In the quiet corners of coin shops, at bustling collector conventions, and through online auction houses, a small silver coin from the early American republic continues to captivate collectors and investors alike.
The 1829 Capped Bust dime—measuring just 18.8 millimeters in diameter and weighing approximately 2.7 grams—carries historical significance, artistic merit, and monetary value far exceeding its diminutive size.
For numismatists (coin collectors) and American history enthusiasts, these nearly two-century-old coins represent tangible connections to the formative years of the United States, when the young nation was establishing its economic identity and industrial capabilities.
Historical Context: America in 1829
To understand the significance of the 1829 dime, one must first appreciate the historical context in which it was produced. Andrew Jackson had just begun his presidency, having defeated John Quincy Adams in the election of 1828.
The nation comprised just twenty-four states, with much of the western territory still unexplored by European Americans. The Industrial Revolution was gaining momentum, though America remained predominantly agricultural. Steam power was transforming transportation with early railroads beginning operations, while the Erie Canal (completed in 1825) had recently revolutionized commerce in the northeast.
Against this backdrop of transformation, the United States Mint, established in 1792, was still a relatively young institution. Operating from its Philadelphia location, the mint faced numerous challenges in producing the coinage needed for a growing nation.
Technical limitations, inconsistent metal supplies, and primitive production methods resulted in coins that, while functional, often varied considerably in appearance and quality.
The Capped Bust Design: Liberty’s Evolution
The Capped Bust dime series, introduced in 1809, represented a significant artistic evolution in American coinage. Designed by German-born engraver John Reich, who had been hired as an assistant engraver at the U.S. Mint, the Capped Bust portrait replaced the previous Draped Bust design that had appeared on early American silver coins.
Reich’s design depicted a fuller, more mature Liberty facing left, wearing a cap (often called a Phrygian or liberty cap) with a band inscribed “LIBERTY.” Her hair flows from beneath the cap, with curls falling to her shoulder. Seven stars appear to Liberty’s left and six to her right, representing the original thirteen states. The date appears below the bust.
The reverse features an American eagle with outstretched wings, clutching arrows and an olive branch in its talons, symbolizing America’s desire for peace but readiness for war.
A shield covers the eagle’s breast, and the inscription “UNITED STATES OF AMERICA” surrounds the design. The denomination, expressed as “10 C.,” appears at the bottom of the coin.
What makes Reich’s design particularly interesting to modern collectors is its distinctly American character. While earlier coin designs had drawn heavily from European artistic traditions, the Capped Bust series began developing a uniquely American numismatic identity—bolder, less formal, and more representative of the young republic’s self-image.
The 1829 Mintage: Numbers and Varieties
The Philadelphia Mint struck 770,000 dimes in 1829—a substantial number for the era but minuscule compared to modern production figures.
(For perspective, the modern U.S. Mint can produce more coins in a single day than were minted in the entire year of 1829.) These coins were struck on manually operated screw presses, with each planchet (blank coin) positioned by hand between dies and then struck with significant physical effort from mint workers.
This labor-intensive process, combined with the technological limitations of the time, resulted in numerous die varieties as dies wore out quickly and needed frequent replacement. Numismatists have identified several significant varieties of the 1829 Capped Bust dime:
JR-1 through JR-12: These designations (named for dime variety experts Davis Jules and Russell Logan) identify twelve distinct die combinations used to strike 1829 dimes.
Small vs. Medium vs. Large 10C: Variations in the size of the denomination on the reverse.
Curl Base vs. Square Base 2: Differences in how the numeral “2” in the date was engraved.
Among these, the JR-7 (Square Base 2, Medium 10C) variety is generally considered the scarcest, while the JR-4 variety is among the most common.
Each variety tells a story about the production challenges faced by the early mint. Dies were created by hand, with numerals and letters individually punched into the die, creating inevitable variations.
As dies cracked or wore down during production, distinctive characteristics emerged, allowing modern collectors to trace the lifecycle of particular die pairs.
Composition and Physical Characteristics
The 1829 Capped Bust dime was struck in 89.24% silver and 10.76% copper, giving it an actual silver content of approximately 0.0774 troy ounces. This composition, known as the “89.24% standard,” had been established by the Coinage Act of 1792 and would continue until 1837, when the silver content was adjusted to 90%.
These dimes measured 18.8mm in diameter—slightly larger than modern dimes (which measure 17.91mm)—and featured a reeded (ridged) edge. This reeding served both decorative and security purposes, making it more difficult to “clip” or shave precious metal from the coin’s edge, a common form of fraud in earlier eras.
The weight standard was 2.7 grams, though actual examples often vary slightly due to the primitive production methods and natural wear.
Unlike modern coins, which are struck within a collar to ensure uniform diameter, these early dimes were struck in an open-faced die, resulting in slight variations in diameter and sometimes producing “off-center” strikes where the design isn’t perfectly centered on the planchet.
Rarity and Survival Estimates
While the original mintage of 770,000 might suggest these coins should be readily available, the reality is quite different.
Numismatic experts estimate that fewer than 5,000 examples of the 1829 Capped Bust dime survive in all conditions combined, with perhaps fewer than 1,000 in problem-free collectible condition.
Several factors contributed to this high attrition rate:
Extended circulation: Unlike modern coins, which are often saved as souvenirs or collectibles from their date of issue, early American coins typically circulated for decades. Many 1829 dimes remained in commerce until worn nearly smooth.
Melting during silver price increases: Particularly during the Civil War silver shortage and again in the late 1970s when silver prices spiked, many old silver coins were melted for their metal value.
Lack of collector interest in the era: Organized coin collecting didn’t become widespread in America until the 1850s, by which time many 1829 dimes had already been heavily circulated or lost.
Poor storage and handling: Many surviving examples show environmental damage, improper cleaning, or mounting marks from use in jewelry.
As a result, high-grade examples of the 1829 Capped Bust dime are considerably rare today, with gem-quality specimens (MS-65 or better) bringing substantial premiums at auction.
Current Market Values and Investment Potential
The value of an 1829 Capped Bust dime varies dramatically based on condition, variety, and market timing. As of 2025, approximate values by grade include:
Poor to Fair condition (P-1 to F-2): $40-75
About Good to Good (AG-3 to G-6): $75-150
Very Good (VG-8 to VG-10): $150-225
Fine (F-12 to F-15): $225-350
Very Fine (VF-20 to VF-35): $350-850
Extremely Fine (EF-40 to EF-45): $850-1,200
About Uncirculated (AU-50 to AU-58): $1,200-3,000
Uncirculated (MS-60 to MS-63): $3,000-7,500
Gem Uncirculated (MS-64 and above): $7,500-25,000+
Rarer varieties, particularly the JR-7, can command premiums of 20-50% above these general values. Coins with exceptional eye appeal, original surfaces, or particularly attractive toning often sell for more than their grade alone would suggest.
From an investment perspective, the 1829 Capped Bust dime has shown steady appreciation over decades, particularly for higher-grade examples. Between 2000 and 2025, values for Extremely Fine examples have approximately tripled, while gem uncirculated specimens have appreciated even more dramatically.
Several factors contribute to the strong market position of these coins:
Fixed supply with decreasing availability: No more 1829 dimes will ever be produced, and damage or destruction continually removes specimens from the collector pool.
Growing collector base: Early American coins have developed an international collecting audience, expanding beyond traditional American numismatists.
Historical significance: As tangible artifacts from the formative years of the American republic, these coins carry cultural and historical value beyond their precious metal content or numismatic rarity.
Beauty and craftsmanship: The artistry of hand-engraved dies and the distinctive character of coins struck on manual presses appeals to collectors accustomed to the machine-perfect uniformity of modern coinage.
Authentication and Grading Considerations
Given their value, 1829 Capped Bust dimes are unfortunately targets for counterfeiters. Collectors should exercise caution, particularly when considering expensive high-grade examples. Several authentication considerations include:
Weight and dimensions: Authentic coins should weigh approximately 2.7 grams and measure 18.8mm in diameter, though slight variations are normal due to wear and production methods.
Die characteristics: Each genuine die variety has distinctive features documented in specialist references. Familiarizing oneself with these features can help identify authentic examples.
Strike quality: Genuine coins typically show stronger strikes in certain areas and weakness in others, consistent with known production patterns.
Professional certification: For valuable examples, third-party grading and authentication from services like PCGS or NGC provides substantial buyer protection.
Common alterations to be wary of include:
Artificial toning: Chemical treatments used to simulate the attractive patina that naturally develops over decades.
“Tooled” surfaces: Mechanical alteration to remove damage or enhance details.
“Whizzed” coins: Brushed or polished to simulate higher grades.
Altered dates: Modifying numerals from more common dates in the series.
The Joy of Collecting Beyond Investment
While many collectors approach the 1829 Capped Bust dime from an investment perspective, the true joy of these pieces often transcends monetary value.
Holding a coin minted during Andrew Jackson’s presidency—potentially carried in the pocket of someone who witnessed the early Industrial Revolution or the westward expansion—creates a tangible connection to American history that few other objects can provide.
Collectors often describe the satisfaction of completing a date set of Capped Bust dimes or the challenge of acquiring multiple die varieties from a single year. Others focus on acquiring a single, exceptional example that embodies the craftsmanship and character of early American coinage.
Regardless of approach, these small silver discs represent something beyond their metal content or catalog value—they are artifacts from a formative period in American history, hand-crafted using technologies now centuries obsolete, circulated through an economy unimaginably different from our own.
Rare 1829 Capped Bust Dime : A Lasting Legacy in Silver
The 1829 Capped Bust dime represents far more than just a scarce collector’s item or valuable investment. It embodies the artistic, technological, and economic development of a young nation finding its footing on the world stage.
From the distinctive portrait of Liberty to the precisely reeded edge, every aspect of these coins tells a story about America’s early industrial capabilities and national identity.
For the fortunate collector who acquires an 1829 dime—whether a heavily circulated example showing the wear of decades in commerce or a pristine specimen preserved through nearly two centuries—the ownership experience transcends typical possession.
These coins serve as time capsules, connecting us directly to the craftsmen who created them and the countless Americans who used them in daily commerce.
In an age of digital assets and electronic transactions, there remains something profoundly meaningful about these physical artifacts of economic history—something that ensures the 1829 Capped Bust dime will continue to be sought after, studied, and treasured for generations to come.