The 1803 Draped Bust silver dollars have value as numismatic coins. Keep reading to learn more about these coins.
Specifications
Type: Draped Bust Dollar
Year: 1803
Face Value: $1.00
Composition: 89.24% silver, 10.76% copper
Silver Weight: .7731 oz.
Total Weight: 26.96 grams
Current Silver Bullion Value: $21.60
The US minted the 1803 silver dollar with no mint mark. Each coin was minted in Philadelphia.
There are two different varieties for this coin. There is the variety with the small 3 in the date, and the variety with the large 3 in the date. See the image below for reference.
| Series | Location | Quantity Minted |
|---|---|---|
| 1803 | Philadelphia | 85,634 |
Value
This coin in circulated condition is worth a lot more than its weight in silver. But just for reference, the silver melt value for this coin is $21.60. This melt value is calculated from the current silver spot price of $27.94 per ounce.
The 1803 silver dollar with the small 3 is worth around $1,100 in good condition. In very fine condition the value is around $2,750. In extremely fine condition the value is around $5,000. Uncirculated coins with a grade of MS 60 can sell for around $30,000.
The 1803 silver dollar with the large 3 is worth around $1,100 in good condition. In very fine condition the value is around $2,750. In extremely fine condition the value is around $4,500. Uncirculated coins with a grade of MS 60 can sell for around $27,000.
There was a proof restrike and four proof coins are known to exist. The value for each coin is around $1,500,000 in PR 65 condition.
Grading System
Good- The bust is outlined but there is no detail. The date is legible and some leaves can be seen.
Very fine- The left side of Liberty's drapery is smooth.
Extremely fine- Liberty's drapery and hair are completely visible.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
PR 65 proof- There are no flaws to this coin. A few blemishes may be present.
Sources:
The Red Book