counterfeiting: The 1804 Draped Bust Silver Dollar is frequently faked or counterfeited because of its high value. Therefore, it is essential to seek professional authentication if you believe you have one. According to YouTube, many 1804 silver dollars for sale are counterfeit.
- Class I (Originals): These 8 coins were minted in the 1830s and given as diplomatic gifts to foreign dignitaries.
- Class II (Restrikes): Only one exists, struck in the mid-1850s, possibly as an experiment by Mint employees, and lacks the lettered edge of the other classes. This unique piece is now part of the Smithsonian Institution collection.
- Class III (Restrikes): Six examples of this class exist, produced in the late 1850s and early 1860s for collectors, and have the lettered edges like Class I coins.
Important: Due to the prevalence of counterfeit 1804 Draped Bust Silver Dollars, it’s crucial to have any such coin professionally authenticated by a reputable numismatic expert or grading service (like PCGS or NGC) before determining its potential value.
Is an 1804 silver dollar rare?
The 1804 silver dollar is among the most coveted of all U.S. rare coins, with only 15 known examples. Strangely, no dollars dated 1804 were actually struck in that year. The United States Mint struck only dollars dated 1803 in 1804, and then ceased regular production of silver dollars until 1840.
How do I tell if my 1804 silver dollar is real?
Great question! Taking a closer look at the date also reveals some major issues. Note how the surface texture appears uniform around the first three digits, yet is smoothed out and has a different color around the 4. This is evidence that the counterfeiter haphazardly altered the last digit in the date.
Where is the mint mark on 1804 silver dollar?
Thanks for asking. The mint mark holds a special significance for collectors and numismatists when it comes to Silver Dollars like the iconic Morgan Silver Dollar and the elegant Peace Silver Dollar. On these historic coins, the mint mark can typically be found on the reverse side, just above the denomination.
Which Liberty silver dollars are valuable?
I can help with that. Flowing Hair Dollar: 1794-1795.
Draped Bust Dollar: 1795-1803.
1804 Dollar: 1834 until 1869.
Seated Liberty Dollar: 1840-1873.
Trade Dollar: 1873-1885.
Morgan Dollar: 1878-1904 & 1921.
Peace Dollar: 1921-1928 & 1934-1935.
Eisenhower Dollar: 1971-1976.