The 1804 Draped Bust Dime stands as a testament to the rich tapestry of early American numismatics. With its intricate design, limited mintage, and historical significance, this coin has captivated collectors and historians alike. Its recent auction price of $632,500 underscores its esteemed status in the world of rare coins.
Historical Context
Minted during the early years of the United States Mint, the 1804 Draped Bust Dime was produced in Philadelphia, the nation’s sole minting facility at the time. The “Draped Bust” design, introduced in the late 18th century, features a portrait of Liberty draped in classical attire on the obverse, symbolizing the nation’s aspirations and ideals. The reverse showcases a heraldic eagle, reflecting the country’s sovereignty and strength.
Mintage and Rarity
The 1804 Draped Bust Dime boasts an exceptionally low mintage of just 8,265 coins, making it one of the scarcest issues in the series. This limited production was due to the fledgling nation’s modest demand for coinage and the Mint’s limited capacity. Over the centuries, many of these dimes have been lost or melted down, further enhancing their rarity and desirability among collectors.
Design Variations: 13 Stars vs. 14 Stars
A notable feature of the 1804 Draped Bust Dime is the existence of two distinct reverse designs:
- 13 Stars Reverse: This variety displays 13 stars above the eagle, representing the original thirteen colonies.
- 14 Stars Reverse: An intriguing anomaly, this version features 14 stars, an error by the engraver, as there were only 13 states in the Union at that time.
The 14 Stars variety is particularly rare and commands a premium among collectors due to its unique historical blunder.
Recent Auction Highlight
In a recent auction, an 1804 Draped Bust Dime fetched an impressive $632,500. This particular coin was lauded for its exceptional condition, exhibiting minimal wear and retaining much of its original luster. Such high-grade examples are exceedingly rare, contributing to the coin’s substantial auction price.
Factors Influencing Value
Several elements contribute to the high value of the 1804 Draped Bust Dime:
- Condition: Coins in mint state or with minimal wear are significantly more valuable.
- Rarity: The low mintage and survival rate elevate its scarcity.
- Historical Significance: As an early U.S. coin, it holds considerable historical importance.
- Design Variations: The 14 Stars reverse variety, due to its rarity, often commands higher prices.
Key Details of the 1804 Draped Bust Dime
| Feature | Description |
|---|---|
| Year of Minting | 1804 |
| Design | Draped Bust obverse; Heraldic Eagle reverse |
| Mintage | 8,265 coins |
| Composition | 89.24% Silver, 10.76% Copper |
| Diameter | 19 mm |
| Weight | 2.70 grams |
| Notable Varieties | 13 Stars Reverse; 14 Stars Reverse |
| Recent Auction Price | $632,500 |
The 1804 Draped Bust Dime is more than just a piece of currency; it is a tangible link to America’s early history. Its rarity, coupled with its exquisite design and historical significance, makes it a coveted treasure in the numismatic community. The recent auction price of $632,500 reflects the enduring allure and value of this remarkable coin.
FAQs
Why is the 1804 Draped Bust Dime so valuable?
Its value stems from its low mintage, historical significance, and the existence of rare design variations, particularly the 14 Stars reverse.
How can I identify the 14 Stars reverse variety?
Examine the reverse side of the coin above the eagle; if there are 14 stars instead of the standard 13, it is the rarer variety.
What factors affect the value of this coin?
Condition, rarity, historical significance, and specific design variations all influence its market value.
