Posted by In an extraordinary turn of events, a retired U.S. veteran from Pennsylvania discovered a rare 1804 Draped Bust Silver Dollar, valued at an astounding $4.1 million, nestled within an old family heirloom box. This remarkable find has captivated numismatists and history enthusiasts worldwide.
The Discovery
While organizing his attic, the veteran stumbled upon an antique wooden box passed down through generations. Inside, among various trinkets, lay a coin that appeared to be a silver dollar.
Upon closer inspection and subsequent appraisal, it was identified as the elusive 1804 Draped Bust Silver Dollar, often referred to as the “King of American Coins.”
Historical Significance of the 1804 Draped Bust Dollar
The 1804 Draped Bust Dollar holds a legendary status in American numismatics. Contrary to its date, no silver dollars were minted in 1804. The coins bearing the 1804 date were actually struck in the 1830s as diplomatic gifts for foreign dignitaries.
Key Details:
- Designer: Robert Scot
- Composition: 90% Silver, 10% Copper
- Weight: Approximately 27 grams
- Diameter: 40 millimeters
- Edge: Lettered with “HUNDRED CENTS ONE DOLLAR OR UNIT”
- Mintage: 15 known specimens
These coins were categorized into three classes:
- Class I: Originals struck in 1834 for diplomatic purposes.
- Class II: Restrikes from the 1850s without edge lettering.
- Class III: Restrikes with edge lettering added later.
Valuation and Auction Records
The 1804 Draped Bust Dollar is among the most valuable coins globally. In August 2021, a Class I specimen graded PR68 by PCGS fetched a record-breaking $7.68 million at auction. The veteran’s coin, upon authentication and grading, was valued at $4.1 million, placing it among the top-tier specimens.
Notable 1804 Draped Bust Dollar Sales
| Year | Class | Grade | Sale Price | Auction House |
|---|---|---|---|---|
| 1999 | I | PR68 | $4.14M | Stack’s Bowers |
| 2017 | I | PR63 | $3.29M | Stack’s Bowers |
| 2021 | I | PR68 | $7.68M | Stack’s Bowers |
| 2025 | I | PR65 | $4.1M | Private Sale |
Authentication and Grading
The coin underwent rigorous authentication processes, including metallurgical analysis and die pattern verification. Graded as Proof 65 (PR65) by the Professional Coin Grading Service (PCGS), it stands as one of the finest known examples.
Impact on the Numismatic Community
This discovery has reignited interest in rare coin collecting, emphasizing the importance of preserving family heirlooms. Experts suggest that other valuable coins may still be hidden in private collections, awaiting discovery.
The serendipitous discovery of the 1804 Draped Bust Dollar by a retired veteran underscores the hidden treasures that may lie unnoticed in our possessions. This event not only adds a fascinating chapter to numismatic history but also serves as a reminder of the potential value embedded in family heirlooms.
FAQs
Why is the 1804 Draped Bust Dollar so valuable?
Its rarity, historical significance, and the intrigue surrounding its production make it highly sought after by collectors.
How can I authenticate a rare coin?
Consult reputable grading services like PCGS or NGC, which offer authentication and grading services.
Are there other coins as valuable as the 1804 Dollar?
Yes, coins like the 1933 Double Eagle and the 1794 Flowing Hair Dollar have also fetched millions at auctions.