by | Dec 13, 2023 | Numismatics

Unveiling the Top 5 Rare Coins Every Collector Dreams Of – A Numismatic Odyssey Part 2

by Samantha Stevens

Numismatic Researcher At Scarsdale Coin

2. The 1804 Silver Dollar – The King of American Coins

Dive into the fascinating world of the 1804 Silver Dollar, hailed as the “King of American Coins.” Uncover the intriguing story behind its creation and understand why this coin, despite its misleading date, is one of the most sought-after numismatic treasures. Discover the rarity and historical allure that make it a prized possession for collectors.

The 1804 Silver Dollar, often referred to as the “King of American Coins,” is one of the most famous and valuable coins in the world of numismatics. Despite the date on the coin, no silver dollars were actually struck in 1804. The coins were produced several years later, and they were intended for diplomatic gifts rather than for general circulation.

Here are some key points about the 1804 Silver Dollar:

Production Date: The coins were struck between 1834 and 1835. They were produced as part of a diplomatic mission to be given as gifts to foreign dignitaries, especially those in Asia. The sets included various denominations, but the silver dollars were a notable inclusion.

Design: The 1804 Silver Dollar features a design by Robert Scot, the Chief Engraver of the United States Mint at the time. The obverse (front) of the coin depicts a bust of Liberty with flowing hair, while the reverse (back) features an eagle with a shield.

Rarity: Only a small number of these coins were minted, contributing to their extreme rarity. There are known examples of Class I, II, and III 1804 Silver Dollars. Class I specimens were struck in 1834 for inclusion in diplomatic presentation sets. Class II and III coins were created later for collectors and are considered restrikes.

Notable Examples: The 1804 Silver Dollar gained further fame due to its appearance in auctions and private collections. One of the most famous specimens is the Dexter Specimen, named after its last private owner. The Dexter 1804 Silver Dollar was once owned by a long-time Secretary of the Treasury, James V. Dexter, and it is considered one of the finest examples.

Numismatic Value: The 1804 Silver Dollar is highly coveted by collectors, and its rarity contributes to its extraordinary value. It has set records at various auctions, and some specimens have sold for millions of dollars.

Due to their scarcity and historical significance, the 1804 Silver Dollars are considered numismatic treasures. They are often the centerpiece of coin collections, and their stories add to the allure of these iconic pieces of American coinage history.

Jonathan Lerner Revised

Jon Lerner

Jon Lerner, Scarsdale Coin president, is a recognized expert in the numismatist field. Jon has spent over 30 years collecting and evaluating coins. He is often sought out by fellow coin collectors for his advice and knowledge of rare coins.


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Scarsdale Coin

Jon Lerner, a renowned figure in numismatics, discovered his passion for rare coins in his Scarsdale, New York upbringing. With a keen eye for quality, he founded Scarsdale Coin in 1985, quickly establishing it as a premier destination for collectors. Beyond dealing, Jon is a respected speaker and prolific writer, sharing his expertise with enthusiasts worldwide. His commitment to integrity and professionalism has earned him admiration throughout the numismatic community. Jon remains dedicated to enriching collectors' experiences and preserving the legacy of rare coins for future generations.