Among the rarest and most coveted coins in American numismatics, the 1804 Draped Bust Dollar holds a special place. Its rarity, historical intrigue, and high auction values make it one of the most fascinating collectibles in the world of coin collecting.
A Historic Auction in 2021
In August 2021, an exceptional example of the 1804 Draped Bust Dollar was auctioned for an astonishing $7.68 million. This sale cemented its status as one of the most expensive coins ever sold, drawing global attention from collectors and investors.
The History of the 1804 Draped Bust Dollar
| Feature | Details |
| Minting Date | Although the coin is dated 1804, it was actually struck in the 1830s |
| Reason for Minting | The U.S. Mint mistakenly believed that the last silver dollars had been produced in 1804. In reality, they were last struck in 1803. A small batch was later created as diplomatic gifts for foreign officials. |
Types of 1804 Draped Bust Dollars
This rare coin exists in three different classes, each with its own unique history:
| Class | Year of Minting | Special Features | Known Specimens |
| Class I | 1834 | Originally struck as diplomatic gifts for foreign leaders | 8 known |
| Class II | 1850s | Re-minted on existing silver coins but without proper authorization | 1 known |
| Class III | 1850s | Additional edge lettering was later added | 6 known |
Record-Breaking Coin
One of the finest Class I 1804 Draped Bust Dollars was auctioned at the 2021 American Numismatic Association’s World’s Fair of Money by Stack’s Bowers Galleries. The final price of $7.68 million reinforced its legendary status among collectors.
Distinctive Design of the 1804 Draped Bust Dollar
| Side | Description |
| Obverse | Features Lady Liberty with long, flowing hair tied with a ribbon. The word “LIBERTY” and 13 stars surround her. |
| Reverse | Displays a majestic eagle with outstretched wings, holding an olive branch and arrows. Above it, the inscription “E PLURIBUS UNUM” signifies unity. |
Why Is This Coin So Valuable?
Several factors contribute to the immense worth of the 1804 Draped Bust Dollar:
- Extreme Rarity – Only 15 known specimens exist today.
- Preservation – Coins in pristine condition with original luster are highly prized.
- Provenance – Coins owned by famous collectors fetch even higher prices.
Investment Potential of the 1804 Draped Bust Dollar
Rare coins like this one offer strong investment opportunities, but careful considerations must be taken:
- Authentication: Ensure the coin is certified by trusted grading agencies.
- Expert Consultation: Seek advice from professional numismatists.
- Market Awareness: Stay informed about coin market trends and demand.
The Significance of the 1804 Draped Bust Dollar
This coin is not just a piece of currency; it is a symbol of American history, art, and numismatic prestige. The record-breaking auction of 2021 further enhanced its status, making it one of the most desirable collectibles in the world. Among rare coins, the 1804 Draped Bust Dollar remains an enduring mystery and a treasure that captivates collectors and investors alike
FAQs
Why is the 1804 Draped Bust Dollar so rare?
Only 15 specimens exist, making it highly sought-after.
How much is an 1804 Draped Bust Dollar worth today?
Some have sold for over $7 million, depending on condition and class.
Why does it have the date 1804 if it was struck in the 1830s?
It was mistakenly minted decades later for diplomatic purposes.
Who owns the most valuable 1804 Draped Bust Dollar?
Private collectors and museums hold the rarest specimens.
Can I find an 1804 Draped Bust Dollar in circulation?
No, all known specimens are accounted for in collections.