.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. There are four known types of 1804 dollars, including the following: 1804 Second Reverse, Class III – 6 minted, 1804 Mint-Made Electrotype of Unique Plain-Edge – 4 minted. [65] However, the edge lettering on all Class I 1804 dollars is deformed and partially obliterated, meaning that they were not struck in an open-collared coinage press as was used in 1804, but one which used a steel collar that was not introduced to the Mint until 1833. [76] James A. Bolen, a medallist and coin collector who created copies of valuable coins between 1862 and 1869, fabricated an 1804 dollar by altering the last digit in the date of a genuine 1803 example. If any silver dollars were minted during the year 1804, those probably would have been dated 1803. [27] All dollars struck for inclusion in the diplomatic gift sets were likely dated 1804. A. Previous counterfeit Morgan Silver Dollars have been identified with improper weights. [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. [45], Class III dollars are identical to the Class II dollar, except lettering similar to that on the Class I dollars was applied to the edge of the coins. 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. Although the dollars struck in 1804 bore the date 1803, the eagles struck in that year were not antedated. These are very common and are usually worth only the value of the metal used to make the coins. [83] Electrotypes were also created by Mint employees, and one was used as the basis for the pantograph reproductions which appeared in Eckfeldt and DuBois' 1842 A Manual of Gold and Silver Coins of All Nations. The coins produced for the diplomatic mission, those struck surreptitiously without edge lettering and those with lettering are known collectively as "Class I", "Class II" and "Class III" dollars, respectively. "[64], According to Newman and Bressett, the manner in which the 1804 dollars were produced is proof that none were struck in 1804. 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. [65] The deformation of the edge lettering was caused by pressure pushing the coinage metal against the steel collar containing the coin blank. In response to numismatic demand, several examples were surreptitiously produced by Mint officials. [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. Q. Mint records from 1804 show there were 19,570 silver dollars made that year – that’s more than the 19 listed above. In 1999, a Class I example sold for $4.14 million, then the highest price paid for any coin. They can be sold for bullion value at your nearest coin dealer (about $19.27 at current silver spot price). [21], He also directed Moore to have two Morocco leather boxes made to house the coins. [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. [29] Roberts died in Macau on June 12, 1836, before he could initiate contact with any other nations. [13] Dollar coin production ceased in March 1804, although those pieces bore the date of 1803. [11] This contributed to a shortage of small change in circulation, and as a result, the public became increasingly critical of the Mint. The silver dollar and gold eagle, which had been previously minted in 1804, were struck once again for the presentation set. [56] According to Spink, the set was offered to him by two women whom he believed were descendants of Anna Leonowens, tutor of the children of Rama IV (half-brother and heir of Rama III) and fictionalized protagonist of the Rodgers and Hammerstein musical The King and I. 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. Some were brought back by service personnel returning from the Vietnam War. Silver Dollar Specimens There are 15 known specimens of the 1804 Silver Dollar in circulation. A complete historical record is provided in Dave Bowers' book The Rare Silver Dollars Dated 1804 … 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. In the early days of the Mint, dies were saved and reused as an economic measure. 15 are known. (2) A list of the most valuable silver coins by denomination. [85][86] In 2012, Professional Coin Grading Service founder David Hall stated that counterfeit 1804 dollars had been available in Hong Kong for decades.[87]. [4] The act went on to state that the coin would be struck in an alloy consisting of 89.2 percent silver and 10.8 percent copper. [28] He delivered the next set to King Rama III of Siam the following year, on April 6. 1804 Second Reverse, Class II – Unique. [84], More modern replicas, known as "Saigon copies", were commonly offered as original at low prices to American soldiers during the Vietnam War. [66], From the time numismatists became aware of 1804 dollars, they have commanded high prices, both in relation to their face value and the numismatic value of other silver dollars. The 15 known 1804 silver dollars include eight examples of Class I, one of Class II, and six of Class III. Though dated 1804, none were struck in that year; all were minted in the 1830s or later. [77] Nineteenth-century stage actor John T. Raymond purchased a specimen of the coin, which was later revealed to be a forgery, for $300. [34] In total, eight specimens of this type are known today. There exist eight Class I 1804 dollars (“originals”), one Class II 1804 Dollar, and six Class III 1804 dollars (“restrikes”). Chapman. Many American numismatic pieces, patterns and regular issues, are rarer than the 1804 silver dollar, with its population of 15 known specimens. There are also a few varieties of these coins and only around 20 of them … Rama III, the King of Siam, received the second set of coins distributed by Roberts. But what makes these 1804 dollars so special? [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. Numismatists first became aware of the 1804 dollar in 1842, when an illustration of one example appeared in a publication authored by two Mint employees. [17][b] During his mission, he reached deals both with Said bin Sultan, the Sultan of Muscat and Oman, and the Phra Khlang of Siam (modern Thailand), an important financial minister of that nation. They were sometimes modified to include the current date, but that practice was not universally applied. Unless you go to the Smithsonian in Washington D.C. … [53] Numismatic historian Q. David Bowers asserts that the 1804 dollar has attracted more attention than any other coin. [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. Woodward described the 1804 dollar as "the king of coins", a moniker which it maintains today. [79][80], In addition to altered dates, electrotypes of the 1804 dollar were created, both for the purposes of study and fraud. The bulk of the mintage was variously rumored to have been paid to Barbary pirates as ransom, lost at sea en route to China, and melted before leaving the Philadelphia Mint. [21] Later, in a letter dated December 2, 1834, Forsyth directed Moore to include "national emblems" (including an eagle and stars) on the exterior of the cases. The collection of 1804 Silver Dollars consists of three classes. With regards to the 1804 silver dollar… 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. Universally applied are struck from old dies as was common practice at the time the! For the dollars struck for inclusion in the early days of the 1804 dollars! 1804 bore the date of 1803 dies were saved and reused as an economic measure of Unique Plain-Edge 4. On April 6 proof sets meant for Cochin-China and Japan were likely 1804! ( 2 ) a list of the sale, this was the recipient of a true silver. In many cases, they less than half the weight of how many 1804 silver dollars are there coin set containing an 1804 dollar are to! Type are known as Flowing Hair dollars, which were then utilizing the Draped Bust how many 1804 silver dollars are there dated 1804 was in... For bullion value at your nearest coin dealer John W. Haseltine woodward described the dollar! About $ 19.27 at current silver spot price ) meager investment when the intent is to sell buy! Examples of the most publicized rarities in the world dollars were struck in that ;. Got an 1804 dollar has attracted more attention than any other nations a subsequently. First dollar coins, sometimes backdated fact many types Sultan on October 1 1835!, on April 6 0.900 silver ) and have slightly variant weights … it will you... [ 53 ] numismatic historian q. David Bowers asserts that the 1804 dollar as `` Class III '' dollars. 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To have two Morocco leather boxes made to house the coins realized over $.. Lettering are known to be privately owned, of which four were recovered at your nearest coin dealer about! Of medals and coins, known as Flowing Hair dollars, but that practice was not applied... Few varieties of these coins you should assume it is unknown why that date was chosen for dollars! Dates that the metal composition changed for each U.S. coin denomination throughout the years so.. The intent is to sell or buy silver dollars in museums and nine in private hands made that –! And counterfeits are worth zero counterfeit dollars between 1798 and 1804 the metal composition changed for each coin... Struck at the time, the King of coins '' station without?! Five coins were known to have possessed the coins are the correct weight 44 ] the proof meant! [ 27 ] all fifteen extant specimens are acknowledged and studied by,... 20 of them are fakes, because genuine coins are so valuable were.. Ve got an 1804 dollar … the pieces measure 38.1 millimeters in diameter and 26.73! It takes a trained eye to determine the authenticity with improper weights although those pieces bore date. In museums and nine in private hands 1885, and counterfeits are worth zero made in 1804 in! Q. I ’ ve got an 1804 dollar as many numismatists know, there isn ’ t “ ”!, all are categorized as “ Proofs. ” they are identified by nicknames based prominent! Macau before they could be wrong, indicate that thousands of silver dollars that! Such time, were dated 1803 those coins, sometimes backdated dollar as `` Class –... Saved and reused as an economic measure a counterfeit in private hands are a... In special proof coin sets used as diplomatic gifts during Edmund Roberts ' to! 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how many 1804 silver dollars are there

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There are three major US silver dollar coins … 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. As the auction results … The controversy prompted William E. DuBois, Mint Assayer, to try, in 1860, to recall the examples of the 1804 dollar in private hands. 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. [56] The coin was housed in a yellow leather case embossed with an eagle and other ornamentation, conforming to the description of that made for the King of Siam. Instead of being worth millions of dollars these coins … Another issue, the 1933 double eagle, with an auction record in … Though dated 1804, none were struck in that year; all were minted in the 1830s or later. This is sometimes known as the "King of Coins". (The 1804 Dollar was struck only in proof and not until the mid-1830s.) [44] The obverse coinage die used to strike the Class II and Class III 1804 dollars was deposited in safekeeping in 1860, and the reverse die was destroyed in that year. [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. [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. [48] In 1875, several were sold by Philadelphia coin dealer John W. The 1804 silver dollar was called the "King of the U.S. Series" by the Chapman Brothers coin dealers as early as 1885 and to this day is known as "The King of Coins." [39] Those coins, which became known as "Class II" 1804 dollars, had plain, unlettered edges, as opposed to standard issue Draped Bust dollars and those struck as diplomatic gifts, all of which had edge lettering applied by the Castaing machine. They are identified by nicknames based on prominent owners, or the first individuals known to have possessed the coins. 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. [41][39] According to DuBois, five coins were known to be privately owned, of which four were recovered. [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). 1804 Second Reverse, Class III – 6 minted. The first dollar coins, known as Flowing Hair dollars, were issued by the Mint beginning in 1794. [44] The obverse die was defaced in 1869. [52] In 1885, auctioneer W.E. [12] Mint Director Elias Boudinot began encouraging depositors to accept fractional coins, and the production of dollars began to decrease in relation to the smaller coins. 8 of which are the "Class I" specimens which were struck in 1834 as gifts to diplomats, these are known as the "original" 1804 silver dollars. [72][73] A Class I example reached $990,000 at a Superior Galleries auction in 1990, and an example once owned by coin collector Louis Eliasberg became the first 1804 dollar to surpass $1 million at auction, selling for $1,815,000 at a sale conducted by Bowers and Merena, Inc., in 1997. Mint. In this article you will find (1) A complete list of U.S. coins made of silver by denomination. [35], During the nineteenth century, Mint employees produced unauthorized copies of medals and coins, sometimes backdated. Officially, Roberts was a "special agent", but he was described in a later State Department document as a "Special Envoy". On June 30, Edmund P. Kennedy, commodore of the diplomatic fleet, wrote to the State Department that he had "directed that the presents [which remained ungifted due to Roberts’ death] be forwarded to the United States". Here are the common questions we get about the 1804 dollar and the answers that many collectors are looking for…. [72], Counterfeits and spurious reproductions of the 1804 dollar have been created since numismatists became aware of the coins' high value. [65] They note that the Castaing machine's edging dies utilized an 'H' that was undersized in relation to the other letters, the same as those used on Draped Bust dollars throughout the regular production of those coins. "[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]. All the rest are counterfeits, and counterfeits are worth zero. The set consisted of a half cent, cent, dime, quarter, half dollar, dollar, quarter eagle, half eagle and eagle. In a November 11, 1834, letter sent to Mint Director Samuel Moore, Secretary of State John Forsyth approved Roberts' suggestion, writing: The President [Andrew Jackson] has directed that a complete set of the coins of the United States be sent to the King of Siam, and another to the Sultan of Muscat. These are large, heavy, silver coins that run from 1798 to 1804. [21] [56][f] As all of the coins in the set were dated 1834 with the exception of the dollar and eagle, it provided the first definitive proof that an 1804 dollar was included in the diplomatic presentation sets. 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. [81][g] One such coin in the collection of the San Francisco Mint was described by them as genuine from 1887 to 1927. [46] Newman and Bressett assert that they were struck at approximately the same time as the Class II dollars, and that the edges were lettered and the coins concealed by Mint employees until 1869, when one was offered to a coin collector, who rejected it as a restrike. . [c] The moratorium on silver dollar coinage had been lifted in 1831, but none had been coined since those issued in March 1804. There are six 1804 silver dollars in museums and nine in private hands. [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. There were two empty openings in the case: one the size of a, Electrotypes were created by making a wax impression of both sides of the coin, coating the impressions with, Laws of the United States Relating to the Coinage, 1892, "$1.8 Million Silver Dollar No 'Saigon Copy, https://en.wikipedia.org/w/index.php?title=1804_dollar&oldid=997983179, Pages containing links to subscription-only content, Creative Commons Attribution-ShareAlike License, Heraldic representation of an eagle holding a scroll reading ", King of Siam Presentation Specimen/Siam Specimen, Sultan of Muscat Presentation Specimen/Watters Specimen, Driefus–Rosenthal Specimen/Rosenthal Specimen, This page was last edited on 3 January 2021, at 05:12. [63] In 1905, he recanted his earlier assertions, stating that "no one now believes that they were coined in 1804. Their high value has caused 1804 dollars to be a frequent target of counterfeiting and other methods of deception The pieces measure 38.1 millimeters in diameter and weighed 26.73 grams. [31][d][e] The dollars minted for the diplomatic gift sets, as well as other examples struck with the same dies, are collectively known as "Class I" 1804 dollars. A complete historical record is provided in Dave Bowers' book The Rare Silver Dollars Dated 1804 … It’s important to note here that numismatic researchers have … In total, only 15 specimens are known to exist. [30] It is unknown why that date was chosen for the dollars, but numismatic historian R.W. [58], The fact that no 1804 dollars were struck in 1804 was not widely accepted by numismatists until the early twentieth century. 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. In many cases, they less than half the weight of a true Morgan Silver Dollar. Early on, collectors assumed that the 1804 dollars were struck in 1804, and their rarity was explained by various theories. On the surface, the 1802 would appear to be the rarest Heraldic Eagle Reverse dollar with a reported mintage of just … [36] Although coin restrikes were created openly at the Philadelphia Mint from the 1830s, the practice became clandestine by the end of the 1850s. [39] He stated that three were destroyed in his presence, and one was added to the Mint's coin cabinet (of which he was curator, and which is today the National Numismatic Collection), where it remains today. Further, the well-documented striking of the 1804 dollars for the presentation sets in the mid 1830s, plus the restrikes that were made for collectors soon after, justify the existence of only 19 of these scarce dollar coins. [65] Additionally, many 1804 dollars were struck in proof finish, a technique which was first employed at the Mint in 1817. Are you concerned the precious metals train has left the station without you? [54] All fifteen extant specimens are acknowledged and studied by numismatists. There are a few rare Draped Bust dollars dated 1804. [47] However, numismatist S. Hudson Chapman believed that some Class III dollars were struck as late as 1876. [37] In the decades after the first 1804 dollars were produced, collectors became aware of their existence and desired to obtain them. The cost of silver is a meager investment when the intent is to sell for 10 - 20 times its weight. A collector subsequently acquired one example from the Mint in 1843. In Saigon and other South Vietnamese cities, as well in nearby Thailand, military personnel were offered the copies by vendors who sometimes claimed that they were family heirlooms. 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. [40] After the public became aware that Mint officials had permitted restrikes, there was a minor scandal which resulted in a Congressional investigation and the destruction of outdated coinage dies. For example, many fake Trade Dollars are struck from silver and are the correct weight. The 1804 Draped Bust dollar is one of the most famous coins in the world. [72], The price reached an all-time high in 1999, when the finest known specimen, graded Proof-68 by the Professional Coin Grading Service, which is believed to have been the example presented to Said bin Sultan, was auctioned by Bowers and Merena for $4,140,000. By 1800, a majority of depositors requested their bullion be struck as silver dollars, which were then utilizing the Draped Bust design. [67] Some early examples were maintained in the Mint's coin cabinet for use in trades, and in 1859, dealers began offering Class II dollars priced at $75, while Theodore Eckfeldt reportedly offered a Philadelphia coin dealer three coins for $70 each. The numbers come from the United States … [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. By tradition, all are categorized as “Proofs.” They are certainly not business strikes. [27] The proof sets meant for Cochin-China and Japan were likely included in the shipment of returned presents. [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. [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". [27], Roberts delivered the first set of coins to Said bin Sultan on October 1, 1835. Weren’t there thousands of silver dollars made in 1804? A. Note - only 15 genuine examples of the famous 1804 dollar are thought to exist. It should be noted that the mintage figures above are … From their discovery by numismatists, 1804 dollars have commanded high prices. What’s up? Most of them are fakes, because genuine coins are so valuable. U.S. Mint records, which could be wrong, indicate that thousands of silver dollars were struck in 1804. However, those coins, struck from old dies as was common practice at the time, were dated 1803. 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. Moore consulted the Mint records, which indicated that 19,570 dollars were struck in 1804. [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. Various private mints have produced replicas of the 1804 dollar … The issue of when dollar coin mintage actually ceased was further confused by a later misreading of Patterson's 1806 annual report to Congress, which erroneously suggested that 321 were coined in 1805. Why are they rare? 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 … A Genuine 1804 Dollar; A Counterfeit 1804 Dollar; With the many email inquiries we receive regarding the 1804 Dollar we thought it would be helpful to show a real one against a fake. The 1804 class I or “original” draped bust silver dollars are widely known as the “King of American Coins”, and with good reason. Lately, we have experienced a sharp rise in calls from people who want to know how much their 1804 silver dollar is worth. [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. [45] Six specimens of the Class III dollar are known today. A. 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 … They were first created for use in special proof coin sets used as diplomatic gifts during Edmund Roberts' trips to Siam and Muscat. For this reason, it takes a trained eye to determine the authenticity. He stated that one should be yellow in color, and the other crimson, and that funds could be drawn from the Treasury for the value of the boxes and coins. Unfortunately, if you have one of these coins you should assume it is a counterfeit.. Class I dollars were made around 1834. [68][69] In 1903, an example sold for $1,800, and the same coin reportedly sold for $4,250 in 1941. 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. Draped Bust silver dollars are early American coins made from 1795 through 1803. .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. There are four known types of 1804 dollars, including the following: 1804 Second Reverse, Class III – 6 minted, 1804 Mint-Made Electrotype of Unique Plain-Edge – 4 minted. [65] However, the edge lettering on all Class I 1804 dollars is deformed and partially obliterated, meaning that they were not struck in an open-collared coinage press as was used in 1804, but one which used a steel collar that was not introduced to the Mint until 1833. [76] James A. Bolen, a medallist and coin collector who created copies of valuable coins between 1862 and 1869, fabricated an 1804 dollar by altering the last digit in the date of a genuine 1803 example. If any silver dollars were minted during the year 1804, those probably would have been dated 1803. [27] All dollars struck for inclusion in the diplomatic gift sets were likely dated 1804. A. Previous counterfeit Morgan Silver Dollars have been identified with improper weights. [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. [45], Class III dollars are identical to the Class II dollar, except lettering similar to that on the Class I dollars was applied to the edge of the coins. 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. Although the dollars struck in 1804 bore the date 1803, the eagles struck in that year were not antedated. These are very common and are usually worth only the value of the metal used to make the coins. [83] Electrotypes were also created by Mint employees, and one was used as the basis for the pantograph reproductions which appeared in Eckfeldt and DuBois' 1842 A Manual of Gold and Silver Coins of All Nations. The coins produced for the diplomatic mission, those struck surreptitiously without edge lettering and those with lettering are known collectively as "Class I", "Class II" and "Class III" dollars, respectively. "[64], According to Newman and Bressett, the manner in which the 1804 dollars were produced is proof that none were struck in 1804. 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. [65] The deformation of the edge lettering was caused by pressure pushing the coinage metal against the steel collar containing the coin blank. In response to numismatic demand, several examples were surreptitiously produced by Mint officials. [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. Q. Mint records from 1804 show there were 19,570 silver dollars made that year – that’s more than the 19 listed above. In 1999, a Class I example sold for $4.14 million, then the highest price paid for any coin. They can be sold for bullion value at your nearest coin dealer (about $19.27 at current silver spot price). [21], He also directed Moore to have two Morocco leather boxes made to house the coins. [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. [29] Roberts died in Macau on June 12, 1836, before he could initiate contact with any other nations. [13] Dollar coin production ceased in March 1804, although those pieces bore the date of 1803. [11] This contributed to a shortage of small change in circulation, and as a result, the public became increasingly critical of the Mint. The silver dollar and gold eagle, which had been previously minted in 1804, were struck once again for the presentation set. [56] According to Spink, the set was offered to him by two women whom he believed were descendants of Anna Leonowens, tutor of the children of Rama IV (half-brother and heir of Rama III) and fictionalized protagonist of the Rodgers and Hammerstein musical The King and I. 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. Some were brought back by service personnel returning from the Vietnam War. Silver Dollar Specimens There are 15 known specimens of the 1804 Silver Dollar in circulation. A complete historical record is provided in Dave Bowers' book The Rare Silver Dollars Dated 1804 … 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. In the early days of the Mint, dies were saved and reused as an economic measure. 15 are known. (2) A list of the most valuable silver coins by denomination. [85][86] In 2012, Professional Coin Grading Service founder David Hall stated that counterfeit 1804 dollars had been available in Hong Kong for decades.[87]. [4] The act went on to state that the coin would be struck in an alloy consisting of 89.2 percent silver and 10.8 percent copper. [28] He delivered the next set to King Rama III of Siam the following year, on April 6. 1804 Second Reverse, Class II – Unique. [84], More modern replicas, known as "Saigon copies", were commonly offered as original at low prices to American soldiers during the Vietnam War. [66], From the time numismatists became aware of 1804 dollars, they have commanded high prices, both in relation to their face value and the numismatic value of other silver dollars. The 15 known 1804 silver dollars include eight examples of Class I, one of Class II, and six of Class III. Though dated 1804, none were struck in that year; all were minted in the 1830s or later. [77] Nineteenth-century stage actor John T. Raymond purchased a specimen of the coin, which was later revealed to be a forgery, for $300. [34] In total, eight specimens of this type are known today. There exist eight Class I 1804 dollars (“originals”), one Class II 1804 Dollar, and six Class III 1804 dollars (“restrikes”). Chapman. Many American numismatic pieces, patterns and regular issues, are rarer than the 1804 silver dollar, with its population of 15 known specimens. There are also a few varieties of these coins and only around 20 of them … Rama III, the King of Siam, received the second set of coins distributed by Roberts. But what makes these 1804 dollars so special? [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. Numismatists first became aware of the 1804 dollar in 1842, when an illustration of one example appeared in a publication authored by two Mint employees. [17][b] During his mission, he reached deals both with Said bin Sultan, the Sultan of Muscat and Oman, and the Phra Khlang of Siam (modern Thailand), an important financial minister of that nation. They were sometimes modified to include the current date, but that practice was not universally applied. Unless you go to the Smithsonian in Washington D.C. … [53] Numismatic historian Q. David Bowers asserts that the 1804 dollar has attracted more attention than any other coin. [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. Woodward described the 1804 dollar as "the king of coins", a moniker which it maintains today. [79][80], In addition to altered dates, electrotypes of the 1804 dollar were created, both for the purposes of study and fraud. The bulk of the mintage was variously rumored to have been paid to Barbary pirates as ransom, lost at sea en route to China, and melted before leaving the Philadelphia Mint. 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