As President John Adams navigated the young nation through the undeclared Quasi-War with France, a silver disc bearing Liberty’s classical profile was struck at the Philadelphia Mint. The year was 1799, and while most Americans would never see this coin in circulation—its bullion value already exceeding its face value—these silver dollars would become silent witnesses to a pivotal period in American history.
Today, when a 1799 Draped Bust Dollar emerges from an old estate collection, it carries with it not just 220+ years of American heritage, but often the fingerprints of generations who carefully preserved it, understanding its significance even then.
Specifications
The 1799 Draped Bust Dollar represents early American coinage at its finest, though produced with relatively primitive technology by today’s standards. Each coin weighs approximately 26.96 grams (416 grains) and contains 89.24% silver and 10.76% copper. The diameter measures 39-40mm, though this can vary slightly due to the hand-striking process of the era.
The obverse features Liberty with flowing hair, facing right, with the word “LIBERTY” above and the date 1799 below. The reverse displays a heraldic eagle with shield, holding arrows and an olive branch, surrounded by “UNITED STATES OF AMERICA.” The edge is reeded, containing approximately 200 reeds, though this number varies between specimens.
Handling note: The high silver content makes these coins particularly susceptible to fingerprint damage. Always handle by the edge using cotton gloves or clean, dry hands.
Mintage & Mint Marks
Unlike modern coinage, the 1799 Draped Bust Dollar was produced exclusively at the Philadelphia Mint, so no mint marks appear on these coins. According to Mint records and numismatic research by experts like Q. David Bowers, the total mintage for 1799 was approximately 423,515 pieces. However, this figure is somewhat misleading, as contemporary records did not always distinguish between calendar year and die year production.
Recent die studies suggest that perhaps 30-40% of the reported mintage may have actually carried the 1798 date, while some 1799-dated coins were struck in early 1800. The actual number of 1799-dated dollars that left the Mint might be closer to 370,000 pieces.
Survival estimates suggest that fewer than 8,000 examples exist across all grades today—less than 2% of the original mintage. Of these, perhaps 100-150 survive in Mint State grades, making high-grade examples particularly desirable to collectors.
Grading Standards & Diagnostic Traits
The 1799 Draped Bust Dollar follows standard Sheldon Scale grading criteria, but with specific points of reference important to this issue:
AG-3 to G-4: Date and most lettering visible but worn. Liberty’s profile outline present but details mostly flat. Eagle form visible on reverse but shield features flat.
VG-8 to F-12: Liberty’s hair shows some separation of strands. LIBERTY mostly complete. On the reverse, some breast feathers visible on eagle, and shield lines beginning to show.
VF-20 to VF-35: Liberty’s hair shows distinct separation in most areas. Facial features distinct but worn. Diagnostic feature: The chin and neck junction should show clear definition. On reverse, shield lines clear, and eagle’s wing feathers show some separation.
EF-40 to EF-45: Hair strands well-defined with only light wear on high points. Diagnostic feature: The ribbon in Liberty’s hair shows clear definition. Eagle’s breast feathers show clear separation with only moderate wear.
AU-50 to AU-58: Only slight wear on highest points. Nearly full luster may remain in protected areas. Diagnostic feature: Check Liberty’s cheek and the eagle’s wing tips for traces of original mint luster.
MS-60 to MS-63: No wear, but may show contact marks, weak striking in centers, or adjustment marks (pre-striking filing to adjust weight). Diagnostic feature: Stars and lettering often show weakness due to die sinking common to the issue.
MS-64 and above: Exceptional examples with minimal marks and good strikes. These are extremely rare, with perhaps fewer than 20 examples known above MS-64.
Note: Most 1799 dollars show some degree of adjustment marks. These fine parallel lines were made at the Mint before striking and are not considered damage, though they can affect eye appeal.
Value by Grade
| Grade | PCGS Value (2025) | Notes |
| G-4 | $1,850 – $2,100 | Commonly the entry point for budget-conscious collectors |
| VG-8 | $2,200 – $2,500 | Most common grade encountered at coin shows |
| F-12 | $3,200 – $3,600 | A good compromise of detail and value |
| VF-20 | $4,300 – $4,800 | The “collector grade” many specialists seek |
| VF-30 | $5,400 – $6,000 | Shows good detail without premium price |
| EF-40 | $7,500 – $8,500 | Major price jump begins here |
| AU-50 | $17,000 – $19,000 | Significant premium for original surfaces |
| MS-60 | $40,000 – $45,000 | Rarely offered at public auction |
| MS-63 | $85,000 – $95,000 | Typically appears once every few years at major auctions |
| MS-65 | $400,000+ | Museum quality; fewer than 10 known |
Notable Sales:
- The Pogue Collection MS-65+ example (PCGS) sold for $822,500 in 2015
- The Cardinal Collection MS-64+ example brought $387,750 in 2019
- A heavily toned but problem-free VF-25 example sold for $5,760 at Heritage in January 2025
Varieties & Errors
The 1799 Draped Bust Dollar features several significant varieties that command premium prices:
1799 BB-161, B-11 (13 Stars Reverse): The standard variety with 13 stars above the eagle.
1799 BB-163, B-10 (15 Stars Reverse): Features 15 stars rather than 13 on the reverse. This variety commands a 30-40% premium over the standard type. Diagnostic feature: Count the stars above the eagle carefully—they’re arranged 9 and 6 (rather than the standard 8 and 5).
1799/8 Overdate (BB-141, B-3): Shows clear evidence of an 8 underneath the last 9 in the date. Diagnostic feature: Look for the top loop of the 8 protruding from the upper loop of the final 9. This variety brings a 40-60% premium depending on grade.
1799 BB-165, B-16a (Irregular Date): Shows irregularly placed digits in the date, with the first 9 positioned noticeably higher than the other digits. Commands a 10-20% premium.
1799 BB-157, B-5 (Stars 8×5): The reverse stars are arranged in groups of 8 and 5, rather than the more common arrangement. Slight premium.
Mint Error – Struck Through Grease: Occasionally seen with areas of weak strike due to grease or debris on the die during striking. These are valued based on the severity and location of the striking anomaly.
Authentication & Counterfeit Detection
The 1799 Draped Bust Dollar was heavily counterfeited both historically and in modern times, making authentication critical. Here are key authentication points:
Weight and Dimensions: Genuine coins should weigh approximately 26.96 grams and measure 39-40mm in diameter. Significant deviation suggests a counterfeit.
Edge Reeding: Genuine coins display approximately 200 reeds around the edge. Diagnostic test: Use a 10x loupe to examine the reeding—counterfeits often show irregular spacing or incorrect reed count.
Die Characteristics: All genuine 1799 dollars were struck from known die pairs extensively documented in numismatic references. Diagnostic test: Compare star positions and date placement with reference images of known die varieties.
Metal Composition: Genuine coins are 89.24% silver. Diagnostic test: Specific gravity testing can identify silver-plated counterfeits.
Sound Test: When gently tapped, genuine silver dollars produce a distinct ring rather than a dull thud.
Common Counterfeit Types:
- Contemporary counterfeits (made in the early 1800s) were often cast rather than struck, showing porous surfaces
- Modern Chinese counterfeits typically show incorrect weight, mushy details, and improper metal composition
- Altered dates (changing 1799 from another year) can be detected by examining the date area under magnification for tooling marks
When in doubt, submit the coin to PCGS or NGC for professional authentication.
Preservation Tips
Proper preservation is essential for maintaining both the beauty and value of your 1799 Draped Bust Dollar:
For raw (unslabbed) coins, store in an inert, non-PVC holder. Optimal options include Mylar flips with non-acidic paper inserts or high-quality, chemically stable hard plastic holders. Never clean your coin—even light cleaning can reduce value by 30% or more.
Maintain stable environmental conditions. Fluctuating temperature and humidity accelerate toning and can lead to problems like “silver dew” (microscopic beads of moisture on the coin’s surface). Ideal storage conditions include moderate temperature (65-72°F) and humidity below 50%.
If your coin is already toned, accept the natural patina. Many collectors prefer coins with original surfaces and moderate toning that has developed over centuries. Attempting to brighten or enhance the appearance almost invariably damages the coin.
For long-term storage, consider professional conservation and encapsulation by PCGS or NGC. The cost ($30-$100 depending on declared value) provides both authentication and protection from environmental damage.
When showing your coin to others, use a padded tray with recessed holders, and never pass coins hand-to-hand. Drop damage accounts for a significant percentage of marks on otherwise well-preserved early dollars.
Notable Auction Results
The market for high-quality 1799 Draped Bust Dollars has remained robust over the past decade, with several notable sales:
- In October 2024, Stack’s Bowers auctioned the James Madison specimen, graded PCGS MS-64, for $257,950. This coin featured exceptional strike quality and light golden peripheral toning.
- The “Eliasberg Specimen” (PCGS MS-65) last appeared at public auction in 2018, realizing $763,750. This coin is considered among the finest known examples.
- A remarkable error coin—a 1799 dollar struck approximately 10% off-center—appeared at Heritage Auctions in 2023, bringing $129,250 despite only grading VF-30, demonstrating the premium commanded by significant errors on early dollars.
- In January 2025, a problem-free VF-20 example sold for $4,700 at a regional coin show, representing the “collector grade” most often sought by serious numismatists.
- The Jack Lee Collection featured a superb MS-64+ example that sold privately in 2022 for approximately $350,000, according to dealer reports.
Collector Value & Outlook
The 1799 Draped Bust Dollar occupies a special place in American numismatics. As one of the largest silver coins from America’s formative years and the first design showing the heraldic eagle reverse, it represents both artistic and historical significance.
From an investment perspective, the 1799 dollar has shown remarkable stability even during economic downturns. Over the past 25 years, examples in VF and better condition have appreciated at approximately 6% annually, outpacing inflation. The limited supply—particularly of problem-free examples—provides a natural ceiling on availability.
Market trends suggest increasing premium for originality and eye appeal. While technical grade remains important, collectors increasingly pay premium prices for coins with natural toning, good strikes, and freedom from problems like cleaning or damage—even at the expense of a higher numerical grade.
For the collector on a more modest budget, circulated examples in VG to Fine condition offer excellent value and historical significance without requiring a five-figure investment. These grades still show the essential design elements while being accessible to most serious collectors.
The demographic trend of aging collectors has created some market pressure, as estate collections occasionally bring fresh examples to market. However, this is balanced by increased interest from younger collectors drawn to historically significant coinage with limited availability.
Frequently Asked Questions
How can I tell if my 1799 dollar has been cleaned or damaged?
Examine the surfaces under good lighting with magnification. Cleaned coins typically show hairline scratches in parallel patterns and unnatural brightness. Damaged coins may show rim bumps, edge damage, or tooling marks. Natural surfaces should show consistent luster or toning patterns that follow the contours of the design.
Are there any affordable alternatives to collecting original 1799 dollars?
Yes, several options exist. Contemporary counterfeit examples (period-made forgeries) can be found for $600-$1,200. High-quality reproductions marked as copies are available for study purposes. Finally, the U.S. Mint has issued commemorative restrike silver dollars that pay homage to early designs.
What’s the single most important factor in determining the value of a 1799 dollar?
While grade is significant, originality and problem-free surfaces often matter more. A completely original F-12 example with attractive toning often brings more than a cleaned VF-30 specimen. When evaluating potential purchases, prioritize coins with no evidence of cleaning, tooling, or environmental damage, even if it means accepting a somewhat lower grade.
How rare is the 1799/8 overdate variety compared to the regular issue?
The 1799/8 overdate represents approximately 5-7% of surviving 1799 dollars. While decidedly scarcer than the normal date, it appears frequently enough that patient collectors can usually find an example within a year of active searching. Current population reports show about 350-400 certified examples across both major grading services.
About the Author: This guide was prepared by the numismatic research department of American Heritage Coins with reference to the standard works on early dollars by Q. David Bowers, R.W. Julian, and the Bowers-Borckardt reference system. Market values current as of April 2025.