The 1794 Flowing Hair silver dollar is considered to be the most expensive coin ever sold (that was put in circulation), commanding a price of over $10 million at a public auction by Stack’s Bowers Galleries in January 2013. This coin is considered to be one of the earliest and rarest coins in US history, and its historical significance, rarity, and excellent condition are among the reasons why it commanded such a high price.
The 1794 Flowing Hair silver dollar was the first silver dollar ever minted by the United States Mint. It was designed by Robert Scot, who was the first chief engraver of the US Mint. The coin was struck in 1794 and features a portrait of Lady Liberty on one side and an eagle on the other side. The design of the coin is simple, yet elegant, and it represents the values and ideals of the newly formed United States.
The 1794 Flowing Hair silver dollar is considered to be one of the rarest coins in US history because of its limited mintage. Only 1,758 of these coins were minted, and it is believed that only a few hundred of these coins still exist today. The limited mintage of the coin, combined with the fact that many of the surviving coins are in poor condition, makes the 1794 Flowing Hair silver dollar a highly sought-after coin among collectors.
The condition of the 1794 Flowing Hair silver dollar that was sold in 2013 is also a major factor in its high price. The coin was graded as Specimen-66 by the Professional Coin Grading Service (PCGS), which is the second-highest grade that a coin can receive. The coin is considered to be in excellent condition, with sharp details and a deep, lustrous finish.
The historical significance of the 1794 Flowing Hair silver dollar is another reason why it commanded such a high price at auction. The coin represents the birth of the United States Mint and the beginning of the country’s coinage system. The design of the coin, with its portrait of Lady Liberty and eagle, represents the values and ideals of the newly formed United States. The coin is also considered to be a symbol of the country’s independence and the American Revolution.
The 1794 Flowing Hair silver dollar has a rich history that adds to its value and appeal. The coin was owned by some of the most prominent collectors in US history, including Louis E. Eliasberg Sr., who was the only person to have ever owned a complete collection of US coins. The coin was also part of the collection of Jack Lee, who was a well-known collector and investor in rare coins. The coin’s ownership history adds to its provenance and makes it even more desirable among collectors.
The sale of the 1794 Flowing Hair silver dollar for over $10 million in 2013 was a significant event in the world of coin collecting. The sale set a new record for the highest price ever paid for a single coin at public auction, surpassing the previous record of $7.59 million for the 1933 Double Eagle gold coin. The sale also highlighted the increasing demand for rare coins among collectors and investors.
The sale of the 1794 Flowing Hair silver dollar also had an impact on the wider market for rare coins. The sale demonstrated that rare coins can be a sound investment, as they can appreciate in value over time. The sale also raised awareness of the importance of preserving and protecting rare coins for future generations.
In conclusion, the 1794 Flowing Hair silver dollar is the most expensive coin ever sold, commanding a price of over $10 million at a public auction by Stack’s Bowers Galleries in January 2013. The coin’s rarity, historical significance, and excellent condition are among the reasons it commanded such a high price.