1799 $1 Draped Bust Silver Dollar, 8x5 Stars BB-159 PCGS VF30

Here's a classic American coin from the last days of the 18th century. PCGS has graded only 32 of the 8 x 5 Stars, BB-159 variety. Of those, there are 3 in VF30 with 22 finer. Collectors Universe prices this variety at $4,750.00 in VF20.

This is the only die pairing with the 8 x 5 stars obverse. Therefore, the arrangement of the stars was most likely an error on the part of the engraver. He carefully punched the stars on the left side of the die, and then realized that he placed eight (instead of the seven he planned on). Then he punched five additional stars for the required total of 13. This is a popular variety and a favorite of collectors.

The First Philadelphia Mint, where this great piece was struck in 1799. Image: Public domain.

The mintage of the 1799 Draped Bust silver dollar was plentiful for its time: 423,515.  However, the surviving total population is approximately 6,500. That is because a great majority of the Draped Bust dollars were shipped to the East to be part of the China trade. The dollars of 1799 were worth $1.03 when they were produced at the Philadelphia Mint, which made them excellent candidates for instruments of international trade. Such coins were rarely seen in American commerce. Those that survived were mostly stored in the First Bank of the United States.