Indeed, all 1794 dollars are very scarce, and perhaps less than 150 exist today. The 1794 Flowing Hair Dollar (Buy on eBay) holds an important place in history and numismatics. It’s in the same die state as this piece. 1797 - half dollar - mainly because I need the type, and I didn't pick it for 1796. Well, just in 1921 85 million were minted. The dollar is one of only 130 – 140 known to exist, and is by far the finest example, graded PCGC SP66. They go from a very reflective finish to a frosty and lustrous surface. Purchase Silver Dollars (1794-1978) online. 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? In the Heritage catalogue of the silver coins that were in the Eric Newman Collection, it is indicated that 201 to 500 survive (via Sheldon Scale … Exactly. It predates everything our currency stands for today. But even one that’s beat up and well-worn is very cool. The total mintage for 1796 was 79,920, which amounts to an approximate 62% reduction from the previous year's total. Unable to coin any more dollars in 1794, Rittenhouse and Voight turned to the half dollar. No one thought it would happen. The 1795 Silver Dollar is much more common, but the demand from type collectors keeps the prices high. Also, click here to Learn About Grading Coins. The 1794 silver dollar is described as being “Specimen-66”, as graded by the Professional Coin Grading Service (PCGS). Certified and graded. How were they lost? Why didn’t Stack’s Bowers sell this 1794 silver dollar as a single lot in a stand-alone auction? Liberty Seated Dollars, Morgan Silver Dollars and Peace Dollars. 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. This coin last sold in 1984, and it brought $250,000, or thereabouts. Estimates range between 135 and 150. Also, click here to Learn About Grading Coins. 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. 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. Would you like to hire Sheila Gibson Stoodley for writing or editing work? By 1794, the U.S. Mint commenced striking silver coinage, with the silver dollar among these issues. How to subscribe to The Hot Bid: Click the trio of dots at the upper right of this page. A 1794 U.S. silver dollar, believed to be the first silver dollar minted by a newborn United States is going up for sale by a New Jersey dealer. People recognized what they were back then, and saved them. The expert: Vicken Yegparian, vice president of numismatics at Stack’s Bowers. How many 1794 flowing hair silver dollars are known to exist? PCGS CoinFacts president Ron Guth explains how many 1794 Dollars exist today. The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. The United States Mint used to strike silver dollars was originally engineered to only strike coins no larger than half dollar. It also makes an impressive patriotic gift for a coin collector or history buff. The weight of coppers was stipulated within a certain range, but silver was much more stringent. 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. Gold. Two copper patterns exist of this date, both unique. Many more counterfeit 1794 dollars exist than do real specimens, and genuine examples are challenging to come by. When you think about it, the journey of each individual currency note is pretty incredible. A representative of the winner was in the room, doing the actual bidding–Laura Sperber, on behalf of her client, Bruce Morelan. Someone had to forget about it and let it sit in a family collection for 200 years, or be really cautious in its handling. (2) A list of the most valuable silver coins by denomination. Anything remotely near it in silver dollars is huge. Sheila Gibson Stoodley is an experienced writer and editor who specializes in luxury, travel, art, antiques, collectibles, food, medicine, history, design, and interiors. 1794 - Silver dollar. Sometimes, you need a coin to trade to get it into peoples’ consciousness. If you drop a silver dollar on the ground, you can get a big dent in the edge. After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. Why would it be better for this coin or one like it to come to auction relatively soon? The mint’s official records indicate a total production of 1,439,196 Early Dollars (or EDs) bearing the dates 1794 through 1803. Make its own money. What other clues support the notion that this 1794 silver dollar might have been the first to be struck? Not all cost $10 million. Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. The Smithsonian has a copper version. 9 years ago. 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. 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 were they lost? We all knew the record for the 1933 double eagle. So a coin with prooflike reflectivity is kind of like a print from an early state? Get a price in less than 24 hours. It’s just superior. 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 early United … That’s a good comparison, but coins are a little bit different. Exactly. $1,860.90 ($63.70) Silver. (The coins depict a woman with long flowing hair). 1796 - Quarter Dollar, followed closely by the No Stars quarter eagle. 0 items found. 1794 Silver Dollar: Silver Plug (Unique and Extremely Rare) 1794 Silver Dollar View Entire Flowing Hair Silver Dollar Coin List. The scale is from one to 70. Metal: 90% Silver, 10% Copper. To have a 1794 silver dollar that’s so well-preserved and flaw-free relative to its peers… it’s a big deal. Exactly. Perhaps 300 of those original silver dollars still exist, Mudd said, including about 100 circulating among collectors. 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. 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 world’s most valuable coin, a 1794 ‘Flowing Hair’ Silver Dollar, will be offered for sale next month by Legend Auctions in the U.S. Could you break that phrase down and explain it? They had to jury-rig a press to make a coin this big. Was the winning bidder in the room? Just over three-quarters of a troy ounce of silver, or .4735 ounces troy of silver, net. $2,408.00 ($53.60) View Charts. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. And that’s important, because the government promised there’d be a specific minimum amount of silver in its silver dollars, yes? 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. How much spending power did this coin represent when it was new? The PCGS CoinFacts site includes an estimate that one thousand 1797 ‘Ten by Six’ Dollars survive. The 1794 Flowing Hair Dollar was the first dollar coin ever issued by the United States government. Buy and Sell on USA Coin Book. 2020 (P) American Silver Eagles: A New Modern Rarity. 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. $1,077.10 ($49.50) Palladium . This coin is a very important piece of American History, and with just 1758 of them minted they are very rare. Edge: Lettered: HUNDRED CENTS ONE DOLLAR OR UNIT . America was starting to flex its muscles, and what does a sovereign state do? 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. 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. If you look at designs for coins from the mid-1790s period, they show the personification of Liberty. That’s a quality of the die and its ability to impart that surface. How many Morgan silver dollars still exist? The United States Mint used to strike silver dollars was originally engineered to only strike coins no larger than half dollar. Approximately 2,000 coins were minted in 1794, making it one of the lowest mintage coins to ever exist. Fill out the form below. When those first Flowing Hair dollars were released in 1794, there weren’t many to go around. 1794 Silver Dollar: Silver Plug (Unique and Extremely Rare) 1794 Silver Dollar View Entire Flowing Hair Silver Dollar Coin List. For Sale 0 Auctions 0 Wishlist 0 Collection 2. Frosty and lustrous is not undesirable, just different. Gold. There were no previous comparables [similar lots offered previously at auction] that would say the coin would bring $10 million that day. A single pair of dies accounts for all known examples of this date. There’s one die on the top, and one on the bottom, with the metal between them. 1795 - half eagle, first U.S. gold coin. The 1794 Flowing Hair Dollar (Buy on eBay) holds an important place in history and numismatics. What does that mean, and why is that important? Nothing. 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 coins depict a woman with long flowing hair). 2 Answers. None of that existed in 1794. There’s a book documenting all known 1794 silver dollars. 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. Enter your email address to follow this blog and receive notifications of new posts by email. For Sale 0 Auctions 0 Wishlist 0 Collection 2. If it was over, it’d be filed down to the right weight. When did you know you had a new world auction record? You can also follow The Hot Bid on Instagram and follow the author on Twitter. Talking in terms of inflation, it’s worth $25 today. Why will this piece stick in your memory? Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. 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. The shrewd buyer of your 1794 prize is merely trying to exploit an old suggestion that this actually occurred. It’s weightier and more impressive in the hand. Liquidity in the market plays into the desire to own those things. The 1794 dollar saw the very smallest of all early dollar mintages, with just 1,758 pieces struck. I think everyone was gobsmacked when the number was presented. Favorite Answer. 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. Of the original 1,758 silver dollar struck in 1794, this is the only one known to exist that has a silver plug struck into it. The first silver dollars were struck on October 15, 1794. SILVER PLUG - BEWARE OF TREATED OR DISCOLORED COINS. It didn’t go into a bag with other pieces. 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? Of this number, […] Not all cost $10 million. At least 75 in that book have passed through our doors–two-thirds of the known pieces traded through Stack’s Bowers or its predecessor. The 1794 Silver Dollar is a rare coin, represented by approximately 150-200 survivors. This was remedied by filing the face of the planchets; for this reason, the coins vary in weight more dramatically than later issues, which were minted with more precise equipment. The lot notes also describe it as a “unique superb gem specimen”. 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. The first silver dollars were minted in very small quantities. [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.]. The silver used for the 1794 dollars came solely from silver ingots deposited with the Mint by Mint Director David Rittenhouse on August 22, 1794. How Many U.S. Dollar Bills Are There in Circulation? The historic coin is believed by many experts to be the very first silver dollar ever minted in the U.S. Call Us: 800.375.9006 Live Chat. To what do you credit the rise in price? An artist or a sculptor might put out a design for a coin. $1,860.90 ($63.70) Silver. I was on the phone with a client. The type collector desiring an example of the Flowing Hair style can be satisfied with a 1795-dated piece, of which at least several thousand exist in numismatic circles. Call Us: 800.375.9006 Live Chat. It seems that coins are like books, in that sales records go back fairly far. The 1794 Flowing Hair silver dollar goes down in history as being the very first official dollar coins the United States federal government ever issued as legal-tender federal money. I don’t think we’ll cross $100 million any time soon. It’s important for that one simple reason. It was a necessary coin for the economy, and for the needs of civic coinage. 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. Purchase Silver Dollars (1794-1978) online. $25.60 ($1.76) Platinum. We don’t provide printed estimates for most of our auctions, and we didn’t publish an estimate on the coin. The dollar coin is a United States coin with a face value of one United States dollar.It is the second largest U.S. coin currently minted for circulation in terms of physical size, with a diameter of 1.043 inches (26.5 millimeters) and a thickness of 0.079 in (2.0 mm), coming second to the half dollar.Dollar coins have been minted in the United States in gold, silver, and base metal versions. You activate the press and stamp the coin. The Flowing Hair Half Dollar was among the first of all silver coins to be struck at the Philadelphia Mint. And I take it it’s called the “flowing hair” silver dollar because the woman shown in profile on the coin has flowing hair? Many examples show adjustment marks on one or both sides, where excess metal was filed from the planchet before striking. It was $7.5 million, for a 1933 double eagle sold by Stack’s Bowers and Sotheby’s in 2002. It’s the product of money as a sovereign right. 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. If you would have to guess, due to melting values of silver, how many still exist? Why was the 1794 flowing hair silver dollar created? Therefore, it is obvious since two different shades of silver exist on the surface of the coin. 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. This half dollar example is one case where evidence of file marks remain. Shop now - APMEX.com. $2,408.00 ($53.60) View Charts. With the 1794 Silver Dollars it is especially so, which makes these coins so unique, rare and precious. “Superb” is an old term used in numismatics for over 100 years, from before numeric grading of coins. “Gem” is the best one on the tray. Records say 1,758 pieces were made. USA Coin Book Estimated Value of 1794 Flowing Hair Silver Dollar is Worth $103,108 in Average Condition and can be Worth $705,166 to $1,379,086 or more in Uncirculated (MS+) Mint Condition. It was a very good amount of money. Flowing Hair Dollars Are Rare. Intense demand is expected, so you must act quickly. They’re heavy pieces of iron, with the design at one end. I don’t think a new record was a glimmer in anyone’s eye. This coin, or an 1804 silver dollar. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. The lot notes say the coin shows “prooflike reflectivity in the fields”. 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 example is believed to be the first silver dollar ever struck in the United States. The next realistic threshold will be $20 million. Therefore, it is obvious since two different shades of silver exist on the surface of the coin. Today, each die has a serial number and we record the number of strikes. 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. This coin was the first to cross the $10 million threshold at auction. 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. Opens in a new window Opens an external site Opens an external site in a new window. Beware the claim that 5,000 to 6,000 coins reportedly produced in 1795 were actually dated 1794. It’s mirrorlike. Although 2,000 pieces were originally produced, only 1,758 were released. And how many 1794 flowing hair silver dollars are believed to have been produced? Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. Many of them. On May 14, 2010, a 1794 Flowing Hair Silver Dollar sold for $7.85 million. blank) was a little overweight, excess metal was manually removed with a file. Records say 1,758 pieces were made. Back then, if it made an underweight silver dollar, it’d scrap it. We’ve been in business since the 1930s. For numismatists, coin values matter. This coin was specially made from specially prepared dies. And how many 1794 flowing hair silver dollars are believed to have been produced? That describes the reflectivity of the surfaces. By the next year, minting capacity had improved. $25.60 ($1.76) Platinum. What is the 1794 flowing hair silver dollar, and why is it considered one of the rarest and most valuable American coins? It is estimated that about 140 to 150 examples of the 1794 Flowing Hair Silver Dollar survive out of the 1,758 dollars that were struck on a hand-turned screw press at the Mint in Philadelphia. At the end of November 1794, a few thousand pieces were struck, but there was then a mechanical impediment of some kind, holding up further silver coinage until early January 1795. Designer: Robert Scot. 1799 - Cent - for a date set, this is the king of American cents. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. W. David Perkins maintains that 501 to 1250 survive, as he rates this issue as “R.2” on the Sheldon Rarity Scale. Opens in a new window Opens an external site Opens an external site in a new window. The first silver dollars were minted in very small quantities. Once the difficulty was solved, however, half dollars were struck at a heavy rate for several months. It’s America’s first silver dollar. They’re all patterned after the Libertas Americana medal in Paris at the Paris Mint. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. The minute the hammer fell. 1794 Flowing Hair Silver Dollar (U.S.) Sold at auction: $10,016,875. Shop now - APMEX.com. Every Antiques Roadshow Appraiser Who Has Appeared on The Hot Bid–Updated for the Debut of the 2021 Season, The Ten Most Expensive Lots on The Hot Bid in 2020 (THB: Year in Review), The Ten Most Popular Stories on The Hot Bid in 2020 (THB: Year in Review), Every Lot Featured on The Hot Bid in 2020 That Went On to Set a World Auction Record (THB: Year in Review), Stack’s Bowers auctioned it in January 2013 for just over $10 million, news broke that the coin would go to auction, we didn’t publish an estimate on the coin, PGCS announced that Morelan will auction his collection, including the record-setting 1794 silver dollar, the first to cross the $10 million threshold at auction, RECORD! Gone from $ 250,000, or.4735 ounces troy of silver exist the. This example is one of the woodwork on occasion, but coins are little... During the striking action, as metal flowed over them to form the 's. America ’ s beat up and well-worn is very cool $ 100 million any time soon a for. 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