The first silver dollar ever minted from the U.S. mint was the Bust Dollar. Being the first silver dollar minted from the U.S. mint, you can probably imagine that the mint was established shortly before the Bust Dollar was minted. The first design of the Bust Dollar which was used from 1794-95 was designed by Robert Scot, the second design which was from 1795-1798. Many are unsure of the true designer of the 1795 Bust Dollar.
The design of the 1794-95 Bust Dollar consists of a bust of Liberty with flowing hair, hence its other name the Flowing Hair Dollar, the bust of Liberty was surrounded by 13 stars. On the reverse of the Bust Dollar was an eagle surrounded by a wreath, the wreath was added due to instructions from government officials. The design of the 1795 Bust Dollar depicted a bust of Liberty with draped hair, which influenced the name which was the Draped Bust Dollar, 13 stars surrounded the bust of Liberty in this design as well. The reverse of the replacement design still had a wreath around an eagle, but was later changed to a heraldic bald eagle. Similar designs were used on the Bust Half Dollar.
The Bust Dollar was minted from 1794-1804 and was minted only in Philadelphia. Finding any Bust Dollar in decent condition is no easy task because of its age and low mintage. Most variations of the Bust Dollar will cost over a thousand dollars. Some of the key dates in the Bust Dollar series are as follows:
-1794 Bust Dollar
-1796 Bust Dollar Large Date, Small Letters
-1796 Bust Dollar Small Date, Large Letters
-1804 Bust Dollar Re-strike (only 15 coins known to exist and made in the late 1850's)
Although, the above are just a few of the key dates in the Bust Dollar series, you will be hard pressed to find any Bust Dollars that are not expensive. Most uncirculated specimens will run tens of thousands of dollars if not hundreds of thousands of dollars. When buying such a high end and expensive coin, most collectors will want to buy PCGS certified coins or NGC certified coins.
The Bust Dollar had a denomination of $1, weighed 26.96 grams, was composed of 89.24% silver and 10.76% copper, and had a diameter of 39.5mm. Almost all collectors buy the Bust Dollar for the numismatic value and not the silver content as every Bust Dollar specimen trades for way above the melt value.
Bust Dollar Mintages and Values
| Date | Mintage | Good | Very Fine | Extremely Fine | Uncicrculated | ||
| 1794 Flowing Hair Dollar | 1,758 | $67,500.00 | $165,000.00 | $325,000.00 | $1,000,000.00 | ||
| 1795 Flowing Hair Dollar (Two Leaves) |
160,295
|
$2,250.00 | $6,000.00 | $13,500.00 | $70,000.00 | ||
| 1795 Flowing Hair Dollar (Three Leaves) | $2,250.00 | $5,500.00 | $12,000.00 | $65,000.00 | |||
| 1795 Flowing Hair Dollar (Silver Plug) | $3,250.00 | $16,000.00 | $22,500.00 | $130,000.00 | |||
| 1795 Draped Bust Dollar (Off Center) | $1,850.00 | $5,100.00 | $9,500.00 | $60,000.00 | |||
| 1795 Draped Bust Dollar (Centered) | $1,850.00 | $5,100.00 | $9,500.00 | $55,000.00 | |||
| 1796 Draped Bust Dollar (Small Letters) |
79,920
|
$825.00 | $5,500.00 | $9,500.00 | $62,500.00 | ||
| 1796 Draped Bust Dollar (Large Letters) | $825.00 | $5,500.00 | $9,500.00 | $75,000.00 | |||
| 1796 Draped Bust Dollar (Large Date) | $825.00 | $5,250.00 | $9,500.00 | $62,500.00 | |||
| 1797 Draped Bust Dollar (10 Stars) |
7,776
|
$850.00 | $5,000.00 | $9,500.00 | $62,000.00 | ||
| 1797 Draped Bust Dollar(9 Stars, L Letters) | $850.00 | $6,000.00 | $9,500.00 | $63,000.00 | |||
| 1797 Draped Bust Dollar (9 Stars, S Letters) | $1,200.00 | $8,200.00 | $15,000.00 | $110,000.00 | |||
| 1798 Draped Bust Dollar (15 Stars) |
327,536
|
$2,150.00 | $8,000.00 | $14,500.00 | $84,000.00 | ||
| 1798 Draped Bust Dollar (13 Stars) | $1,850.00 | $7,750.00 | $13,000.00 | $150,000.00 | |||
| 1799 Draped Bust Dollar | 423,515 | $950.00 | $2,550.00 | $4,700.00 | $23,000.00 | ||
| 1800 Draped Bust Dollar | 220,920 | $900.00 | $2,400.00 | $4,600.00 | $24,500.00 | ||
| 1801 Draped Bust Dollar | 54,454 | $900.00 | $2,400.00 | $4,900.00 | $29,500.00 | ||
| 1802 Draped Bust Dollar | 41,650 | $950.00 | $2,500.00 | $5,000.00 | $30,000.00 | ||
| 1803 Draped Bust Dollar | 85,634 | $1,000.00 | $2,650.00 | $5,250.00 | $27,000.00 | ||
*Source 2020 Red Book