The 1802 Draped Bust Large Cent is one of the rarest US coins that has ever been produced. The sheer fact that only a limited number of these pieces are still around today is something that definitely drives up the value. Being that the number of these coins in existence is going to decrease steadily over time, there has never been a better time than now to get your hands on one.
The obverse side of the 1802 Large Cent features in the center the rightward facing bust of Lady Liberty. Towards the bottom of the incredibly detailed image is a drape, which is why the coin is referred to as the draped bust. Above the central image is an inscription which reads “Liberty,” while the 1802 year of minting is indicated towards the bottom. All along the outer edges of the obverse and reverse sides of the Large Cent are 100 raised dots, which give the coin a bit more texture.
On the reverse side of the 1802 Draped Bust Large Cent, the “One Cent” face value indication exists as a raised inscription in the center. Surrounding the face value is a wreath, which is tied together with a bow. Beneath the bow is a raised “1/100” inscription, marking the coin’s value relative to a single dollar. Around the wreath is a raised inscription which reads “United States of America.”
In terms of collectors, there are none who will settle for a Large Cent whose authenticity has not been guaranteed. Because there are so many counterfeits out there nowadays, collectors only desire those Large Cents that have been graded. Below is an outline listing the different coin grades as well as what those grades mean for the appearance of the 1802 Large Cent.
Uncirculated: If a coin is determined to be of Uncirculated grade—and very few 1802 Large Cents have been—this means that the piece spent its entire existence in safekeeping. As such, you will notice absolutely no signs of damage nor wear and tear.
Extremely Fine: A coin determined to be of Extremely Fine grade was likely never circulated, however it is not completely free from damage. In most cases, the damage on these coins will be small and hardly noticeable but it will still be there.
Fine: A coin determined to be of Fine grade is one that was circulated for a period of time, but not so heavily damaged. These pieces will show plenty of signs of wear, from light scratching to the smoothing of the surfaces, however they will still be pretty well-preserved.
Good: Good is the grade given to the absolutely most heavily circulated coins. These coins will show so much wear that some of the raised aspects of the piece will have been worn away partially, if not completely.
In terms of the price you will be asked to pay for an 1802 Draped Bust Large Cent, this is something that will depend entirely on tis condition/grade. To be fair, these coins are pricy regardless of their condition, however the price dramatically increases as the condition improves. Below is a chart aimed at helping you understand what the price of an 1802 Large Cent might be given its grade.
|1802 Draped Bust||$65||$200||$1,000||$1,900||Source: Red Book|