An incredibly rare 1804 Class III Draped Bust dollar sold for a massive $3,538,000 during Heritage Auctions’ January FUN U.S. Coins Signature Auction, between January 14 and 17.
CoinWeek reported that the 1804 Adams-Carter specimen was the top lot of the auction, which, according to Heritage Auctions, earned a massive $63,386,877 total. $54,272,176 of that was attributed to their U.S. Coins Signature sale only.
Heritage Auctions reported that “trophies like the famous 1804 dollars are always coveted.” Considering the same Adams-Carter 1804 dollar sold for $2.3 million back in 2009, it shows the validity of their comment. The coin increased in value by around $1.2 million in 16 years.
What makes the 1804 Class III Draped Bust dollar valuable?
The variables in coin collecting (numismatics) are huge. Yet this 1804 Class III Draped Bust dollar had some big driving factors, including:
- There are just 16 known examples.
- This particular coin is one of seven Class III pieces.
- Only four Class III examples exist outside of museum collections.
Another factor driving the coin’s value is past ownership. Popular Science reported that this specific coin had a long and famous chain of ownership across history, including Phineas Adams, Amon G. Carter Sr., Waldo Newcomer, and E.H.R. Green.
This history is another big part of why numismatists treat it like the crown jewel.
As any collector knows, rarity and provenance are superpowers. With coins, condition is also incredibly important, and Heritage Auctions noted this example is graded PR58 by PCGS, which matters because third-party grading is how big money gets comfortable at auction.
Collectors keep showing up
Despite the 1804 dollar taking the headline, the broader FUN U.S. Coins Signature Auction stacked major results across many coins. This showcases the healthy nature of coin collecting today and how many people look at it as an investment.
For anyone with a jar of old coins, a family set, or an inherited box that has not seen daylight in decades, the takeaway is simple:
- Don’t clean anything.
- Don’t guess values.
- Do your research online, or get them looked at by a reputable dealer.
Additionally, keep any old envelopes, notes, or purchase receipts with the coins. The true value might go beyond their condition and rarity, and be in the paperwork you have that goes with them.
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