The 1803 Draped Bust Dime is a rare and valuable coin that holds a special place in U.S. numismatic history. First introduced in 1796, the Draped Bust Dime series was the second type of dime minted in the United States. The 1803 edition, in particular, is highly sought after by collectors due to its historical significance and rarity. Let’s explore the history, design, and value of the 1803 Draped Bust Dime.
History of the Draped Bust Dime
The Draped Bust design was created by artist Gilbert Stuart and was first introduced on U.S. coinage in 1795. The design features Lady Liberty with flowing hair, symbolizing freedom and democracy. The reverse side of the coin shows an eagle with a shield, surrounded by a wreath. This design was used on various denominations, including the dime, from 1796 to 1807.
The 1803 Dime Minting
The 1803 Draped Bust Dime was minted at the Philadelphia Mint, with a reported mintage of just 33,040 coins. While this may seem like a significant number, many of these coins have been lost, damaged, or melted down over the years, making surviving examples quite scarce today.
Design Features of the 1803 Draped Bust Dime
The 1803 Draped Bust Dime features a portrait of Lady Liberty on the obverse (front) side. She is depicted with flowing hair and draped clothing, giving the coin its “Draped Bust” name. The reverse side features an eagle with a shield, surrounded by an olive branch and arrows, symbolizing peace and strength.
| Feature | Description |
|---|---|
| Obverse Design | Lady Liberty with flowing hair |
| Reverse Design | Eagle with shield, olive branch, arrows |
| Edge | Reeded |
| Mint Mark | No mint mark (Philadelphia Mint) |
| Composition | 89.24% silver, 10.76% copper |
| Diameter | 19 mm |
| Weight | 2.70 grams |
Value and Rarity
The 1803 Draped Bust Dime is a rare coin that is highly sought after by collectors. The value of this coin depends on its condition, with prices ranging from a few thousand dollars for well-worn examples to over $100,000 for coins in mint condition. Due to its historical significance and low mintage, the 1803 Draped Bust Dime is considered one of the most desirable early U.S. coins.
Collecting the 1803 Draped Bust Dime
For collectors, the 1803 Draped Bust Dime is a prized piece of U.S. history. Its rarity and the historical context of early U.S. coinage make it a must-have for serious numismatists. However, because of its high value, collectors should be cautious when purchasing this coin, ensuring they are buying from reputable dealers and that the coin has been authenticated.
Conclusion
The 1803 Draped Bust Dime is more than just a rare coin; it is a piece of American history. From its elegant design to its low mintage and high value, this coin tells the story of early U.S. minting practices and the nation’s growing independence. For collectors and history enthusiasts alike, the 1803 Draped Bust Dime is a fascinating relic of the past, and owning one is a true accomplishment.
FAQ’s
1. How many 1803 Draped Bust Dimes were minted?
Approximately 33,040 1803 Draped Bust Dimes were minted at the Philadelphia Mint.
2. What is the composition of the 1803 Draped Bust Dime?
The coin is made of 89.24% silver and 10.76% copper.
3. How much is an 1803 Draped Bust Dime worth today?
Depending on its condition, the coin’s value can range from a few thousand dollars to over $100,000.
4. Why is the 1803 Draped Bust Dime so valuable?
Its low mintage, historical significance, and rarity make it highly sought after by collectors.
5. What should I look for when buying an 1803 Draped Bust Dime?
Ensure the coin is authenticated, in good condition, and purchased from a reputable dealer.