1807 Draped Bust dime: A Closer Look at the Final Draped Bust Issue

The 1807 Draped Bust dime is one of the most historically significant small silver coins in American numismatics – not despite its relatively high mintage, but because of what it represents: the final chapter of a short-lived, artistically rich series that helped define early U.S. coinage. With 165,000 pieces struck at the Philadelphia Mint, it closed out the Draped Bust era before the Capped Bust design took over in 1809. For collectors building type sets or hunting pre-1810 silver, this coin punches well above its weight.

Unlike the dime values guide covering broader dime history, this article zeroes in on the 1807 specifically – its diagnostics, die varieties, grading traps, and current market performance. Whether you are evaluating a raw coin at an estate sale or bidding at auction, understanding what separates a problem-free 1807 from a cleaned or weakly struck example can mean the difference between a $500 purchase and a $5,000 one.

Historical Background: The 1807 Draped Bust Dime as a Series Closer

The Draped Bust dime series ran from 1796 to 1807 – eleven years, with several gaps in the date sequence. No dimes were dated 1799 or 1806, a result of die exhaustion and the Mint’s practice of continuing to use dies from prior years until they failed. The 1807 is the last issue, struck during a period of growing economic confidence in the young republic.

The design itself traces back to Thomas Jefferson’s 1783 push for a decimal-based American currency, later formalized through Alexander Hamilton’s monetary framework. Chief Engraver Robert Scot executed the obverse portrait, adapting a likeness attributed to artist Gilbert Stuart – possibly inspired by Philadelphia socialite Ann Willing Bingham – showing Liberty with a draped bust, hair drawn back, and thirteen stars flanking the figure. The reverse evolved from a small eagle design (used only in 1796-1797) to the Heraldic Eagle that appears on all 1807 examples, modeled after the Great Seal of the United States.

Production of Draped Bust dimes ended after 1807 partly because the U.S. economy had matured past its reliance on Spanish real coins, which had filled fractional monetary gaps for decades. The Capped Bust dime replaced this design in 1809, and the Draped Bust series was never revived. That makes the 1807 the definitive endpoint – a natural collecting target for anyone assembling a complete type set of early American silver.

Design Specifications of the 1807 Draped Bust Dime

The obverse carries the Draped Bust of Liberty facing right, with seven stars to the left and six to the right, “LIBERTY” arcing above, and “1807” below the bust. Liberty’s curls and drapery folds are the primary diagnostic features in higher grades – in well-struck examples, individual hair strands and fabric creases remain distinct even at EF40.

The reverse shows a Heraldic Eagle with outstretched wings, a shield on its breast, arrows in the left talon, and an olive branch in the right. “UNITED STATES OF AMERICA” circles the design, with “1 0/10” at the bottom – there is no word “DIME” on the coin, as the thin edge left no room for it. The edge itself is reeded, a deliberate anti-clipping measure.

Composition is 89.24% silver and 10.76% copper, slightly less pure than the 90% silver standard adopted later. Actual silver content runs about 2.47 grams per coin. At today’s silver spot price of $83 per ounce, the melt value sits around $2. Every dollar above that is numismatic premium – and for the 1807, that premium runs from a few hundred dollars to six figures depending on condition.

For a deeper look at how silver content varies across American dimes through history, which dimes contain silver is worth reading before you evaluate any pre-clad coinage.

Types and Die Varieties of the 1807 Draped Bust Dime

All 1807 dimes belong to Type 2 of the Draped Bust series – the Heraldic Eagle reverse, used from 1798 onward. There are no Type 1 Small Eagle examples from 1807. No proof strikes are known.

Within the 1807 date, die varieties are catalogued primarily by die state rather than major design differences. Early die states show bolder stars and crisper eagle feathers; later states exhibit softening from wear, and some show die cracks running from Liberty’s eye toward the rim. These cracked-die examples carry a 20-50% premium in EF and above grades because they are identifiable, documentable, and appeal to variety collectors.

Adjustment marks deserve special attention. These are flat, linear file marks left when Mint workers trimmed overweight planchets before striking. They appear frequently on early U.S. silver and are considered a period characteristic rather than post-mint damage – but they still reduce value. A coin with prominent adjustment marks across Liberty’s cheek may grade VF30 on design wear but trade like a VF20 in practice.

Grading the 1807 Draped Bust Dime: What to Look For

Grading early U.S. silver is not the same as grading a 20th-century coin. Hand-operated screw presses produced inconsistent strikes, and 200+ years of circulation, cleaning, and storage have left most survivors with at least one problem.

1807 Draped Bust Dime Values and Market Pricing

With silver at $83 per ounce, melt value is negligible relative to numismatic demand. The 1807’s market is driven entirely by collector interest, grade, and surface quality. Values have risen roughly 10-15% annually since 2020, fueled by type set demand and broader precious metals enthusiasm.

The MS tier is where the 1807 shows its true rarity. Despite 165,000 pieces struck, fewer than 100 Mint State examples have been graded across PCGS and NGC combined. The survival rate in gem condition is under 0.1%. CAC-approved examples – those that have passed an additional quality review – command a further 20% or more above standard certified prices.

For collectors entering the series on a budget, the VF-EF range offers the best value proposition. A problem-free EF40 at $3,000-$6,000 gives you a fully attributable, visually impressive example of the series’ final year without the six-figure commitment of a Mint State coin.

PCGS & NGC Coin Verification – Accurate Precious Metals Refineries

how silver dimes are weighed and identified is a useful reference if you are new to evaluating early silver coinage and want to understand what physical characteristics matter before grading.

Common Misconceptions About the 1807 Draped Bust Dime

Several myths follow this coin around, and they cost collectors money.

High mintage means it is common in all grades. It does not. Over 99% of the original 165,000 were spent, melted, or worn beyond recognition. The coin is widely available in heavily circulated grades but genuinely scarce in EF and above.

No varieties exist for 1807. Die states and cracked dies are real and documentable. Novice collectors frequently overlook them, which means variety-aware buyers can sometimes find undervalued pieces.

The 1807 dime has the same silver content as later 90% silver dimes. It does not. The fineness is 89.24%, slightly lower than the post-1837 standard. The weight is also marginally different from modern silver dimes.

Because no 1806 dimes exist, the 1807 must be rare. The 1807 is not rare in low grades. The absence of an 1806 date reflects Mint die practices, not a shortage of 1807 production.

Modern counterfeits are a serious threat. They are not common for this series, but basic testing – weight, magnetism, specific gravity – is still worth performing on any raw example before purchase.

Collector Strategies: Building Around the 1807 Draped Bust Dime

For type set builders, the 1807 is the most accessible way to represent the Heraldic Eagle reverse of the Draped Bust series. Pairing it with a 1796 or 1797 Small Eagle dime covers the entire design history of the series in two coins – a compelling presentation for any early American silver collection.

Registry set competition has intensified demand for MS63 and above examples. If you are targeting those grades, work with major auction houses and buy only slabbed PCGS or NGC examples. For circulated grades, regional shows and dealer inventory can surface good values, but always examine surfaces carefully.

Storage matters for long-term preservation. Keep certified coins in their slabs, raw coins in inert holders, and store everything in a cool, dry environment with humidity below 40%. Early silver is sensitive to sulfur compounds in the air – improper storage can introduce toning that reduces value even on otherwise original coins.

The 1807 Draped Bust Dime in the Broader Dime Collecting Context

The Draped Bust series sits at the beginning of a long, rich collecting market. After 1807, the Capped Bust dime ran through 1837, followed by the Seated Liberty, Barber, Mercury, and Roosevelt designs. Each transition marked a shift in American identity and Mint technology.

America’s first silver coin – the 1792 Half Disme – predates the Draped Bust series and gives important context to where the dime denomination came from. Understanding that lineage makes the 1807 more than just a coin – it becomes a chapter in the story of American money.

The Mercury dime collection from 1916-1945 represents a later era of silver dime collecting that many collectors pursue alongside early type coins. The contrast between a hand-struck 1807 and a machine-produced 1916-D Mercury dime illustrates how dramatically Mint technology evolved in just over a century.

Selling an 1807 Draped Bust Dime: What to Expect

If you own an 1807 dime and are considering selling, the grade and surface quality will determine everything. A heavily worn, cleaned example in AG03 will bring a few hundred dollars. A problem-free EF40 can bring $4,000-$6,000. An MS example, if you are fortunate enough to own one, belongs at a major auction house.

For coins in the low-to-mid circulated range, working with a knowledgeable dealer is often faster and more practical than auction consignment. Accurate Precious Metals buys early U.S. silver coins, numismatic pieces, and bullion in all conditions. If you are local to Salem, Oregon, bring the coin in for an in-person evaluation – the team can assess it on the spot. If you are anywhere else in the United States, the mail-in service is a straightforward option: request a kit, ship with free insured delivery, and receive a professional assessment and fast payment.

Accurate Precious Metals has been operating for over 12 years and has earned more than 1,000 five-star reviews from customers across the country. As an NGC Authorized Dealer, the team is equipped to evaluate numismatic coins with the expertise this kind of early silver demands. Whether you are selling a single 1807 dime or an entire early American silver collection, reach out to sell your coins through either channel.

Where to Buy or Evaluate an 1807 Draped Bust Dime

Accurate Precious Metals at AccuratePMR.com is the recommended starting point for collectors and investors looking to add early American silver to their holdings. The inventory spans gold, silver, platinum, and palladium in coin, bar, and bullion form, with competitive pricing updated against live spot prices. For collectors interested in using numismatic silver as part of a retirement strategy, Gold and Silver IRA services are available as well.

The physical location in Salem, Oregon offers in-person service for local customers. Nationwide buyers can shop online or call (503) 400-5608 for assistance. With insured shipping across the United States and a transparent buying and selling process, Accurate Precious Metals handles early U.S. coins with the care and expertise they deserve.

Frequently Asked Questions

Sources

1. CoinWeek – Draped Bust Dime Collector's Guide
2. NGC Coin Grading Guide – Grading Draped Bust Dimes
3. Stack's Bowers – Draped Bust Dime Type 2 Heraldic Eagle
4. PCGS Price Guide – Draped Bust Dime
5. ParaDime Coins – Draped Bust Dime Reference
6. Land of Coins – Draped Bust Dime Values