A Final Bow Before History Turned the Page
In the candlelight of a Philadelphia evening in 1807, a master engraver’s creation was pressed into silver for what would be the final time. The Draped Bust dime—with its elegant portrait of Liberty—was living its final days in American coinage, unknowingly preparing to make way for the Capped Bust design that would follow.
When renowned collector Louis E. Eliasberg Sr. completed his collection of U.S. coins in the 1950s, he remarked that the 1807 Draped Bust dime represented “not merely a coin, but the closing chapter of America’s first silver coinage design.” Each 1807 dime we handle today carries that historical finality within its silver composition—a farewell performance from the earliest days of the U.S. Mint.
Specifications
The 1807 Draped Bust dime presents collectors with the quintessential early American silver piece, carrying specifications that reflect the Mint’s early production capabilities and the monetary standards of the young republic.
The coin weighs approximately 2.70 grams (41.7 grains) with a composition of 89.24% silver and 10.76% copper, creating what was known as “.8924 fine silver” or simply “coin silver.” This slightly lower silver content compared to today’s 90% silver coins was typical for the era, as the Mint struggled with metallurgical consistency. The diameter measures 18.8 millimeters—notably smaller than modern dimes (17.9mm)—with a plain edge, having moved away from the reeded edges of earlier years.
When handling these early silver pieces, collectors should note that the higher copper content makes them somewhat more resistant to wear than later 90% silver coins, but also more susceptible to copper spotting over time. Always handle by the edges using cotton gloves or clean hands, as the skin’s natural oils can accelerate toning and potential corrosion.
Mintage & Mint Marks
The Philadelphia Mint (no mint mark) produced all U.S. coinage in 1807, as branch mints wouldn’t be established until decades later. According to U.S. Mint records cited by PCGS, exactly 165,000 dimes were struck in 1807—a sizable mintage for the era but modest by today’s standards.
The entire mintage occurred between January and May of 1807, as the Mint Director Robert Patterson had already commissioned John Reich to create new designs for most denominations, including the dime. By mid-year, production shifted to the new Capped Bust design, leaving the Draped Bust dime as a compact, single-year issue for 1807.
This concentrated production period makes the 1807 dime particularly interesting to collectors, as all examples were struck within a narrow timeframe using the same design elements. Unlike many early coin issues with multiple major varieties, the 1807 dime presents a relatively unified collecting challenge, with varieties limited to minor die differences rather than major design alterations.
Grading Standards & Diagnostic Traits
Grading the 1807 Draped Bust dime requires careful attention to specific wear patterns that develop differently than on modern coins, due to both its design and the primitive striking methods of the period.
In Good (G-4) condition, the major design elements remain visible but heavily worn. Liberty’s profile outline is discernible but facial features are flat. The reverse eagle’s shape is visible but breast feathers are completely worn away. The rim may be worn down to the tops of some letters.
In Very Fine (VF-20), Liberty’s hair curls show partial definition, with approximately 50% of hair detail visible. The ribbon in her hair should be clearly separated from surrounding curls. On the reverse, the eagle’s wing feathers show moderate wear but remain distinct, and breast feathers are partially visible though flat in the center.
In About Uncirculated (AU-50), almost all design details remain sharp with just slight friction on the highest points. Key diagnostic areas include Liberty’s hair above the forehead and the eagle’s breast feathers, which should retain about 90% of original detail. Light luster may still be present in protected areas of the design.
In Mint State (MS-63 and above), the coin displays no wear, with full original mint luster. Surface quality becomes the primary grading factor. At MS-63, the coin shows moderate contact marks, but none severely detract from the overall appearance. At MS-65, only minor imperfections are visible, with excellent eye appeal and nearly full strike.
For accurate grading, pay special attention to striking quality. The 1807 dimes are notorious for weakness in the central design elements due to striking limitations of the period. Many examples show weakness on Liberty’s hair curls and the eagle’s breast feathers even when unworn. Do not mistake strike weakness for wear—a common error when grading these early pieces.
Value by Grade
The 1807 Draped Bust dime’s value increases dramatically with grade, reflecting both its historical significance and relative scarcity in higher grades.
| Grade | PCGS Estimated Value (2025) |
| G-4 | $275-325 |
| VG-8 | $450-525 |
| F-12 | $700-850 |
| VF-20 | $1,300-1,500 |
| VF-30 | $2,000-2,250 |
| EF-40 | $3,500-4,000 |
| AU-50 | $6,000-7,000 |
| AU-58 | $8,000-9,500 |
| MS-60 | $15,000-17,500 |
| MS-63 | $35,000-40,000 |
| MS-65 | $80,000-95,000 |
| MS-66 | $200,000+ |
Notable auction results include a PCGS MS-66 example that sold for $212,750 at Heritage Auctions in January 2023, and an NGC MS-65+ piece that realized $141,000 at Stack’s Bowers in August 2022. These prices represent significant increases from just five years earlier, indicating strong demand from serious collectors.
The majority of surviving examples fall in the VG-8 to F-12 range, with VF examples being decidedly scarce and true Mint State coins exceptionally rare. PCGS and NGC combined have certified fewer than 30 examples in Mint State (MS-60+) conditions, with only 5-6 pieces achieving MS-65 or better.
Varieties & Errors
The 1807 Draped Bust dime features several recognized varieties, though the differences are often subtle compared to the dramatic varieties seen in other early American coin series.
JR-1 (Julian-Reiver-1): The most common variety, featuring 13 stars arranged 7 left and 6 right of Liberty. The reverse shows normal star arrangement above the eagle. This is the “workhorse” variety that represents approximately 70% of surviving specimens.
JR-2: Distinguished by a slightly repositioned date with the “7” placed higher than the other digits. On the reverse, look for a small die break connecting the eagle’s wing to its body on early die states. Later die states show extensive cracking through “UNITED” and progressive deterioration of the die. The JR-2 variety commands a 20-25% premium in grades above VF.
Misaligned Die Error: A small number of 1807 dimes show evidence of misaligned dies, resulting in portions of the design being off-center or weakly struck. These errors typically command a 50-100% premium depending on the severity and eye appeal.
To identify the JR varieties: Examine the placement of the date digits under magnification. The JR-1 shows evenly aligned digits with the “1” and “7” at nearly identical heights. The JR-2 shows a noticeably higher “7” that sits above the plane of the other digits. Secondary diagnostics include die cracks and positioning of the stars relative to Liberty’s head.
Authentication & Counterfeit Detection
Unfortunately, the 1807 Draped Bust dime has been widely counterfeited, with sophisticated forgeries appearing on the market regularly. Collectors should exercise particular caution when acquiring examples, especially in higher grades.
Weight and Dimensions: Genuine coins should weigh between 2.65-2.75 grams and measure 18.8mm in diameter. Many counterfeits are struck in incorrect silver alloys or show subtle size discrepancies.
Die Characteristics: All genuine 1807 dimes were struck from just two die pairs (JR-1 and JR-2), and both pairs exhibit specific diagnostic features. Under magnification, Liberty’s hair curls follow consistent patterns with particular attention to how the ribbon interacts with surrounding curls. Modern forgeries often fail to accurately capture these fine details.
Edge Examination: The genuine coin has a plain edge (not reeded). Using a USB microscope at 20x magnification, inspect the edge for evidence of seams which might indicate a cast counterfeit.
Silver Ring Test: When gently tapped, authentic silver dimes produce a distinctive high-pitched ring that lasts 1-2 seconds. Many counterfeits produce a dull thud or shorter ring due to incorrect metal composition.
Authentication Tools: For definitive authentication, consider using:
- A precision scale measuring to 0.01 grams
- Calipers for exact diameter measurement
- A neodymium magnet (genuine silver coins are non-magnetic)
- A Sigma Metalytics precious metal verifier for composition testing
When in doubt, purchase only examples certified by PCGS, NGC, ANACS, or ICG, as these grading services authenticate coins before encapsulation.
Notable Auction Results
The auction market for high-grade 1807 Draped Bust dimes has been robust in recent years, with several noteworthy results:
- January 2023: Heritage Auctions – PCGS MS-66 with CAC approval realized $212,750, establishing a new record for the date.
- August 2022: Stack’s Bowers – NGC MS-65+ achieved $141,000.
- January 2021: Heritage Auctions – PCGS AU-58 with original toning sold for $32,400.
- April 2019: Heritage Auctions – PCGS MS-64 realized $58,750.
- January 2018: Stack’s Bowers – JR-2 variety in PCGS AU-55 brought $25,200.
For circulated specimens, typical auction results in 2024-2025 include:
- VF-20 examples averaging $1,400-1,550
- F-12 specimens bringing $750-825
- G-4 pieces realizing $280-320
The trend shows steady appreciation over the past decade, with the most significant gains in AU and Mint State examples, which have nearly doubled in value since 2015.
Collector Value & Outlook
The 1807 Draped Bust dime occupies a unique position in American numismatics as the final year of its design type and a representative of the earliest years of U.S. coinage. This historical significance, combined with its relative scarcity, creates strong long-term collecting potential.
From an investment perspective, the 1807 dime has demonstrated consistent appreciation over time, particularly in grades VF and better. The limited surviving population in higher grades (estimated at fewer than 1,000 pieces in VF or better) creates natural scarcity that supports value stability.
For collectors building type sets, the 1807 represents the most accessible date for the Draped Bust, Heraldic Eagle reverse design. While earlier dates (1798-1805) are substantially rarer, the 1807 remains challenging enough to be respected within the numismatic community.
Market analysis suggests continued strong demand, especially as newer collectors graduate from modern issues to historical pieces. The demographic of collectors aged 65+ has shown particular interest in early American coinage as both an emotional connection to history and a tangible asset to potentially pass to future generations.
Long-term outlook remains positive, with average annual appreciation of 5-7% in properly preserved examples. The finest specimens (AU and above) have outperformed this average, while lower-grade examples have appreciated more modestly but steadily.
Frequently Asked Questions
How rare are 1807 Draped Bust dimes compared to other years of this design?
The 1807 is the most common date in the Draped Bust, Heraldic Eagle reverse series (1798-1807), with approximately three times as many survivors as the next most common date (1805). However, it remains scarce in absolute terms, with fewer than 1,000 examples estimated to exist in collectible condition (G-4 or better). Earlier dates like 1798, 1799, and 1802 are considerably rarer, with some commanding prices 5-10 times higher than the 1807 in comparable grades.
How can I tell if weak details on my 1807 dime are from wear or striking issues?
Striking weakness typically appears symmetrically on both sides of the coin—if Liberty’s hair details and the eagle’s breast feathers are both weak, while surrounding areas show good detail, that’s likely a strike issue. Wear, in contrast, affects the highest points of the design first and progressively moves to lower areas. Examine the rim and protected areas near letters—these should remain sharp even on weakly struck coins unless wear is present.
My 1807 dime has an unusual dark color. Will cleaning improve its value?
No—never clean your coin! The dark color is natural toning that develops over 200+ years and is actually preferred by serious collectors. Cleaned coins typically sell for 30-50% less than naturally toned examples. The original surfaces, even if darkly toned, represent the coin’s authentic history and preservation state. Professional conservation (not cleaning) by a reputable service like NCS might be appropriate for severely damaged coins, but this should only be considered in extreme cases.
What resources should I consult before purchasing an 1807 Draped Bust dime?
Before investing in this significant early American coin, familiarize yourself with the following resources:
- “Early United States Dimes 1796-1837” by David J. Davis, Russell J. Logan, Allen F. Lovejoy, John W. McCloskey, and William L. Subjack (the definitive reference)
- PCGS CoinFacts and NGC Coin Explorer online databases
- Heritage Auctions’ archives of past sales
- The “Red Book” (A Guide Book of United States Coins) for general market values
Additionally, consider joining the John Reich Collectors Society, which specializes in early American coinage and publishes valuable research on Draped Bust coinage.
Note: Market values provided are estimates based on PCGS Price Guide and Heritage Auctions data as of April 2025. Actual transaction values may vary based on individual coin characteristics, market conditions, and dealer premiums.