1803 Silver Dollar Coin Value: How Much Is It Worth Today?

Whether you are collecting Draped Bust silver dollars casually or completing a collection, the 1803 silver dollar will stand out. This was the series’ final issue and was followed by a long hiatus, after which production resumed in 1834.

If you’re curious about the 1803 silver dollar, this guide will help! We’ll walk you through the coin’s fascinating history, explore its key features, and offer expert tips for grading your silver dollar. You’ll also discover some interesting minting errors that can add significant value to your coin.

So, let’s jump in and find out: How much is an 1803 silver dollar worth today?

1803 Silver Dollar Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1803-No Mint Mark Silver Dollar Value	$1,750	$3,000	$6,500	$500,000
1803 Proof Silver Dollar Value	–	–	–	$1,190,652

 

 

History of the 1803 Silver Dollar

The final year of the Draped Bust dollar was 1803, before production resumed in 1834. The Draped Bust dollar, which replaced the Flowing Hair dollar, was first minted in 1795 and proved to be more popular than its predecessor.

The Flowing Hair dollar was the first silver dollar the United States Mint struck after constructing and launching the first ever Mint headquartered in Philadelphia. The Coinage Act of 1792 authorized the production of U.S. coinage and provided that silver coins be struck in 89.2% silver and 10.8% copper. However, the Mint officials did not abide by these requirements and instead struck Flowing Hair dollars in 90% silver and 10% copper, a move that would later be contentious.

The reason for the discontinuation of the Flowing Hair design after only one and a half years remains unknown. What is certain, though, is that the design was not popular with the public, which may have prompted the Mint to replace it.

The Treasury Department appointed a new Mint Director, Henry William de Saussure, in July 1795. De Saussure worked hand in hand with the Chief Mint Engraver, Robert Scot to spearhead the redesign of the silver dollar.

Gilbert Stuart is believed to be the artist behind the Draped Bust design, which he allegedly modelled after Ann Willing Bingham, a socialite from Philadelphia and the wife of statesman William Bingham. Unlike Liberty’s portrait on the Flowing Hair design, the Draped Bust portrait shows a bustier, more mature Lady Liberty adorned in classy, drapey clothing.

Scot and de Saussure approved several of Stuart’s sketches and sent them for the final approval by President George Washington and Secretary of State Thomas Jefferson. After approval was received, production of the new Draped Bust silver dollar began in late 1795. De Saussure, a staunch supporter of the Coinage Act of 1792, resigned in protest of the Mint’s insistence on striking the coins in 90% silver and 10% copper instead of the 89.2% % silver and 10.8% copper authorized by the Act.

De Saussure’s successor, Elias Boudinot, ordered Mint officials to abide by the provisions of the Coinage Act of 1792, ensuring the Draped Bust dollars were struck in 89.2% silver and 10.8% copper. Early production was limited to just a few thousand silver dollars each year, although the mintage rose steadily in 1803, which was also the last year the coins were struck before production was halted in 1804.

The 1803 silver dollar is not considered a key date. But it is an interesting issue given that it is the year before production of the Draped Bust silver dollar was paused and only resumed in 1834. Mint State examples are rare and can be a valuable addition to any collection.

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

 

Features of the 1803 Silver Dollar

Now that you know about the origins of the 1803 silver dollar, let’s explore its standout features. These key features will come in handy when grading and authenticating your silver dollars, as well as identifying Draped Bust dollars worth money.

Here’s what to consider:

Obverse of the 1803 Silver Dollar

The “heads” shows a right-facing portrait of a busty Lady Liberty. Her hair is flowing lightly, and a few strands are held back with a ribbon.

The word LIBERTY appears above her while the date, 1803, is shown at the bottom. Liberty’s profile is encircled by seven stars to the left and six to the right, a total of thirteen stars representing the original states.

Reverse of the 1803 Silver Dollar

The “tails” features a heraldic eagle with a shield on its breast, symbolizing independence and defense. In the eagle’s beak is a flag with the Latin phrase, E PLURIBUS UNUM, which translates to “Out of Many, One.”

The eagle also holds arrows in its left talon and olive branches in its right, representing victory and peace, respectively.

A constellation of thirteen stars, crowned by a billow of clouds, appears above the eagle’s head. UNITED STATES OF AMERICA is inscribed around the coin’s circumference.

Numerous tiny denticles decorate the rim on the obverse and reverse.

Other Features of the 1803 Silver Dollar

Additional notable features of the 1803 silver dollar include:

• Diameter: 40.00 millimeters
• Weight: 27.00 grams
• Edge: Lettered: HUNDRED CENTS ONE DOLLAR OR UNIT
• Metal Composition: 89.2% Silver, 10.8% Copper
• ASW: 0.7731oz
• Fineness: 0.892

Also read: 14 Most Valuable Coins In Circulation

 

1803 Silver Dollar Value Guides

So, how much is an 1803 Draped Bust silver dollar? Factors such as the coin’s condition and rarity will determine its value.

There are two varieties of the 1803 silver dollar:

• 1803 No-Mint mark Silver Dollar
• 1803 Proof Silver Dollar

Let’s look at how much each is worth:

1803 No-Mint mark Silver Dollar Value

The Philadelphia Mint struck about 85,634 silver dollars in 1803, one of the highest mintages in the entire Draped Bust series. Going by the large number of overdate strikes, it is clear that some dies from 1802 and 1802/1 were used to strike the 1803 silver dollars.

Here’s a breakdown of the values:

• Circulated Examples: These are relatively common, with most survivors grading between Fine (F) and Extra Fine (XF). Examples higher up the scale are genuinely rare in circulated condition. Still, the value of an 1803 silver dollar is noticeably high even in lower grades. For example, pieces graded Poor/Average will sell for as much as $1,750 for one graded Good (G). A silver dollar graded Fine (F) is worth an impressive $3,000 while an Extremely Fine (XF) one will command up to $6,500. About Uncirculated examples are extremely rare and worth at least $500,000.
• Mint State Examples: Uncirculated examples are rarer than previous issues and can be genuinely difficult to come by in higher grades. Prices start at $35,000 for a piece graded MS60 and rise steadily to as much as $100,000 for those graded MS63. Gems so rare that survivors are yet to be discovered.
• Auction Record: In 2013, Heritage Auctions sold an MS63+ for a record-breaking price of $117,500. In another sale by Legend Rare Coin Auctions in 2020, a “Large 3” 1803 silver dollar graded MS65 was auctioned for a jaw-dropping $528,750.

1803 Proof Silver Dollar Value

The Philadelphia Mint struck just ten proof Draped Bust silver dollars, but today, there are only four known survivors.

What’s really interesting about these particular coins is that they were not struck in 1803 but are believed to have been produced in the 1870s since the numismatic community only discovered the 1803, 1802, and 1803 proofs sometime in 1876.

Three of the 1803 proof silver dollars are graded PF66, while the fourth is graded PF65. The most expensive example is one of the PF66 survivors, which Heritage Auctions sold in 2012 for a staggering $851,875.

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

 

1803 Silver Dollar Grading

Grading a 1803 silver dollar can be challenging because many survivors are worn or damaged, but the process can be equally rewarding. Grading entails evaluating the coin’s condition, including wear, strike quality, and luster.

Start by examining the high-contact points, which on the obverse include Liberty’s hair strands, especially those around the forehead, her cheeks, and bust. On the reverse, pay attention to the shield, tail and wing feathers, talons, and constellation of stars. Smoothness, weakness, or flatness on these spots points to a lower grade. High-grade examples will show sharper details, clear outlines, and a stronger strike.

Examine the coin’s surface for mint luster and damage. While lower-grade silver dollars will have dull surfaces and some damage, high-grade specimens will boast a shiny surface free of dings, scratches, or blemishes.

 

Rare 1803 Silver Dollar Errors List

Given that early coins, including the 1803 silver dollar, were minted manually, few minting errors are seen on these coins. That said, some die varieties and errors do show up, and these can significantly boost the value of your coins.

Here are a few worthwhile minting errors and varieties to look out for:

1. 1803 Silver Dollar “Large 3” Variety

This is probably one of the most prominent “minting errors” known to collectors of the 1803 silver dollar. More accurately, though, the Large 3 variety is less of a minting error and more of a die variety in which a serif was added to the 3 in the date, making the number appear larger.

The Large 3 variety is scarcer than the Small or Normal 3 variety, with only a few known survivors. In 2013, Heritage Auctions sold one of the survivors graded MS63+ for $117,500.

2. 1803 Silver Dollar Doubled Die Error

Doubling of the inscriptions or design elements can be seen on some 1803 silver dollars. This error occurs when the die strikes the planchet at slightly different positions multiple times, creating a ghost outline on the design or the words on either side of the coin.

Doubling often occurs on the inscriptions LIBERTY on the observe, the date, and the words UNITED STATES OF AMERICA on the reverse. Strong doubling will usually increase the coin’s value by $50-$100, depending on its condition.

3. 1803 Silver Dollar Overdate Error

Many 1803 silver dollars show overdate errors as a result of the Mint reusing 1802 dies to strike 1803 coins.

Sometimes, the Mint may reuse dies that are still deemed to be in good shape, only changing a few details such as a date’s digit or a certain design feature. But the changes are not always thorough, and traces of the old digits might be left on the die, resulting in errors such as the overdates.

In the case of 1803 silver dollars with overdate errors, you will notice traces of the number 2 underneath the number 3 in 1803. These errors are subtle and might need magnification to be noticed, but they do add an element of uniqueness to the coin.

In 2009, a collector paid $4,000 for an 1803 silver dollar graded Extremely Fine (XF) with an 1803/2 overdate error.

4. 1803 Silver Dollar Struck-Through Error

Foreign elements, such as dust particles, specks of metal or wood, a hair strand, grease, or small strings, can accidentally enter the minting hub and get stuck between the die and planchet. When this happens, the object might leave its impression on the coin’s surface, giving it a unique look. Depending on its dramatic or unique nature, a struck-through error can boost your coin’s value by $50-$100.

 

Where to Sell Your 1803 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 much is an 1803 silver dollar coin worth?

The value of a 1803 Draped Silver dollar depends on its condition and scarcity. Circulated survivors are worth between $1,400 to $30,000, but Mint State examples, which are genuinely scarce across all grades, can command prices of $30,000 or more. If you are lucky enough to come across one of the four existing proof silver dollars, it could earn you a large fortune.

Are 1803 silver dollars worth keeping?

Yes, the 1803 silver dollar is worth keeping. These early coins are historically and sentimentally significant but besides that, they are pretty well-struck given the technology used at the time, and survivors are generally nice-looking. What’s more, even lower-grade 1803 silver dollars can be worth good money, increasing their desirability. Whether you want to complete a Draped Bust collection or are collecting casually, the 1803 silver dollar is worth keeping.

Why are 1803 silver dollars rare?

Although the mintage was relatively high at the time, a coin population of about 84,000 1803 silver dollars is quite small. Over the years, many of these silver dollars have been lost, damaged, or melted for their silver content, leaving only a small number of survivors for collectors. So, a combination of age, loss, and damage has contributed to the 1803 silver dollar being scarce.