The 1798 Draped Bust Dime is an incredible piece of U.S. history, especially the rare “8 Over 7” variety with 16 stars. This dime stands out not only because of its age but also due to its unique characteristics. If you’re a coin collector or just someone interested in history, this coin is a valuable artifact that offers insight into the early days of the U.S. Mint. In this article, we will explore what makes the 1798 Draped Bust Dime so special, its rarity, and its value in today’s market.
History of the Draped Bust Dime
The Draped Bust design was used on U.S. coins between 1796 and 1807. It features a portrait of Lady Liberty with flowing hair, known as the “Draped Bust,” on the front (or obverse) of the coin. The reverse of the coin displays an eagle, which was a common symbol of the United States at that time.
The U.S. Mint introduced this design to give the country’s coins a more refined and professional appearance. The Draped Bust dime was first minted in 1796, and the series continued for a short period, ending in 1807.
Why the 1798 Dime is Special
The 1798 Draped Bust Dime is particularly interesting for collectors because of the “8 Over 7” variety. This error occurred when a 1797 die (the tool used to strike the coin) was reused for the 1798 dimes. Instead of starting fresh, the mint altered the existing die, placing an 8 over the 7. This creates a visible overlap, known as the “8 Over 7” variety. Coins like these are extremely rare and sought after by collectors due to the minting error.
Another unique feature of the 1798 Draped Bust Dime is the 16 stars on the obverse. This was in honor of the 16 states in the Union at that time.
Value of the 1798 Draped Bust Dime
The 1798 Draped Bust Dime is considered highly valuable among numismatists (coin collectors). Its value depends on factors like its condition, rarity, and demand. Coins that are in better condition and have clear features, such as the “8 Over 7” variety, are especially valuable. A typical 1798 Draped Bust Dime can range from several hundred dollars in poor condition to thousands in top condition.
Factors That Affect the Value
- Condition: The condition, or “grade,” of the coin is a major factor. Coins in higher grades with minimal wear are worth more.
- Rarity: The “8 Over 7” variety is rarer than standard 1798 dimes, making it more valuable.
- Historical significance: Coins from the early U.S. Mint, especially those with unique features or errors, are highly sought after by collectors.
1798 Draped Bust Dime Table
| Feature | Description |
|---|---|
| Year of Minting | 1798 |
| Mint Location | Philadelphia (No Mintmark) |
| Variety | 8 Over 7 |
| Total Mintage | Unknown (low mintage estimated) |
| Designer | Robert Scot |
| Composition | 89.24% Silver, 10.76% Copper |
| Diameter | 19 mm |
| Weight | 2.7 grams |
| Obverse Design | Draped Bust of Liberty with 16 stars |
| Reverse Design | Small eagle with open wings |
| Estimated Value (depending on condition) | $1,000 – $30,000 |
Collecting the 1798 Draped Bust Dime
If you’re looking to add a 1798 Draped Bust Dime to your collection, there are a few things to keep in mind. First, since this coin is rare, it’s important to buy from trusted sources such as professional coin dealers or well-known auction houses. This ensures that the coin is authentic. Second, consider getting the coin graded by a professional grading service. This will not only verify the coin’s authenticity but also provide an official grade, which can help in determining its value.
Where to Find Authentic 1798 Draped Bust Dimes
Collectors can find the 1798 Draped Bust Dime through auctions, coin shows, or from professional dealers. Be cautious when purchasing online or from unknown sources, as counterfeit coins do exist. Look for reputable platforms or dealers with a solid reputation in numismatics.
Conclusion
The 1798 Draped Bust Dime, especially the rare “8 Over 7” variety with 16 stars, is more than just a coin; it is a treasured piece of early American history. For coin collectors, owning one of these dimes represents not only a financial investment but also a connection to the past. The value of this coin can vary widely depending on its condition and rarity, but its historical significance makes it a prized possession. If you are a collector or just interested in U.S. Mint history, the 1798 Draped Bust Dime is a fascinating and valuable coin to explore.
FAQ’s
What makes the 1798 Draped Bust Dime with “8 Over 7” variety so rare?
This variety is rare due to the minting error, where an 8 was struck over a 7 on the coin. These kinds of errors make the coin more valuable.
How much is a 1798 Draped Bust Dime worth?
The value ranges from $1,000 to $30,000 depending on its condition and whether it has the “8 Over 7” variety.
Why does the 1798 Draped Bust Dime have 16 stars?
The 16 stars represent the 16 states that were part of the Union in 1798.
Can I still find a 1798 Draped Bust Dime in good condition?
While they are rare, it is still possible to find 1798 Draped Bust Dimes in decent condition. However, the “8 Over 7” variety is much harder to find in high grades.
How do I verify if my 1798 Draped Bust Dime is authentic?
You can have your coin evaluated by a professional grading service or an experienced coin dealer to confirm its authenticity and value.