how many 1804 silver dollars are there

[78] All silver dollars dated between 1800 and 1803 were subject to alteration to 1804 dollars, but 1801 was the date most commonly used for that purpose. [19] In addition to several other items, he requested a set of coins as an appropriate offering to Said bin Sultan: I am rather at a loss to know what articles will be most acceptable to the Sultan, but I suppose a complete set of new gold & silver & copper coins of the U.S. neatly arranged in a morocco case & then to have an outward covering would be proper to send not only to the sultan, but to other Asiatics.[21]. In total, only 15 specimens are known to exist. Unlike the original coins, these later restrikes lacked the correct edge lettering, although later examples released from the Mint bore the correct lettering. The 1804 Draped Bust dollar is one of the most famous coins in the world. [28] He delivered the next set to King Rama III of Siam the following year, on April 6. The Coinage Act of 1792, the legislation which provided for the establishment of the Mint of the United States (today the United States Mint), authorized coinage of multiple denominations of gold, silver and copper coins. Rama III, the King of Siam, received the second set of coins distributed by Roberts. [61] Numismatists Lyman H. Low and William T. R. Marvin, writing for the American Journal of Numismatics in 1899, stated that "the journal confidently asserts that there is no dollar dated 1804 which was struck in that year by the U.S. Most of them are fakes, because genuine coins are so valuable. **When we say that 19,750,000, of these coins were produced or minted in 1804 this number doesn't always match the actual circulation count for this coin. But what makes these 1804 dollars so special? There is a degree of mystery on exactly when these 1804 silver dollars were minted, though by most accounts numismatists believe it was around 1834 or 1835 that these special presentation pieces were struck. In 1832, commercial shipper Edmund Roberts began acting as an envoy to Asia on behalf of the United States government, with the intent of negotiating trade deals in the region. (3) The dates that the metal composition changed for each U.S. coin denomination throughout the years. There are a few rare Draped Bust dollars dated 1804. [42] The coin, which is the sole known Class II specimen in existence, was struck over an 1857 Swiss shooting thaler minted for the federal shooting festival held in Bern. [12][a] In his 1805 report, Mint Director Robert Patterson stated that "[t]he striking of small coins is a measure which has been adopted to accommodate the banks and other depositors, and at their particular request, both with a view of furnishing a supply of small change, and to prevent the exportation of the specie of the United States to foreign countries. See how many Draped Bust dollar coins were made and what they're … [34] In total, eight specimens of this type are known today. The United States Mint government authorized the production of a handful of 1804 dollars for use in special presentation proof sets that were given as diplomatic gifts overseas. [72], Counterfeits and spurious reproductions of the 1804 dollar have been created since numismatists became aware of the coins' high value. Draped Bust silver dollars are early American coins made from 1795 through 1803. [29] Roberts died in Macau on June 12, 1836, before he could initiate contact with any other nations. [60] In 1867, numismatist W. Elliot Woodward acknowledged that 1804 dollars were struck as diplomatic gifts in 1834, but he also believed that others were struck in 1804. [34] Based on the slightly concave appearance of the Class III dollars, it is likely that all were given edge lettering at some point after striking; as the Castaing machine was meant to be used prior to striking, its improper use resulted in a deformation of the coin surface. [70] In 1960, a Class III dollar fetched $28,000 at an auction conducted by Stack's, a coin firm, and the same coin reached $36,000 at another Stack's sale in 1963. Julian suggests that it could have been done to prevent angering collectors who would not have been able to acquire the 1834-dated coin for their collections; Chief Coiner Adam Eckfeldt, after consulting with Moore, mistakenly determined that 19,570 dollars bearing the date 1804 were struck in that year. [8][9] As a result, the United States silver dollars and unworn Spanish dollars were largely forced out of circulation in accordance with Gresham's law; the lighter Spanish dollars were shipped in quantity for circulation in the United States, while the heavier pieces would be turned in to the Philadelphia Mint to be recoined into United States coinage to take advantage of the discrepancy in weight. [19] In a letter to the Department of State dated October 8, 1834, Roberts decried the gifts of his previous journey as inadequate and insulting to his hosts in the Orient. There are six 1804 silver dollars in museums and nine in private hands. You are requested, therefore, to forward to the Department for that purpose, duplicate specimens of each kind now in use, whether of gold, silver, or copper. A. The 1804 class I or “original” draped bust silver dollars are widely known as the “King of American Coins”, and with good reason. From their discovery by numismatists, 1804 dollars have commanded high prices. Lately, we have experienced a sharp rise in calls from people who want to know how much their 1804 silver dollar is worth. [65] The deformation of the edge lettering was caused by pressure pushing the coinage metal against the steel collar containing the coin blank. The 1804 dollar or Bowed Liberty Dollar was a dollar coin struck by the Mint of the United States, of which fifteen specimens are currently known to exist. [45] Six specimens of the Class III dollar are known today. Besides those 1804 dollars produced for inclusion in the diplomatic sets, the Mint struck some examples which were used to trade with collectors for pieces desired for the Mint's coin cabinet. By tradition, all are categorized as “Proofs.” They are certainly not business strikes. For there are few coins in the American catalogue that have … All the rest are counterfeits, and counterfeits are worth zero. [71] A Class I specimen brought $77,500 at a 1970 Stack's auction, and during a 1980 rise in coin prices, a Class III example sold for $400,000 by Bowers and Ruddy Galleries. Moore consulted the Mint records, which indicated that 19,570 dollars were struck in 1804. [35], During the nineteenth century, Mint employees produced unauthorized copies of medals and coins, sometimes backdated. Here’s a rundown on the various major types of silver dollars that have been struck since the United States Mint began making them in 1794: Flowing Hair Dollar … (2) A list of the most valuable silver coins by denomination. There are three major US silver dollar coins … By most estimates, 1804 dollars, on the rare occasions they do appear at auction, are worth somewhere in the neighborhood of $2 million to $7 million depending on the individual specimen and the ever-changing conditions of the marketplace. These are large, heavy, silver coins that run from 1798 to 1804. There exist eight Class I 1804 dollars (“originals”), one Class II 1804 Dollar, and six Class III 1804 dollars (“restrikes”). It will save you money next time you decide to sell or buy silver dollars. Haseltine. What’s up? There are six 1804 silver dollars in museums and nine in private hands. [35], Collectors first became aware of the existence of the 1804 dollar in 1842, when a pantograph reproduction of one specimen was featured in A Manual of Gold and Silver Coins of All Nations, a work authored by Mint employees Jacob R. Eckfeldt and William DuBois. Silver Dollar Specimens There are 15 known specimens of the 1804 Silver Dollar in circulation. All existing 1804's were actually made after 1834 (in 0.900 silver) and have slightly variant weights. [40] In 1883, a Class III dollar was reportedly purchased in Vienna for $740, and a Class I specimen was auctioned for $1,000 in 1885 by Henry and Samuel H. By 1800, a majority of depositors requested their bullion be struck as silver dollars, which were then utilizing the Draped Bust design. While you may happen to be one of the few private owners of the 1804 dollar, it’s much more likely you in fact own one of the countless 1804 replica coins. However, those coins, struck from old dies as was common practice at the time, were dated 1803. [20] After the treaties were ratified in the United States, Roberts had to return to Siam and Muscat to receive approval from the representatives of those nations. The numbers come from the United States … US Silver Dollars are popular among coin collectors and investors, and one of the rarest and most popular of them all is the 1804 Silver Draped Bust Dollar. .mw-parser-output .tmulti .thumbinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}, In their book The Fantastic 1804 Dollar, numismatic historians Eric P. Newman and Kenneth E. Bressett assert that a problem arose at the Mint as to how to interpret Forsyth's order. [21], He also directed Moore to have two Morocco leather boxes made to house the coins. Auction prices reached $1,000 by 1885, and in the mid-twentieth century, the coins realized over $30,000. [39] In 1859, James Ross Snowden unsuccessfully requested permission from the Treasury Secretary to create patterns and restrikes of rare coins for sale to collectors, and in that year, dealers began offering plain edge 1804 dollars to the public. They can be sold for bullion value at your nearest coin dealer (about $19.27 at current silver spot price). Two additional sets were ordered for government officials in Japan and Cochinchina, but Roberts died in Macau before they could be delivered. Various private mints have produced replicas of the 1804 dollar … Class I dollars were made around 1834. Mint records indicate a total of 19,570 silver dollars were struck in 1804; however, researchers believe that all those coins were actually dated either 1802 or 1803 because leftover coin … 1804 Mint-Made Electrotype of Unique Plain-Edge – 4 minted. Early on, collectors assumed that the 1804 dollars were struck in 1804, and their rarity was explained by various theories. Some were brought back by service personnel returning from the Vietnam War. [4] According to the act, the dollar, or "unit", was to "be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". A. [51] Interest in coin collecting and the 1804 dollars began increasing, and by 1860, the dollars saw extensive coverage by numismatists. The collection of 1804 Silver Dollars consists of three classes. [25] The dollars included the sets bore the Draped Bust design, depicting an allegorical representation of Liberty on the obverse and a heraldic eagle on the reverse. This probably sounds illogical to the uninitiated, but there's really a rather simple explanation: Although they are dated 1804, all 15 of these rare silver dollars actually were minted decades later. [52] In 1885, auctioneer W.E. The finest example of the 1804 Class I silver dollar appeared at auction in 2016 and garnered a bid of more than $10 million but did not meet reserve and thus did not sell. It should be noted that the mintage figures above are … This page addresses counterfeit dollars between 1798 and 1804. On the surface, the 1802 would appear to be the rarest Heraldic Eagle Reverse dollar with a reported mintage of just … [75] In 2008, a Class I example was sold by Heritage Auctions for $3,737,500, and a Class III was sold by the same firm for $2,300,000 in 2009. Instead of being worth millions of dollars these coins … A. [5] The purity and weight standards outlined in the Act were based on the mean of several assays conducted on Spanish milled dollars. [11] This contributed to a shortage of small change in circulation, and as a result, the public became increasingly critical of the Mint. [43] Coins with added lettering are known as "Class III" 1804 dollars. [30] It is unknown why that date was chosen for the dollars, but numismatic historian R.W. [9] At that time, silver bullion was supplied to the Mint exclusively by private depositors, who, according to the Coinage Act of 1792, had the right to have their bullion coined free of charge. This, however, is extremely unlikely as 1804 dollars are among the most studied coins around and after some two centuries there is every reason to believe all pieces in any active ownership would have come to light. The pieces measure 38.1 millimeters in diameter and weighed 26.73 grams. [c] The moratorium on silver dollar coinage had been lifted in 1831, but none had been coined since those issued in March 1804. Q. I’ve got an 1804 silver dollar – where do I sell it? Though dated 1804, none were struck in that year; all were minted in the 1830s or later. [65] Additionally, many 1804 dollars were struck in proof finish, a technique which was first employed at the Mint in 1817. The first dollar coins, known as Flowing Hair dollars, were issued by the Mint beginning in 1794. Said bin Sultan was the recipient of a coin set containing an 1804 dollar. [39] At least three were offered for sale by various dealers in 1859, and coin dealer Ebenezer Locke Mason claimed that he was offered three by Theodore Eckfeldt, a Mint employee and nephew of Adam Eckfeldt (who had died in 1852). [81][g] One such coin in the collection of the San Francisco Mint was described by them as genuine from 1887 to 1927. A. Their high value has caused 1804 dollars to be a frequent target of counterfeiting and other methods of deception Previous counterfeit Morgan Silver Dollars have been identified with improper weights. Chapman. They were first created for use in special proof coin sets used as diplomatic gifts during Edmund Roberts' trips to Siam and Muscat. "[64], According to Newman and Bressett, the manner in which the 1804 dollars were produced is proof that none were struck in 1804. [53] Numismatic historian Q. David Bowers asserts that the 1804 dollar has attracted more attention than any other coin. Widely noted as the King of American coins, 1804 Draped Bust dollars are the poster child of United States rare coins and represent the holy grail of collecting for many hobbyists. [37] In the decades after the first 1804 dollars were produced, collectors became aware of their existence and desired to obtain them. Silver dollars, and the $1 denomination, were sparsely minted between 1804 and 1836, with the Gobrecht dollar minted at times during this 32-year period. As the auction results … Edmund Roberts distributed the coins in 1834 and 1835. [63] In 1905, he recanted his earlier assertions, stating that "no one now believes that they were coined in 1804. "[15] Though none had been struck for over two years, Secretary of State James Madison officially suspended silver dollar coinage on May 1, 1806, addressing a letter to Patterson: Sir: In Consequence of a representation from the director of the Bank of the United States that considerable purchases have been made of dollars coined at the mint for the purpose of exporting them, and as it is probable further purchases and exportations will be made the President directs that all the silver to be coined at the mint shall be of small denominations, so that the value of the largest pieces shall not exceed half a dollar.[16]. 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