1802 $1 Draped Bust Silver Dollar, Narrow Date BB-241 PCGS VF35

Here’s a reasonably priced—and attractive—1802 Draped Bust dollar in the collectible grade of VF35. The Narrow Date BB-241 is a quite popular 1802 silver dollar variety, for it surpasses the obtainability of all other varieties of the 1802 dollar combined. The right foot of the T in LIBERTY is missing, telling you immediately—along with the Narrow Date—that it is indeed a BB-241 variety.

PCGS has graded a total of 58 of the BB-241 variety. Of those, there are 8 in VF35 with 34 finer. Collectors Universe gives the BB-241 a price of $4,000.00 in VF35.

Ann Willing Bingham at the age of 21, the alleged model for the Draped Bust coinage, as rendered by Gilbert Stuart in 1785. Image: Wikimedia Commons.

The 1802 was the penultimate issue of the Draped Bust type silver dollar, which replaced the Flowing Hair type of 1794-1795. The obverse was engraved by Robert Scot, chief U.S. Mint engraver. The same design was also displayed upon the fractional copper and silver coinage as well, but first appeared on the silver dollar.

Legend tells us that the appearance of Liberty was modeled upon a Philadelphia socialite, Ann Willing Bingham, from a drawing by artist Gilbert Stuart. This design change after only one year (from the Flowing Hair type) was the brain-child of Mint Director Henry DeSaussure (and probably with the encouragement of President Washington) in his desire to improve the appearance of all U.S. coinage. John Eckstein, an artist from Rhode Island, crafted a plaster model of Stuart's rendering, from which Scot prepared the dies.