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Bust Dollar (1794-1804): An Iconic Piece of American Numismatic History

The Bust Dollar, minted from 1794 to 1804, is one of the earliest and most iconic series in American coinage. These coins are highly prized by collectors due to their historical importance, intricately detailed designs, and rarity. As the first official silver dollar issued by the United States Mint, the Bust Dollar holds a special place in numismatic history, symbolizing the fledgling nation’s economic aspirations and its commitment to establishing a credible currency system. Collecting Bust Dollars can be a rewarding endeavor, especially when seeking pieces in exceptional condition. These coins not only reflect the artistry and craftsmanship of the early U.S. Mint but also offer a tangible connection to the nation's formative years.

History of the Bust Dollar

The Bust Dollar series began in 1794, marking the first official silver dollar coin struck by the United States Mint. These coins were produced in response to the Coinage Act of 1792, which established the U.S. Mint and authorized the creation of various denominations, including the dollar. The early production faced challenges, including limited minting technology and inconsistent quality, making these coins particularly scarce in high grades.

Design of the Bust Dollar

The Bust Dollar is characterized by two main designs: the Flowing Hair design, minted from 1794 to 1795, and the Draped Bust design, produced from 1795 to 1804. For both styles, the denomination is lettered on the coin’s edge as “HUNDRED CENTS ONE DOLLAR OR UNIT.”

learn about the U.S. Mint Bust Dollar series

Coin images sourced from: National Numismatic Collection, National Museum of American History

  • Flowing Hair Design (1794-1795): Designed by Robert Scot, the Flowing Hair Dollar depicts Lady Liberty with flowing hair on the obverse and an eagle surrounded by a laurel wreath on the reverse. This design was short-lived, making the 1794 and 1795 issues highly coveted by collectors.
  • Draped Bust Design (1795-1804): Also designed by Robert Scot, the Draped Bust Dollar features a more refined portrait of Liberty, with drapery covering her bust. Until 1798, the reverse remained unchanged from the Flowing Hair style. The reverse was modified in the midst of the 1798 release to depict a heraldic eagle inspired by the Great Seal of the United States. This design included the addition of the motto "E PLURIBUS UNUM."

Key Date Issues

Certain dates within the Bust Dollar series are especially sought after due to their rarity and historical importance. Key dates include:

  • 1794 Flowing Hair Dollar: The first silver dollar minted by the United States, with an estimated mintage of only 1,758 coins. These are exceedingly rare and valuable.
  • 1795 Draped Bust Dollar: The transition year from the Flowing Hair to the Draped Bust design, making it a significant piece for collectors.
  • 1804 Draped Bust Dollar: Known as the "King of American Coins," the 1804 dollar was not actually struck in that year but was produced as a special issue for diplomatic gifts in the 1830s. Only 15 specimens are known to exist, making it one of the most famous and valuable coins in the world.

The Benefits of Professional Grading

Given the historical importance and potential value of Bust Dollars, professional grading by trusted services like the Numismatic Guaranty Company (NGC) and the Professional Coin Grading Service (PCGS) is essential. These organizations provide an unbiased assessment of a coin's condition and authenticity, offering:

  • Accurate Grading: Ensures the coin's condition is properly evaluated, which significantly impacts its market value.
  • Authentication: Verifies the coin's authenticity, protecting collectors from counterfeits.
  • Marketability: Graded coins often fetch higher prices in the market due to the assurance provided by professional grading.

Discover the Timeless Appeal of Bust Dollars

The Bust Dollar series is a cornerstone of American numismatic history, cherished for its historical significance, beautiful imagery, and rarity. Whether you are a seasoned collector or a new enthusiast, these coins represent a valuable and fascinating addition to any collection. At Bullion Hunters, we provide expert advice and a wide selection of collectible coins. Visit our website or contact us to explore our inventory and enhance your collection with these timeless treasures.