Draped Bust

The Bust Dollar was minted 1795-1804. The Bust Dollar is named for the design of liberty on the obverse that was uniform with all lesser currencies of the United States at the time (non gold coins). The coin had two different reverses, the earlier being the old reverse from the Flowing Hair Dollar that preceded the Bust Dollar and the second being a heraldic eagle design that emulates the Great Seal of the United States. The obverse and second reverse were designed by Robert Scot, with the first reverse designed by John Eckstein.

SPECIFICATIONS

Obverse Design: Bust form of Lady Liberty

1st Reverse Design: A Bald Eagle surrounded by a wreath

2nd Reverse Design: A Bald Eagle in heraldic form (Coat of Arms)

• Edge: Lettered - HUNDRED CENTS ONE DOLLAR OR UNIT
• Weight: 26.96 grams
• Diameter: 39 or 40 millimeters
• Composition: 90% Silver, 10% Copper
• Silver Content: 0.7737 ounces

HISTORY

The Bust Dollar replaced the United States' first dollar coin, the Flowing Hair Dollar in its second year of 1795. The Bust Dollars of 1795-1798 have the older reverse of the bald eagle in the wreath but this was replaced in 1798 with the heraldic, coat of arms reverse. The Bust Dollar had a consistent mintage but has many different errors/varieties. Coinage continued until 1804 with 19,570 coins being minted in 1804. These coins were not dated 1804 but 1803. Coins dated 1804 are the most valuable dollars and were the most valuable United States coins before the sale of the 1933 St. Gaudens Double Eagle. 1804 dollars have become a symbol of American numismatics. There are 15 known coins with 1 residing in the Smithsonian Institute. For more info see 1804 silver dollar.

MINTS

All coins were minted at:

(P - Philadelphia Mint in Philadelphia, Pennsylvania)

SUSPENSION OF THE SILVER DOLLAR

After 1804, the mintage of silver ceased. There are many reasons for this including the presence of the Spanish Pillar Dollar in America. Before the United States started minting of its own coinage, the Pillar Dollar was circulated as standard currency in the colonies alongside British and French coinage. Another reason for the ending of silver dollars was the work of silver speculators that plucked newly minted American coinage out of circulation and replacing them with worn Pillar Dollars. This combination, along with the adequacy of the Half Dollar, lead to the temporary suspension of the silver dollar. This suspension was lifted in 1831 but dollars were not being minted until 1836 when the Gobrecht Dollar began being minted even though it was in small amounts. In 1840, dollars were minted at levels before the suspension. Even more dollars were minted in 1849 when the Liberty Head Gold Dollar - Type I was introduced during the California Gold Rush.

Information taken from Wikipedia, the free encyclopedia