Q. David Bowers
Mintage
Class I: 8 to 10 or more
Class II: 5 or more made
Class III: 6 or more made
Numismatic Information
Three classes of 1804 dollars: Dollars dated 1804 can be divided into three classes, per Eric P. Newman and Kenneth E. Bressett:
1804 Class I, years ago often called "original." Lettered edge. Eight known, Proofs. Issue of circa November 1834 and possibly a few years before and/ or after that time. Produced openly, and with no intent to deceive.
1804, Class II, years ago sometimes called the "first restrike." Plain edge. Made secretly in 1858 by workmen at the Mint. Possibly unique. Now in the Mint Collection at the Smithsonian.
1804 Class III, years ago called "second restrike."
Lettered edge (edge lettered after striking). Six known. Made secretly at the Mint, perhaps all c. 1858, but with edges lettered at the Mint years later in the late 1860s or early 1870s. Kenneth E. Bressett's current thinking is reflected in this commentary: (Letter to the author, December 22, 1992.)
There is some possibility that the 1804 Class III dollars were edge lettered as early as 1869, but I tend to think they were made around 1875, along with the 1801-2-3 Proofs, and all released about the same time (1876), mostly through dealer J.W. Haseltine.
First Mentioned in the 1840s
Although the Mint Director's Report listed 19,570 dollars having been struck in 1804, no collectors had heard of the existence of an 1804-dated dollar until in 1842 Jacob R. Eckfeldt and William E. DuBois, of the Philadelphia Mint, caused to have published A Manual of Gold and Silver Coins of All Nations, Struck Within the Past Century. Shown on one of the plates was a United States silver dollar dated 1804, but with no accompanying commentary.
On May 9, 1843, Matthew A. Stickney, a prominent collector from Boston, came to the Philadelphia Mint and obtained for his cabinet an 1804 dollar by exchanging a 1785-dated IMMUNE COLUMBIA piece in gold.
During the 1840s numismatics was in its infancy in America, and probably no more than a dozen or two numismatists collected silver dollars by date, and even this estimate may be on the high side. Apparently, Stickney told others of his acquisition, and during the next 20 years a number of collectors acquired 1804 dollars by trade, or, more likely, private purchase either directly or indirectly from Mint officials.
Creation of the 1804 Class I Dollars
The fame of the 1804 dollar grew, and by the late nineteenth century is was the most written-about and discussed of all United States coins. Many were the theories of how they were minted and distributed.
In 1962 Eric P. Newman and Kenneth E. Bressett completed The Fantastic 1804 Dollar, a book which compiled earlier printed information on the coin and, using new insights and research methodology, unraveled the mystery of this famous issue. R.W. Julian has contributed much to the disclosure of the circumstances under which the 1804-dated dollars were struck, and Walter H. Breen and Don Taxay have been valuable contributors to knowledge as well.
It seems that in 1831 or shortly thereafter, the Mint contemplated making new silver dollars for circulation. In anticipation of this, some specimen coins dated 1804 were made from dies which employed old punches. There was no intent to deceive, just to provide examples of the silver dollar denomination for congressional consideration and study purposes.
In 1834 and 1835 the United States Mint desired to prepare specimen Proof sets of United States coins for presentation to certain foreign dignitaries, royalty, and others. During these years no regular silver issues were being made. In fact, none had been made since 1803-dated coinage. The Mint records were checked and it was found that 19,570 silver dollars were minted in 1804. In 1834 and 1835 it apparently was not realized that these pieces were dated 1803, so it was reasonable to assume that the last-minted American silver dollar bore the date 1804.