A Glimpse Into History: The 1802 Draped Bust Silver Dollar
The 1802 Draped Bust Silver Dollar is part of one of the most iconic series in early American coinage. Minted during the presidency of Thomas Jefferson, it features a striking portrait of Lady Liberty on the obverse and a heraldic eagle on the reverse. This design—originally created by famed artist Gilbert Stuart and modified by Robert Scot—has long captured the imagination of collectors.
These silver dollars were struck using .8924 fine silver, and due to their age and relative scarcity, they’re among the most desirable early American coins. Only around 41,650 were minted in 1802, but far fewer survive today in collectible condition. Many were melted down or lost over the centuries, and finding one with a clear date and strong features is rare. If you own one, you could be sitting on a small fortune.
1802 Silver Dollar Coin Value Breakdown
The value of an 1802 Draped Bust Dollar depends heavily on its condition, variety, and rarity. Here’s a breakdown of what these coins are typically worth today:
| Grade | Estimated Value |
|---|---|
| Good (G-4) | $1,500 – $2,000 |
| Very Fine (VF-20) | $3,000 – $4,500 |
| Extremely Fine (EF-40) | $6,000 – $9,000 |
| About Uncirculated (AU-50) | $10,000 – $15,000 |
| Mint State (MS-60 to MS-65) | $25,000 – $85,000+ |
A Mint State (MS65) example with beautiful toning and minimal contact marks has been known to fetch over $100,000 at major auctions. Most examples fall below the AU grade, making high-end versions especially rare and desirable.
Varieties and Die Marriages
The 1802 dollar exists in several die varieties, identified by subtle differences in the placement and styling of numerals, stars, and lettering. These are often referred to by “Bowers-Borckardt” (BB) numbers. Common varieties include:
- 1802/1 Overdate – Shows a visible “1” beneath the “2” in the date.
- Wide Date vs. Narrow Date – Refers to the spacing between the digits in the date.
- BB-241 to BB-244 – Each variety has slight differences and varying rarity.
Some varieties are more common, while others (especially BB-242 or BB-244) are rare and command a premium. Collectors specializing in die marriages can pay thousands more for rare variants in good condition.
Why Collectors Covet the 1802 Dollar
The 1802 Draped Bust Dollar is a favorite among early American coin collectors for several reasons:
- Historical Significance: Minted just 26 years after the U.S. Declaration of Independence.
- Classic Design: Considered one of the most artistic coin designs of the early U.S. Mint.
- Investment Potential: Steady increase in auction prices over the past decades.
- Low Survival Rate: Fewer coins in higher grades make it a top-tier collectible.
For those building a type set or focusing on the Draped Bust series (1795–1804), the 1802 issue is a must-have.
FAQs
Q1: How can I tell if my 1802 silver dollar is real?
Due to high value, forgeries are common. Always have your coin authenticated by a professional grading service like PCGS or NGC.
Q2: What’s the difference between 1802/1 and regular 1802?
The 1802/1 is an overdate variety where a “1” was mistakenly punched under the “2.” It’s a sought-after variety and usually more valuable.
Q3: Are cleaned coins worth less?
Yes. Cleaning damages the surface and reduces value significantly, even if the coin looks shiny.
Q4: Where should I sell an 1802 silver dollar?
Consider major auction houses (like Heritage or Stack’s Bowers) or reputable coin dealers who specialize in early U.S. coinage.
Conclusion: A Collector’s Gem with Timeless Value
The 1802 Draped Bust Silver Dollar is a tangible piece of American history that continues to captivate collectors and investors alike. With values starting around $1,500 and soaring past $100,000 in pristine grades, this coin represents not only rarity but also enduring beauty and national pride.
If you’re lucky enough to own one, you’re holding more than silver—you’re holding a legacy. Whether you’re new to coin collecting or a seasoned numismatist, the 1802 silver dollar is one of those iconic treasures that never loses its appeal—or its value.