Lot 1342
1803 Draped Bust Dollar. Small 3. NGC graded AU-53. Untoned. Softly struck in areas of both sides but desirable nonetheless due to its choice surfaces and overall damage-free originality. Pop 1; 3 finer, 1 in 58, 1 in 61, 1 in 64 (PCGS # 6900) .
Final mintage: 1803-dated dollars were the last produced during the early 19th century. By this time it had become profitable to export or melt newly-minted dollars, and the continued production of them would have been an exercise in futility. Had it not been for this factor, coinage might have continued for many years. The existence of so many worn early dollars of the 1794-1803 years is evidence of their success in domestic channels of commerce (other dollar-sized coins, notably the Spanish-American issues, circulated very effectively as well). After the end of the draped bust obverse, heraldic eagle reverse coinage, the center of attention focused on the half dollar as the largest circulating silver coin, a situation the denomination filled for the better part of three decades.
Estimated Value $7,000 - 7,500.
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