1804 Draped Bust Dollar - Dexter Dollar - Four Important Facts

It is a known fact that there are so many coin collectors today and even before. Others are into buying gold and silver mint coins because they are good investments. Others are real coin collectors who are constantly searching the market for the next rare, antique or valuable coin at auctions and many other venues.

In the U.S. alone, there are quite a number of impressive silver and gold coins available. What more in Europe and Canada. Man's love for precious things made the gold and silver industry very stable.

One of the finest dollar coins ever minted in the United States, the Draped Bust Dollar is also one of the most popular coins to collect. It is also called the Dexter Dollar by many coin collectors in the United States and other parts of the world. The fascination of many people including avid coin collectors to the Draped Bust Dollar extends up to this date. Its design and execution is something true coin collectors would love to have in their treasure chest.

Following are important facts about this coin that you may find interesting.

The Design

On the contrary, the designer of this fine coin is unknown. But because of the distinct style and pattern, it was believed to be designed by Gilbert Stuart, a famous coin designer. The model is also unknown but a lot of experts believe it to be Anne Willing Bingham.

At the obverse, was the image of the Liberty with her hair in intricate curls. The reverse side is the American bald eagle in heraldic form.

Silver put to a Stop

During the minting of the Draped Bust Dollar, Mint Director Elias Boudinot ordered a great change in its silver content. Instead of .900 or 90% silver purity, it was decreased to .892 or 89.2%. This is largely due to the decrease in silver that was deposited at the Philadelphia Mint. In 1804 the minting of silver coins was officially halted and was altogether put to a stop in 1806.

Collecting Frenzy

The coin only became popular when the son of Adam Eckfeldt, Jacob Eckfeldt and partner William Du Bois wrote and published a notable book known as "A Manual of Gold and SIlver Coins of all Nations, Struck Within the Past Century".

The Coin’s Popularity

By the end of 1804, the 1804 Draped Bust Dollar - Dexter Dollar became the talk of the town. Its design and silver purity made it one of the most sought after coins in the United States. It has become the most famous of all American minted coins.

In 1867 one of the originally minted 1804 Draped Bust Dollar was auctioned and sold for $750 which is about almost $12,000 in our money today. But in 1999 its’ price soar to about $140,000!

If you are one of the lucky few who are in possession of one or some of the original 1804 Draped Bust Dollar then you are truly lucky. It is best to hold on to it and if you are thinking about selling, now is probably the best time. The price of gold and silver in the market are quite high.

By: Daryl B. Chapman

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