1804 Silver Dollar- Price Timeline, Legendary Collections & Record Sales

The 1804 Draped Bust Silver Dollar is widely called the “King of American Coins.”

Although it bears the date 1804, genuine examples were first struck in 1834 as special diplomatic presentation Proofs.

Only a tiny population exists, split into three recognized groups: Class I (the 1834 diplomatic strikes), Class II (a unique plain-edge restrike housed in a national collection), and Class III (later restrikes with edge lettering).

The combination of extreme rarity, storied provenance, and a dramatic backstory keeps demand exceptionally strong.

How Many Exist

Numismatists generally agree there are around 15 known authentic 1804 dollars across the three classes (roughly eight Class I, one Class II, and six Class III).

Because most are permanently held by major collections, very few appear on the market in any given decade.

Record Sales And Market Highs

The auction record for the date is $7.68 million (August 2021) for the Sultan of Muscat Class I specimen in superb Proof condition—an event that cemented the coin’s status at the very top of U.S. numismatics.

Other headline results include the Eliasberg Class I selling for $1.815 million (1997), the Sultan of Muscat realizing $4.14 million (1999), a Class I bringing $3.7375 million (2008), a Class III achieving $2.3 million (2009), and the Dexter specimen selling for $3.29 million (2017).

These milestones show a long-term uptrend driven by rarity, elite pedigrees, and global demand.

What Drives Value Today

• Class & Provenance: Class I examples with famous pedigrees (e.g., Sultan of Muscat, King of Siam, Dexter, Eliasberg) command the highest premiums.
• Condition & Eye Appeal: Proof surfaces, deep mirrors, and exceptional preservation (PR/Cameo designations) dramatically raise price.
• Market Visibility: Features in exhibitions, books, and headline auctions boost collector competition.
• Availability: With roughly 15 known and many institutionally held, supply is so thin that each offering can reset expectations.

Price Timeline & Milestones

A concise timeline of notable public prices for genuine 1804 dollars (various classes and grades):

Year	Specimen / Note	Realization (USD)
1997	Eliasberg (Class I)	$1,815,000
1999	Sultan of Muscat (Class I)	$4,140,000
2008	Class I (Proof)	$3,737,500
2009	Class III	$2,300,000
2017	Dexter (Class I)	$3,290,000
2021	Sultan of Muscat (Class I, top grade)	$7,680,000

Note: Earlier 20th-century sales progressed from the tens of thousands into the hundreds of thousands before breaking the million-dollar barrier in the 1990s.

Collecting Tips And Cautions

• Authenticate Everything: The 1804 dollar is heavily counterfeited. Serious buyers rely on top-tier grading services and provenance research.
• Study Pedigrees: Pedigree chains—Stickney, Mickley, Parmelee/Cohen, Dexter, Eliasberg, Pogue, and others—are crucial to establishing value.
• Understand Classes: Knowing Class I vs. III helps set expectations on price and prestige.
• Budget Realistically: Even lower-tier examples are multi-million-dollar trophies; plan for insurance, security, and professional representation.

The 1804 Silver Dollar blends diplomatic history, ultra-low population, and unrivaled prestige.

With around 15 known and a modern record of $7.68 million, it stands as the ultimate prize in U.S. coin collecting.

Whether you’re studying its price timeline, tracing legendary collections, or following record sales, the story is the same: extreme rarity plus elite provenance equals enduring demand—and the 1804 dollar remains the benchmark trophy that defines the top of the market.

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