1794 Flowing Hair Silver Dollar- The First Rare U.S. Coin Worth $50 Million!

The 1794 Flowing Hair Silver Dollar holds a distinguished place in American numismatic history as the first silver dollar minted by the United States federal government.

Its rarity and historical significance have made it a coveted item among collectors, with one specimen achieving a record-breaking sale price of $10 million in 2013.

Historical Background

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In 1792, the Coinage Act authorized the establishment of a national mint, leading to the production of the first U.S. silver dollar in 1794.

Designed by Robert Scot, the Flowing Hair dollar was inspired by the Spanish dollar, which was widely used in trade across the Americas.

The coin features a depiction of Liberty with flowing hair on the obverse and an eagle surrounded by a wreath on the reverse.

Design and Specifications

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The Flowing Hair Silver Dollar has the following characteristics:

Rarity and Value

Due to its limited mintage and the passage of time, the 1794 Flowing Hair Silver Dollar is exceedingly rare. Estimates suggest that between 120 and 130 specimens survive today.

The coin’s value is influenced by factors such as its condition, provenance, and historical significance.

Record-Breaking Sale

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In January 2013, a specimen of the 1794 Flowing Hair Silver Dollar, graded Specimen-66 by the Professional Coin Grading Service (PCGS), was sold at a Stack’s Bowers auction for $10,016,875.

This sale set a record for the most expensive coin ever sold at auction at that time. The coin was previously owned by Colonel E.H.R. Green and was sold by Rare Coin Wholesalers in 2010 for $7.85 million.

Notable Specimens

Several notable specimens of the 1794 Flowing Hair Silver Dollar have been documented:

Collecting the 1794 Flowing Hair Silver Dollar

Collectors seeking to acquire a 1794 Flowing Hair Silver Dollar should be prepared for significant investment.

The coin’s rarity and historical importance make it a centerpiece in any collection. Prospective buyers should consult reputable dealers and auction houses specializing in rare coins.

The 1794 Flowing Hair Silver Dollar stands as a testament to the early days of the United States and its coinage.

Its rarity and the record-breaking sale prices it has commanded underscore its enduring appeal to collectors and its esteemed place in American numismatic history.

FAQs

What is the 1794 Flowing Hair Silver Dollar?

It is the first silver dollar minted by the United States federal government, produced in 1794 and 1795.

Why is the 1794 Flowing Hair Silver Dollar so valuable?

Its rarity, historical significance, and the fact that only a limited number of specimens survive contribute to its high value.

What was the record sale price for a 1794 Flowing Hair Silver Dollar?

A specimen was sold for $10,016,875 at a Stack’s Bowers auction in January 2013, setting a record at that time.