Between 1789 and 1797, there were two main types of one dollar coins issued by the United States:
- Flowing Hair Dollar (1794-1795): These are the first silver dollars minted by the U.S. Mint. They are quite rare and valuable. A 1794 Flowing Hair dollar in Fine-12 condition averages around $150,000. Prices for higher-grade examples can be significantly more, with some selling for millions of dollars.
- Draped Bust Dollar (1795-1797): This type replaced the Flowing Hair design. The 1797 Draped Bust dollar, according to the NGC Price Guide, can be worth between $1,600 and $34,500 in circulated condition, and as much as $480,000 in pristine, uncirculated condition. Similarly, the 1795 Draped Bust dollar can range from $2,000 to $50,000 in circulated condition, and up to $850,000 in uncirculated condition.
In general, the value of these coins can vary widely depending on factors like:
- Condition: Coins in better condition (uncirculated or proof) are significantly more valuable than those that are circulated.
- Rarity: Some varieties or specific mintages within a year can be rarer and thus more valuable.
- Errors: Coins with minting errors, like missing or inverted edge lettering, can have higher values.
- Authentication: Be wary of purchasing uncertified 1794 silver dollars, as counterfeit versions are common. It is highly recommended to have these coins authenticated by a reputable third-party coin authentication service like PCGS or NGC.
- Fluctuating Market: The prices mentioned are based on available data and can fluctuate depending on the market and demand for these historical coins.
Note: The search results also mention a “George Washington Dollar Coin” from 1789-1797. This refers to the Presidential $1 Coin Program, which produced a George Washington dollar coin in 2007 (dated 1789-1797 to represent his presidency). These are much less valuable than the original Flowing Hair and Draped Bust dollars from the 18th century, with standard values around $1-$8. Gold-plated versions of these 2007 coins also exist but are not actual gold.
What is the error on the George Washington $1 coin?
I can help with that. If the coin goes through the edge-incusing machine heads-side up and then tails-side up, the two sets of lettering would occur in two directions, or inverted. This error is more commonly found on John Adams Presidential Dollars and less commonly on George Washington Presidential Dollars.