Silver Dollars were an immensely useful general circulation coin produced by the United States Mint for more than 140 years and today are one of the most popular types of U.S. coins among collectors. Bust Silver Dollars were among the first minted and were only produced for a short time. This relatively small mintage means very few of these fascinating coins survived to be included in contemporary collections.
Even then, the coins that endured the centuries to make it to today’s numismatics market typically survive in relatively poor condition at best. Collectors always seek well-preserved coins for their collections; when it comes to the Bust Silver Dollar, however, that is no simple feat.
The Value of a Bust Silver Dollar
In any condition, one can expect to pay a large premium for the honor of possessing a Bust Silver Dollar. These are so extremely rare coins that collectors vie to get their hands on them in any condition. The value of Silver Dollars produced toward the end of the 1800s and into the 20th century depends much more on the coin’s condition than it does when considering Bust Silver Dollars. Generally speaking, you can expect to pay anywhere from a few hundred dollars to several thousand dollars for a Bust Silver Dollar.
It is important to remember that this is still a coin, so although scarcity lessens the importance of condition to the value of a Bust Silver Dollar, it is always something looked at by collectors. If you come across a Bust Silver Dollar graded Uncirculated or Extremely Fine, you can expect to pay no less than $2,000. The auction price of Bust Silver Dollars has gone much, much higher in certain circumstances.
Coveted Bust Silver Dollars
To be perfectly frank, the most coveted Bust Silver Dollar is every Bust Silver Dollar. The confluence of these coins being so old, having been produced in such limited quantities and being incredibly difficult to find today makes each individual coin enormously precious. The 1794 Bust Silver Dollar, the first such coin produced, is by far the most sought-after version of this coin. They are essentially impossible to find and will run to five figures even in extremely poor condition.
A basic tenet of collecting is the older the coin, the rarer and more desirable it will be. As the mintage years on Bust Dollars transition from the 1790s to the early 1800s, the average price of the coin decreases noticeably. Regardless of year, however, Uncirculated and Extremely Fine varieties of Bust Silver Dollars command premiums over $10,000. Possession of a Bust Silver Dollar is typically limited to extremely serious collectors who have the ability to dedicate great resources to building their collection.
Projected Value of Bust Silver Dollars
Bust Silver Dollars bear a high price tag from the start, so it is difficult to imagine how certain examples of this coin could possibly be any more expensive. In reality, however, the value of these coins can do nothing other than increase. These precious coins are already incredibly rare and expensive. The likelihood of any new Bust Silver Dollars coming to light or being placed on the market shrinks with every passing year. This scarcity can only drive the average asking price upward. Now is the time to act if you mean to add a prized Bust Silver Dollar to your collection. We have no way of predicting how many of these coins will remain on the market in 10 years, or even two. Act now to own a remarkable piece of American history.