The 1804 Draped Bust Silver Dollar is an extremely rare and valuable coin, often referred to as the “King of American Coins”. While mint records show 19,570 silver dollars were produced in 1804, it’s widely believed that all these coins were actually dated 1803. The 1804-dated dollars were struck years later, primarily in 1834-35, to be used as diplomatic gifts.
- Only 15 genuine 1804 dollars are known to exist.
- Their value is extremely high, with past auction results ranging from $2 million to over $7 million , depending on the coin’s condition and market factors.
- A Class I “Original” 1804 Draped Bust Dollar graded Proof-68 by PCGS sold for $7.68 million in 2021.
- Another Class I coin sold for $4.14 million in 1999, which was a record for any coin at the time.
- Rarity: Due to the extremely limited number of genuine 1804 dollars, it’s highly improbable to find one in circulation or offered casually.
- Authentication: If you believe you have found one, it is crucial to have it authenticated by a reputable professional coin grading service like PCGS or NGC.
- Beware of Fakes and Replicas: The high value of the 1804 dollar has led to many fakes and reproductions being created.
– Many replicas are simply silver bullion rounds and will be marked as such (e.g., “.999 Fine Silver”).
– Some counterfeits may have altered dates or other imperfections that differentiate them from genuine coins.
- Melt Value: Most 1804 dollar replicas are only worth the value of the metal they are made of. In the case of silver replicas, this would be their bullion value, which can fluctuate based on the spot price of silver.
- Expert Appraisals: For serious inquiries, an expert appraisal from a trusted coin dealer or auction house is recommended.
Why is the 1804 silver dollar rare?
From my experience, This was done in light of the soaring prices of silver. This took a toll on the production of silver dollars as it required melted silver to reach the required silver content. These circumstances led to silver production being halted in 1803. This is what makes the 1804 Silver Dollar Coin so special.
Where is the mint mark on 1804 silver dollar?
I can help with that. 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.
Is the 1804 dollar coin legit?
I can help with that. Unless you are very wealthy or you purchased one of the known specimens from a reliable source, your 1804 dated dollar coin is a fake.