The 1803 Draped Bust Dollar: Discovering the Rare Small 3 Coin Variety

The 1803 Draped Bust Dollar is one of the most sought-after coins in American numismatics, particularly due to its historical significance and rarity. The coin is part of a series that was minted in the early 19th century, known for its iconic Draped Bust design. However, what makes the 1803 Draped Bust Dollar even more interesting is the variety known as the Small 3—a variation that numismatists and collectors are especially eager to find. This article will explore the history, key features, and the importance of the Small 3 variety, as well as how it differs from other Draped Bust Dollars.

What is the 1803 Draped Bust Dollar?

The 1803 Draped Bust Dollar was part of a series of silver coins minted by the U.S. government from 1795 to 1804. It is called the Draped Bust Dollar due to the design by artist Robert Scott, featuring a woman’s bust (representing Liberty) draped in a flowing gown. This series was designed to showcase the beauty of the nation’s new coinage after the U.S. gained independence.

The 1803 Draped Bust Dollar is not the only year that features this design, but it has certain unique characteristics that make it valuable. The most notable difference is the Small 3 variety, which will be discussed in detail below.

What Makes the Small 3 Unique?

The Small 3 variation refers to the number “3” in the year “1803” on the coin. In the original design, the “3” is small compared to the other numbers in the date. This is a result of a slight change in the engraving process during the minting of these coins.

The distinction between the Small 3 and Large 3 varieties is not always easy to notice, but experienced collectors can identify it by comparing the size of the “3” to the other digits in the year. The Small 3 is rarer and often commands a higher value among collectors.

Key Features of the 1803 Draped Bust Dollar: Small 3

Feature	Details
Obverse Design	Liberty’s bust facing right, draped in a gown.
Reverse Design	An eagle with outstretched wings and a ribbon in its beak.
Year Minted	1803
Mint Mark	No mint mark (minted in Philadelphia).
Diameter	39.8 mm
Weight	26.96 grams
Composition	89.24% silver, 10.75% copper
Small 3 Variety	Small size “3” in the year 1803
Large 3 Variety	Larger “3” in the year 1803

Value of the 1803 Draped Bust Dollar: Small 3

The value of the 1803 Draped Bust Dollar in the Small 3 variety can vary significantly, depending on its condition, rarity, and demand. Coins in better grades (such as MS or AU) can fetch higher prices, sometimes ranging from several thousand dollars to even more for extremely well-preserved examples. The Small 3 is generally more desirable and commands higher auction prices compared to the more common Large 3 variety.

If you’re considering purchasing one, it’s essential to understand the coin’s condition. Here are some general price ranges:

• Good Condition (G-4): $2,000 – $3,000
• Fine Condition (F-12): $4,000 – $6,000
• Extremely Fine (XF-40): $10,000 – $12,000
• Mint State (MS-60 or higher): $30,000 and up

History of Draped Bust Dollars

The Draped Bust Dollar was first introduced in 1795, designed by Robert Scott and modeled after Lady Liberty. The series continued through 1804 and became one of the most important designs in early U.S. coinage. The coin was initially struck in response to the need for large amounts of silver for commerce and trade.

The design was updated in 1807, and the Draped Bust series was eventually replaced by the Gobrecht Dollar in the 1830s. However, the coins minted between 1795 and 1804 remain highly collectible, especially when in good condition or possessing unique features like the Small 3 variety.

Why Collectors Value the 1803 Draped Bust Dollar: Small 3

Numismatists and collectors are drawn to the 1803 Draped Bust Dollar: Small 3 for several reasons:

1. Rarity: The Small 3 variety is significantly rarer than the Large 3 variety. Coins with this unique feature are harder to come by, which makes them more desirable.
2. Historical Significance: The Draped Bust Dollar represents a key moment in the history of U.S. coinage, making it a piece of American history.
3. Condition and Preservation: Coins in high-grade conditions are rare, and collectors are often willing to pay a premium for well-preserved examples.
4. Design: The Draped Bust Dollar has a timeless and elegant design that appeals to both numismatic collectors and history enthusiasts.

Conclusion

The 1803 Draped Bust Dollar: Small 3 is a rare and highly valued coin, prized by collectors for its historical significance and unique features. Whether you are a seasoned numismatist or a new collector, owning a piece of history like the Small 3 can be a great addition to your collection. Always keep in mind the condition and authenticity of the coin when evaluating its worth, as it can significantly affect its price in the marketplace.

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