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The 1821 Bust Dime, with its distinctive Large Date, is a notable example from the early years of the United States Mint. Struck during the presidency of James Monroe, this coin reflects a period of growth and economic expansion in the United States. The early 19th century was a time of experimentation in coinage design, and the 1821 Bust Dime is a product of these efforts. It was part of the Draped Bust series, which was produced from 1796 to 1807, and later revived in the 1820s under the leadership of Chief Engraver John Reich. This period marked a crucial development in the Mint’s efforts to create standardized and widely accepted coinage for the growing nation.
The design of the 1821 Bust Dime was created by John Reich, whose work is highly regarded in American numismatic history. The obverse of the coin features a portrait of Liberty, facing left, wearing a flowing cap inscribed with the word "LIBERTY." The design is characterized by its detailed rendering of Liberty’s hair, flowing around the face in intricate curls, with the word "LIBERTY" prominently placed across her headband. Surrounding the bust is a circle of stars, with 13 stars on the obverse, representing the original 13 colonies of the United States. The reverse of the coin features a depiction of an eagle, a symbol of the United States, with wings spread wide and a shield on its chest. The eagle grasps an olive branch in one talon and arrows in the other, symbolizing peace and military strength. The reverse also includes the motto "E PLURIBUS UNUM," which translates to "Out of many, one," signifying the union of the states.
The 1821 Bust Dime was minted at the Philadelphia Mint, which was the only mint in operation at the time. The Philadelphia Mint was established in 1792, and it became the primary facility for the production of U.S. coins. The Mint was responsible for producing not only dimes but also a variety of other coins, including half dollars, quarters, and larger denominations. The 1821 Bust Dime, like other coins produced by the Mint during this period, was struck using a copper-based alloy mixed with silver. The silver content in these dimes was approximately 90%, with the remainder made up of copper. This alloy was standard for U.S. coinage at the time and ensured that the coins had durability and were suitable for circulation.
The mintage of the 1821 Bust Dime is relatively low compared to other coins of the period. It is estimated that only around 1.1 million pieces were struck. While this number may seem high by modern standards, it was a relatively small production for the time, reflecting the limited demand for smaller denominations like the dime in a growing economy. Despite the relatively small mintage, the 1821 Bust Dime was widely used in everyday transactions across the United States, serving as an essential part of the currency system. The low mintage, combined with the coin’s age and historical significance, has made the 1821 Bust Dime a desirable piece for collectors.
The condition of the 1821 Bust Dime is a crucial factor in its value, with higher-quality examples fetching much higher prices at auction. In terms of condition, the coin in this case is described as Very Good. In this grade, the details of the design are still recognizable, but the coin shows signs of wear from circulation. The high points of the design, including Liberty’s hair and the eagle’s feathers, are generally worn down, and the fine details of the stars and lettering may be partially obliterated. However, even in this grade, the coin retains enough of its original detail to be identifiable and appreciated by collectors. Coins in this grade are typically affordable for collectors, though those in higher grades, such as Fine or Extremely Fine, are much rarer and command a premium price.
The wear on the coin can also affect the appearance of the surfaces. In a Very Good grade, the coin may have some light scratching or discoloration, but the overall integrity of the coin is still preserved. Coins in lower grades, such as Good, exhibit more extensive wear, with significant flattening of the design elements. These coins are still collectible, but they are often valued at lower prices due to their lack of sharpness in the design. The 1821 Bust Dime in Very Good condition, however, still provides a good balance between affordability and collectability, making it a popular choice for numismatists who appreciate the historical importance of early U.S. coinage.
The 1821 Bust Dime is part of a broader trend in U.S. coinage history, marking the transition from the early years of American coinage to the more refined designs that would characterize later coins. The design of the Bust Dime is considered to be one of the most iconic from the early 19th century, and the 1821 example is particularly notable for its large date, which sets it apart from earlier dimes in the series. The use of stars on the obverse and the eagle on the reverse became hallmarks of U.S. coinage, and these symbols continue to appear on many U.S. coins today. The 1821 Bust Dime is a representation of a pivotal moment in American history when the nation was still developing its identity and solidifying its place in the world economy.
As a historical artifact, the 1821 Bust Dime is not just a piece of currency; it is a symbol of the United States’ early struggles and triumphs. The coin’s design reflects the ideals of liberty, unity, and strength that were central to the nation’s founding. For collectors, the 1821 Bust Dime offers a glimpse into the past, allowing them to hold a tangible piece of history that connects them to the early years of the United States. The coin’s design and its role in the country’s coinage history make it a highly sought-after item for those interested in American numismatics.
In conclusion, the 1821 Bust Dime is a fascinating piece of U.S. coinage history. Its design, minting, and condition all contribute to its status as a desirable item for collectors. Whether in Good, Very Good, or higher grades, the 1821 Bust Dime is a reminder of the early years of the U.S. Mint and the nation’s ongoing efforts to establish a standardized currency system. The coin’s historical significance, combined with its relative rarity in high grades, makes it an important and valuable addition to any collection of early American coins.