Draped Bust Cent (1796 – 1807)

#1 Draped Bust Cent Buyer Las Vegas & Henderson

History of Draped Bust Large Cents

The Congress responded to the almost nationwide dissatisfaction of the first coins (Flowing Hair large cent) and decreed a new design in 1796. All denominations bore the same design as it was the custom at that time, so by Congressional decree, certain features were required to all denominations, and these are: the eagle, the word LIBERTY, stars, and the word UNITED STATES OF AMERICA. The denomination of the coin wasn’t really considered necessary for the value can be discerned through the size of the coin that is based on the precious metal content. Thus, making the half dime or half cent the smallest value coin.

In the closing years of the 18th century, the large cent coins became very important. These large copper coins were useful for very small transactions in the open market, unlike the wide variety of foreign coins in circulation. Yet the Mint suffered a few problems during these years. Its ability to create dies and procure quality copper for these essential coins were hampered by inadequate machinery, inexperienced employees and lack of funds. The frequent epidemics of yellow fever caused a problem too in creating these coins. That’s why the cost to produce a coin is more than its face value. Though these failure could be reasonable due to it being new to this field, the Congress on several occasions almost gave up on the business of making coins and considered turning the matter over to private companies.

However, Robert Scot redesigned the large cent coin. Draped Bust Large Cent which was the next in line of designs. It replaced the Liberty Cap large cent in the mid-1796. Scot’s design was modeled after a drawing by artist Gilbert Stuart, which depicts Lady Liberty with flowing hair, a ribbon behind her head and drapery at her neckline.

The obverse design features a youthful Liberty, with her flowing hair cascading down her shoulder. She wears a decorative headband ribbon tied at the back, and her shoulders and neckline are loosely draped with rippled cloth. The word LIBERTY is inscribed on top of the portrait and the date of when it was minted is inscribed below.

The reverse features two laurel branches pointing upwards and was tied with a ribbon forming a circular pattern. Between these laurel branches is the word ONE CENT inscribed. At the top, near around the rim are the words UNITED STATES OF AMERICA struck in a semi-circle fashion, and at the bottom middle is the denomination 1/100, which is the value of the large cent.

Draped Bust large cent was minted from 1796 to 1807, this coin was far more minted, being the first large cent to go over one million minted in a single year, in 1798, again in 1800, 1801, 1802, and 1803.

What is a Draped Bust Large Cent

The Draped Bust Large Cent is another variety of one cent, or large cent. Draped Bust large cent replaced the Liberty Cap large cent in the mid-1796. It was designed by Robert Scot and was minted from 1796 to 1807.

The obverse of this large cent features Lady Liberty with her smoother flowing hair, with a headband ribbon tied behind her head. Her shoulders and neck are draped with rippled cloth. The word LIBERTY is struck on top of the bust and the date is inscribed below it.

The reverse design is similar with the previous Liberty Cap large cent that features the words UNITED STATES OF AMERICA inscribed near the edges or the rim of the coin. These words surround the two laurel branches that is fashioned like a wreath. The laurel branches are tied by a ribbon and the word ONE CENT is inscribed in the middle of this wreath. The denomination of 1/100, the value of the coin, is inscribed below.

Composition and Specifications of Draped Bust Large Cents

The Draped Bust Cent represented the first series for the denomination to be struck on somewhat standardized planchets, although some variety can still be noted. Weighing in at 10.87 grams (168 grains), this coin weighed more than the previous large cents, with a diameter of 29mm. They are struck out of pure copper. All have a plain edge and a rim which consists of dentils, as it had been introduced in 1794 for all the coins to be minted in this same way.

These are the three conditional factors that determine the value of a Draped Bust Large Cent coins and they are: Red (RD), RB (Red-Brown), BN (Brown). A RD coin is going to have at least 90% original luster as struck by the mint and is the most valuable condition. The luster conditions only apply to mint state coins so any circulated coin will be designated BN.

Specifications of Draped Bust Large Cent:
Designer: Robert Scot, with contributions by John Smith Gardner and Adam Eckfeldt
Circulation Mintage: high 1,405,000 (1837), low 70,000 (1838-O)
Proof Mintage:none known
Denomination: $0.01 One cent (01/100)
Diameter: ±29 mm; plain edge. An 1797 variety has a gripped edge (an irregular incuse pattern).
Metal content: 100% copper
Weight: ±10.89 grams
Varieties: Extensively studied, many known, including 1796 Reverse of 1794, Reverse of 1795, and Reverse of 1796; 1796 LIHERTY, from a rotated and repunched B; 1797 Gripped Edge, Stems, and Stemless; 1798/7; 1798 Reverse of 1796 and Style 1 and Style 2 Hair; 1799/8; 1800/1798 and 1800/79; 1801 1/000 and 100/000 (wrong and corrected fractions); 1802 1/000; 1802 Stemless; 1803 Small and Large Date, and Small and Large Fraction; 1803 100/000 and Stemless; 1807/6 Small 1807 and Large 1807; 1807 Small Fraction and Large Fraction; 1804 Private Restrike, from dies discarded by the Mint; and numerous other minor die variations.

How We Grade Draped Bust Large Cents

These are the different grades of Draped Bust Large Cent:

  • Uncirculated: These are the coins that never made it out onto the open market. They normally have a brand new look or same as how it looked like when it was first minted way back in 1796.
  • Extremely Fine: These coins look the same as uncirculated but it has few minor scratches and chips. These imperfections are noticeable but nothing so large that it will detract from the appearance of the coin.
  • Fine: These coins were likely been circulated for over a long period of time. They have scratches and chips but the letters and numbers on the surface image can still be seen by the naked eye.
  • Good: These are the coins that have been heavily circulated and damaged. The letters and numbers worn away due to deep scratching and smoothing. Most good graded coins are in the worst condition.

We prefer coins that have been graded and certified as authentic by Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC), though we will still give a fair deal for these coins.

Price Quote for Draped Bust Large Cent

We have different estimated prices for 1796 to 1797 Draped Bust large cent, 1798, and 1799 to 1807 Draped Bust large cent coins.

For the 1796 to 1797 Draped Bust large cents, the price for Good graded coins reach up to $250; for the Fine graded coins, it can reach up to $900; while the Extremely Fine graded coins reach up to $6,000; and for the Uncirculated graded coins, it can reach up to $12,500.

The 1798 Draped Bust large cents price for Good graded coins reaches up to $130; for the Fine graded coins, the prices can reach up to $550; while the price for Extremely Fine graded coins can range up to $7,500; and the Uncirculated graded coins reaches up to $14,000.

For the 1799 to 1807 Draped Bust large cents, the price for Good graded coins can reach up to $60; for the Fine graded coins, it can reach up to $180; while the Extremely Fine graded coins reaches up to $1,200; and for the Uncirculated graded coins, it can reach up to $2,300.

Uncirculated coins price higher than the other grades because it has never been used or circulated in the open market, and it looks brand new with no imperfections or scratches.

The 1796 to 1798 Draped Bust large cent coins price higher than those in 1799 to 1807 Draped Bust large cent coins because of their rarity. But those coins that has the pure red color can price higher for they are the rarest coins that has ever been minted by the Philadelphia mint.

As you can see, we buy Draped Bust large cents of 1796 to 1807. We will buy your coins no matter the grade and the condition. So, if you have Draped Bust large cent coins, sell it to us and we will give you a good deal for your coins. Contact us now!

 

References: