By CoinWeek…
The United States Mint has proudly announced the fourth release in its exclusive “Best of the Mint Series,” featuring a modern tribute to one of American numismatics’ most coveted treasures: the storied 1804 Draped Bust Dollar.
Often called the “King of American Coins” for its extraordinary rarity and mystique, the 1804 Dollar is being reissued as a remarkable one-ounce, 99.99% fine gold coin, offering collectors a chance to own a piece of this legend as the nation approaches its Semiquincentennial in 2026.
A History of Myth, Diplomacy, and Rarity
The original 1804 Draped Bust Dollar is one of the most significant and elusive treasures in American numismatics, with only 16 examples known to exist across all strikes.
Despite the 1804 date stamped on the coin, the original pieces were not struck until 1834. President Andrew Jackson commissioned these special proof sets for diplomatic gifts to rulers in the Far East. Mint records at the time mistakenly indicated that 1804 was the last year the silver dollar had been produced, leading Mint officials to backdate the new coins to avoid issuing a dollar dated 1834 with an outdated design. Ironically, this decision instantly created one of the world’s greatest numismatic rarities.
These “Class I” dollars embarked on a historic journey, sailing around the world with U.S. envoy Edmund Roberts and presented to dignitaries including the King of Siam (now Thailand) and the Sultan of Muscat.
The coins were struck using the elegant Draped Bust design by Robert Scot and John Eckstein, featuring Liberty on the obverse and the Heraldic Eagle on the reverse.
The overwhelming demand for the coin among collectors following its public discovery in 1842 led to later, unauthorized “restrikes” by Mint employees, further solidifying its status as a coin steeped in drama and controversy.
Of the original diplomatic strike, known as “Class I,” only eight examples are known to exist. These coins have achieved multi-million dollar prices at auction, with the Sultan of Muscat specimen selling for $7.68 million in 2021.
New Gold Coin and Silver Companion
The new 1 oz gold reissue aims to honor the original coin’s elegant design and historic diplomatic mission. Alongside the gold coin, the Mint also announced a one-ounce silver companion medal, which draws its inspiration directly from the iconic coin and its place in American history.
The launch marks the fourth release in the “Best of the Mint Series,” continuing the tradition of celebrating the most legendary coins from the U.S. Mint’s 230-year history. Collectors across the country can now acquire a modern tribute to a coin that stands as a monumental symbol of American ingenuity and history.
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