The Draped Bust dollar is a silver dollar coin minted by the United States Mint from 1795 to 1804. It was the second official dollar coin issued by the U.S. Mint, following the Flowing Hair dollar. The Draped Bust design was created by Gilbert Stuart and John Eckstein, and it features a bust of Liberty on the obverse and an eagle on the reverse.
There are two major varieties of the Draped Bust dollar: the Small Eagle reverse and the Heraldic Eagle reverse.
Small Eagle Reverse (1795-1798): This early variety of the Draped Bust dollar features a small eagle on the reverse, along with a wreath. The words "UNITED STATES OF AMERICA" surround the eagle.
Heraldic Eagle Reverse (1798-1804): In 1798, the design was modified to include a larger eagle with a heraldic shield on its breast. The eagle holds an olive branch and arrows, symbolizing peace and readiness for war. The reverse also features a banner with the motto "E PLURIBUS UNUM" and a cluster of stars above the eagle.
The Draped Bust dollars are significant not only for their historical and numismatic value but also because they were produced during a crucial period in American history. The production of silver dollars was interrupted in 1804 due to a lack of demand, and no silver dollars were minted again until 1836.
The 1804 Draped Bust dollar is particularly famous among collectors, as it is a rare and valuable coin. However, it's important to note that no Draped Bust dollars were actually minted in 1804. The known examples of the 1804 dollar were actually struck in the 1830s as diplomatic gifts for foreign dignitaries.