1804 Silver Dollar Tops $1.4M at Auction, Anti-Counterfeiting Seminar Empowers Agencies, Award Nominations Sought

Known as “The King of American Coins,” an 1804 United States Draped Bust dollar certified by Professional Coin Grading Service as PCGS PR55 sold for $1,440,000 by Stack’s Bowers Galleries on March 20, 2020.

- Joshua McMorrow-Hernandez

The Class III 1804 silver dollar was from the estate of the prominent late collector D. Brent Pogue. It previously had been part of a dozen other significant collections, including those of the Garrett family and Johns Hopkins University in Baltimore. The buyer is Blake Duncan of Houston-based U.S. Coins, who bought the coin for a client who wishes to remain anonymous.

“The 1804 dollars are well-known for their rarity and historical significance among collectors as well as many non-collectors,” PCGS President Brett Charville remarked. “Even with virtually no bidders physically present on the auction floor and the sudden economic uncertainty – things nobody could have predicted just a few weeks earlier – the outstanding sale of this 1804 Draped Bust dollar unequivocally demonstrates that collectible coins graded by PCGS have perennial value, security, and liquidity.”

Adding to the uniqueness of the coin is that it was struck between 1859 and the 1870s, according to researchers, even though it is dated 1804. Also, there are only 15 known genuine 1804 U.S. dollars, and just six of them are Class III examples. One of the six is part of the National Numismatic Collection at the Smithsonian Institution in Washington, D.C.

The 1804 Draped Bust dollar first gained prominence after a handful of Class I examples was included in exclusive coin sets given to heads of state as diplomatic gifts on behalf of President Andrew Jackson during the 1830s.

Turn to page 56 of this issue to learn more about the outcome of the Stack’s Bowers March auction.