The most valuable silver dollar is the 1804 Silver Dollar with the Draped Bust. As a side note, this coin is not only the most valuable in the silver coin category; it is presently the most valuable in the world. As with any coin, there are a few different reasons for the extreme value of the coin. Taking a closer look at these reasons will help you to understand more about coin collecting in general and what factors a coin can have in order to make it one of the most valuable coins available.
Much of what makes the 1804 silver coin so valuable is the rarity of the coin. Only 15 specimens are known to exist. This is out of the less than 20,000 which were originally produced in 1804 and in 1834. The tale of the coin has a lot to do with the value of the coin as does the beauty of the coin. These are just a few of the factors which make the Draped Bust one of the most valuable coins in American history and one of the coins which stands among the most valued in the world.
Rarity of the Coin
The rarity of the silver coin has a lot to do with the value of the coin itself. This is why a coin which has only 15 left in existence is such a valuable coin While many of the coins ended up residing in Siam and Oman, the rest of the coins live in museums like the Smithsonian Institution and the American Numismatic Association Museum. There are only six coins known to exist in private collections. There have been many fakes, but because of the difficulty of reproducing such a coin, most have been discovered.
The Story of the Coin
The original 1804 silver coin was created in 1804 based on the 1803 die. This was a way for the Mint to be able to save money in order to produce the coins which were needed in circulation. Less than 20,000 of these coins were produced making them few in number to begin with. In 1834 the government reused the die but kept the 1804 date. This was confusing to many people. The coins were then given as gifts to Asian countries to thank them for maintaining trade with the United States. Between 1858 and 1860 there were two versions of the coin which were struck by Theodore Eckfeldt. These comprise the Class II and Class III versions of the coin and were not intended to be distributed. All of the class II coins were seized by a handful of the Class III coins got out to the public.
The Beauty of the Coin
The “>silver coin was created with the intent to look beautiful and its portrayal of lady liberty on the obverse is one of the most striking features. The eagle on the reverse is also quite striking in its use of stars olive branches, arrows and other embellishments.
Photo Credits: Legend Numismatics
Originally posted 2010-08-31 09:14:25. Republished by Blog Post Promoter
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Coin Collecting, Coin Value, Silver Coins, Silver Dollars, US Coins
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