The Draped Bust Dollar was the second silver dollar produced minted by the United States from 1795 to 1803. In October 1795, newly appointed Mint Director Elias Boudinot ordered that the legal fineness of 0.892 (89.2%) silver be used for the dollar rather than the unauthorized fineness of 0.900 (90%) silver that had been used since the denomination was first minted in 1794. Due largely to a decrease in the amount of silver deposited at the Philadelphia Mint, coinage of silver dollars declined throughout the latter years of the 18th century. In 1804, coinage of silver dollars was halted; the last date used during regular mint production was 1803. These early year Silver Dollars have come to represent one of the sought-after coins within American numismatics. In 1797, over 7,000 Draped Bust Silver Dollars were struck and only 13 coins have received the AU53 grade from NGC.
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