Flowing Hair Dollar
(1794 – 1795)
The Flowing Hair Dollar holds a special place in U.S. history as the very first silver dollar ever produced by the United States Mint. First minted in 1794, this coin marks a pivotal moment in American numismatics. Interestingly, the Flowing Hair Dollar did not have a denomination indicator such as “1 D.” or “One Dollar.” Instead, the value was inferred from the coin’s diameter size and the inscription along the edge: “HUNDRED CENTS ONE DOLLAR OR UNIT.” The reverse of the coin showcases the Small Eagle portrait, giving it a distinct and timeless design.
Flowing Hair Dollar Design Details
Obverse:
The obverse of the 1794 Flowing Hair Dollar features Liberty with flowing hair, depicted in six distinct curls, with the third curl often being weak on many specimens. The design places the first star close to the number 1 in the date, and the second star near the first curl, although they don’t touch. Liberty’s face in this coin shows a fuller cheek and a more pronounced jawline compared to the 1795 version. The neck point is blunt, making it unique compared to other years of minting. This design isn’t replicated exactly in the 1795 coins, making 1794 examples highly sought after by collectors.
Reverse:
T he reverse features an eagle perched on a rock within a wreath of leaves, with 21 leaves on each branch. The wreath has 19 berries in total—10 on the left branch and 9 on the right. Notable details include a leaf joined to the second “T” in STATES and another that almost touches the right corner of “F” in OF. There is also a distinctive “lobster claw” pair of leaves under the second “T” of UNITED and the first “A” of AMERICA. The eagle’s wing touches the “R” in AMERICA, and the ribbons below the wreath are thinner and much closer together than those seen on the 1795 reverse. Additionally, the rock under the eagle’s feet extends much farther to the left than on any 1795 die. This die was retired after the 1794 coinage and was never used in the 1795 series.
Flowing Hair Dollar Values
Due to their rarity and historical significance, Flowing Hair Dollars are highly sought after in the coin-collecting community. These coins are rare in most grades and can command high prices, especially when found in higher grades of preservation. Factors influencing the value of a Flowing Hair Dollar include its overall condition, the rarity of the specific year, and the degree of wear and tear it has undergone over time.
Valuation Chart
Year | Approximate Value Range |
|---|---|
1794 | $100,000 – $10,000,000+ |
1795 | $50,000 – $3,000,000 |
Historical Context by Year
1794 – The Flowing Hair Dollar debuts as the first official silver dollar struck by the U.S. Mint; fewer than 2,000 pieces are minted, making it a legendary key-date coin. World Fact: France establishes the École Polytechnique, advancing science and engineering education during the French Revolution.
1795 – The design is slightly refined with a larger mintage, around 160,000 coins; production improves as the Mint gains experience with silver coinage. World Fact: Napoleon Bonaparte suppresses a royalist uprising in Paris, launching his rise to power.
Final Thoughts
The Flowing Hair Dollar is not only a piece of U.S. coinage history, but it is also an incredibly valuable collector’s item. Whether you are an experienced numismatist or just beginning your collection, owning a Flowing Hair Dollar is a rare and meaningful achievement. The rarity and historical significance of these coins, especially the 1794 issues, make them a prized possession in any collection.
Due to the unique design and limited mintage, it’s no surprise that these coins continue to command substantial values at auction. If you are lucky enough to own one, maintaining its condition will only increase its value over time.
Draped Bust Dollar
(1795 – 1804)
The Draped Bust Dollar was the second official U.S. silver dollar design, following the Flowing Hair Dollar, and it was struck from 1795 to 1804. Known for its elegant depiction of Liberty, this coin marks a pivotal era in U.S. coinage history. The Draped Bust Dollar was designed by artist Robert Scot, and it features a stunning portrayal of Liberty on the obverse and an eagle on the reverse.
Draped Bust Dollar Design Details
Obverse:
The Obverse of the Draped Bust Dollar features Lady Liberty, draped in a flowing gown and wearing a cap, symbolizing freedom. The design was based on a portrait of Liberty, with a more classical and serene face compared to the Flowing Hair Dollar. The Liberty inscription is positioned near the top, while the date of minting is placed below Liberty’s portrait. Surrounding her are 15 stars, representing the 15 states in the Union at the time of minting.
Reverse:
The Reverse of the Draped Bust Dollar displays a heraldic eagle with outstretched wings, clutching arrows in one talon and an olive branch in the other, symbolizing the nation’s readiness for both peace and war. The eagle is surrounded by a wreath of laurel leaves, and the inscriptions UNITED STATES OF AMERICA and ONE DOLLAR.
Draped Bust Dollar Values:
As one of the most iconic U.S. coins, the Draped Bust Dollar is highly collectible and valuable, with prices varying significantly depending on the coin’s condition and the specific year it was minted. The coins minted in the late 1700s are the most valuable, with the 1804 issues being particularly sought after.
Valuation Chart
Year | Approximate Value Range | Key Features, Dates, or Varieties |
|---|---|---|
1795 | $2,500 – $500,000+ | First year of Draped Bust Dollar production. Rarest varieties are the 9 Leaves on the Reverse and “Small Eagle” reverse. |
1796 | $5,000 – $1,000,000+ | First year with 15 stars, and very rare with Stars on Reverse; extremely low mintage. |
1797 | $4,000 – $800,000+ | Known for Starless Reverse variety; highly rare in high grades. |
1798 | $3,000 – $600,000+ | Small Eagle reverse. Often found with wear; more common than 1796. |
1799 | $3,000 – $500,000+ | Known for a larger date, and more readily available than earlier years. |
1800 | $2,500 – $300,000+ | Some varieties with a large date and pointed star tips are more valuable. |
1801 | $2,500 – $250,000+ | Known for the “Small Stars” variety, which is rare in high grades. |
1802 | $3,000 – $400,000+ | The overdated 1802/1 variety is particularly sought after. |
1803 | $2,500 – $350,000+ | Some rare varieties with a bold date and a large eagle reverse. |
1804 | $10,000 – $10,000,000+ (Highly prized rarities) | The most famous year due to the “Class I Proof” variety, with only 15-20 known to exist. It is a key rarity in the series. |
Notable Characteristics and Collectability:
T he Draped Bust Dollar is particularly notable for its historical significance as one of the first large-sized silver coins to be issued by the U.S. Mint.
It holds a special place in U.S. numismatics due to the transition from the Flowing Hair Dollar design and the stylistic differences in the depiction of Liberty.
The 1796 Draped Bust Dollar is especially rare, and as a result, it can command some of the highest prices for this series. Collectors often seek out well-preserved specimens, as these coins were heavily circulated and tend to show significant wear. Coins that are graded Extremely Fine or Uncirculated are highly sought after and can fetch premium prices.
