With fewer than 40 known specimens in existence today, the 1802 Draped Bust dime stands as not merely a coin but a whisper from the past—a fragile silver witness to America’s formative years when Jefferson occupied the White House and the Louisiana Purchase would soon double the nation’s size. Each surviving example represents far more than its precious metal content; it embodies the preservation of American financial history at its most vulnerable stage.
Specifications
The 1802 Draped Bust dime exhibits the production characteristics typical of early American coinage, hand-crafted under primitive conditions compared to modern standards. Each dime was struck by hand-operated machinery at the Philadelphia Mint, the only operating U.S. mint at that time.
Weight: 2.70 grams (41.7 grains) Composition: 89.24% silver, 10.76% copper Diameter: 18.8 mm Edge Type: Reeded Designer: Robert Scot, Chief Engraver of the U.S. Mint Obverse: Liberty facing right with flowing hair tied by a ribbon, with “LIBERTY” above and the date 1802 below Reverse: Small heraldic eagle with shield, holding arrows and olive branch, with “UNITED STATES OF AMERICA” surrounding
When handling these delicate specimens, collectors should be especially mindful of the high copper content compared to later silver issues. The alloy’s susceptibility to environmental damage means these coins often developed patina over their two-plus centuries of existence. Given the high silver content, proper storage in sulfur-free environments is essential to prevent toning and corrosion.
Mintage & Mint Marks
The 1802 dime holds the distinction of having one of the lowest mintages in the entire Draped Bust dime series. According to U.S. Mint records, only 10,975 dimes were produced in 1802, all at the Philadelphia Mint. No mint marks appear on these coins, as Philadelphia was the only operating mint at the time.
The extraordinarily low original mintage, combined with the fact that many specimens were melted during the silver price increases of the early 19th century or simply lost to circulation, explains the extreme rarity of this date. Mint records from this era are sometimes incomplete or inaccurate, but numismatic research confirms that the 1802 dime ranks among the rarest regular-issue U.S. silver coins.
According to PCGS and other numismatic authorities, only 35-40 examples are known to exist today in all grades combined, making it significantly rarer than even the famous 1804 dollar.
Grading Standards & Diagnostic Traits
The 1802 Draped Bust dime presents unique challenges for grading due to its rarity and age. Few collectors will ever encounter one, but understanding the grading standards remains essential for proper valuation and authentication.
Good (G-4 to G-6): Heavy wear across all design elements. Liberty’s facial features are flattened with little detail. Hair details are mostly worn smooth, with only major strands visible. On the reverse, the eagle’s feathers are flat with minimal detail. The shield lines may be barely discernible. Lettering is readable but worn thin.
Very Good (VG-8 to VG-10): Liberty’s profile is distinct but lacking detail. Some separation of hair strands should be visible. The word “LIBERTY” shows clear but worn letters. On the reverse, some feather detail appears on the eagle’s wings, though most fine details remain flat. Shield lines are partially visible.
Fine (F-12 to F-15): Liberty’s facial features show definition, with visible eyebrow, nose, and lip details. Hair strands show separation, especially above the forehead. On the reverse, modest feather detail is visible on the eagle’s wings and body. The shield lines are mostly complete.
Very Fine (VF-20 to VF-35): Liberty’s hair shows clear strand separation and some evidence of original curl details. Facial features are well-defined. On the reverse, the eagle’s feathers show clear definition and separation, and shield lines are complete. High points still show wear, but overall detail is strong.
Extremely Fine (EF-40 to EF-45): Only light wear on the highest points. Liberty’s hair curls show nearly complete detail with only slight flattening on the highest portions. The eagle’s feathers show excellent definition with minimal wear on the high points.
About Uncirculated (AU-50 to AU-58): Trace amounts of wear visible only on the highest points of the design. At least 50% of the original mint luster should be present. Liberty’s hair curls retain almost all detail. The eagle’s feathers show full detail with only the slightest friction on the highest points.
Mint State (MS-60 to MS-65): No wear, though quality of strike, luster, and surface marks determine the numeric grade. Given the primitive minting technology of 1802, even the finest known specimens typically show some striking weakness. Perfect centering and absence of adjustment marks are extremely rare on this issue.
It’s worth noting that the highest confirmed grade for an 1802 dime is MS-64, with most surviving specimens in the Fine to Very Fine range.
Value by Grade
The 1802 Draped Bust dime ranks among the most valuable regular-issue U.S. coins, with even heavily worn specimens commanding premium prices. Values listed below reflect recent auction results and PCGS price guide data as of early 2025.
| Grade | PCGS Value | Notes |
| G-4 | $28,000 | Extremely rare in any grade |
| VG-8 | $37,500 | Most examples show heavy circulation wear |
| F-12 | $55,000 | Many surviving specimens fall in this grade range |
| VF-20 | $85,000 | Becoming substantially more desirable in VF |
| VF-30 | $110,000 | Shows good detail while remaining relatively “affordable” |
| EF-40 | $170,000 | Fewer than 10 examples known in EF or better |
| AU-50 | $300,000 | Extremely rare in AU |
| AU-58 | $450,000 | Only 2-3 known in high AU |
| MS-60 | $600,000 | Mint State examples are exceedingly rare |
| MS-63 | $850,000 | Only about 3 known examples at this grade or better |
| MS-64 | $1,250,000+ | Finest known examples |
Note: Actual transaction prices may vary significantly based on eye appeal, toning, provenance, and other factors. Given the extreme rarity, each 1802 dime that appears at auction tends to establish its own market value.
Varieties & Errors
Only one die variety is conclusively documented for the 1802 dime, making it unique among early dimes that typically feature multiple varieties. Designated as JR-1 in the standard reference (Early United States Dimes 1796-1837 by Davis, Logan, Lovejoy, McCloskey, and Subjack), this variety shows specific diagnostic characteristics:
Obverse (JR-1):
- Date is positioned with numerals relatively evenly spaced
- The “2” in 1802 has a noticeably high position
- A diagonal die crack often appears from the rim through the “Y” in “LIBERTY”
Reverse (JR-1):
- 13 stars above the eagle’s head
- Arrows and olive branch in the eagle’s talons
- A distinctive arrangement of clouds above the eagle
Die state variations exist within this single variety, showing progressive deterioration of the dies. Early die states show sharper details, while later states may display increasing evidence of die cracks and weakness.
While restrikes and counterfeits exist (discussed below), no significant mint errors or major die varieties are documented for this date, which is consistent with its extremely low mintage.
Authentication & Counterfeit Detection
Given the extraordinary value of the 1802 dime in any condition, collectors must be extremely cautious about authentication. Several known counterfeits and altered dates have appeared in the marketplace over the decades.
Authentication Keys:
- Weight and Dimensions: The 1802 dime should weigh approximately 2.70 grams and measure 18.8mm in diameter. Significant deviation suggests a counterfeit.
- Edge Reeding: Examine the reeded edge under magnification. Genuine coins show reeding produced by the collar die, with approximately 75-80 reeds. Many counterfeits have incorrect reed counts or poorly executed reeding.
- Date Examination: The date is often the focus of alterations. Most commonly, an 1805 or 1809 dime might be altered to appear as an 1802. Under magnification, look for evidence of tooling around the digits, especially the “2”.
- Die Characteristics: Familiarize yourself with the precise position and appearance of design elements on the JR-1 variety, the only genuine variety.
- Metal Composition: Genuine examples will be struck in .8924 silver. Modern counterfeits may use different silver content or entirely different metals.
- Surface Texture: The genuine coin will display the distinctive surface texture of hand-struck silver from the early 19th century. Modern counterfeits often cannot replicate the correct “flow lines” and metal crystallization patterns.
Red Flags for Counterfeits:
- Incorrect letter positions or font styles
- Improper spacing between date digits
- Weight outside the 2.65-2.75 gram range
- Poor detail in Liberty’s hair or the eagle’s feathers that doesn’t correspond to wear elsewhere
- Evidence of removed mint marks (no authentic 1802 dime has a mint mark)
Given the exceptional value of these coins, professional authentication by PCGS, NGC, or another major grading service is essentially mandatory before any purchase.
Preservation Tips
Preserving an 1802 Draped Bust dime requires special care given its age, composition, and extreme value. Follow these specialized guidelines:
- Handling: Always handle by the edge using clean, cotton gloves or freshly washed hands. The natural oils and acids from skin can cause long-term damage, especially to silver of this age and composition.
- Storage Environment: Maintain consistent temperature and humidity. Fluctuations can accelerate deterioration. Ideal conditions are 65-70°F with 35-40% relative humidity.
- Containment Options:
- For long-term storage, use holders specifically designed for early silver with minimal PVC or other harmful plastics.
- PCGS or NGC slabs provide excellent protection while still allowing viewing.
- For unslabbed specimens, consider inert mylar holders or coin envelopes made specifically for silver.
- Avoid Cleaning: Under no circumstances should an 1802 dime be cleaned, dipped, or treated with any commercial products. Even light cleaning can significantly reduce value. The natural patina that develops over 220+ years is considered part of the coin’s character and history.
- Insurance: Given the exceptional value, specific insurance coverage is recommended, separate from standard homeowner’s policies. Document the coin with high-resolution photographs and professional appraisals.
Notable Auction Results
The extreme rarity of the 1802 dime means that each public sale becomes a notable numismatic event. Here are some of the most significant sales in recent decades:
- January 2013, Heritage Auctions: JR-1, PCGS MS-64, realized $460,000. This example, with exceptional toning and strike quality, represented one of the finest known specimens.
- January 2016, Stack’s Bowers: JR-1, PCGS VF-35, from the D. Brent Pogue Collection, realized $94,000. This example featured attractive original surfaces with light golden toning.
- August 2020, Heritage Auctions: JR-1, NGC F-15, realized $45,600. Even in this modest grade, the coin commanded a strong premium due to its rarity.
- January 2022, Heritage Auctions: JR-1, PCGS AU-55, realized $336,000. This example, with exceptional eye appeal and provenance to the Floyd T. Starr Collection, represented one of the finest examples outside of museum collections.
- April 2024, Stack’s Bowers: JR-1, PCGS VF-25, realized $76,650. The coin showed even wear and attractive medium gray toning.
These results demonstrate the consistent upward trajectory in values, particularly for well-preserved specimens with documented provenance.
Collector Value & Outlook
The 1802 Draped Bust dime occupies a special position in American numismatics, representing what many consider the ultimate prize in early dime collecting. Several factors influence its current and future value:
Historical Significance: As one of the earliest silver coins produced by the United States Mint during the formative years of the republic, the 1802 dime possesses immense historical importance. This was coinage from Thomas Jefferson’s presidency, representing America still finding its footing as an independent nation.
Extreme Rarity: With fewer than 40 known examples across all grades, the 1802 dime is actually rarer than many issues typically considered American numismatic icons. For perspective, it is substantially rarer than the famous 1804 dollar or 1913 Liberty nickel.
Market Trends: Values for the 1802 dime have shown remarkably consistent appreciation over decades. Even during market downturns, extreme rarities like this have maintained their value better than common issues. Over the past 30 years, documented examples have appreciated at an average of 8-10% annually.
Collector Demographics: As wealthy collectors increasingly seek “trophy coins” for significant collections, pressure on ultra-rarities like the 1802 dime continues to grow. The limited supply virtually ensures continued appreciation over time.
Investment Outlook: While numismatic purchases should never be viewed primarily as investments, the historical performance of the 1802 dime suggests continued strong demand. As museums acquire examples for permanent collections, the available supply for private collectors shrinks further.
For most collectors, owning an 1802 dime remains an aspirational goal rather than a realistic acquisition. However, for those with the means to acquire one, it represents one of the most significant accomplishments in American numismatics.
Frequently Asked Questions
Are all 1802 dimes valuable, or only certain varieties? All genuine 1802 dimes are extremely valuable regardless of condition. Unlike some dates where certain varieties command premiums, the 1802 dime has only one confirmed die variety (JR-1). The extreme rarity of the date itself is what drives the high values across all specimens.
How can I tell if an 1802 dime offered to me is genuine?
Given the exceptional value, no 1802 dime should be purchased without certification from a major third-party grading service like PCGS or NGC. The most common counterfeits are altered dates from 1805 or 1809 dimes. Look for signs of manipulation around the date, particularly the “2” digit. Authentic examples will match the die characteristics of the JR-1 variety described earlier.
Why is the 1802 dime so much rarer than its mintage would suggest?
Several factors contribute to its current rarity despite a mintage of 10,975 coins. First, early American coinage often circulated heavily, with many examples eventually worn beyond recognition. Second, rising silver prices in the early 19th century led to widespread melting of silver coins. Finally, poor record-keeping at the early Mint means the actual mintage may have been lower than documented.
How does the 1802 dime compare to other key dates in the Draped Bust series?
The 1802 is considered the rarest date among regularly issued Draped Bust dimes (1796-1807). While the 1804 dime is also extremely rare, the 1802 has fewer known survivors. For collectors attempting a complete date set of early dimes, the 1802 represents the most significant challenge.
If I cannot afford an 1802 dime, what alternatives might capture some of its historical significance?
Collectors interested in the era might consider more affordable alternatives like an 1803 dime (still rare but more obtainable) or other denominations from 1802 such as the half cent, large cent, or half dime. For those specifically interested in early dimes, common dates in the Draped Bust series (1805, 1807) or the subsequent Capped Bust design offer more accessible entry points while still representing early American coinage.