A Review of the Three Design Types of Early Silver Dollars

The types of early silver dollars offer opportunities and frustrations for type collectors. The opportunities lie in the fact none of the types are rare. There are always examples of these coins available for purchase, and most of the coins have at least VF sharpness.

The frustration is that they have become quite expensive. It is hard to find any of these coins for less than $1,000 unless they have significant problems. Another concern is counterfeiting. The Chinese have reproduced these coins, sometimes with errors that obvious to the experienced collector, but deceptive for the beginner. That means that certification is recommended if you don’t know these coins well, unless you can find an expert dealer that you trust.

Let’s take a look at the three types.

Flowing Hair, 1794-5



The Flowing Hair dollars were the first silver coins that the first United States Mint issued after it fully opened its operations in February 1793. The production of these coins was delayed until key members of the mint staff were able to post bonds that allowed them to handle gold and silver.

The design, which is credited to Robert Scot, features a bust of Ms. Liberty that was inspired by the Liberty Cap design that appeared on the early half cents and large cents. It's a similar Ms. Liberty without the cap. The reverse features a skinny eagle that I have compared to a pterodactyl or winged dinosaur.

These coins were issued for part of the year in 1794 and 1795. The 1794 dollars are one of the most desirable coins in the U.S. series because they were the first U.S. Government made silver dollars. The mintage was 1,758 pieces. Roughly 150 of them survive today. According to the Grey Sheet, prices start at $55,000 for one in Good - 4.

In addition, many of these coins were poorly struck. The problem was the mint employees were trying to strike these coins on a press that built to make large cents. The machine simply could not exert enough pressure to impart the design on the coins, unless a special effort was made. The coin shown below is in an EF-40 holder, but much of the detail is missing because of the strike.



The strike and price issues make the 1795 Flowing Hair Dollar the best option for virtually all type collectors in my opinion. Dave Bowers estimated that there are between 4,000 and 7,600 examples of the 1795 Flowing Hair Dollars surviving for collectors. The 1795 dated piece shown at the top of this section is graded EF-40. Finding one that is much sharper than that example will involve a major investment. As it is, that piece is worth 5 figures or very close to it.

Draped Bust, Small Eagle, 1795 - 8



In the fall of 1795, Robert Scot upgraded the appearance of the silver dollar with his draped bust design. Ms. Liberty was more elegantly dressed and her hair was beautifully coiffured with a bow in back of her head. Many collectors admire this design. The eagle, on the reverse, appears to be a fledging emerging into the world the world, much like the young United States.

According to Dave Bowers, this design is a little scarcer than the Flowing Hair Dollars with an estimated surviving population of 3,080 to 4,140 pieces. I have found that higher grade examples with more design detail are easier to find, however. The coin above is graded AU-53.

Draped Bust, Heraldic Eagle, 1798 - 1804



In 1798, Robert Scot combined the Heraldic Eagle design with his Draped Bust motif. The design was based upon one side of the Great Seal of the United States. Both sides of the Great Seal appear on the modern one dollar bill.

This is by far the most common of the three early dollar designs. Dave Bowers estimated that there are 35,250 to 55,400 pieces still available. These coins are often available in VF condition although many pieces have been cleaned or dipped. The most common date is the 1799 dollar followed by the 1800 pieces.

What I have provided here is just a brief outline. I could have gone further, but I would prefer to answer your questions. Go ahead an pose them, and I will try my best to give you some (I hope) interesting answers.

 

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I always thought of the first two as the "Funky Chicken" reverse.

 

Thanks very much. An interesting bit of coin history.

 

Nice coins. I have always had a special love of the Flowing hair design since it was from the start of the mint, same with the skinny chicken reverse, but I believe an objective observer would believe the draped bust/heraldic eagle is the prettiest design.

 

Wasn't out "national bird" a turkey at some point?

Maybe the mint designers didn't get the message . . . . . . .

Z

 

Ben Franklin wanted the turkey to be the national bird. I can understand why it was rejected. Who wants to eat the national bird on Thanksgiving?

 

The wild turkey is much different from the domesticated birds that are dumb as a bag of hammers. Apparently, the stories about domesticated turkeys staring up in a rain storm and drowning themselves are true. According the hunters, they are a smart game bird that is not easy to bag.

Franklin preferred the wild turkey because he viewed the eagle as a dishonorable bird that sometimes fed on carrion. It probably didn’t help the bird’s image in Franklin’s mind that some of the despotic regimes in Europe used the eagle as part of their national symbolism.

 

Very nice dollars. I hope to get one someday, but that’ll probably be quite awhile from now.

And while we’re on the topic of turkey intelligence, I believe that they can also get stuck in corners, so sometimes it’s best to keep them in rounded cages (or at least that’s what my dad told me based on his experiences from growing up on a farm).