Bust Dollar
When the United States first gained independence, the new government did not come to power with a ready-made currency. For several years, foreign coins like the Spanish Eight Reales were used in transactions. However, the government recognized that having their own currency was important for the development of national identity and prestige.
The Bust Dollar was one of the earliest coins to be minted. At the time, American coins shared the same basic design, so like other coins, the first Bust Dollar Coins had the Flowing-Haired Liberty design. As this design was not popular with the public, it was changed to the Draped Bust Liberty, who had more orderly hair and an ample chest. This new Liberty was designed by Gilbert Stuart, and modeled on a woman named Ann Willing Bingham. The design on the reverse side was that of a small eagle, which was later upgraded to a larger, stronger-looking eagle.
All the early Bust Dollar Coins may be broadly categorized into either Flowing-Haired or Draped Bust designs. However, these may be further broken down into narrower categories, based on details like the number of stars, etc. Such details will definitely be a factor in rarity, and therefore prices.
Early Bust Dollar Coins are quite rare, compared to other coins. Besides the normal vicissitudes of time, one of the reasons for this scarcity is that production was prematurely halted in order to stop bullion profiteering. An 1804 silver dollar is the rarest bird of all, and can be worth millions. This is not surprising, since the last silver dollars made for regular commerce were struck in 1804, but dated 1803. The Bust Dollar Coins dated 1804 were actually made much later, and only as special gifts.
Early Bust Dollar Fair Market Values in U.S. Dollars (1794-1803)
| Date/Type | G4 | VG8 | F12 | VF20 | XF40 | AU50 | AU53 | AU55 | AU58 | MS60 |
| Flowing Hair | | | | | | | | | | |
| **1794 Flowing Hair | $60,630 | $109,380 | $135,000 | $171,880 | $250,000 | $337,500 | $362,500 | $450,000 | $537,500 | $637,500 |
| *1795 Fl. Hair 2 Leaves | $1,910 | $2,530 | $4,940 | $7,190 | $13,750 | $21,880 | $24,690 | $29,060 | $53,130 | $75,000 |
| *1795 Fl. Hair 3 Leaves | $1,780 | $2,250 | $4,130 | $6,440 | $10,630 | $17,500 | $20,310 | $26,560 | $44,380 | $73,130 |
| *Type Flowing Hair | $1,780 | $2,250 | $4,130 | $6,440 | $10,630 | $17,500 | $20,310 | $26,560 | $44,380 | $73,130 |
| Dr. Bust Sm. Eagle | | | | | | | | | | |
| *1795 Sm. Eagle | $1,440 | $2,160 | $3,750 | $5,810 | $11,060 | $15,940 | $17,190 | $21,250 | $29,380 | $45,500 |
| *1796 | $1,500 | $2,040 | $3,560 | $5,190 | $11,560 | $17,190 | $18,130 | $21,560 | $30,810 | $66,950 |
| *1797 9x7 Sm. Letters | $1,740 | $2,430 | $4,030 | $8,690 | $18,750 | $30,630 | $33,130 | $45,630 | $54,380 | $73,450 |
| *1797 9x7 Lg. Letters | $1,380 | $2,310 | $3,560 | $5,940 | $11,250 | $16,880 | $18,130 | $23,130 | $30,630 | $57,010 |
| *1797 10x6 Stars | $1,380 | $2,040 | $3,560 | $5,500 | $11,440 | $16,250 | $17,940 | $21,250 | $33,130 | $56,880 |
| *1798 13 Stars | $1,560 | $2,280 | $4,220 | $5,810 | $11,560 | $24,380 | $35,630 | $41,880 | $90,630 | $169,000 |
| *1798 15 Stars | $1,770 | $2,340 | $4,410 | $6,910 | $13,750 | $25,630 | $30,630 | $37,500 | $40,630 | $79,950 |
| Dr. Bust Heraldic Eagle | | | | | | | | | | |
| Dr. Bust Her. Eagle Type | $990 | $1,080 | $1,630 | $2,280 | $4,440 | $7,310 | $8,060 | $8,470 | $15,630 | $21,880 |
| 1798 Heraldic | $990 | $1,080 | $1,720 | $2,280 | $4,440 | $7,310 | $8,060 | $8,470 | $15,630 | $21,880 |
| *1799 | $1,050 | $1,170 | $1,630 | $2,410 | $4,590 | $7,560 | $8,750 | $9,560 | $15,630 | $22,810 |
| *1799 9 over 8 | $1,050 | $1,180 | $1,920 | $3,060 | $5,310 | $8,940 | $9,810 | $10,190 | $18,560 | $26,880 |
| 1800 | $990 | $1,080 | $1,750 | $2,500 | $4,630 | $8,310 | $9,280 | $9,940 | $18,440 | $28,440 |
| *1801 | $1,070 | $1,110 | $1,970 | $2,940 | $5,500 | $9,940 | $10,690 | $13,690 | $20,310 | $26,880 |
| *1802 | $1,050 | $1,180 | $1,910 | $2,750 | $4,940 | $8,560 | $10,130 | $12,810 | $17,810 | $28,440 |
| *1802 Proof Restrike | -- | -- | -- | -- | -- | -- | -- | -- | -- | $100,000 |
| *1802 2 over 1 | $1,110 | $1,200 | $2,030 | $2,810 | $5,530 | $10,560 | $11,440 | $12,440 | $19,380 | $30,310 |
| *1803 | $1,070 | $1,110 | $2,000 | $3,160 | $5,190 | $8,590 | $10,810 | $11,810 | $17,810 | $25,630 |
| *1803 Proof Restrike | -- | -- | -- | -- | -- | -- | -- | -- | -- | $100,000 |
| **1804 Proof | -- | -- | -- | -- | -- | -- | -- | $2,437,500 | $2,625,000 | $2,875,000 |
Early Bust Dollar Coins on eBay
