1797 Silver Dollar Coin Value: How Much Is It Worth Today?

The 1797 Draped Bust silver dollar is fascinating not just for its historically low mintage but also for its unique die varieties. Have you ever wondered what it would be like to own this remarkable coin? Are you curious about the 1797 dollar value? Whether you’re looking to buy or sell a 1797 silver dollar, this guide is for you!

We’ll explore the rich history of the 1797 Draped Bust silver dollar and highlight its unique features. You’ll also find expert tips on grading your coin and learn about notable minting errors that can significantly add to your coin’s value.

So, let’s jump in and answer the big question: How much is the 1797 silver dollar worth today?

1797 Silver Dollar Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1797-No Mint Mark Silver Dollar Value	$1,600	$3,600	$10,600	$400,000

 

History of the 1797 Silver Dollar

The 1797 silver dollar belongs to the Draped Bust Dollar series, minted by the United States Mint from 1795 to the early 1800s. The design replaced the Flowing Hair Dollar, the first U.S. silver dollar, minted in 1794 shortly after the Philadelphia Mint was constructed.

The Coinage Act of 1792 paved the way for the regulation of U.S. coinage and required that silver coins be struck in 89.2% silver and 10.8% copper. However, Mint officials went against this requirement, striking the 1794 Flowing Hair dollar in 90% silver. In 1795, Henry William de Saussure was appointed as the new Director of the Mint He may have suggested redesigning the silver dollar, especially as the Flowing Hair design faced a lot of public criticism. So, after just one year in circulation, the Flowing Hair design was discontinued and replaced by the Draped Bust design. 

Artist Gilbert Stuart is believed to have created the Draped Bust design, with Philadelphia socialite Ann Willing Bingham serving as the model who inspired the coin’s portrait. After several drafts, President George Washington and Secretary of State Thomas Jefferson approved the final design, paving way for the production of the new coin designs in late 1795.

Mint Director de Saussure resigned just as production began and was succeeded by stateman Elias Boudinot. Boudinot ordered the Mint to comply with the Coinage Act  silver content requirement of 89.2% fineness.

In 1795, a total of 203, 033 silver dollars were struck but the mintage numbers fell drastically in the following years, largely due to a drop in bullion deposits.

By 1797, production of silver dollars reached its lowest point, with only 7,776 coins minted that year. A notable feature of the 1797 silver dollar is its three die pairings- two obverse dies paired with three reverse designs. The obverse dies display 16 stars, representing the number of states in the Union at the time. One obverse die features nine stars on the left and seven on the right, while the other shows ten on the left and six on the right. In addition, two of the reverse dies have Large Letters while the third has Small Letters.

Although worn examples of the 1797 silver dollar are fairly common, Mint State and About Uncirculated specimens are rare. Its low mintage, combined with the distinctive die pairings make the 1797 Draped Bust dollar a must-have addition to any collection.

Also read: 12 Most Valuable One-Dollar Coin Worth Money

 

Features of the 1797 Silver Dollar

Familiarizing yourself with the features of the 1797 silver dollar will help with authenticating your coin, grading, and identifying valuable varieties. Recognizing these features is one of the most reliable ways to identify Draped Bust dollars worth money.

Obverse of the 1797 Silver Dollar

The obverse features a right-facing Liberty, with part of her hair tied back with a ribbon while the rest flows gracefully. She is dressed in drapey clothing that accentuate her bust.

The word, LIBERTY, is arched above her head while the date, 1797, appears at the bottom. This coin has two obverse design variations: some 1797 silver dollars feature 9 stars on the left side and 7 on the right, while on others there are 10 stars on the left and 6 on the right, representing the number of the states in the Union at the time.

Reverse of the 1797 Silver Dollar

On the reverse, an eagle is perched on clouds with its wings spread wide. A wreath made of wheat and corn leaves encircles the eagle.

The words UNITED STATES OF AMERICA are etched all around the circumference. This side also has two variations—on some coins, the inscriptions are etched in small letters while others appear in larger letters.

Other Features of the 1797 Silver Dollar

Additional features of the 1797 silver dollar include:

• Diameter: 40.00 millimeters
• Weight: 27.00 grams
• Edge: Reeded
• Metal composition: 90% Silver, 10% Copper
• Fineness: 0.892
• AWS: 0.7731oz

Also read: 14 Most Valuable Coins In Circulation

 

1797 Silver Dollar Value Guides

The 1797 silver dollar was produced at the Philadelphia Mint, the only mint at the time. With a production of just 7,776, the 1797 silver dollar had among the lowest mintages in the entire Draped Bust series. So, how much is a 1797 silver dollar worth? The value depends on the coin’s condition. Lower grade examples are fairly plentiful, Mint State pieces are scarce, while gems are genuinely rare.

Here’s a breakdown of the value of 1797 silver dollars:

• Circulated examples: These are fairly common although many are heavily worn; most are ungradable—graded examples are truly scarce. Those graded as Good (G) will sell for as much as $1600 while a Fine (F) example will fetch up to $3,600. An Extremely Fine (XF) example can sell for as much as $10,600 while an About Uncirculated (AU58) will bring in up to $34,500.
• Mint State examples: Uncirculated examples are rare and far between and will fetch high premiums even in lower grades. An MS60 will sell for as much as $58,000 while an MS63 will command up to $120,000. The rare MS65 can sell for $350,000- $400,000 or more.
• Auction record: In 2013, Heritage Auction sold a 1797 9×7 Stars, Large Letters MS62 for a record-breaking $164,500. A rare MS64 10×6 Stars, Large Letters was auctioned for $440, 625 while a 9×7 Stars, Large Letters MS64 sold for $381,875.

 

1797 Silver Dollar Grading

Grading old coins such as the 1797 silver dollars can be challenging as many examples are thoroughly worn. That said, if you come across a gradable coin, pay attention to the details on Liberty’s hair while on the reverse, you should inspect the eagle’s feathers and wreath leaves. Mint luster and the rims are also worth assessing to estimate your coin’s value.

Here are additional tips for grading a Draped Bust silver dollar:

Good (G-4 to G-6)

Liberty’s hair shows little to no detail while the inscriptions, date, and stars are faint. The rims are thoroughly worn but identifiable. On the reverse, the eagle’s image and wreath are flattened with the outline almost non-existent.

Fine (F-12 to F-15)

Details are more visible than in lower grade but there’s still heavy wear on Liberty’s hair, the eagle’s wings and the wreath. The stars and date are still faint but stronger than in lower grades. Parts of the outline on the design elements are visible and although the rim partially blends into the field, its more visible.

Extremely Fine (XF-40 to XF45)

This coin has light to moderate wear with the design elements being sharper than in lower grades. Liberty’s hair strands are more detailed while the stars, inscriptions, and date are crisp. On the reverse, the eagle’s wings and wreath are only slightly worn but generally show most of the details. Protected areas on the obverse and reverse show a bit of mint luster.

Uncirculated (MS-60 to MS-70)

Uncirculated examples show no signs of wear. Design details, including Liberty’s hair strands, stars, date and letters are sharp. The eagle’s wings and wreath show complete details as well. Except for a few contact marks, the coin displays a shiny, brilliant surface with a strong full mint luster.

Also read: Top 10 Most Valuable Morgan Silver Dollar Worth Money

 

Rare 1797 Silver Dollar Errors List

There aren’t many minting errors in the 1797 Draped Bust silver dollar series. But the few existing errors are worth a premium and will make an excellent addition to your collection.

Here are notable minting errors to watch for:

1. 1797 Silver Dollar Double Die Error

A doubled die error occurs when the die strikes the planchet at different angles multiple times. This results in visible doubling on the design and inscriptions on either side of the coin.

The value of this error depends on the doubling intensity—the stronger or more visible the doubling, the more valuable it tends to be.

A doubled die error can add between $20-$100 to the value of your 1797 silver dollar.

2. 1797 Silver Dollar Off-Center Strike Error

An off-center strike error happens due to a misalignment between the die and planchet. This causes the die to strike the planchet further away from the center and more toward the edge, leaving more space on one side.

The value of an off-center strike depends on the percentage of the misalignment. For example, a 20% off-center strike error would be more valuable than a 5% off-center strike.

An off-center strike error can boost your coin’s value by $20-$100 depending on the extent of the misalignment.

3. 1797 Silver Dollar Die Crack Error

A common error in the 1797 silver dollar series is the die crack. This occurs when cracks form on the die’s surface and metal flows into the gaps, forming raised crack lines.

As the die strikes the planchet, it leaves impressions of the crack lines on the surface. A coin might have one or more die cracks, all varying in shape and size. Generally, larger, unique die cracks are more valuable.

A die crack can add $10-$50 to your 1797 silver dollar.

4. 1797 Silver Dollar Die Variations

Some collectors organize their Draped Silver dollar collection based on die variations. When collecting 1797 silver dollars, there are three die varieties to keep in mind:

5. 1797 $1 9×7 Stars, Large Letters

This 1797 silver dollar features 16 stars on the obverse, 9 on the right side and 7 on the left while the reverse features inscriptions in large letters. About 200-500 examples exist, most of them in lower grades. The 1797 “9×7” silver dollars are scarcer than the 1797 ‘Ten by Six.’ In 2013, Heritage Auction sold an MS62 for a record-breaking $164,500.

6. 1797 $1 10×6 Stars, Large Letters

About 500 to 1,400 examples of these silver dollars exist. These coins display ten stars on the left and six on the right, with large letter inscriptions on the reverse. The 1797 ‘Ten by Six’ are the most common of all three varieties but many surviving examples are in lower grades. Heritage Auctions sold a rare MS64 in 2013 for an unprecedented $440, 625.

7. 1797 $1 9×7 Stars, Small Letters

The 1797 9×7 Stars, Small Letters silver dollar is the rarest of the three varieties, with less than 250 examples approximated to exist. In addition to featuring nine stars on the left and seven on the right on the obverse, these coins also display small lettered inscriptions on the reverse. The most expensive example to date is an MS64 sold for $381,875 in 2013 by Heritage Auctions.

 

Where to Sell Your 1797 Silver dollar?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. 

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

FAQs

How can you tell if a 1797 silver dollar is real?

Inspect its features including the design elements and inscriptions. Genuine examples will have strong, balance details, proportionate fonts, and strong details. Check that the features are correct including the diameter (39-40 millimeters), weight (26.90 to 27.00 grams), and reeded edge.

Can you find a 1797 silver dollar today?

Yes, there are surviving examples of 1797 Draped Bust silver dollars although most of them are in collectors’ hands. This coin had a very low mintage and is highly sought-after so it might take a while to find an example, most of which will be ungradable or lower grade.

What is the highest graded 1797 silver dollar?

Mint state examples of the 1707 silver dollars are genuinely rare and only a few are graded. To date, the highest graded surviving examples range between MS63 and M64 with none finer.