1797 Silver Dollar - 1797 $1 9x7 Small Letters PCGS XF45. BB-72, B-2, R-4. This early date, rare variety 1797 Silver Dollar has pleasing light gray toning with hints of lavender. The colors attest to the coins originality. Bits of original mint luster peak out from within the devices. Despite a weak strike, which is typical, and a couple of minor light stains, the coin is appealing and wholesome. The surfaces are clean for the grade with no abrasion marks that are worthy of individual description. The obverse shows very bold dentils, while the reverse is shallow in comparison to the obverse. It is clear that on the reverse die part of each dentil was ground away, which also is a cause of the shallow reverse relief.
 
In his Silver Dollars Encyclopedia, David Bowers says of the 1797 BB-72 dollar, Of all 1797 varieties, the BB-72 is at once the rarest, best known, and most sought after. This issue occupies its own niche in numismatic literature, where it has been showcased as a rarity in some instances and ignored in others. Doubtless, it is the best known die variety of the 1796-1797 years combined. Indeed, it may well be the most famous variety after 1794 and before 1804.
 
The Draped Bust, Small Eagle silver dollar was made from 1795 to 1798. The design shows a draped bust of Liberty in profile facing right with her hair tied with a ribbon. Above is the word LIBERTY, and below is the date with stars on both sides of the periphery. The portrait, taken from a drawing by the famous artist Gilbert Stuart, is of Ann Bingham. John Eckstein translated this drawing to models for Engraver Robert Scot. Evidently Eckstein lost many of the nuances, which might explain why Stuarts family would not acknowledge his role in the coinage design. Dentils are near the edge on both sides of the coin. The edge is lettered HUNDRED CENTS ONE DOLLAR OR UNIT with ornamentation between the words. For the first three years of the Draped Bust dollar, the small eagle reverse similar to the prior design was used. It shows a small, unrealistic eagle poised to fly standing on a rock. Around the eagle is a wreath of laurel on the left and palm on the right. A ribbon ties the ends of the wreath together. The inscription UNITED STATES OF AMERICA encircles the design.

Thomas Jefferson chose Robert Scot to be the first Chief Engraver of the United States Mint on November 23, 1793. During the Revolution, he had been an engraver of paper money. His ability to make dies was limited, and he was advanced in years with failing eyesight. His work was poorer in quality than that done in Europe at the time, and Scot was criticized for it.

The Mint Director, Henry William DeSaussure, wished to place gold coinage in circulation and to improve the design of the other denominations especially silver. This desire is the reason he engaged Gilbert Stuart to submit a drawing for the new dollar obverse. In 1795 DeSaussure resigned his position because of illness and hostility from Congress. Many of the lawmakers wanted to abolish the Mint and continue the practice of using copper coins made at British token factories and foreign silver and gold coins. Elias Boudinot became the Mint Director after DeSaussure.

Scot was born in 1744 in Edinburgh, Scotland or England. (Documentary evidence is lacking as to where he was born.)  He was trained as a watchmaker in England and learned engraving afterwards. He moved to the United States in 1777, where he worked as an engraver of plates, bills of exchange, and office scales. During the Revolution, he was an engraver of paper money. In 1780 he was made the State Engraver of Virginia. He moved to Philadelphia the next year. He was appointed Chief Engraver of the United States Mint on November 23, 1793 by David Rittenhouse, Mint Director. His salary in 1795 was $1,200 per year. The Mint Director received only $800 dollars per year more. Scots ability to make dies was limited, and in his advanced years he had failing eyesight. His work was somewhat less than that done in Europe at the time, and Scot was criticized for its poor quality. He was responsible for designs of most of Americas first coins. These include the Flowing Hair and the Draped Bust motifs used on early silver coins and the Capped Bust gold coins. Scot also designed the 1794-1797 half-cent, the 1800-1808 draped bust half-cent, and the Thomas Jefferson Indian Peace Medal. He died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

The early Mint in Philadelphia had many challenges. Conditions were poor even at times chaotic. Each of the specialists, the designers, engravers, and press operators were men who had previously worked in other fields. Coin manufacturing was a new trade for them. Production was sporadic. For the new Mint to coin each of the mandated denominations, it took four years. This delay was partly because of inexperience and governmental obstacles. Bonds that were unrealistically high were impediments to engravers working with precious metals. Congress was not united on the need for a government mint since private and foreign coinage seemed to work. Because of the non-existent or low production numbers in the early years of the Mint, foreign copper, silver and gold circulated along with American made coins for many years until they were later demonetized.

Record keeping in the Mints early years was fairly inaccurate. At the end of the eighteenth century Philadelphia had recovered from the British occupation and Revolutionary War. It was the second largest city in the English-speaking world, but it could do nothing to protect its citizens from the mosquito-borne epidemic of yellow fever. Its wealthy citizens went to the countryside to escape, and the poor grimly waited their fate. Of course these annual epidemics caused havoc with all manufacturing that required continuity, such as a coinage sequence. The Mint shut operations during the late summer and early fall every year. In addition to yellow fever, disorder at the Mint was also caused by chronic bullion shortages and coin dies that would wear out and had to be re-engraved because they were not taken out of production until they failed completely. Often dies were locked up and later taken out of storage without great attention and care. There was also a jealous Chief Engraver, Robert Scot, who was in his seventies and had failing eyesight.  

Bowers points out that nearly all known BB-72 dollars are in grades VG to XF, with VF being most often seen. In its population report, PCGS shows 2 1797 BB-72 silver dollars in XF45 condition with 3 better.