The 1799 Draped Bust dollar is a cherished piece of American numismatic history. Known for its classic design and historical significance, it represents one of the earliest silver dollars minted in the United States. Collectors and history enthusiasts alike treasure these coins for their connection to America’s early years. The “8×5 Stars Obverse” detail refers to the unique star arrangement on the front, which has eight stars on one side and five on the other, surrounding the bust of Lady Liberty. This specific variant is part of the Draped Bust dollar series, which was minted from 1795 to 1804.
Let’s dive into the details of this beautiful coin, including its history, unique features, and value in today’s market.
Historical Background
The 1799 Draped Bust dollar was produced during a period when the United States was solidifying its coinage system. The Mint Act of 1792 had established a monetary system, and by the late 1790s, the U.S. Mint was regularly producing coins. These silver dollars were among the largest and most valuable coins in circulation at the time, showcasing the young nation’s ambition and identity.
The Draped Bust design was created by famed artist Gilbert Stuart, who also designed the portrait of George Washington seen on today’s dollar bill. Stuart’s rendition of Lady Liberty is elegant and graceful, reflecting the classical style that was popular in art and architecture during that era.
Unique Features of the 1799 Draped Bust Dollar
The 1799 Draped Bust dollar has several features that make it stand out:
- Obverse Design (Front):
- The obverse side displays Lady Liberty with flowing hair and a draped garment.
- She is surrounded by 13 stars, arranged in an 8×5 pattern, symbolizing the original 13 colonies.
- Above her head is the word “LIBERTY,” and below is the date “1799.”
- Reverse Design (Back):
- The reverse features a majestic eagle with a shield on its chest.
- The eagle holds an olive branch, symbolizing peace, and arrows, symbolizing defense.
- Encircling the eagle is the motto “E PLURIBUS UNUM,” meaning “Out of Many, One.”
- The coin also includes “UNITED STATES OF AMERICA” around the edge.
- Metal Content and Size:
- The 1799 Draped Bust dollar is composed of 89.24% silver and 10.76% copper.
- It has a diameter of about 39-40mm and weighs around 26.96 grams.
- Variations and Errors:
- There are known variations in the 1799 Draped Bust dollar, including the 8×5 stars arrangement and other date spacing variations, which are of particular interest to collectors.
- Some coins display small minting errors, adding to their rarity and value.
Value and Collectability
The 1799 Draped Bust dollar is a valuable coin, especially in good condition. Prices for these coins vary widely based on their condition, rarity, and demand among collectors. Factors that affect its value include:
- Condition (Grading): Coins in higher grades (better condition) are worth significantly more.
- Historical Significance: This coin is over two centuries old, making it a prized item for those interested in American history.
- Demand: The 1799 Draped Bust dollar is popular among collectors, which keeps its market value high.
Here’s a general guide to the value of the 1799 Draped Bust dollar:
| Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) | $1,800 – $3,000 |
| Very Fine (VF-20) | $5,000 – $8,000 |
| Extremely Fine (EF-40) | $10,000 – $15,000 |
| Mint State (MS-60) | $20,000 – $40,000 |
| Proof (PF-63) | $50,000+ |
These values are estimates and can fluctuate depending on market demand and rarity.
Conclusion
The 1799 Draped Bust dollar is a window into early American history. With its classical design and unique 8×5 star arrangement, it reflects the artistic and patriotic spirit of its time. For collectors, this coin is more than just a piece of silver; it’s a connection to the founding years of the United States. Whether you’re an experienced collector or a history enthusiast, owning a 1799 Draped Bust dollar can be both a rewarding and valuable experience.
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FAQs
Q1: Why is the 1799 Draped Bust dollar considered rare?
The 1799 Draped Bust dollar is rare due to its age, historical significance, and limited mintage. Many have not survived in good condition, making high-quality examples highly collectible.
Q2: What does “8×5 Stars Obverse” mean?
The “8×5 Stars Obverse” refers to the arrangement of stars around Lady Liberty’s head, with eight stars on one side and five on the other, representing the 13 original colonies.
Q3: How can I tell if my 1799 Draped Bust dollar is genuine?
Look for signs of authenticity, such as correct weight, diameter, and design details. Consulting a professional coin appraiser or grading service is the best way to verify authenticity.
Q4: What affects the value of a 1799 Draped Bust dollar?
Condition, rarity, and demand among collectors greatly affect its value. High-grade coins or those with unique characteristics (like minting errors) are more valuable.
Q5: Where can I buy or sell a 1799 Draped Bust dollar?
You can buy or sell this coin at reputable coin dealers, auction houses, and online marketplaces. Be sure to work with trusted sources to ensure authenticity.