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A King Is Born: The History Of The 1804 Draped Bust Dollar

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CCFPress's Avatar
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 Posted 07/16/2020  8:33 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message Number of Subscribers
PCGS - Some numismatic rarities transcend the invisible borders of our hobby, possessing the power to excite even non-collectors. Counted among these rare treasures are the 1909-S VDB and 1955 Doubled Die Lincoln Cents, 1913 Liberty Head Nickel, 1894-S Barber dime, and 1933 Saint-Gaudens Double Eagle. Then there is the one that reigns supreme as "The King of American Coins." This coin is none other than the 1804 Draped Bust Dollar.

A-King-Is-Born:-The-History-Of-The-1804-Draped-Bust-Dollar

A King is Born

The 1804 Dollar stands in a category all its own. Rising into prominence during the infancy of American numismatics, the 1804 Dollar became a famous collectible even before many others were but a glint in the eyes of the United States Mint. Predating the birth of many other more modern U.S. rarities, the 1804 Dollar and its story originates not in 1804 as the rarity's familiar date may suggest but rather some 30 years later, in 1834. It was conceived as a goodwill gesture to be coined alongside several other pieces that would be presented to world dignitaries, in special proof sets, as diplomatic gifts. The idea for the 1804 Draped Bust Dollar traces back to President Andrew Jackson, who ordered the special sets be assembled and given to certain heads of state with whom the United States wished to arrange trade deals and forge other geopolitical alliances.

Secretary of State John Forsyth sent a letter to Director of the United States Mint Samuel Moore on November 11, 1834 stating, "The president 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. 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." The letter went on to request the proof sets be assembled in attractive wood boxes covered with morocco (a type of leather) and colored yellow or crimson.

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sel_69l's Avatar
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 Posted 07/16/2020  9:07 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I have a fake 1804. It is the only way I will ever get one.
It resides in my 'black' collection.
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MrPink2018's Avatar
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 Posted 07/16/2020  10:27 pm  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply
interesting read, thanks for posting.
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Conder101's Avatar
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 Posted 07/17/2020  7:59 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Interesting read, but I find a few things questionable.


Quote:
However, the State Department did carry out further directives concerning the number of proof sets to be assembled. Six more sets were created beyond the two for the King of Siam and Sultan of Muscat.

This is news to me. I have never before this seen or heard of ANY reference to four more sets being made up beyond the four sets for Siam, Oman, Japan and Cochin-China. Yes 8 dollars were struck but I have never heard of anything but the four sets. I always supposed the extra coins were made so the four best could be selected for the presentation sets.


Quote:
At least four restrikes were produced without authorization sometime in 1858 and sold by a U.S. Mint employee for $75 apiece. The coins, bearing a plain edge and slightly different reverse than the lettered-edge originals, were traced to four collectors who surrendered them.

Plain edged restrikes were made and were reportedly being offered for $75 ( and the same source was said to be offering rae date coins and pattern coins in roll quantities) but I'm not aware of any records of how many were actually made or recovered, nor any records of who the collectors were who had them. Contemporary stories at the time had at least one of the plain edged coins being sent out of the country before the Mint attempted to round them up. That coin, if it exists, has never been seen again.


Quote:
Three of these pieces were subsequently melted

Were they?


Quote:
By 1859 more restrikes appeared, though these were produced on regular dollar planchets and carry the standard lettered edges as seen on the original 1804 Draped Bust Dollars. It's unknown how many were made, but six are accounted for today and are categorized as Class III 1804 Draped Bust Dollars.

These coins come from the same die pair as the one known Class II coin. The lettered edge on the Class III coins was applied AFTER the coins were struck. I think it may be possible that the Class III's may actually be the recovered Plain edge coins which were then edge lettered and sold off by the top Philadelphia mint officials for their own gain. The provenance of ALL of the Class III coins except one (Mint Director Linderman's coin) trace back to Linderman's friends, and coin dealers, Idler and Haseltine. (Those two also seem to have a never ending supply of "special" coins and patterns that most likely could only have come from an inside source at the Mint.)
Edited by Conder101
07/17/2020 8:04 pm
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captaincoffee's Avatar
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 Posted 07/18/2020  09:03 am  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
Rare for sure, but I doubt 99% of non-collectors even know this coin exists.
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fortcollins's Avatar
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 Posted 07/18/2020  2:21 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
The King of Siam Proof Set sold in 2005 for $8.5 million. This included a PR-67 Class I 1804 Dollar and PR-64 CAM 1804 Eagle.
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