The 1797 Dollar is included in the coin design known as the Draped Bust. While the remainder of the denominations were primarily constructed of silver with that infamously short-legged bald eagle on the tails side, the Half Cent and Penny variants had copper compositions with wreath reverses. But what is the worth of a 1797 dollar coin?
Let’s zoom in to better comprehend this coin’s current statistics.
History of the 1797 Dollar Coin
The Draped Bust series (1795 through 1803 including special editions dated 1804) includes the 1797 Dollar. Although the identity of the designer or model is unknown, it is generally accepted that Gilbert Stuart created the coin, Anne Willing Bingham acted as the model, and Robert Scot engraved it. The first 90% silver dollars were produced in 1794. For the Draped Bust in 1795, that percentage rose to 89.2%.
The filler metal used in both instances was copper. Additionally, although the original 1792 Coinage Act called for 89.2%, the mint rounded it up to 90%. The original ratio was immediately restored within a year because this mismatch was costing silver suppliers money. At Coin Value Checker, you may read more about the coin’s background, features, and mintage numbers.
Due to a lack of silver, 1797 saw the production of only 7,776 Silver Dollars. The government’s main source of silver was decreasing as fewer miners sent their silver to the mint. In June, 300 Spanish silver dollars were personally offered by President George Washington. The Philadelphia Mint then received a loan of French silver worth around $30,000 from the Bank of the United States in November.
Features of the 1797 Dollar Coin
The heads side of a coin is referred to as the obverse, the tails side as the reverse, and the narrowest side as the edge when describing its features. All coins are produced on planchets, which are blank discs with raised edges known as rims or collars. While the words on a coin are referred to as legends or mottos, the visuals are referred to as devices.
Edge lettering or edge inscriptions are the names for the wording found on some coins’ edges. They might also have reeds, which are ridges. By scratching metal from the sides of the coin to make them lighter and lower in value, cheaters are prevented by these features. Smooth or plain edges are used to describe coins without reeds. The field is the term for a coin’s backdrop.
Obverse of the 1797 Dollar Coin
The 1797 Dollar coin’s obverse (heads side) features Lady Liberty, who has lovely curls and a ribbon in her hair. She faces right and has some cleavage visible in her outfit. Above her head, the phrase “Liberty” is displayed, and below her shoulder is the mint date. The six-pointed stars on the sides of the coin stand in for the states that had just entered the Union at the time it was struck.
Reverse of the 1797 Dollar Coin
The 1797 Dollar coin’s reverse (tails side) has a bald eagle with its wings spread wide and its head turned to the right. It is perched on a cloud and surrounded by an olive and a laurel branch. The bottom of the two sprigs is fastened with a ribbon. Along the coin’s edge, United States of America is written. It was created in Philadelphia but bears no denomination or mint mark.
Other Features of the 1797 Dollar Coin
The coin has denticles around the front and rear rim and was 39 to 40 mm in diameter. It was 10.8% copper and 89.2% silver, weighing 26.96g. One Dollar or Cents is written in edge letters. Lady Liberty was portrayed similarly on the 12 Cent, 1c, Half Dime, Dime, Quarter, Half Dollar, and $1 coins. Edge lettering, metal, and size made a difference.
Value of the 1797 Dollar Coin
The Union had thirteen states symbolized by thirteen stars when Draped Bust Dollars were first issued. A star was added to the currency whenever a new state joined. After the 16th state, the currency returned to the 13 stars that recognized the first founding states because this proved to be impracticable in the long run. The location of the stars does, however, have an impact on the value of a $1 coin from 1797.
1797 Dollar Coin 10 x 6 Stars
The word Liberty was surrounded by 10 stars on the left and 6 stars on the right in this particular variation. For $440,625 in November 2013, an MS 64+ was sold. But that happened ten years ago. In April 2015, an MS 65 sold for $223,250, down from $258,750 in August 2011. Additionally, an MS 63 cost $64,625 in September 2021. However, with only 3 applications received, the price for an MS 64 in 2023 is $300,000.
1797 Dollar Coin 9 x 7 Stars Small Letters
The United States of America legend is smaller on the reverse of this coin, and Liberty is surrounded by 9 stars on the left and 7 stars on the right. A MS 64 sold in November 2015 for $381,875. By June 2023, this cost was expected to be $350,000. Even the lowest grade, PO-1 (where PO stands for Poor), will sell for $1,500 in 2023, making it still a valuable coin.
1797 Dollar Coin 9 x 7 Stars Large Letters
With nine stars to Liberty’s left and seven to her right, the font for the United States of America is larger. An MS 62 cost $164,500 in November 2013. With a G4 costing $2,880 in 2022 and $2,760 in 2023, recent sales are lower. An AU 55 cost $38,775 in 2022 and an F15 $4,350 in 2023. MS64, with an estimated value of $250,000 in 2023, is the highest grade ever submitted to PCGS.
1797 Dollar Coin B2 BB-72 Small Letters 9 x 7 Stars
A prototype is used to create hubs, which create dies, which produce coins later on. And depending on the currency, a die can be used anywhere between 10,000 and 1M times. Thus, the value of a coin may vary depending on the coins produced with a certain die. Milford Bolender, David Bowers, and Mark Borckardt are the three Bs, and they are the authors of in-depth coin books.
All the silver dollar variants from 1794 to 1803 were listed in their two publications, 1950 and 1993, respectively. The first B is from the earlier 1950 edition of the book, but the other two are from the 1993 revision. A relatively recent May 2022 auction saw an AU 50 sell for $66,000. Since there are no verifiable sales accessible on the public record for items valued at AU 53+, all indicated prices are approximations.
1797 Dollar Coin B1 BB-73 Large Letters 9 x 7 Stars
The MS 62 auction record for this type is $79,313, which was attained in May 2016. An MS 63 expected to sell for $175,000 in 2023 is the highest PCGS submission to date. An AU 55 sold for $26,400 in May 2022, down from $25,850 in January 2017 and $31,050 in May 2012, according to certain recent statistics. But in 2022, an XF 40 cost the same $10,200 that an XF 45 did in 2020.
1797 Dollar Coin B3 BB-71 10 x 7 Stars
The legend sizes on coins with 10 stars on the left and 7 stars on the right were all the same, hence they are not divided into Large Letter and Small Letter kinds. An MS 64 sold for $188,000 in May 2016, up from $182,267 in 2015. The lowest conceivable grade (PO-1) is projected to cost $1,250 in June 2023, while the highest submission to date (MS 64) is projected to cost $300,000.
FAQs About the 1797 Dollar Coin
What Does the 1797 Coin Look Like?
All coins in circulation in 1797 had the Draped Bust obverse. While the Half Cent, Dime, Quarter, Half Dollar, and $1 were 89.2% silver and featured the bald eagle reverse, the Half Cent and Penny, often known as the Large Cent, were 100% copper with the wreath reverse. The Silver Half Dollar and $1 coin’s edges were etched with their respective denominations. Smaller coins didn’t, though.
How Much is the 1797 Dollar Worth?
The 2023 price prediction for a 1797 Dollar coin ranges from $1,250 for a Poor 1 (PO 1) to $350,000 for an MS 64, depending on its grade and variation. However, an MS 64+ with 10 x 6 stars that sold for $440,625 in November 2013 is the coin that sold for the highest reported amount for a 1797 dollar.
