Some were brought back by service personnel returning from the Vietnam War. The coins produced for the diplomatic mission, those struck surreptitiously without edge lettering and those with lettering are known collectively as "Class I", "Class II" and "Class III" dollars, respectively. Silver Dollar Specimens There are 15 known specimens of the 1804 Silver Dollar in circulation. The Coinage Act of 1792, the legislation which provided for the establishment of the Mint of the United States (today the United States Mint), authorized coinage of multiple denominations of gold, silver and copper coins. This probably sounds illogical to the uninitiated, but there's really a rather simple explanation: Although they are dated 1804, all 15 of these rare silver dollars actually were minted decades later. The 15 known 1804 silver dollars include eight examples of Class I, one of Class II, and six of Class III. [63] In 1905, he recanted his earlier assertions, stating that "no one now believes that they were coined in 1804. By 1800, a majority of depositors requested their bullion be struck as silver dollars, which were then utilizing the Draped Bust design. [30] It is unknown why that date was chosen for the dollars, but numismatic historian R.W. [10][5] As large silver coins were a preferred method of commerce throughout the world, especially China, a considerable number of the United States dollars requested by silver depositors were exported to satisfy that demand.[9]. [39] In 1859, James Ross Snowden unsuccessfully requested permission from the Treasury Secretary to create patterns and restrikes of rare coins for sale to collectors, and in that year, dealers began offering plain edge 1804 dollars to the public. Mint. They were sometimes modified to include the current date, but that practice was not universally applied. "[64], According to Newman and Bressett, the manner in which the 1804 dollars were produced is proof that none were struck in 1804. The set consisted of a half cent, cent, dime, quarter, half dollar, dollar, quarter eagle, half eagle and eagle. Silver dollars, and the $1 denomination, were sparsely minted between 1804 and 1836, with the Gobrecht dollar minted at times during this 32-year period. [12] Mint Director Elias Boudinot began encouraging depositors to accept fractional coins, and the production of dollars began to decrease in relation to the smaller coins. [28] He delivered the next set to King Rama III of Siam the following year, on April 6. 1804 Second Reverse, Class II – Unique. Draped Bust silver dollars are early American coins made from 1795 through 1803. 15 are known. [58], The fact that no 1804 dollars were struck in 1804 was not widely accepted by numismatists until the early twentieth century. There is a degree of mystery on exactly when these 1804 silver dollars were minted, though by most accounts numismatists believe it was around 1834 or 1835 that these special presentation pieces were struck. Widely noted as the King of American coins, 1804 Draped Bust dollars are the poster child of United States rare coins and represent the holy grail of collecting for many hobbyists. Numismatic historian. The numbers come from the United States … See how many Draped Bust dollar coins were made and what they're … In response to numismatic demand, several examples were surreptitiously produced by Mint officials. [77] Nineteenth-century stage actor John T. Raymond purchased a specimen of the coin, which was later revealed to be a forgery, for $300. However, those coins, struck from old dies as was common practice at the time, were dated 1803. [7] In 1793, President George Washington signed into law a bill which declared Spanish milled dollars legal tender, provided that they weighed no less than 415 grains (26.9 g), which meant that at the lowest weight allowed by law, the Spanish dollars would contain approximately 0.5 percent less silver than the United States dollar coins. [53] Numismatic historian Q. David Bowers asserts that the 1804 dollar has attracted more attention than any other coin. Although the dollars struck in 1804 bore the date 1803, the eagles struck in that year were not antedated. A complete historical record is provided in Dave Bowers' book The Rare Silver Dollars Dated 1804 … In Saigon and other South Vietnamese cities, as well in nearby Thailand, military personnel were offered the copies by vendors who sometimes claimed that they were family heirlooms. [45] Six specimens of the Class III dollar are known today. Here’s a rundown on the various major types of silver dollars that have been struck since the United States Mint began making them in 1794: Flowing Hair Dollar … Another issue, the 1933 double eagle, with an auction record in … Officially, Roberts was a "special agent", but he was described in a later State Department document as a "Special Envoy". Haseltine. They were first created for use in special proof coin sets used as diplomatic gifts during Edmund Roberts' trips to Siam and Muscat. .mw-parser-output .tmulti .thumbinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}, In their book The Fantastic 1804 Dollar, numismatic historians Eric P. Newman and Kenneth E. Bressett assert that a problem arose at the Mint as to how to interpret Forsyth's order. As many numismatists know, there isn’t “a” single type of silver dollar, but in fact many types. There are four known types of 1804 dollars, including the following: 1804 Second Reverse, Class III – 6 minted, 1804 Mint-Made Electrotype of Unique Plain-Edge – 4 minted. [72], The price reached an all-time high in 1999, when the finest known specimen, graded Proof-68 by the Professional Coin Grading Service, which is believed to have been the example presented to Said bin Sultan, was auctioned by Bowers and Merena for $4,140,000. [61] Numismatists Lyman H. Low and William T. R. Marvin, writing for the American Journal of Numismatics in 1899, stated that "the journal confidently asserts that there is no dollar dated 1804 which was struck in that year by the U.S. There are six 1804 silver dollars in museums and nine in private hands. Q. Mint records from 1804 show there were 19,570 silver dollars made that year – that’s more than the 19 listed above. [c] The moratorium on silver dollar coinage had been lifted in 1831, but none had been coined since those issued in March 1804. There are a few rare Draped Bust dollars dated 1804. There are three major US silver dollar coins … [81][g] One such coin in the collection of the San Francisco Mint was described by them as genuine from 1887 to 1927. Unlike the original coins, these later restrikes lacked the correct edge lettering, although later examples released from the Mint bore the correct lettering. 1804 Second Reverse, Class III – 6 minted. This is sometimes known as the "King of Coins". From their discovery by numismatists, 1804 dollars have commanded high prices. [35], Collectors first became aware of the existence of the 1804 dollar in 1842, when a pantograph reproduction of one specimen was featured in A Manual of Gold and Silver Coins of All Nations, a work authored by Mint employees Jacob R. Eckfeldt and William DuBois. A collector subsequently acquired one example from the Mint in 1843. The 15 known 1804 silver dollars include eight examples of Class I, one of Class II, and six of Class III. [79][80], In addition to altered dates, electrotypes of the 1804 dollar were created, both for the purposes of study and fraud. [36] The fifth coin, alluded to by DuBois, is not currently accounted for, although its edge may have been lettered after its recovery in an attempt to pass it as an original. [71] A Class I specimen brought $77,500 at a 1970 Stack's auction, and during a 1980 rise in coin prices, a Class III example sold for $400,000 by Bowers and Ruddy Galleries. This page addresses counterfeit dollars between 1798 and 1804. 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