Q. David Bowers
Business Strikes:
Enabling legislation: Act of April 2, 1792
Designer of obverse: Robert Scot (after Stuart), model by John Eckstein
Designer of reverse: Robert Scot (from the Great Seal)
Weight and composition: 416 grains; .8924 silver, balance copper
Melting value (silver bullion value) in year minted:
Considered by Mint officials to be on a par with the Spanish dollar, and worth about $1.00 intrinsically (see discussion under Summary of Characteristics, 1794).
Dies prepared: Obverse: At least 11; Reverse: At least 16 (includes one die previously mated with a 1798-dated obverse).
Business strike mintage, calendar year: 423,515 (for all varieties of 1799 combined, not including pieces reserved for the Assay Commission; these are given in parentheses); Delivery figures by day:
February 1: 40,195 (+3); February 25: 7,000 (+3); March 14: 51,500 (+3); March 28: 33,100 (+3); April 26: 26,890 (+3); May 23: 11,000 (+3);June 4: 36,500 (+3); June 28: 51,000 (+3); July 17: 32,900 (+3); August 23: 50,000 (+3); August 31: 31,330 (+3); December 6: 52,100 (+3).
Estimated business strike mintage of 1799-dated dollars (author's estimate): 395,000 (rounded).
Estimated quantity melted: Unknown
Approximate population MS-65 or better: 2 to 5 (URS-2)
Approximate population MS-64: 7 to 12 (URS-4)
Approximate population MS-63: 30 to 50 (URS-6)
Approximate population MS-60 to 62: 110 to 200 (URS-8)
Approximate population AU-50 to 58: 300 to 550 (URS-10)
Approximate population VF-20 to EF45: 7,000 to 12,000 (URS-14)
Approximate population G-4 to F-15: 3,250 to 5,250 (URS-13)
Approximate population for all grades combined: 11,000 to 18,000 (URS-15)
CONDITION CENSUS: 65-65-64 (multiples)
AVERAGE AUCTION APPEARANCE GRADE for all varieties combined: VF-27.
Characteristics of striking: Depends upon the variety. If weakly struck, this is often observed at the center of the obverse and among the stars above the eagle on the reverse.
Known hoards of Mint State coins: None
Proofs:
None
Commentary
Many different die varieties exist for 1799, including three with the overdate 1799/8, the curious 15-stars blundered reverse die, and a variety with the obverse stars arranged 8 on the left and 5 on the right, instead of the normal 7x6 configuration.
Additional Information
The Year 1799 in History
On December 14, 1799, George Washington died at Mount Vernon, his Virginia home. Four days later the news reached Philadelphia. In a speech before Congress, Henry Lee described the deceased as "First in war, first in peace, and first in the hearts of his countrymen." Early the following year, speeches, eulogies, and parades were given in Washington's honor, and medallic remembrances were produced, the most famous being the varieties of cent-sized tokens made in copper, white metal, silver, and gold by Jacob Perkins of Newburyport, Massachusetts, and bearing the inscription, HE IS IN GLORY, THE WORLD IN TEARS. The memory of the first president would endure, and as one medal noted, "time increases his fame."
A census conducted by Spanish authorities in lower Louisiana revealed that there were 42,375 inhabitants, two-thirds of whom were of European extraction. The Baltimore American became the first publication to record congressional debates and speeches in detail. In Dalton, Massachusetts, the Crane paper mill was established; it would later furnish sheets for the printing of bank notes and currency.
In England, chemist Humphry Davy inhaled nitrous oxide, or laughing gas, and reported that it made him insensitive to pain; the gas later came into use as an anesthetic. The first British income tax passed Parliament, In Egypt, Champollion discovered the Rosetta Stone, which had been carved with inscriptions in three different languages; when deciphered, it became the key to decoding ancient Egyptian writing.