Year after year, more and more people are discovering the joy of collecting coins and bills, with some lucky individuals even making considerable fortunes with their pieces. Recently, a special $1 silver coin known as the ‘1800 Draped Bust Dollar’ managed to sell for hundreds of thousands of dollars, highlighting the value of rare and unique pieces in the world of coin collecting.
Designed by Robert Scot, the ‘Draped Bust’ silver dollar was minted in 1800, with production being suspended in 1804 for over 30 years. The 1800 silver coin is particularly sought after by collectors, with mint state pieces being quite rare. According to the NGC price guide, the 1800 ‘Draped Bust’ silver dollar can sell for between $1,085 and $16,000 in circulated condition, but in mint uncirculated condition, it can fetch up to $310,000 in the open market.
However, collectors should be wary of counterfeits when purchasing the 1800 ‘Draped Bust’ silver dollar. The CoinHELPu YouTube channel and experts like Eric Miller advise caution when buying uncertified or online coins and recommend performing the ‘Ping Test’ to determine the authenticity of the coin.
With the numismatic world constantly evolving, it’s important for coin collectors to be informed about the value and authenticity of their pieces. The story of the 1800 ‘Draped Bust’ silver dollar serves as a reminder of the hidden treasures waiting to be discovered in the world of coin collecting.