“Gem” is the best one on the tray. The 1794 Flowing Hair Dollar was the first dollar coin ever issued by the United States government. Click the word “Menu” at the upper right for contact details. What is the 1794 flowing hair silver dollar, and why is it considered one of the rarest and most valuable American coins? Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. Were you surprised? We don’t know who made it or who saved it, but someone put it aside, and someone saved it for it to have been in such perfect condition. The lot notes also describe it as a “unique superb gem specimen”. It’s America’s first silver dollar. Intense pressure from collectors virtually guarantees 1794 silver dollar prices to remain on a steep climb. They’re heavy pieces of iron, with the design at one end. Previous attempts had been made by the states, but the 1794 silver dollar was the first dollar coin to be standardized. It’s just superior. For numismatists, coin values matter. It’s mirrorlike. Silver Plug Dollar. There are more well-heeled collectors in numismatics. The minute the hammer fell. It was $7.5 million, for a 1933 double eagle sold by Stack’s Bowers and Sotheby’s in 2002. By the next year, minting capacity had improved. Indeed, all 1794 dollars are very scarce, and perhaps less than 150 exist today. I have held other 1794s, before they were certified. When the 1794 silver dollar was first struck, the United States Mint was still in its infancy, having just been federally established by the Coinage Act of 1792. When those first Flowing Hair dollars were released in 1794, there weren’t many to go around. In his current Encyclopedia of United States Silver Dollars, 1794-1804(Stack’s-Bowers, 2013), Q. David Bowers (QDB) estimates, on p. 132, that “1250 to 2,000” exist. Things you didn't know you wanted–while there's still time to bid. Purchase Silver Dollars (1794-1978) online. Estimates range between 135 and 150. The coin represents the first year for the silver dollar, the first regular denomination silver coin struck by the United States government, and a mintage rarity. It’s a miracle that it’s survived this well. The dollar is one of only 130 – 140 known to exist, and is by far the finest example, graded PCGC SP66. Click here to Learn How to use Coin Price Charts. Click here to Learn How to use Coin Price Charts. A different Lady Liberty image was adopted for silver dollars beginning in 1795. Estimates range between 135 and 150. The design succeeded the Flowing Hair dollar, which began mintage in 1794 and was the first silver dollar struck by the United States Mint.The designer is unknown, though the distinction is usually credited to artist Gilbert Stuart. 0 items found. If it were a common coin from that era, of this quality, it’d be memorable. What was the previous world auction record for any coin prior to the 1794 silver dollar? First minted in 1794 at the Philadelphia Mint, it was among the first silver coins struck under the name of the United States of America. What would $1 in 1794 be worth in 2020 dollars? Mint: Philadelphia . A Natee Utarit Painting Set a World Auction Record for the Artist at Phillips Hong Kong in November 2019. How were they lost? The mint’s official records indicate a total production of 1,439,196 Early Dollars (or EDs) bearing the dates 1794 through 1803. I don’t think we’ll cross $100 million any time soon. Today, each die has a serial number and we record the number of strikes. So issuing the 1794 flowing hair silver dollar was just as much about announcing America’s arrival as a country as creating money for its citizens to use? Bullion deposits continued to decline, and in 1797, silver dollar production reached the lowest point since 1794 with a mintage of just 7,776 pieces. Will they grow in value as the years go on and as they start to disappear? Purchase Silver Dollars (1794-1978) online. That’s where story and value meet. It definitely hasn’t traded in recent decades at auction. As production was inexact, many planchets intended for silver dollars were overweight. Metal: 90% Silver, 10% Copper. Certified and graded. [Since taking this interview with Yegparian, PGCS announced that Morelan will auction his collection, including the record-setting 1794 silver dollar, in October 2020 in Las Vegas.]. PCGS MS65+ View More Images. After all, the 1794 dollar is the very first among all U.S. dollars, preceding federal paper dollar currency by several decades. What estimate did Stack’s Bowers put on this 1794 silver dollar? What had to happen between 1794 and now for the coin to survive in such good condition? Legend Auctions chief executive Matthew Bell said offers for the coin dubbed the Flowing Hair Silver Dollar didn’t reach a minimum bid and Las Vegas resident Bruce Morelan retained ownership. The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. Of this number, […] and 160,000 Flowing Hair dollars were released in 1795. The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. Favorite Answer. How much spending power did this coin represent when it was new? Site Information. There is only one variety of die used for the 1794 dollar, and it was apparently retired that year. The Silver dollar added a perfect complement to other denominations circulating at the time. If you look at designs for coins from the mid-1790s period, they show the personification of Liberty. Records say 1,758 pieces were made. The overall surface quality has a prooflike appearance. This coin last sold in 1984, and it brought $250,000, or thereabouts. She keeps a portfolio on MediaBistro's Freelance Marketplace: http://buff.ly/2kSANqq? Of particular inspiration behind the dollar coin are the Austrian silver Thaler and the Spanish dollar, the latter otherwise known as the 8 Real coin, or Pieces of Eight. PCGS #: 6854. Press Enter / Return to begin your search. Although 2,000 pieces were originally produced, only 1,758 were released. At first, presses at the United States Mint really couldn’t produce silver dollars very quickly, and less than 2,000 were made in 1794. The series was issued for only two years from 1794 to 1795 and survivors are scarce, particularly for the lower mintage first year of issue. To what do you credit the rise in price? See a 1794 coin that most of us will never own but it's interesting to see just how much it can go for at auction. The only day of production for dollar coins that year was October 15th. Per a handwritten coin transfer warrant issued by Director Rittenhouse on October 15, 1794, 1,758 silver dollars were transferred from the custody of Chief Coiner Henry Voigt to the custody of Mint Treasurer Dr. Nicholas Way. This is your chance to own a pure silver tribute to this coveted coin for yourself. One of our domain experts will have a price to you within 24 business hours. They’re all patterned after the Libertas Americana medal in Paris at the Paris Mint. It’s much easier to hurt a larger coin. What evidence supports that claim? 2020 (P) American Silver Eagles: A New Modern Rarity. 0 items found. When did you know you had a new world auction record? It seems that coins are like books, in that sales records go back fairly far. Those who have or plan to buy 1794 dollar coins should be proud of their numismatic acquisitions. Records say 1,758 pieces were made. Certified and graded. Actually, that’s a pretty good survival rate for coins from that era. 1798 - Cent - the most common 18th century American coin. Liberty Seated Dollars, Morgan Silver Dollars and Peace Dollars. The 1795 Silver Dollar is much more common, but the demand from type collectors keeps the prices high. I think the bidders kept their cards close to their chests. Were they melted down? “Superb” is an old term used in numismatics for over 100 years, from before numeric grading of coins. Experts estimate the number at between 30 and 80 - making them quite rare indeed. Unable to coin any more dollars in 1794, Rittenhouse and Voight turned to the half dollar. (3) The dates that the metal composition changed for each U.S. coin denomination throughout the years. They set the standard of the American dollar for many years. Sheila Gibson Stoodley is an experienced writer and editor who specializes in luxury, travel, art, antiques, collectibles, food, medicine, history, design, and interiors. There’s one die on the top, and one on the bottom, with the metal between them. What need did it meet? The Melt Value shown below is how Valuable the Coin's Metal is Worth (bare minimum value of coin). It’s believed that the Mint struck a total of 2,000 silver dollars in 1794, all from a single pair of dies. Morgan silver dollar coins are a favorite large 90% silver coin for collectors and bullion aficionados alike. Legend Auctions chief executive Matthew Bell said offers for the coin dubbed the Flowing Hair Silver Dollar didn’t reach a minimum bid and Las Vegas resident Bruce Morelan retained ownership. View all posts by SGS. You activate the press and stamp the coin. The first silver dollars were minted in very small quantities. How much silver is in the 1794 silver dollar? (The coins depict a woman with long flowing hair). Someone had to forget about it and let it sit in a family collection for 200 years, or be really cautious in its handling. The Mint's workmen could have struck all of these coins in a single afternoon, using a press ill-suited for the rigors of striking the large diameter dies. Here are three reasons why the 1794 Silver Dollar is so valuable. They polished the die to a glossy state so it would create a glass-smooth surface in the metal and impart a glass-smooth surface to it. In his current Encyclopedia of United States Silver Dollars, 1794-1804 (Stack’s-Bowers, 2013), Q. David Bowers (QDB) estimates, on p. 132, that “1250 to 2,000” exist. In this article you will find (1) A complete list of U.S. coins made of silver by denomination. The 1794 Silver Dollar is a rare coin, represented by approximately 150-200 survivors. They [whoever struck the coin] might have wanted to present special coins to somebody. Fill out the form below. Known silver dollars dated 1794 are from a single pair of dies and are believed to have been made to the extent of, perhaps, 2,000 coins (Walter H. Breen's estimate), of which 1,758 pieces were considered to be satisfactory delivered by the coiner on October 15, 1794. $25.60 ($1.76) Platinum. But we can say beyond a reasonable doubt it was among the first strikes, and among the first prepared. Frosty and lustrous is not undesirable, just different. Evidently, some were rejected as being excessively weak and may have ended up being used as coin blanks the following year or simply being melted. Was the winning bidder in the room? Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. And it’s a big coin. Would you like to hire Sheila Gibson Stoodley for writing or editing work? That describes the reflectivity of the surfaces. For Sale 0 Auctions 0 Wishlist 0 Collection 2. LAS VEGAS (AP) — A 1794 silver dollar believed to be among the first ever minted in the U.S., and the most valuable, went unsold during a public auction in Las Vegas. Exactly. Legend Auctions chief executive Matthew Bell said offers for the coin dubbed the Flowing Hair Silver Dollar didn’t reach a minimum bid and Las Vegas resident Bruce Morelan retained ownership. How long do you think this record will stand? It was a very good amount of money. It’s important for that one simple reason. $1,860.90 ($63.70) Silver. The lot notes say the coin shows “prooflike reflectivity in the fields”. What other clues support the notion that this 1794 silver dollar might have been the first to be struck? What does that mean, and why is that important? It was a tool for building our reputation? The first silver dollars were minted in very small quantities. We’ve been in business since the 1930s. Many examples show adjustment marks on one or both sides, where excess metal was filed from the planchet before striking. Edge: Lettered: HUNDRED CENTS ONE DOLLAR OR UNIT . Legend Auctions chief executive Matthew Bell said offers for the coin dubbed the Flowing Hair Silver Dollar didn’t reach a minimum bid and Las Vegas resident Bruce Morelan retained ownership. Also, click here to Learn About Grading Coins. In 30 years, it’s gone from $250,000 to $10 million. And how many 1794 flowing hair silver dollars are believed to have been produced? What was your role in the auction of the 1794 silver dollar? For Sale 0 Auctions 0 Wishlist 0 Collection 2. With the stay-at-home orders [the shelter-in-place recommendations due to the COVID-19 pandemic], collectors might have extra time to put into hobbies. This coin is a very important piece of American History, and with just 1758 of them minted they are very rare. How many 1794 silver dollars has Stack’s Bowers handled? Not all cost $10 million. Make sure this coin is certified. What’s a pattern coin? blank) was a little overweight, excess metal was manually removed with a file. Q. David Bowers, in his important treaties on silver dollars, does some rounding, but concludes that 1,431, 758 were minted with dates from 1794 through 1803. Buy and Sell on USA Coin Book. Auction Record: $161,000 • CH AU • 01-15 … Both a rare NGC-certified 1894-S Barber dime and a 1794 Flowing Hair Dollar went for over $1 million each in the Dec. Stack's Bowers Auction. $2,408.00 ($53.60) View Charts. Before you strike a production run of coins, you test the example in a softer metal. Have you seen this 1794 silver dollar or any other 1794 silver dollars out of their plastic capsules? There were no previous comparables [similar lots offered previously at auction] that would say the coin would bring $10 million that day. It’s all of that–making our mark in international waters, so to speak. An artist or a sculptor might put out a design for a coin. This coin is very well-struck, very well-impressed. 1797 - half dollar - mainly because I need the type, and I didn't pick it for 1796. Getting a chance to hold it in its raw state is almost impossible. The 1794 Flowing Hair Dollar (Buy on eBay) holds an important place in history and numismatics. After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. That quality diminishes with each strike of the coin. What does that mean, and why is that important? There’s a book documenting all known 1794 silver dollars. In the early years of the Mint, if a silver or gold planchet (i.e. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. It didn’t have the scientific standards we have today. LAS VEGAS (AP) — A 1794 silver dollar believed to be among the first ever minted in the U.S., and the most valuable, went unsold during a public auction in Las Vegas. A 1794 silver dollar, which many experts believe was the first such coin struck by the U.S. Mint, sold for a record $10 million at auction on Thursday. The Mint was a fledgling, low-budget operation when it launched. Could you talk about what that meant to the world of coin-collecting? 1794 Flowing Hair Silver Dollar (U.S.) Sold at auction: $10,016,875. Talking in terms of inflation, it’s worth $25 today. PCGS MS64. To have a 1794 silver dollar that’s so well-preserved and flaw-free relative to its peers… it’s a big deal. Get a price in less than 24 hours. Calling it a “superb gem specimen” is gilding the lily. I don’t think a new record was a glimmer in anyone’s eye. Just over three-quarters of a troy ounce of silver, or .4735 ounces troy of silver, net. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. Records say 1,758 pieces were made. If you would have to guess, due to melting values of silver, how many still exist? So we can say this 1794 silver dollar was among the earliest struck, for sure, but we can’t definitively prove it was the first? None of that existed in 1794. No one thought it would happen. Many “greats” can be attributed to this coin. So a coin with prooflike reflectivity is kind of like a print from an early state? Bidding started at $2.2 million and rose from there. Bottom Line: 1794 Flowing Hair Silver Dollar (U.S.) The first American dollars were produced in 1794, making this coin one of the oldest in the nation. The closest was the 1933 gold piece. A different Lady Liberty image was adopted for silver dollars beginning in 1795. The 1794 silver dollar is described as being “Specimen-66”, as graded by the Professional Coin Grading Service (PCGS). It’s the product of money as a sovereign right. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. This one could break its own record. How Many U.S. Dollar Bills Are There in Circulation? LAS VEGAS — A 1794 silver dollar believed to be among the first ever minted in the U.S., and the most valuable, went unsold during a public auction in Las Vegas. In fact, the average price for a … All 1794 silver dollars are lightly struck at the lower left side of the obverse and on the corresponding part of the reverse, due to the faces of the coining dies not being aligned parallel with each other. The Smithsonian has a copper version. Experts say the coin is one of perhaps 300 original silver dollars that still exist among 1,758 struck in one day at the first U.S. Mint in Philadelphia. 1795 - half eagle, first U.S. gold coin. LAS VEGAS (AP) — A 1794 silver dollar believed to be among the first ever minted in the U.S., and the most valuable, went unsold during a public auction in Las Vegas. On May 14, 2010, a 1794 Flowing Hair Silver Dollar sold for $7.85 million. The iterations don’t always survive in any form, never mind the coin. Brett Charville, president of Professional Coin Grading Service of Santa Ana, California, certifies Morelan’s coin is authentic. America was starting to flex its muscles, and what does a sovereign state do? (The coins depict a woman with long flowing hair). Not all cost $10 million. For this coin to be a 66 is a big deal. The United States Mint used to strike silver dollars was originally engineered to only strike coins no larger than half dollar. A representative of the winner was in the room, doing the actual bidding–Laura Sperber, on behalf of her client, Bruce Morelan. $1,077.10 ($49.50) Palladium . Enter your email address to follow this blog and receive notifications of new posts by email. It’s indicative that it was specially made and specially saved. They were made from silver provided by David Rittenhouse, the Mint Director, who wanted production to begin as soon as possible. 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