Wikipedia:Today's featured article/May 26, 2012



The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and again throughout the 19th century. The designer is unknown, though the distinction is usually credited to artist Gilbert Stuart. The model is also unknown, though Ann Willing Bingham has been suggested. In October 1795, newly appointed Mint Director Elias Boudinot ordered that the legal fineness of .892 (89.2%) silver be used for the dollar rather than the unauthorized fineness of .900 (90%) silver that had been used since the denomination was first minted in 1794. Due largely to a decrease in the amount of silver deposited at the Philadelphia Mint, coinage of silver dollars declined throughout the end of the 18th century. In 1804, coinage of silver dollars was halted, and officially ended in 1806 by order of Secretary of State James Madison. In 1834, silver dollar production was temporarily restarted to supply a diplomatic mission to Asia with a special set of proof coins. Officials mistakenly believed that dollars had last been minted with the date 1804, prompting them to use that date rather than the date in which the coins were actually struck. A limited number of 1804 dollars were struck by the Mint in later years, and they remain rare and valuable. (more...)

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