In the Fall of 1795, a new design engraved by Robert Scot (after a painting by Gilbert Stuart, the noted portrait artist of the late 18^th and early 19^th century) made its debut on the Silver Dollar.  It featured a Draped Bust of Liberty facing right, replacing his earlier Flowing Hair design.  It was a more mature appearing work, and the following year, spread to virtually all other denominations including the cent, half dime, dime, quarter and half dollar.

The first reverse featured an eagle surrounded by a wreath, similar to that seen on the Flowing Hair types of 1794-95, but the eagle and its wings were redesigned to be a bit smaller.  This first type continued in production until 1798 when later in that year, a heraldic eagle reverse was substituted.

The new reverse featured a much larger eagle, now with a shield on its breast, arrows and an olive branch in its claws, a ribbon reading E PLURIBUS UNUM under its neck and 13 stars above.  This type would remain in production through 1803 at which time the denomination was suspended until the mid- 1830s.

Special sets for presentation to dignitaries were struck in 1834-35, and included a dollar of the Draped Bust, Heraldic Eagle type dated 1804. These are known today as “originals” and approximately eight pieces are known.  Another small group was made in 1859 (known as “restrikes”) and seven of these have been accounted for.  Despite never being struck for circulation, and having been minted at least 30 years after its “date,” the 1804 silver dollar has become one of the icons of U.S. numismatics, and today regularly sells for seven-figure amounts whenever it is offered.