1801 Draped Bust Silver Dollar $1 PCGS MS61

Long recognized as a date that just doesn't present itself well. This 1801 specimen is well struck and solid for the grade. In its population report, there is only 1 MS61. When more collectors begin to focus on die varieties of these early dollars, high grade, scarce pieces such as the present coin will substantially increase in value.

This impressive Draped Bust silver dollar has Sufficient detail is found on the hair above the forehead, the hair over the ear, and the lines of the drapery to support the grade. The strike is especially strong, especially on the stars above the eagle, which are often weak. For the grade, the surfaces are particularly clean and pleasing.

The coin was designed by Robert Scot, whom Thomas Jefferson chose to be the first Chief Engraver of the United States Mint on November 23, 1793. Scott 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 he was advanced in years with 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 sliver coins, and the gold quarter eagle, half eagle and eagle. Scot also designed the 1794-1797 half cent, the 1800-1808 draped bust half cent, and the Thomas Jefferson Indian Peace Medal. Scot died on November 1, 1823 and was succeeded by William Kneass as Chief Engraver.

Researchers have questioned Scots placement of the arrows and olive branch in the wrong talons on the reverse of this type, which was taken from The Great Seal of the United States. They should have been reversed with the olive branch in the eagles right claw. Perhaps Scot was told to change the symbolism because the United States was engaged with France in an undeclared naval war at the time this coin was designed. This symbolism could have been used to make a statement to France and others about the sovereignty of the United States.

This specimen is identified as a BB-211. The obverse of this die pairing has the distance from the 1 in the date to the curl about the same as the distance from the top of the Y to star 8. It is the Wide Date variety with the most space between 180 and 01 closer together. The reverse has the arrowhead under the U in UNITED, which is diagnostic for the variety because the reverse die was used to strike BB-211 only. The point of the star almost touches the point of the lower part of the eagles beak.