A Glimpse Into Early America: The 1797 Draped Bust Dollar

In the final years of the 18th century, the United States Mint was still in its infancy. Every coin struck in Philadelphia carried with it more than just monetary value; it was a symbol of a fledgling nation testing its identity, artistry, and place on the world stage. Among these early coins, few are as captivating as the Draped Bust dollar.
Introduced in 1795, the Draped Bust design replaced the earlier Flowing Hair motif. Legend has it that Philadelphia socialite Ann Willing Bingham posed as the model for Liberty’s portrait, lending the coin an air of elegance and refinement. Chief Engraver Robert Scot etched her image with flowing curls, a soft drapery at the neckline, and a gaze that seemed both hopeful and resolute.

Image: Anne Willing Bingham (1797), Philadelphia Museum of Art

The reverse carried the nation’s emblematic eagle, at first depicted small and perched within a wreath. Later years saw the adoption of the larger, more commanding eagle we recognize today. Together, these designs reflected a young nation’s ambition; balancing grace with strength.
By 1797, silver dollar mintages were modest, and each strike presented technical challenges. These coins were produced on large planchets with 18th-century presses, often resulting in weak strikes or imperfections. Surviving examples are scarce today, making every Draped Bust dollar a tangible link to early commerce and the lives of Americans who may have once exchanged them in bustling port cities or rural markets.
The Draped Bust dollar has long been considered a “trophy coin” for collectors. Its combination of artistry, history, and scarcity elevates it beyond mere currency into the realm of cultural artifact. The 1797 issue, in particular, is a prized centerpiece, anchoring collections with a story that resonates far beyond numismatics.
In recent years, demand for early U.S. silver dollars has grown steadily, fueled by both traditional collectors and investors seeking historically significant assets. Draped Bust dollars consistently perform well at auction: examples of the 1797 issue in mid-circulated grades often realize several thousand dollars, while higher-grade specimens can climb into five figures. Rarity, originality, and provenance all play major roles in driving results.

Featured Lot
Gold Standard Auctions is offering an attractive example of this historic coin in its upcoming sale Dallas Developer Coin Auction on August 31 at 10AM CT on Bidsquare.

1797 Draped Bust Dollar
Lot 322672
Estimate: $6,505 - $17,000

For collectors, opportunities to acquire a coin of this caliber are rare. The 1797 Draped Bust dollar embodies both the artistry of America’s first engravers and the enduring appeal of early U.S. silver coinage.

View the full catalog and register on Bidsquare.com.