Draped Bust Dollar & Capped Bust Half Dollar: Values & Key Dates (1795-1839)

The American history of coinage is rich with symbolic depictions that reflect the nation and its spirit. It was during the early minting period that two coin series were born: there appeared the famous Draped Bust and Capped Bust coins, both capturing the aspiration for independence and identity of the new nation.

But why was one series of coins eventually replaced by another? What symbols and ideas do they reflect? What is the best way to check collector coins for value? And how much do these design patterns cost today?

A picture of the Draped Bust and Capped Bust designs compared side by side, showing the evolution of early U.S. coinage.

Draped Bust Design

Since the late eighteenth century, the United States has sought to establish itself as a new nation with a cultural force by its side. The first series to mark the era of “state coins” was the Draped Bust in 1975.

The appearance of this series was indeed a landmark event. It was designed by the famous American portraitist Gilbert Stuart (who was also renowned for his portraits of George Washington). His design with the bust of Lady Liberty was meant to convey the ideals of freedom, and the image itself should have been classic and elegant. This is what he had done.

The Main Features

A picture of a Draped Bust Dollar, an early American silver coin minted between 1795 and 1804.

Obverse: Just like the 1 Cent USA 1964, it features Lady Liberty, with waving hair and an elegant drapery on her shoulders (which became an easily recognizable element and determined the name of the entire series).

Reverse: Early versions of the coins featured the Small Eagle (fine and detailed), which was replaced by the Heraldic Eagle (larger and more majestic) in 1798. The eagle is captured with its wings spread wide, holding an olive branch and a bundle of arrows.

Denominations

Draped Bust Half Cent: Minted from 1800 to 1808, copper.
Cent: Released from 1796 to 1807, copper.
Draped Bust Dime (10 cents): Issued from 1796 to 1807, silver.
Quarter (25 cents): Introduced in 1796, suspended in 1807, silver.
Draped Bust Half Dollar (50 cents): Minted from 1796 to 1807, silver.
Draped Bust Dollar: Issued from 1795 to 1804 (though most dated 1804 were struck later), silver.

Draped Bust Samples That Matter

1804 $1 Original - Class I (Proof)

A picture of the 1804 $1 Original - Class I (Proof), one of the most legendary coins in American numismatics.

Mintage: 8

Auction Record: $7,680,000 (PR68)

Known as the “King of American Coins”, this diplomatic-strike rarity was not minted in 1804 at all, but in 1834 for overseas presentation sets. There exist three major classes that slightly differ. Class I is characterized by the lettered edge, for example.

1802 H10C (Regular Strike)

A picture of the 1802 Draped Bust Half Dime (Regular Strike), a rare early U.S. silver coin.

Mintage: 3,060

Auction Record: $456,000 (AU53)

The 1802 issue is a legendary low-mintage half dime that is nearly impossible to find in high grade – none exist in true Mint State.

1797 50C (Regular Strike)

A picture of the 1797 Draped Bust Half Dollar (Regular Strike), an early and scarce American silver coin.

Mintage: 2,984

Auction Record: $1,560,000 (MS65+)

Among the rarest early half dollars is the 1797 50C coin, with fewer than 200 known survivors. Its beauty and scarcity fuel fierce competition among collectors.

Capped Bust Design

As society evolved and the population grew, there was a need to update the coin design to be more in line with popular expectations and American identity. This is why in 1807 the Draped Bust series gave way to a new design, the Cap Bust coins.

John Reich's design of Lady Liberty was more modern and dynamic. Unlike the previous series, Capped Bust focused on the heroic and determined appearance of Lady Liberty; her image was less formal and more folksy.