Today, there are thousands or millions of coin collectors. Others are into buying gold and silver mint coins because they are good investments. Others are genuine coin collectors who are always on the look out for rare finds.
There are quite a number of impressive silver coins as well as gold coins that are still on sale or in circulation in the United States alone. What more in Europe and Canada. Man’s fascination and love for the finer things in life such silver and gold had made the bullion minting industry as one of the more stable industries in the United States as well as the European business.
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. Also known as the Dexter Dollar. 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.
Let us take a look at some of the most important facts behind the 1804 Draped Bust Dollar for your information.
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.
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
Before the 19th century ended the 1804 Draped Bust 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, a 1804 Draped Bust Dollar – Dexter Dollar was sold for $750, which is about $12,000 if converted in our money today. But in 1999 its’ price soar to about $140,000!
If you are one of the few who holds a 1804 Draped Bust Dollar – Dexter Dollar in possession, you are very 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.
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