Type: Draped Bust Dollar Year: 1797 Mint Mark: No mint mark Face Value: 1.00 USD Total Produced: 7,000 [?] Silver Content: 90% Silver Weight: .7735 oz. Silver Melt: $18.36 Value: As a rough estimate of this coins value you can assume this coin in average condition will be valued at somewhere around $1030.00, while one in certified mint state (MS+) condition could bring as much as $103,000 at auction. This price does not reference any standard coin grading scale. So when we say average, we mean in a similar condition to other coins issued in 1797, and mint state meaning it is certified MS+ by one of the top coin grading companies. [?].
Additional Info: There are several variations of the 1796 Draped Bust Dollars, and as usual they can get a bit confusing. There is one version with 10 stars on the left and 6 stars on the right, 1 version with 9 stars on the left and 7 on the right with small letters, and then 1 version with 9 stars on the left and 7 stars on the right but with small lettering. The version with 9 stars on the left and 7 stars on the right but with small lettering must be harder to find because it tends to sell for 30% more than the other 2 versions.
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Numismatic vs Intrinsic Value: This coin in poor condition is still worth $1011.64 more than the intrinsic value from silver content of $18.36, this coin is thus more valuable to a collector than to a silver bug. Coins worth more to a collectors may be a better long term investment. If the metal prices drop you will still have a coin that a numismatic would want to buy.
Want more info? Then read Coin Collecting Investment an article that details the benifits of coin collecting as a way to build wealth. Also learn how to properly store your coins.
Current silver melt value* for a 1797 No mint mark is $18.36 and this price is based off the current silver spot price of $23.74 This value is dynamic so bookmark it and comeback for an up to the minute silver melt value.
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**When we say that 7,000, of these coins were produced or minted in 1797 this number doesn’t always match the actual circulation count for this coin. The numbers come from the United States mint, and they don’t reflect coins that have been melted, destroyed, or those that have never been released. Please keep that in mind.
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***Price subject to standard supply and demand laws, dealer premiums, and other market variations. Prices represent past values fetched at online auctions, estate sales, certified coins being sold by dealers, and user submitted values. While we wholeheartedly try to give honest price estimates there are many factors besides appearance, metal content, and rarity that help make up the coins overall value. Call or visit your local coin dealer for more information.
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