In a landmark move towards economic reform, New York set a precedent in abolishing the imprisonment for debt, catalyzing a domino effect as numerous other states swiftly adopted this more humane approach to financial insolvency. By ending the punitive practice of incarcerating individuals for failing to pay minor debts—often a consequence of creditors leveraging warrants against them—the New York Legislature initiated a significant shift towards compassionate economic policy. This reform not only liberated countless individuals from the dire circumstances of debtors' prisons but also reflected an evolving understanding of justice and economic fairness in the early 19th century.
1831 was also a year of political innovation, as evidenced by the Anti-Masonic party hosting the first presidential nominating convention in American history. This pioneering event, which saw the nomination of William Wirt, a former attorney general, as the party's candidate, marked a transformative moment in the American electoral process. The convention introduced a structured method for political parties to formally select and endorse candidates for the presidency, thereby laying the groundwork for modern political campaigning and the institutionalization of party politics in the United States.
Additionally, the year witnessed a technological breakthrough with the debut journey of the John Bull, America's first steam-powered railroad engine, in Bordentown, New Jersey. Assembled by a local mechanic from parts shipped from England, and costing $4,000, the John Bull's inaugural run, though just over a mile, was met with enthusiastic acclaim from spectators. This historic moment signified the advent of the railroad era in the United States, heralding a future of enhanced mobility and economic opportunity that would forever alter the American landscape, driving commerce, connectivity, and growth in unprecedented ways.
Capped Bust, Large Diameter (1809-1828)
The first few years of the 19th century saw tremendous expansion for the fledgling United States. The Louisiana Purchase added 828,000 square miles to the nation, effectively doubling its size. Shortly after that the exploratory expedition of Meriwether Lewis and William Clark proved the feasibility of an overland route to the Far West, encouraging western settlement and commerce. The country was expanding in population, also. The new democracy attracted thousands of immigrants from all over Europe, many of whom were fleeing the Napoleonic Wars.
It was March of 1807 before the fourth Mint Director, Robert-Patterson, finally hired the German born John Reich as second engraver. Born in Fuerth, Bavaria in 1768, this talented die cutter arrived in America as an indentured laborer and settled in Philadelphia about 1800. Reich sought employment at the Mint in 1801. Though he was unable to secure a permanent position at that time, an unidentified officer of the institution recognized his talents and generously purchased his freedom.
While the infant Mint had suffered since 1792 from a shortage of qualified engravers and mechanics (and Reich was certainly qualified), Patterson’s predecessor, Elias Boudinot, preferred delaying an offer of a permanent position to Reich until, as he wrote in a letter to President Thomas Jefferson, “. . . I have good evidence of his character.” A more likely reason was Boudinot’s reluctance to offend the aging and professionally mediocre Chief Engraver Robert Scot.
At that time the dime was still unfamiliar to most Americans. The Act of April, 1792, creating the decimal dollar, made a key component “dismes or tenths . . . a disme being a tenth part of a dollar.” However, the quarter dollar fit more easily into popular usage, as it was equal to the Spanish two-reales coin, or “two bits.” Its half was the Spanish silver real, equal to 12-1/2 cents. The high-silver content two-reales coins were legal tender.
Also in wide circulation but not a legal tender was a Spanish coin of inferior silver alloy struck in the 1700’s. Though called two reales, it was known throughout the former colonies as a pistareen. A dime was really half a pistareen, but the new ten-cent pieces were vastly outnumbered by the widely preferred silver one-real coins, however worn they might be.
Reich began work as second engraver to Scot, receiving a salary of $600 per year. From 1807 to 1817 he performed most of the chief engraver’s work without receiving the salary or prestige of the higher post. Coming aboard on April 1, he was cutting dies for his first Capped Bust coins, the 1807 half dollars, by April 2. Only after getting the half dollar, half eagle, cent and quarter eagle out of the way did Reich tackle the dime.
This era was one favoring Rubenesque beauty, as a glance at Scot’s dowdy Draped Bust obverse will show. As she first appeared on the 1809 Capped Bust dime Reich’s Liberty was, if anything, a trifle more streamlined than her predecessor. Fifty years later, U.S. Mint writer William Ewing DuBois would claim that the model for all these rather stout, ample-bosomed Liberties was a woman he called “Reich’s fat German mistress.”
The reverse bore an American eagle with head turned left, holding three arrows symbolizing strength, and an olive branch representing peace. On its breast is the Union Shield composed of six horizontal lines indicating blue, with 13 stripes below, six of these made of three vertical lines each indicating red. Such lines were an 18th century engraver’s standardized method of showing colors in black-and-white engravings; blue representing dominion, red signifying force, with white denoting purity. Encircling the top of the eagle is the inscription UNITED STATES OF AMERICA and a scroll with the incuse motto E PLURIBUS UNUM. Beneath the eagle is the denomination 10 C.
Reich prepared a single, steel punch of his Liberty bust, impressing it into each working die by blows of a small hammer. He then impressed each star by eye, seven on Liberty’s left, six on her right, placing the date in the space below the bust. Although known as “Large Size,” these dimes should more properly be called the “Open Collar” type. They were struck without a restraining collar, giving them a broad, low-rimmed look. Averaging 1.1 millimeters smaller in diameter than the preceding Draped Bust dime, this type is only large in relation to its smaller successor issued from 1828 onward. In reality, diameters vary widely over the years.
Capped Bust dime production was not continuous, with only three dates struck while Reich was in Mint employ. Dimes were issued dated 1809, 1811, 1814, 1820 through 1825 and 1827. Large quantities were struck only in 1820, 1821 and 1827. In all, over five million pieces were minted. All dates are available, with the low mintage 1809, 1811 and 1822 being the scarcest, though all are known in gem uncirculated condition. An unknown number of proofs, actually presentation pieces, exist for the years 1820 and later. Type collectors will have no problem finding premium examples; it’s mainly the variety collector who faces challenges with this series. Although variety collecting today has fewer adherents than in the past, Bust dime devotees are still quite numerous.
Die variety identification of early dimes started late. Most die varieties are identified by the position of the date, the spacing and alignment of stars, the size of 10 C. and the exact position of letters above the ends of the motto scroll. Most other denominations were carefully charted by die variety decades before any serious work was done with dimes. Popular coin books gave only major varieties such as large and small dates. The denomination finally received its in-depth study in 1984: Early United States Dimes 1796-1837, compiled by five students of the series and published by the John Reich Collectors Society.
When grading this series, take into account that weak strikes are common. On the obverse, wear will first show on the drapery at the front of the bust, the hair at the forehead and above the ear and the shoulder clasp. On the reverse, check the eagle’s claws, neck, and wings.
Weary of working for his meager salary, Reich resigned on March 31, 1817, exactly ten years after beginning employment at the Mint. In 1828 Chief Engraver William Kneass introduced the close collar coining method as part of the Mint’s quest for technological improvement and uniformity. The Capped Bust design was adapted to this new process, and the Small Size Capped Bust dime was born. It would be issued until 1837, when Christian Gobrecht’s Seated Liberty dime was unveiled.
Capped Bust, Small Diameter
In 1823, little more than a decade after the War of 1812 in which the United States fought for its free use of the seas, President James Monroe issued a foreign policy statement which was to affect the development of the Western Hemisphere for the next century. This Monroe Doctrine expressed in no uncertain terms that the USA would not tolerate European interference, control or influence in North and South America. It was a time when the nation was feeling its political and economic “oats.”
The United States Mint was gearing up to exercise its technological “muscle” also. William Kneass came aboard as chief engraver in January of 1824, and Samuel Moore as mint director later that year. Both men were charged with the task of increasing output and uniformity. To this end, in 1828 Kneass instituted a new process—minting coins within a close, reeded collar to standardize diameters. This practice also eliminated the time consuming method of manually placing reeding on the coin’s edge. Greatly speeding up production, it allowed the coins to stack evenly and discouraged counterfeiting. Total design uniformity was not yet realized however, as dies still required hand punching of numbers, letters and stars, and the devices themselves were different from punch to punch.
The newly designed equipment allowed the Mint to strike planchets of greater thickness. Adhering to the specifications for coin weight and alloy prescribed by the Mint Act of 1792 required the Mint to maintain the same standards as for the thinner and larger coins previously struck. Therefore, the diameters of the half dime, dime and quarter dollar, as well as those of the quarter eagle and half eagle, were all reduced.
Though the proposed reduction in the size of the dime was from 18.8 mm to 18.5 mm, new research shows that actual diameters varied over the years. There is really no consistent distinction between the large and small size diameters, particularly from 1828 through 1834. Due to this variance, this type could more properly be called the Close Collar Capped Bust dime. The main discernible difference from the previous large size or open collar type are the small radial beads inside a raised border, as opposed to the flat, widely spaced denticles of the earlier production. The new coin was also much thicker at the edges.
The Mint’s penchant for uniform designs dictated that all United States coins share one of three basic portraits of Liberty: One for copper coins, a second for silver coins and a third for gold. The Capped Bust portrait of Liberty in use when Moore became Director was the one adopted by his father-in-law, the previous mint director, Robert Patterson. After Patterson hired John Reich as second engraver in 1807, Reich proceeded to redesign all the coins then in use.
The first dime design was Robert Scot’s Draped Bust/Small Eagle motif issued in 1796. It was updated in 1798 with a heraldic eagle reverse, primarily in answer to criticism of Scot’s “scrawny eagle.” Lack of demand, however, caused the Mint to cease production of dimes after June of 1807.
Reich’s new design for the dime first appeared in 1809 and was later copied by Kneass for the reduced version. It featured a left facing bust of Liberty wearing a cap, with a diadem bearing the incused inscription LIBERTY. Thirteen stars are arrayed on the sides of the bust, with the date below. The reverse depicts an eagle with a shield on its breast, clutching arrows and an olive branch. Above the eagle are the inscriptions UNITED STATES OF AMERICA and E PLURIBUS UNUM, with the denomination 10 C. below.
The reduced size Capped Bust dime was introduced in 1828, the same year “Old Hickory,” Andrew Jackson, became president. It ended its run after nine years, shortly after excessive speculation had caused the financial Panic of 1837, which resulted in a collapse in real estate, stock and commodity prices. Total mintage during this period was approximately 6,730,000 pieces. In addition, small numbers of proofs are known for each year.
As with all coins produced at the U.S. Mint during this time, there are some interesting varieties. The 1830/29 overdate and 1829 with a curled base numeral 2 in its date are the most notable. Variety collecting today, however, has few adherents. As coins have become more expensive and widely dispersed over the years, there are few collectors assembling date sets of Bust dimes, let alone variety collections. Most choose to own a representative type example. While circulated pieces are readily available for every year, this design type becomes very elusive above Mint State-64. Small numbers of exceptionally well preserved pieces do exist, however, grading as high as MS-67. The toughest dates to find in high grades are 1828 Small Date, 1830/29 and 1837.
When grading this design, highpoints on the obverse to check for wear are the drapery at the front of the bust, the hair at the forehead and above the ear and the shoulder clasp. On the reverse, check the eagle’s claws, neck and wings. Weak striking is common and should not be mistaken for wear.
Since the first branch mint that produced silver coins was the New Orleans facility, which began operations in 1838, all of the dimes of this type were manufactured in Philadelphia. It is notable that the Philadelphia Mint was moved from its original building on Seventh Street to the new building at Chestnut and Juniper in 1833. The total cost of the new building, ground, machinery and fixtures was $209,230. The original mint property was then sold in 1835 as two parcels for a total price of $10,100.
Director Moore was ultimately replaced in 1835 by the person with whom-he had originally competed for the appointment, his brother-in-law Robert Maskell Patterson, son of the former Director, Robert Patterson. The younger Patterson instituted the use of steam powered presses, which greatly increased the efficiency and output of the Mint. Furthermore, he introduced the famous and long lasting Seated Liberty silver coinage designed by Christian Gobrecht, which replaced the Capped Bust dime in 1837.
Coin Descriptions Provided by Numismatic Guaranty Corporation (NGC)
