The 1804 silver dollar, often called the “King of American Coins”, is America’s most legendary coin. Remarkably, none were minted in 1804—they were struck decades later yet bear that date.
Just 15 known specimens exist today, with recent auction sales surging between $2 million and nearly $8 million, making it the most prized U.S. collectible.
Muted Minting & Diplomatic Gifting
- No 1804 production: Official mint records show 19,570 silver dollars struck in March 1804, but these were all dated 1803. No 1804-dated specimens were produced that year.
- 1834 diplomatic issue: U.S. State Department commissioned silver dollars dated 1804 for diplomatic gift sets. These were struck in 1834 and 1835 but carry the earlier date to complete early coinage representation.
The Classes of 1804 Dollars
| Class | Description | Known Specimens |
|---|---|---|
| Class I | Genuine diplomatic strikes with edge lettering (“HUNDRED CENTS…”) in 1834–1835 sets | 8 specimens |
| Class II | Plain-edge restrikes from 1858 (no edge lettering); only 1 known (Smithsonian) | 1 known |
| Class III | Castaing‑lettered restrikes after Class II, sometimes struck around 1859–1876 | 6 specimens |
Total known: 15 confirmed.
Record-Breaking Auction Prices
- 1997: Eliasberg Class I specimen sold for $1.815 million.
- 1999: PCGS Proof-68 Class I realization: $4.14 million.
- 2009: Class III specimens sold for $2.3 million.
- 2021: Top Class I example reached $7.68 million.
Estimates range from $2 million to $7+ million, depending on class and grade.
Why the 1804 Dollar Rules
- Mythic rarity: Only 15 known, with specific provenance across classes.
- Historical allure: Diplomatic purpose, secretive restrikes, and lavish presentation all add drama.
- Collector demand: Coins owned by presidents, Eliasberg, and museums bolster its prestige.
- Record highs: Its auction history cements it as top-tier American coinage.
1804 Dollar Summary
| Feature | Detail |
|---|---|
| Actual minting | 1834–1835, dated 1804 |
| Edge lettering | Class I & III: yes; Class II: plain |
| Known surviving | 8 (Class I), 1 (Class II), 6 (Class III); total = 15 |
| Weight / Composition | 26.96 g; 90% silver, 10% copper |
| Size | 38–40 mm diameter |
| Auction range | $2M–$8M (Class I), $2M+ (Class III) |
Authenticity & Identification
- Edge inspection: Class I & III have proper Castaing lettering; Class II are plain.
- Die and design traits: Each of the 15 has unique die markers identified in registry books.
- Provenance matters: Collectors prize familial chains and registry placement.
- Certification: PCGS/NGC graded slabs with pedigree sustain value.
Ambiguously dated, ultra-rare, and historically rich, the 1804 dollar reigns supreme in American numismatics. Its blend of diplomatic origin, secret restrikes, and legendary scarcity makes it a seven-figure centerpiece in elite collections. Revered as the “King of American Coins,” its legacy lives on, enthralling collectors and commanding top dollar worldwide.
FAQs
Q1: How many authentic 1804 silver dollars exist?
There are 15 known specimens: 8 Class I, 1 Class II, and 6 Class III.
Q2: Why aren’t any genuine 1804-dated coins from 1804?
They were struck in 1834–35 for diplomatic gifts; none were struck in 1804 despite the date.
Q3: Why are values so high?
Their extreme rarity (15), historical mystery, and consistent multi-million dollar auction sales create unmatched demand and prestige.
