1801 Draped Bust Silver Dollar is one of the most iconic coins in American history. As the first silver dollar to be minted by the United States government, the 1801 Draped Bust Silver Dollar has become an icon of American currency and a timeless piece of history. This coin is highly sought after by coin collectors and investors, making it a great addition to any coin portfolio.
The coin is one of only three struck during Jefferson’s term as president; it was minted in Philadelphia and later circulated in New Orleans before being melted down into bullion when it was replaced by another design in 1804.
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History of 1801 Draped Bust Silver Dollar
Draped Bust Silver Dollars were minted in the United States between 1796 and 1803 and were the first dollar coins to be issued by the US Mint. Although the exact origins of the 1801 Draped Bust Silver Dollar are unknown, it is believed to have been created by Chief Engraver Robert Scot.
1801 Draped Bust Silver Dollar was the first silver dollar to bear the portrait of a woman on its obverse, with the design by Robert Scot and sculpted by John Reich. It was produced during the presidency of Thomas Jefferson, who served as president from 1801 to 1809.
1801 Draped Bust Silver Dollar was minted to show the world that America had become a strong, independent nation. It was also meant to showcase the technical capabilities of the new mint, as each one was individually inspected for accuracy in its specifications and worth. In today’s market, this antique coin is still highly valued and sought after by collectors worldwide.
The Draped Bust Silver Dollar coins were minted in three varieties: Small Eagle, Heraldic Eagle, and Large Eagle. The Small Eagle variety features a smaller version of the eagle on the reverse side, and it was only issued in 1801. 1801 Draped Bust Silver Dollar is composed of 89% silver and 11% copper. It has a diameter of 39.5 millimeters and weighs 26.96 grams.
The obverse design features a bust of Liberty wearing a Phrygian cap, which symbolizes freedom and liberty. She faces to the right with a ribbon behind her hair and an inscription reading “Liberty”.
On the back side of the coin is an eagle with a shield on its chest and 13 stars representing the 13 colonies. Above the eagle is the inscription “United States of America”. This design was based on both heraldry and classical artistry but also included some elements from Native Americans as well.
Like most other antique coins, the 1801 Draped Bust Silver Dollar also had lettered edges.
Significance of 1801 Draped Bust Silver Dollar
1801 Draped Bust Silver Dollar has been listed as one of the most valuable coins by Numismatic Guarantee Corporation (NGC). It has also been called “the most beautiful coin ever struck” by NGC itself, which described it as “a stunning example of beauty combined with power.”
1801 Draped Bust Silver Dollar is a highly sought-after antique coin among numismatists and collectors. This iconic piece of American currency, produced during the early 18th century, holds immense historical value and significance to our nation’s history. The mintage of the 1801 Draped Bust Silver Dollar was incredibly low, only 54,454 compared to other years, making it even more desirable and alluring to collectors.
Although its monetary value has decreased drastically over time, the 1801 Draped Bust Silver Dollar is still a timeless piece of American history. The symbolism of Lady Liberty on this coin encapsulates our nation’s core values and principles of freedom, independence, and perseverance that are integral to our nation’s identity. This coin also signifies America’s growth as a country during its formative years, marking a transition from Spanish-style coins to something distinctively American. As such, the 1801 Draped Bust Silver Dollar reminds us of how far our country has come and its immense potential to grow in the future.
Recent Market Value
An 1801 Draped Bust Half Dollar in the circulated condition is currently worth between $1230 to $40000, according to the NGC Price Guide of January 2023.
1801 Draped Bust Silver Dollar PRV (Proof Restrike Variety) is valued at $1,110,079 or more in Uncirculated (MS+) Mint condition by USA Coin Book. Proof coins may be worth up to $1,449,248. 1801 Draped Bust Silver Dollar has a melt value of $18.67.
The Designer Robert Scot
Robert Scot, a Scottish-American engraver who lived from October 2, 1745, to November 3, 1823, held the position of Chief Engraver of the United States Mint. Scot created the Liberty Cap half-cent and the well-known and scarce Flowing Hair dollar coins. The Draped Bust, one of Scot’s most well-known designs, was featured on numerous silver and copper coins. Throughout his career in America, Robert Scot produced more early American patriotic imagery than any other engraver, using symbols and images to represent revolt, unity, victory, and liberty.