1801 BB-301 Proof Restrike Draped Bust Silver Dollar

Value of 1801 “Proof Restrike” Draped Bust Silver Dollar

History: No Proof dollars were struck in 1801. Generations later in the 1870s it is thought that certain Mint officials created these by combining dies made much later than 1804. Technically they are not “restrikes” as no originals were made. The proper term is novodels, a coin made later than the date indicated for which no originals of that date exist from the same dies. Over the years, the term restrike has been applied to the Proof dollars dated 1801, 1802, and 1803. However, restrike implies that originals were made, usually from the same dies, and in the instance of the 1801-2-3 Proofs, there never were original counterparts. These Proofs are believed to have been made in the 1870s, using a closed collar and beaded border process not used at the Mint during the 1801-1804 era, and were struck from newly-made dies. The reverse die was made in or about 1834 for use in making the first run of 1804-dated dollars (known as Class I today). A study of die characteristics shows that this die was first used to make Class I 1804-dated dollars, then 1802 Proofs, then 1803 Proofs, and finally 1801 Proofs. The obverse was made in the 1870s. The 1801, 1802, and 1803 dollars first appeared on the market in 1876. The weight ranges from close to 420 grains to slightly higher.
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Draped Bust $1 coins are rare in most grades. These coins are known for their beautiful design and attention to detail. If you have one of these coins, please contact one of our local coin experts to have your rare coin appraised. We offer free rare coin appraisals and would love to buy your coin. Our rare coin price guide should give you all the information you need, but if you need more information, don’t hesitate to reach out to our team of rare coin experts.