1799/8 $1 Draped Bust Silver Dollar, 15 Reverse Stars BB-141 NGC MS61

Here's a fabulous coin from the early days of the U.S. Mint. NGC has graded 9 as MS61, with 22 finer. Collectors Universe prices it at $32,500.00 in MS61.

The mintage of the 1799 Draped Bust silver dollar was plentiful for its time: 423,515.  However, only about 6,500 have survived into the 21^st century. How did that happen? Because a great majority of the Draped Bust dollars were shipped to the East to be part of the China trade. The dollars of 1799 were worth $1.03 when they were produced at the Philadelphia Mint, which made them excellent candidates for instruments of international trade. Such coins were rarely seen in American commerce. Those that survived, including this offering from AUCM, were mainly stored in the First Bank of the United States.

The First U.S. Mint in Philadelphia, where this great rarity was produced in 1799.

Writes NGC Coin Explorer, “The large number of dies prepared for 1798's silver dollar coinage included one that was overdated 1799/8 the following year. This could be accomplished only with a die not previously used, as the hardening process precluded alterations to the date, thus there are no coins known from this die prior to its being overdated. The single overdated die was used in combination with three different reverses. BB-141 is the most common marriage…”