The 1804 Draped Bust Silver Dollar is one of the most famous and valuable coins in the world, and it holds a special place in American numismatic history.
However, there is no record of any official 1804-dated silver dollars being struck in that year. The coins bearing the 1804 date were actually produced several decades later for diplomatic purposes.
These were struck in the 1850s and are believed to be intended for collectors. Only a small number of Class II coins exist.
Struck in the late 1850s, these coins were likely produced under Mint Director James Ross Snowden to meet collector demand. Class III restrikes have distinct characteristics that set them apart from the earlier restrikes.
The mention of "Second Reverse" in your question likely refers to the reverse design of the coin. The 1804 Draped Bust Silver Dollars have two distinct reverse designs, and Class III restrikes typically exhibit a reverse that is slightly different from the Class I originals.
The 1804 Draped Bust Silver Dollar is highly sought after by collectors, and its rarity contributes significantly to its value. When assessing the worth of such a coin, factors such as its class, condition, and provenance play a crucial role.
Numismatists often seek professional authentication and grading to accurately determine the coin's class and overall condition.