The 1797 Draped Bust Half Dollar stands as one of the most legendary treasures in American coin collecting. This stunning silver piece, featuring the rare Small Eagle reverse, has stunned experts by selling for as much as $1.68 million at auction. If you love rare coins or dream of finding hidden wealth, this guide breaks everything down in simple words. Discover its history, why it’s so valuable, and tips to spot a real one – all optimized for easy reading and top search rankings.
What Is the 1797 Draped Bust Half Dollar?
The 1797 Draped Bust Half Dollar was one of the first half dollars ever made by the United States Mint. Created in 1797, it shows Lady Liberty on the front with flowing hair and a draped gown. The back features a tiny eagle – that’s why collectors call it the “Small Eagle” design.
This coin came out just years after the U.S. started making its own money. Only a handful were produced, making it super scarce today. Most coins from that era got worn out or melted down, so finding one in good shape is like winning the lottery.
Key Features of the Coin
- Front (Obverse): Lady Liberty facing right, with “LIBERTY” above and the year “1797” below.
- Back (Reverse): A small eagle holding a shield, surrounded by a wreath and stars.
- Metal: 89.24% silver and 10.76% copper.
- Weight: About 13.48 grams.
- Diameter: 32.5 mm – roughly the size of a modern half dollar.
Why Is the 1797 Draped Bust Half Dollar So Rare?
Rarity drives the huge value of the 1797 Draped Bust Half Dollar. Experts believe the Mint struck fewer than 3,000 pieces that year. Many were lost, damaged, or recycled for new coins. Today, only around 100 to 150 examples survive, and most are in poor condition.
The Small Eagle design lasted just two years (1796-1797) before switching to a larger heraldic eagle. This short run makes the 1797 version a holy grail for collectors.
Top Reasons for Its Sky-High Value
- Extreme Scarcity: Fewer surviving coins than many other historic pieces.
- Historical Importance: One of the earliest U.S. silver coins.
- Condition Matters: High-grade examples (like MS-65 or better) fetch millions.
- Auction Records: A top specimen sold for $1.68 million in 2015.
- Collector Demand: Numismatists (coin experts) compete fiercely for them.
Famous Sales and Record Prices
The 1797 Draped Bust Half Dollar has shattered records at auctions. Here’s a quick table of standout sales:
| Year Sold | Grade (Condition) | Sale Price | Auction House | Notes |
|---|---|---|---|---|
| 2015 | MS-66+ | $1.68 Million | Heritage Auctions | Finest known example; stunning details. |
| 2013 | MS-65 | $1.41 Million | Stack’s Bowers | Near-perfect strike. |
| 2008 | AU-58 | $632,500 | Goldberg Auctions | Well-preserved for its age. |
| 2022 | VF-30 | $228,000 | Heritage Auctions | Mid-grade but still rare. |
| 1999 | Good-4 | $74,750 | Superior Galleries | Even low-grade sells big. |
These prices show how condition boosts value. A coin graded “Mint State” (MS) means it looks almost new – no wear from use.
How to Identify a Genuine 1797 Draped Bust Half Dollar
Fake coins flood the market, so learn these tips to avoid scams:
Step-by-Step Authentication Guide
- Check the Date: Look for “1797” clearly stamped below Liberty’s bust.
- Examine the Eagle: It must be small, perched on clouds, with a wreath below.
- Weigh and Measure: Use a scale – it should weigh close to 13.48 grams.
- Test the Metal: Real ones are silver; use a magnet (silver isn’t magnetic).
- Get Professional Grading: Send to PCGS or NGC for certification.
Common fakes alter dates on other coins or use counterfeit dies. Always buy from trusted dealers.
Investment Potential: Is It Worth Collecting?
Yes! The 1797 Draped Bust Half Dollar has soared in value over decades. In the 1980s, a fine example cost under $100,000. Today, even average ones start at $50,000+.
Pros and Cons of Investing
- Pros: Proven price growth; tangible history; hedges against inflation.
- Cons: High entry cost; needs secure storage; market can fluctuate.
Experts predict continued rises due to shrinking supply and growing interest in early American coins.
Fun Facts About This Legendary Coin
- George Washington approved the Draped Bust design.
- The artist was Gilbert Stuart, famous for Washington’s portrait.
- No proof coins exist from 1797 – all are business strikes.
- It’s part of the “King of Coins” series for half dollars.
Where to Buy or Sell Your 1797 Draped Bust Half Dollar
Start with major auction houses like Heritage, Stack’s Bowers, or Sotheby’s. Online platforms like eBay work for lower grades, but verify sellers. Join coin clubs or attend shows for networking.
For selling, get it graded first – it can double your payout.
The 1797 Draped Bust Half Dollar isn’t just money; it’s a piece of America’s birth. With values up to $1.68 million, it captivates collectors worldwide. Whether you’re a beginner or pro, understanding its rarity and history unlocks its magic. Hunt wisely, and you might own a slice of numismatic gold!