Are you collecting Draped Bust silver dollars and wondering about the 1802 silver dollar’s value? This coin, while not considered a key date, is steeped in history and remains highly sought after by serious numismatists. With its low mintage, historic design, and increasing rarity, the 1802 Draped Bust silver dollar is a standout piece in early American coinage.
In this detailed guide, you’ll discover the value ranges, historical context, and grading insights for the 1802 silver dollar. Whether you’re thinking of buying, selling, or simply learning more, this guide will help you make smart, informed decisions.
1802 Silver Dollar Value Chart
| Grade | Value Range |
|---|---|
| Good (G) | $1,100 |
| Fine (F) | $1,975 |
| Extremely Fine (XF) | $5,450 |
| Mint State (MS65) | Up to $265,000+ |
A Brief History of the 1802 Silver Dollar
The 1802 Draped Bust dollar is part of a coin series produced by the U.S. Mint between 1795 and 1803. Although 1804-dated coins exist, those were restrikes made decades later and are among the rarest U.S. coins.
The 1802 dollar was struck during a time of transition and experimentation at the Mint. Public dissatisfaction with the earlier Flowing Hair design led to a redesign in 1795. The new design, widely attributed to artist Gilbert Stuart and engraver Robert Scot, featured Lady Liberty in classical drapery—believed to be modeled after Philadelphia socialite Ann Willing Bingham.
Only 41,650 silver dollars were minted in 1802, with no mint marks since all were struck at the Philadelphia Mint. These early coins used hand-struck dies, which often resulted in subtle design inconsistencies that are now prized by collectors.
By 1804, silver dollar production ceased altogether and didn’t resume until the 1830s, making any early 1800s silver dollar an exceptional collector’s item.
Physical Characteristics of the 1802 Draped Bust Dollar
Understanding the details of the coin helps in both authentication and grading:
- Diameter: 40.00 mm
- Weight: 27.00 grams
- Metal Composition: 89.2% silver, 10.8% copper
- Edge: Lettered — “HUNDRED CENTS ONE DOLLAR OR UNIT”
- Actual Silver Weight (ASW): 0.7731 oz
- Fineness: 0.892
Obverse Features
The front shows a bust of Liberty facing right, her hair tied with a ribbon. The word LIBERTY arches above her head, and the date 1802 appears below. Surrounding Liberty are 13 stars, representing the original U.S. colonies.
Reverse Features
The reverse features a heraldic eagle clutching arrows and an olive branch, symbolizing war and peace. A ribbon in its beak bears the motto “E Pluribus Unum.” Above the eagle is a constellation of 13 stars, and UNITED STATES OF AMERICA encircles the outer edge.
1802 Silver Dollar Value Guide
The 1802 Draped Bust dollar is valuable across nearly all grades, but the real jumps in price come at higher grades:
Circulated Grades
Even worn coins are worth strong money due to their scarcity:
- Good (G): $1,100+
- Fine (F): Around $1,975
- Extremely Fine (XF): Up to $5,450
- About Uncirculated (AU58): Around $17,000
Mint State Grades
Uncirculated examples are exceptionally rare and command steep premiums:
- MS60: Up to $23,000
- MS63: Up to $84,000
- MS65: Up to $265,000+
Auction Record
One of the finest examples, graded MS65+, sold at Heritage Auctions for an astonishing $300,000, setting a record for this date.
Grading Tips for the 1802 Silver Dollar
Grading is crucial for determining a coin’s market value. Focus on the following elements:
- Liberty’s Hair and Cheek: Look for fine strands of hair and a defined cheekbone. Heavy wear flattens these areas in lower grades.
- Stars and Inscriptions: Sharp stars and legible inscriptions indicate a higher grade.
- Eagle Detail: On the reverse, observe the clarity in the eagle’s wings, tail, shield, and talons.
Always compare your coin with authenticated reference images or have it graded by a trusted third-party service like PCGS or NGC.
Rare 1802 Silver Dollar Varieties and Error
Several die varieties and minting errors increase the collectibility and potential value of this coin:
1. Wide vs. Narrow Date
This variety refers to the spacing between the digits in “1802.” While visually interesting, neither version carries a higher premium over the other.
2. Overdate Error (1802/1)
One of the most notable varieties, this error features a “2” punched over a “1.” It resulted from reusing leftover 1801 dies. These coins are rarer and can fetch $100–$250 more than standard issues.
3. Doubled Die Error
Occasionally, doubling appears in inscriptions or design elements due to misaligned die strikes. These pieces are prized by specialists and can command a $50–$200 premium.
Where to Sell Your 1802 Silver Dollar
Once you determine your coin’s value, the next step is selling. Trusted platforms include:
- Heritage Auctions – Ideal for high-grade coins or rare varieties.
- GreatCollections – Offers competitive rates and expert grading.
- eBay – Popular but requires strong seller protection and good feedback.
- Local Coin Dealers – Convenient for fast sales, but offers may be lower.
- Coin Shows or Conventions – Excellent places for direct sales and networking.
Ensure your coin is authenticated and, if possible, professionally graded before listing it for sale. This helps increase buyer confidence and final sale price.
Final Thoughts
The 1802 Draped Bust silver dollar isn’t just a coin—it’s a tangible piece of American history. Whether you own one or are planning to acquire one, understanding its value, features, and varieties can help you make more informed decisions.
While not as rare as the famed 1804 dollar, the 1802 issue still commands serious respect in the numismatic community. Its value reflects not only its scarcity but also the enduring fascination with early U.S. coinage.
FAQ
How Much Is an 1802 Silver Dollar Worth?
The value of an 1802 Draped Bust silver dollar varies by grade, typically ranging from around $1,100 for circulated coins to $275,000 for Mint State and Gem examples.
Is an 1802 Silver Dollar Rare Today?
Yes, the 1802 silver dollar is rare. Its low mintage and age mean that very few exist today, especially in Mint State or Gem condition.
How Can I Tell If My 1802 Silver Dollar Is Real?
Authenticating early U.S. coins can be challenging. To confirm that your 1802 silver dollar is genuine, it’s best to have it assessed by a reputable grading company like the PCGS or NGC. Be cautious of counterfeits, as they can be very convincing.
