💰 1803 Draped Bust Silver Dollar (Small 3): The $845,000 Rarity Redefining Early U.S. Coinage

How a Tiny Numeral Turned This Coin Into a Numismatic Treasure

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🏛️ Historical Significance

The 1803 Draped Bust Silver Dollar is a crown jewel of early American coinage, minted during Thomas Jefferson’s presidency and the Louisiana Purchase era. Among its varieties, the “Small 3” stands out as one of the rarest and most valuable early dollars, with mint-state examples selling for nearly $1 million. Only 150–200 total 1803 dollars survive today, and the Small 3 variety accounts for a fraction of that.

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🔍 Design & Key Identifiers

• Designer: Robert Scot, Chief Engraver of the U.S. Mint.
• Obverse: Draped Bust of Liberty with flowing hair, surrounded by 13 stars.
• Reverse: Heraldic eagle clutching arrows and an olive branch.
• Key Feature: The “Small 3” in the date, lacking the upper serif seen in the “Large 3” variety.
  • Small 3 vs. Large 3: The Small 3’s top bar is flat, while the Large 3 has a distinct upward flick.
• Composition: 89.2% silver, 10.8% copper.
• Weight: 26.96 grams (0.773 oz of silver).

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💎 Why the “Small 3” Commands Premiums

Variety	Key Identifier	Survival Estimate	Value Range
Small 3	Flat-top “3” with no upper serif	30–50 known	10,000–10,000–845,000+
Large 3	“3” with upward serif	100–150 known	5,000–5,000–250,000

Recent Sales:

• $845,000: 1803 Small 3 graded PCGS MS-64 (Heritage Auctions, 2021).
• $192,000: Small 3 in PCGS AU-55 (Stack’s Bowers, 2023).

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📜 The Mystery of the Small 3

The Small 3 variety likely originated from a repaired or reworked die at the Philadelphia Mint. Numismatists theorize that the original “3” punch broke, leading to a cruder, smaller numeral being used. This error was quickly corrected, making Small 3 examples exceptionally rare.

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⚠️ Authentication Tips

1. Date Examination: Use a 10x loupe to confirm the Small 3’s flat top.
2. Weight & Magnet Test: Must weigh ~26.96g and be non-magnetic.
3. Edge Lettering: Authentic coins have “HUNDRED CENTS ONE DOLLAR OR UNIT” on the edge.
4. Die Varieties: Match to known Small 3 examples using Bowers-Borckardt reference numbers.

Red Flags:

• Tooling Marks: Counterfeits often show filed edges or artificial toning.
• Mismatched Surfaces: Genuine coins have natural, granular wear from the early 19th century.

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📈 Market Outlook & Collector Demand

• Circulated (VG-F): 10,000–10,000–50,000.
• Extremely Fine (XF-40): 75,000–75,000–150,000.
• Mint State (MS-60+): 250,000–250,000–1M+.

Why It’s Coveted:

• Historical Pedigree: Represents America’s expansionist era and early monetary struggles.
• Registry Sets: Needed by elite collectors to complete Draped Bust dollar collections.

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🛠️ How to Sell Your 1803 Dollar

1. Grading is Mandatory: Submit to PCGS or NGC (300–300–500 fee for high-value coins).
2. Auction Strategy:
   • Heritage Auctions: For coins graded MS-60 or higher.
   • Stack’s Bowers: Specializes in early U.S. rarities.
3. Avoid Pitfalls:
   • Private Sales: Use escrow services for transactions over $100,000.
   • Fraud Prevention: Verify buyers through the Professional Numismatists Guild (PNG).

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📚 Learn More on PennyVerse.info

• Free Guide: Download our “Early U.S. Dollar Checklist”.
• Expert Help: Post photos in our Forum for free evaluations.

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#CoinCollecting #DrapedBust #RareCoins
💬 Own a piece of early America? Our community will help you unlock its legacy—no myths, just history.

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PS: That “1803 dollar in your drawer”? 99.99% fake. For the 0.01% chance, contact PCGS/NGC – you might join the $845,000 club! 🏆