A Silver Dollar Coin from 1800 Is Being Auctioned for $7,000, and the Price Keeps Rising

Minted back in the late 1700s, this particular series was struck from 1798 to 1803.

A silver dollar coin from 1800 is being auctioned for a staggering $7,000, and the price is showing no signs of slowing down.

The coin, which originally had a value of $1, is part of the Draped Bust coins and was minted in the late 1700s. This particular series was struck from 1798 to 1803.

The coin is a B-13, BB-193 variety, struck in Philadelphia and designated as a Business (MS) strike. It is made of 89% silver and 11% copper, and only 220,920 were struck, making the coin notably rare.

Another detail that adds to the coin's significant value is the die crack across the top of America. The online auction site Heritage Auctions describes it as a “curved die line across the drapery and Liberty's chest.”

This coin features Lady Liberty with a "draped bust" facing right and her hair tied back with a ribbon. She is surrounded by stars on the left and right, the word "LIBERTY" at the top, and the date at the bottom.

On the reverse, the heraldic eagle has its wings fully spread and a shield in place of its chest. A ribbon hangs from the beak, inscribed with the motto E PLURIBUS UNUM. The eagle's right talon holds a bundle of arrows and an olive branch in the right. A group of stars and clouds are above the eagle’s head with the words UNITED STATES OF AMERICA.

Coins are graded on a scale of one to 70, with one being the poorest grade, and 70 being the most pristine example. Numbers 60 to 70 are generally the most sought-after by collectors and are known as Mint State coins.

At auction, pieces commonly fetch thousands in MS67, MS68, and MS69 conditions. An MS-70 is nearly impossible to find among older coins.

The Draped Bust has a few specific coins that are highly prized. These early Federal-era coins have two dates to watch for: the 1796 and 1804.

The 1804 date has a low mintage of just 6,738 as quarters were on a hiatus after a halt in production beginning in 1797.

The 1976 coin is extremely valuable in any grade, and collectors will pay top dollar for it. The coin was engraved by Robert Scot, who served as the chief engraver of the US Mint from 1793 until 1823.

One of these coins sold for over $9,000, and Heritage Auctions holds the record price at $ 1.7 million.

The U.S. Sun spoke with an expert who shared five tips for those looking to take on coin collecting.

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