The Pinnacle of Collectibility: 1804 Draped Bust Dollar Fetches $27.5 Million at Auction
In a record-breaking auction, a rare 1804 Draped Bust Dollar has sold for an astonishing $27.5 million, solidifying its place as the pinnacle of collectibility in the numismatic world. The historic coin, also known as the "King of American Coins," was sold by Heritage Auctions on behalf of the Royal Canadian Numismatic Association.
The 1804 Draped Bust Dollar is one of only eight known examples of this highly sought-after coin, which was originally minted in 1834 as part of a special order by King Louis XVIII of France. The coin is considered the holy grail of American numismatics due to its rarity, historical significance, and impeccable condition.
The 1804 Draped Bust Dollar is a testament to the craftsmanship and skill of early American coin minters. The coin features a striking design, with Lady Liberty depicted on the obverse and an eagle perched on a branch on the reverse. The coin’s surface is a radiant yellow-gold color, a testament to its 184-year-old heritage.
The coin’s history is almost as fascinating as its rarity. In the 19th century, the United States Mint mistakenly believed that the 1804 Draped Bust Dollar was actually minted in 1804, during the tenure of President Thomas Jefferson. As a result, the coin became a popular collectible among numismatists and connoisseurs.
Over the years, the coin has been owned by some of the most prominent collectors in history, including King Louis XVIII of France and billionaire businessman and collector, Walter Breen. Prior to its sale at auction, the coin was last seen in public at the 2010 Long Beach Coin, Currency, Stamp and Sports Memorabilia Auction, where it sold for a staggering $3.7 million.
The latest sale of the 1804 Draped Bust Dollar has set a new record for the most valuable coin ever sold at auction, eclipsing the previous record of $10 million for the 1933 Saint-Gaudens Double Eagle, which was sold at auction in 2002. The sale also underscores the growing demand for rare and historic coins among collectors and investors.
For many collectors, the allure of the 1804 Draped Bust Dollar lies in its exclusivity and rarity. With only eight known examples in existence, owning one of these coins is akin to owning a piece of history. The coin’s value is not only driven by its rarity but also by its historical significance and the prestige of owning one of the most iconic coins in American numismatics.
The sale of the 1804 Draped Bust Dollar serves as a reminder of the allure and mystique of rare coins, which can command astonishing prices at auction. For collectors and investors alike, the pursuit of these coveted coins is a never-ending quest, driven by the thrill of the hunt and the satisfaction of adding a piece of history to their collection.
As the coin’s new owner contemplates the significance of their recent purchase, it’s clear that the 1804 Draped Bust Dollar has solidified its place as the pinnacle of collectibility in the numismatic world. For now, this rare and historic coin will remain a prized possession, a testament to the craftsmanship and skill of early American coin minters and a reminder of the allure and mystique of the world’s most coveted coins.
