Lot 2790
1797 Draped Bust Dollar. 10 stars left, 6 right. NGC graded EF-45. Nice even natural toning. The reverse is a bit stronger than average for this often indifferently struck year, with splendid detail in the wings and body, including fully defined feet, which aren't always present. Choice surfaces can be seen everywhere, with or without the aid of a loupe. This is a truly exceptional 1797 Bust dollar for the grade. Careful study finds nothing untoward to detract from its beauty, and everything positive to attract your bids.
The minting of all silver coins fell to a very low ebb in 1797, well under that of the low level of 1796. Only 7,776 silver dollars were delivered by Chief Coiner Voight during the entire year, with nearly all of these during the months from May through August. The other silver denominations were coined, but mostly in small numbers as well.
So little silver bullion was being deposited in 1797 that Mint officers, especially Assayer Joseph Richardson, went to great lengths to encourage depositors as well as bringing in silver themselves. In June 1797 even Secretary of State Thomas Jefferson brought 300 Spanish dollars to the Mint for recoinage. (The silver famine at the Mint began to end toward the end of 1797 and by early in 1798 there was a sufficient supply to start coining silver dollars in large numbers once again.) Pop 15; 17 finer.
Estimated Value $7,500 - 8,500.
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