The 1804 Draped Bust Dime is one of the most sought-after coins in the world of numismatics, known for its rarity, design, and historical importance. Minted during the early years of the United States, this coin reflects the artistry of the time and serves as a symbol of the nation’s growth. Due to its limited mintage and unique characteristics, it has become a prized possession for collectors, attracting attention in the numismatic market and auction houses alike.
Historical Context and Mintage
The 1804 Draped Bust Dime was minted in a time of transition in the U.S. It was part of the country’s efforts to establish a unique identity, as reflected in its design. With a remarkably low mintage of just 8,265 pieces, this dime holds a special place in history. The 1804 coin remains the rarest dime until the 1860s, and the low production numbers make it exceptionally scarce.
The obverse of the coin features Liberty, draped in flowing robes, which was designed by engraver Robert Scot. The reverse of the coin showcases the Heraldic Eagle, replacing the earlier Small Eagle motif. This change aligns with the country’s growing sense of identity, symbolizing strength and unity.
Varieties: 13 Stars and 14 Stars Reverse
The 1804 Draped Bust Dime is unique because it comes in two main reverse varieties: the 13 Stars Reverse and the 14 Stars Reverse. These two varieties are differentiated by the number of stars featured above the eagle on the reverse side of the coin.
13 Stars Reverse (JR-1)
The 13 Stars Reverse features stars representing the 13 original American colonies. This variety is rare, with only nine examples certified by PCGS, all in circulated condition. The finest example of this variety is graded NGC MS63.
14 Stars Reverse (JR-2)
The 14 Stars Reverse is even rarer and more interesting. The additional star reflects an engraver’s error, as the 14th state, Vermont, had joined the Union years earlier. Despite the mistake, this variety is considered highly collectible, with the best-known example also graded NGC MS63.
Rarity and Market Value
Due to the limited mintage and unique features, the 1804 Draped Bust Dime commands impressive auction prices, especially for coins in top condition. Recent auctions have highlighted the increasing value of this coin:
- $632,000 for a pale, golden-brown toned example
- $372,000 for an exceptional specimen with superior preservation
These figures demonstrate not only the historical significance of the coin but also its growing investment potential in the numismatic market.
Key Details of the 1804 Draped Bust Dime
Below is a table summarizing the key details of the 1804 Draped Bust Dime:
| Feature | Description |
|---|---|
| Mintage | 8,265 pieces |
| Design | Obverse: Draped Bust of Liberty Reverse: Heraldic Eagle |
| Varieties | 13 Stars Reverse (JR-1), 14 Stars Reverse (JR-2) |
| Composition | 89% Silver, 11% Copper |
| Diameter | 19 mm |
| Weight | 2.7 grams |
| Notable Auction Prices | $632,000 (Heritage Auctions) $372,000 (Exceptional JR-4) |
Collecting the 1804 Draped Bust Dime
For coin collectors, acquiring an 1804 Draped Bust Dime is a prestigious accomplishment. It’s often seen as a key coin in advanced collections, with its low mintage and historical value making it highly desirable.
However, due to its value, the 1804 Draped Bust Dime is also a target for counterfeiters. Therefore, collectors should always verify the authenticity of the coin and seek certification from reputable dealers and professional grading services.
Conclusion
The 1804 Draped Bust Dime is not just a rare coin; it is a piece of American history, representing a significant era in the country’s numismatic story. Its scarcity, intricate design, and two intriguing varieties make it a dream coin for collectors. As demand for this coin continues to grow, its value will likely continue to rise, making it a valuable addition to any serious collection.
For those fortunate enough to own or acquire an 1804 Draped Bust Dime, it is more than just a piece of currency—it is a tangible link to America’s early years.
FAQs
Why is the 1804 Draped Bust Dime so valuable?
The 1804 Draped Bust Dime is rare because it wasn’t officially minted, and only a few specimens survive.
How much is the 1804 Draped Bust Dime worth?
The 1804 Draped Bust Dime can be worth up to $150,000, depending on its condition.
Why was the 1804 Draped Bust Dime never officially produced?
The 1804 Draped Bust Dime is believed to have been struck using leftover dies from previous years.