The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. The design succeeded the Flowing Hair dollar, which began mintage in 1794. It is unknown exactly when production of the new design began, as precise records relating to design were not kept at that time.
About Draped Bust dollar in brief
The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. The design succeeded the Flowing Hair dollar, which began mintage in 1794 and was the first silver dollar struck by the United States Mint. The designer of the coin is unknown, though artist Gilbert Stuart is widely acknowledged to have been its creator. It has been suggested that Philadelphia socialite Ann Willing Bingham posed as the model for the coin. The last date used during regular mint production was 1803. In 1834, silver dollar production was temporarily restarted to supply a diplomatic mission to Asia with a special set of proof coins. Officials mistakenly believed that dollars had last been minted with the date 1804. A limited number of 1804 dollars were struck in later years, and they remain rare and valuable. It is unknown exactly when production of the new design began, as precise records relating to design were not kept at that time. In September 1795, Henry William de Saussure wrote a letter to President George Washington urging him to make the unauthorized silver standard the official standard, but this was not done. Washington expressed his displeasure in the letter, stating that he had viewed deSaussure’s tenure with satisfaction.
As a result, the president was given the time to select a replacement to fill the position. The person chosen was statesman and former congressman Elias Boudinot, who was used since his duties at the Mint on October 28, 1795. He was chosen by the president to replace de Saussedure, who had been given time to complete his duties until the time of his resignation would not take effect until October 31, 1796. In October 1796, the Mint began minting the first of the first series of silver dollars, which were to be struck in 1801. The first series was struck in New York City, and the last in Philadelphia in 1802. It was the last silver dollar to be minted by the Mint before it was stopped in 1803 and replaced by the current series of dollars. The minting of the silver dollars was halted in 1804 due to a decrease in the amount of silver deposited at the Philadelphia Mint, which led to a decline in the number of silver dollar coins being minted. The Mint also stopped minting silver dollars in 1805. The silver dollar was last minted in 1807. The coin was struck with a fineness of 0. 892 silver, rather than the 0. 900 silver that had been used since 1794.
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This page is based on the article Draped Bust dollar published in Wikipedia (as of Nov. 07, 2020) and was automatically summarized using artificial intelligence.
