The 1796 Draped Bust Dime is more than just a coin—it’s a piece of early American history. As the first regular-issue dime ever minted by the United States, it’s extremely rare and highly valuable today. With its detailed design, limited mintage, and fascinating backstory, it’s a top prize for collectors around the world.
Key Features at a Glance
| Feature | Details |
|---|---|
| Designer | Robert Scot |
| Composition | 89.24% silver, 10.76% copper |
| Weight | 2.69 grams (41.51 grains) |
| Diameter | 19 mm |
| Edge | Reeded |
| Mintage | Around 22,135 |
| Reverse Type | Small Eagle (used only in 1796 and 1797) |
History and Design
The 1796 Draped Bust Dime was born during the early years of the U.S. Mint, under the Coinage Act of 1792. It marked the first time the U.S. produced dimes as part of a national decimal currency system.
➤ Obverse (Front)
The front shows Lady Liberty with flowing hair and a draped bust, surrounded by 13 stars—one for each original colony. The date “1796” is shown below her.
➤ Reverse (Back)
The reverse displays a small eagle perched on a cloud, surrounded by a simple wreath and the words “UNITED STATES OF AMERICA.” This design is known as the Small Eagle reverse, used only for the years 1796 and 1797.
Die Varieties (JR-1 to JR-6)
There are six known die combinations, referred to as JR-1 through JR-6. These tiny differences—like the placement of stars or spacing in the lettering—can increase the value of a specific coin, especially to advanced collectors.
Rarity and Value
Out of the original 22,135 coins made, experts believe only 800 to 1,200 survive today—most of them are well-worn. Finding a Mint State (MS) version is incredibly rare and can fetch a fortune.
Estimated Values by Grade:
| Grade | Estimated Value |
|---|---|
| Good (G) | $1,000–$2,000 |
| Very Fine (VF) | $10,000–$15,000 |
| Extremely Fine (EF) | $40,000–$60,000 |
| About Uncirculated (AU) | $100,000+ |
| Mint State (MS) | $235,000–$881,250 |
Notable Auction Records
- $881,250 – A PCGS MS68 example sold in 2014
- $372,000 – A PCGS MS66+ sold in 2023
These records show just how much demand there is for high-grade examples of this historic dime.
Conclusion
The 1796 Draped Bust Dime is more than just a rare coin—it’s a symbol of the early days of U.S. coinage. Its elegant design, limited mintage, and historical importance make it a true treasure. Whether you’re a beginner or a seasoned numismatist, learning about and collecting this coin is a rewarding experience and a tangible link to America’s past.
FAQ’s
Why is the 1796 Draped Bust Dime so special?
It was the first dime ever minted in the U.S. and has a very low surviving population, making it extremely rare and valuable.
How many of these dimes still exist today?
Experts estimate only 800 to 1,200 examples are still around in any condition.
What’s the most someone has paid for one?
A Mint State (MS68) example sold for a record $881,250 in 2014.
