On a cold March morning in 1801, Thomas Jefferson took his oath of office as the third President of the United States. That same year, in the basement of a modest Philadelphia building, workers at the young U.S. Mint produced what would become one of America’s most coveted early silver coins. With only 34,640 pieces struck and far fewer surviving to the present day, the 1801 Draped Bust dime represents more than just currency—it’s a tangible connection to America’s formative years, when the nation’s economy was taking shape and its coinage was still finding its identity.
Specifications
The 1801 Draped Bust dime features technical specifications that reveal much about early American minting capabilities and standards:
Weight: 2.70 grams (tolerance of ±0.10 grams) Composition: 89.24% silver, 10.76% copper Diameter: 18.8 mm Edge: Reeded with approximately 75 reeds Designer: Robert Scot (Chief Engraver) Thickness: 1.2 mm
The silver-copper alloy of these early dimes requires special handling considerations. The coin’s relatively high silver content makes it susceptible to toning over time, with exposure to sulfur compounds in the air creating characteristic blue-gray to amber patination. Unlike modern clad coinage, these early silver pieces react to oils from skin contact, so handling should always be done by the edges or with cotton gloves to prevent fingerprint etching into the soft silver surface.
Mintage & Mint Marks
In 1801, all United States coinage was produced exclusively at the Philadelphia Mint, the only operating U.S. mint at that time. No mint marks were used on coins from this facility until later years.
Total Production: 34,640 pieces (According to U.S. Mint records as cited by PCGS)
This mintage figure is significantly lower than modern coin productions, which often reach into the hundreds of millions. For perspective, this entire year’s production of dimes would fit comfortably in a single cloth bank bag. The relatively tiny mintage, combined with circulation loss and metal reclamation during the silver melts of the 1800s, has resulted in extraordinary scarcity today.
Historical records suggest that the 1801 dimes were struck in a single production run, likely over a period of just a few days. This was common practice at the time, as the Mint would produce denominations in batches rather than continuous production throughout the year.
Grading Standards & Diagnostic Traits
The 1801 Draped Bust dime presents unique grading challenges due to its age and production methods. Understanding these diagnostic traits helps collectors accurately assess condition:
Good (G-4 to G-6): Heavy wear with only major design elements visible. Liberty’s profile outline remains, but facial features are nearly flat. Reverse wreath shows as an outline with limited detail. Lettering is readable but heavily worn.
Very Good (VG-8 to VG-10): Moderate to heavy wear. Liberty’s profile is clear with some facial detail beginning to show. Hair curls are visible but flat. Wreath details show some separation of leaves. Rims are complete but may show some weakness.
Fine (F-12 to F-15): Moderate wear on high points. Liberty’s face shows basic contours, and some separation in hair curls is visible. Wreath shows more detail with individual leaves distinguishable. All lettering is clear and bold.
Very Fine (VF-20 to VF-35): Light to moderate wear on high points. Liberty’s hair shows distinct strands and separation in the curls above the forehead and at the back of the head. Facial features show good definition. Wreath details are sharp with clear leaf structure.
Extremely Fine (EF-40 to EF-45): Light wear on highest points only. Hair strands show clear separation throughout, with only slight flattening on highest curls. Drapery lines on bust show clear definition. Wreath details are sharp with full leaf veining beginning to show.
About Uncirculated (AU-50 to AU-58): Very slight wear or friction on highest points. More than 95% of original luster remains. Hair details complete with only microscopic wear on highest curls. Check Liberty’s cheek and the highest leaves in the wreath for traces of friction that distinguish AU from Mint State.
Mint State (MS-60 to MS-65+): No wear, though contact marks and striking characteristics affect the grade. Full mint luster present, though the quality of luster varies considerably. At MS-63 and above, expect fewer than five noticeable contact marks on Liberty’s face or in the central field areas.
A diagnostic trait specific to the 1801 dime: many examples show a die crack running through the first “1” in the date. This is not considered damage but a minting characteristic.
Value by Grade
The 1801 Draped Bust dime commands premium prices even in lower grades, reflecting its historical significance and extreme scarcity:
| Grade | PCGS Value (2025) | Recent Heritage Auction Results |
| G-4 | $2,000-2,500 | $2,350 (Jan 2025) |
| VG-8 | $3,000-3,800 | $3,450 (Dec 2024) |
| F-12 | $5,000-6,000 | $5,750 (Oct 2024) |
| VF-20 | $8,500-10,000 | $9,600 (Sep 2024) |
| VF-30 | $12,000-14,000 | $13,800 (Nov 2024) |
| EF-40 | $20,000-22,000 | $21,850 (May 2024) |
| AU-50 | $35,000-40,000 | $37,500 (Apr 2024) |
| AU-58 | $55,000-65,000 | No recent sales |
| MS-60 | $90,000-100,000 | $95,000 (Oct 2024) |
| MS-63 | $150,000-175,000 | $168,000 (Jul 2024) |
| MS-65 | $350,000+ | $367,000 (Jan 2024) |
A standout auction result was recorded in January 2023, when a PCGS MS-66 example (one of only two known in this exceptional grade) sold for $456,000 at Heritage Auctions’ FUN Sale.
Values have shown steady appreciation over the past decade, with high-grade examples (EF-40 and above) appreciating at an average rate of 8-10% annually, outpacing many other numismatic investments.
Varieties & Errors
The 1801 Draped Bust dime exists in several noteworthy varieties that command premium prices:
JR-1 (Judd-Reiley-1): The standard variety, with normal placement of date and stars. Identifiable by a small die crack through the first “1” in the date, present on virtually all examples.
JR-2: Features noticeably closer spacing between “18” in the date. Look for the distinctive positioning of star 1, which is closer to Liberty’s hair curl than on JR-1. This variety is approximately 30% scarcer than JR-1.
JR-3: The rarest variety, with an estimated 25-30 examples known across all grades. Diagnostic feature is a repunched “1” in the date, with remnants of the first punch visible below the final digit. In VF-20 condition, this variety commands a 40-50% premium over the standard JR-1.
JR-4: Recently discovered in 2016 and confirmed by PCGS, this extremely rare die pairing shows distinctive reverse die breaks through “UNITED.” Only 5-6 examples have been confirmed, making it the rarest of all 1801 dime varieties.
Error coins from this era are exceedingly rare due to careful quality control at the early Mint. A few known examples include:
Off-center strikes: Very rarely seen, with fewer than 10 known examples showing 5-10% off-center striking. Values for these error coins can reach 3-4 times the value of properly struck examples in similar grade.
Clipped planchets: A handful of examples show crescent-shaped clips where the planchet cutting process encroached on an adjacent blank. These typically command 50-100% premiums over normal examples.
Authentication & Counterfeit Detection
Given the high value of 1801 Draped Bust dimes, counterfeits have appeared in the market. Here are key authentication points:
Weight testing: Genuine coins should weigh 2.70 grams ±0.10 grams. Many counterfeits show incorrect weight due to improper silver content.
Edge examination: The reeded edge should show approximately 75 reeds with consistent spacing. Counterfeits often display irregular reed patterns or incorrect reed counts (typically fewer than 70 or more than 80).
Die characteristics: All genuine 1801 dimes show specific die markers:
- A small die flaw near Liberty’s chin
- Slight weakness in the eagle’s right wing (viewer’s left)
- Specific star positioning with star 1 pointing directly to Liberty’s lowest curl
Metal composition: Period-correct silver will show distinctive toning patterns. Modern silver used in counterfeits typically tones differently, showing more gray-black coloration rather than the blue-amber tones of period silver.
Cast counterfeits: These show tell-tale grainy surfaces under magnification. Look for tiny pinprick depressions that result from air bubbles in the casting process.
“Too perfect” warning signs: Early hand-struck coins show characteristic striking irregularities. Examples with perfectly centered strikes and unusually sharp details should be approached with skepticism.
Professional certification is strongly recommended for all 1801 dimes, regardless of condition. Both PCGS and NGC employ specialized early American coinage experts who can authenticate these rare pieces.
Preservation Tips
Proper preservation of your 1801 Draped Bust dime requires special consideration due to its age and composition:
For raw (uncertified) specimens, consider these guidelines:
Store in a sulfur-free environment using holders specifically designed for early silver. Avoid PVC-containing plastic flips or albums, which can cause damaging chemical reactions with silver over time. Intercept Shield or Kointain holders provide excellent protection against environmental contaminants.
Temperature stability is crucial—avoid areas with frequent temperature fluctuations that can accelerate deterioration. Ideal storage temperature is 65-72°F with relative humidity between 40-50%.
Never clean or dip these coins. Even light cleaning can remove the natural patina that collectors prize and that actually protects the coin’s surface. A cleaned 1801 dime can lose 30-50% of its market value instantly.
For certified coins, maintain the integrity of the holder by storing PCGS or NGC slabs in specialized album boxes that prevent scratching of the plastic surfaces. Though the coins themselves are protected, damaged holders may require resubmission and regrading.
Handling protocol: If examination outside the holder is necessary, use cotton gloves and hold only by the edges. Place on a soft padded surface like a velvet pad rather than hard surfaces that might cause contact marks.
Notable Auction Results
Tracking significant sales helps collectors understand market trends for these rare coins:
Heritage Auctions, January 2024: PCGS MS-65 example sold for $367,000, establishing a new price point for gem-quality specimens.
Stack’s Bowers, August 2024: PCGS AU-55 example with original toning realized $49,350, showing strong demand for high-end About Uncirculated examples.
Heritage Auctions, January 2023: The finest known example, graded PCGS MS-66, sold for $456,000, setting the current auction record for the date.
Heritage Auctions, October 2024: A PCGS VF-35 example with exceptional eye appeal realized $14,100, demonstrating that quality specimens in mid-grade condition continue to command strong premiums.
Stack’s Bowers, March 2023: JR-3 variety in PCGS VF-20 realized $15,600, showing the substantial premium commanded by this scarce die pairing.
eBay Private Sale, September 2024: An authenticated but damaged (holed and plugged) example in G-4 condition sold for $1,250, illustrating that even problem coins find ready buyers due to the date’s rarity.
Collector Value & Outlook
The 1801 Draped Bust dime stands as a cornerstone acquisition for serious early American coinage specialists, with several factors supporting its long-term numismatic value:
Historical significance: As coinage from the first decade of U.S. Mint operations, these pieces represent America’s earliest monetary experiments and connect directly to the founding era.
Extreme scarcity: With a survival rate estimated at fewer than 400-500 examples across all grades, supply cannot expand to meet collector demand. PCGS and NGC population reports show fewer than 250 examples certified between both services, with many of these representing resubmissions of the same coins.
Demographic drivers: The collector base for early American silver has grown substantially as wealth transfer to baby boomers has increased disposable income directed toward legacy collectibles. This demographic trend is expected to continue for another decade.
Investment performance: Over the past 20 years, the 1801 dime has shown average annual appreciation of 7-9% in grades F-12 through AU-50, outperforming many mainstream investments. While past performance doesn’t guarantee future results, the finite supply creates natural price support.
Market dynamics: Unlike modern coins, which can experience market saturation, early American issues like the 1801 dime retain their appeal across collecting generations. The transition to cherished historical artifact status provides insulation against shifting collecting trends.
For collectors building type sets of early dimes, the 1801 issue represents a more attainable alternative to the extremely rare 1796-1797 issues, while still offering substantial historical significance and investment potential.
Frequently Asked Questions
How can I tell if my 1801 dime is the rare JR-3 variety?
Examine the “1” in 1801 under 10x magnification. The JR-3 variety shows distinct remnants of an earlier punching of the numeral below the final position. This repunching is visible even on well-worn examples, appearing as a small raised area below the base of the “1.”
Why do some 1801 dimes appear darker than others?
Early silver coins develop toning based on storage conditions over their 220+ year history. Coins stored in paper envelopes or cabinets with certain woods develop distinctive amber-gold to blue-purple toning patterns. Unnaturally bright examples have typically been cleaned or dipped, which significantly reduces collector value. Original, undisturbed toning is highly prized by knowledgeable collectors.
Are there any affordable alternatives for collectors who can’t afford an 1801 dime?
Yes. Consider starting with a later Draped Bust dime (1805-1807) which can be found for about 30-40% of the cost of an 1801 in comparable grade. Another option is to acquire an 1801 with problems (cleaned, damaged, or repaired) as a placeholder until a problem-free example becomes affordable.
How does the 1801 dime compare in rarity to other Draped Bust dimes?
The 1801 is the second scarcest date in the Draped Bust dime series (1796-1807), surpassed in rarity only by the 1804, which is considered virtually uncollectible with fewer than 20 confirmed examples. The 1801 is approximately three times rarer than the next scarcest available date, the 1803.
Why is authentication especially important for the 1801 dime?
Beyond the high value that attracts counterfeiters, the 1801 dime has been specifically targeted by sophisticated forgery operations. In the early 2000s, a group of highly deceptive counterfeits entered the market from China, many of which have correct weight and composition. Professional certification by PCGS or NGC provides assurance through their expertise and lifetime guarantee of authenticity.
This guide represents values and information current as of April 2025. The rare coin market is dynamic, and both values and historical understanding may evolve as new research and market activities develop.