The Flowing Hair dollars and the Draped Bust dollars of 1794 to 1795 are great rarities. In fact, the Draped Bust dollars of 1796 to 1803 are also quite rare. The total mintage of dollars from 1794 to 1803 was 1,446,196, while the estimated number of survivors is 26,020. That figure represents 1.8 percent of the total mintage.
Because of their rarity, these coins are quite expensive. But do you know why those coins are so rare? When reviewing articles and websites devoted to these coins, you will read about the design and production, mintages, prices and, of course, their rarity. But you will not discover why they are rare. However, if you read the rest of this article, then you will.
Minting the New U.S. Flowing Hair and Draped Bust Silver Dollars
Our story begins with Treasury Secretary Alexander Hamilton. It was in 1791 that he wrote his iconic “Report on the
