1820 Capped Bust Dime Is a Hidden Gem for Collectors – In the world of rare U.S. coins, even a single design change can create a monumental difference in value and desirability. One such example is the 1820 Capped Bust Dime — No Drapery, which recently sold at auction for an impressive $456,000. This coin may not carry the same jaw-dropping price tag as its ultra-rare 1822 counterpart, but it remains one of the most important early dimes in American numismatics.
The story behind this dime is more than just about rarity or condition — it’s a tale of artistic evolution, minting practices, and how subtle changes in design can create distinct varieties that collectors are willing to pay top dollar for.
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The Evolution of the Capped Bust Dime
The Capped Bust Dime was introduced in 1809 and produced until 1837. Designed by John Reich, then Assistant Engraver at the U.S. Mint, the series features a left-facing portrait of Liberty wearing a cap and a flowing gown on the obverse, with a small eagle encircled by stars and rays (later modified) on the reverse.
Also Read: Could You Own an 1822 Capped Bust Dime Worth Big Money?
Over time, the design underwent several minor revisions — some so subtle they’re only recognizable to experienced numismatists. One such variation occurred in 1820, when Mint engravers made adjustments to the drapery around Liberty’s neckline. This led to two distinct types: the “No Drapery” variety and the more common “With Drapery” version.
The No Drapery type is considered the earlier of the two and is far rarer, making it highly coveted among specialists and advanced collectors.
Why the “No Drapery” Variety Stands Out
The distinguishing feature of the 1820 Capped Bust Dime – No Drapery lies in the absence of fabric folds near Liberty’s shoulder and neckline. In later strikes, additional drapery details were added to enhance realism and refine the overall appearance of the design.
These subtle design tweaks were part of the ongoing effort by the U.S. Mint to improve coinage aesthetics during its formative years. But while seemingly minor to the untrained eye, these variations have become crucial markers for identifying die varieties — and for commanding premium prices in today’s market.
Collectors who specialize in early American coinage view the No Drapery dime as a key transitional piece in the evolution of the Capped Bust series.
What Makes This Coin So Valuable?
While the mintage of the 1820 dime was relatively low compared to later decades, exact figures are unavailable due to incomplete U.S. Mint records from that period. However, experts estimate that fewer than 100 high-grade examples of the No Drapery variety exist today.
The example that sold for $456,000 was graded MS-65 by the Professional Coin Grading Service (PCGS), indicating a coin in superb mint state condition with strong luster, minimal contact marks, and sharp strike detail. Coins of this caliber from the early 19th century are exceptionally rare, especially those that have survived without significant wear or damage.
Several factors contribute to the coin’s high value:
1. Rarity
The No Drapery variety is significantly scarcer than the With Drapery version, especially in high grades.
2. Historical Significance
This dime was struck during the post-War of 1812 era, a time of economic growth and national identity formation in the United States.
3. Condition Rarity
Preserved in mint state, this example represents one of the finest known specimens, enhancing its appeal to elite collectors.
4. Demand Among Specialists
Advanced collectors who focus on die varieties, early U.S. silver, or the Capped Bust series are often willing to pay a premium for such a historically rich and visually appealing coin.
A Piece of American History
Beyond its monetary value, the 1820 No Drapery Capped Bust Dime serves as a tangible link to America’s past. Struck during the presidency of James Monroe, this coin circulated during a time when the young republic was still defining itself economically and politically.
Also Read: The 10 Most Valuable Capped Bust Dimes Ever Sold
Coins like this played a role in everyday commerce, yet few survived the test of time — especially in pristine condition. Those that did offer modern collectors a rare glimpse into the craftsmanship and challenges of early American minting operations.
Market Trends and Collector Appeal
The sale of the 1820 No Drapery Dime for nearly half a million dollars reflects a growing trend in the numismatic market: increasing demand for high-quality, early U.S. coins. As more collectors move beyond mainstream rarities and delve into specialized areas like die varieties and transitional issues, previously underappreciated coins are gaining new recognition — and value.
Auction results over the past decade show steady appreciation for top-tier early dimes. While the 1822 Capped Bust Dime remains the most valuable, coins like the 1820 No Drapery are becoming increasingly sought after by connoisseurs looking to complete high-level sets or own a piece of numismatic history.
Could You Own One?
Finding an 1820 No Drapery Dime in your pocket change is virtually impossible — unless you’re sifting through a well-worn collection passed down through generations. Most surviving examples are held in private collections, museums, or institutional holdings.
However, if you have any early 19th-century U.S. coins tucked away in a drawer or inherited box, it’s worth having them examined by a professional numismatist. Even if it’s not the elusive No Drapery variety, there could be other underrated rarities waiting to be discovered.
FAQs
What is the 1820 Capped Bust Dime (No Drapery)?
It’s a rare early U.S. dime with a distinct design variation showing no fabric folds near Liberty’s neckline.
How much did it sell for?
A high-grade example sold at auction for $456,000.
Why is it so rare?
The “No Drapery” variety was only used briefly in 1820 and very few examples survive today.
How can I tell if I have one?
Look for the absence of drapery near Liberty’s shoulder; expert grading or authentication is recommended.
Who designed the Capped Bust Dime?
It was designed by John Reich, Assistant Engraver at the U.S. Mint.
