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. It’s mirrorlike. … 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. He grades it a “specimen,” above mint condition, and a 66 on a scale with 70 being perfect. And I take it it’s called the “flowing hair” silver dollar because the woman shown in profile on the coin has flowing hair? (2) A list of the most valuable silver coins by denomination. 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. Liberty Seated Dollars, Morgan Silver Dollars and Peace Dollars. PCGS MS64. 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. 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. I was on the phone with a client. (The coins depict a woman with long flowing hair). “Superb” is an old term used in numismatics for over 100 years, from before numeric grading of coins. She has the same flowing locks, but with a liberty cap behind her. And it’s a big coin. Were they melted down? The total mintage for 1796 was 79,920, which amounts to an approximate 62% reduction from the previous year's total. After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. But even one that’s beat up and well-worn is very cool. You can also follow The Hot Bid on Instagram and follow the author on Twitter. When those first Flowing Hair dollars were released in 1794, there weren’t many to go around. The early United … People recognized what they were back then, and saved them. 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. Open a free Account Sign In Sell Coins: List coins for sale Recently sold items on USA Coin Book Top Coin Dealers and Sellers. 9 years ago. Were they melted down? "Flowing Hair" Silver Dollar: 1794-1795: 27 grams: 39-40mm: 0.900 silver: 0.7813 oz t "Draped Bust" Silver Dollar (1795-1804) Coin Type: Date: Coin Weight: Diameter: Purity: Silver Amount (Troy Ounces): "Draped Bust" Silver Dollar: 1795-1804: 27 grams: 39-40mm: 0.900 silver: 0.7813 oz t: Note - only 15 genuine examples of the famous 1804 dollar are thought to exist. As production was inexact, many planchets intended for silver dollars were overweight. Stack’s Bowers is on Twitter and Instagram. Coin collectors should be wary of buying any and all 1794 silver dollars that aren't certified by a reputable third-party coin authentication company. PCGS #: 6854. It’s a miracle that it’s survived this well. and 160,000 Flowing Hair dollars were released in 1795. blank) was a little overweight, excess metal was manually removed with a file. Call Us: 800.375.9006 Live Chat. It’s all of that–making our mark in international waters, so to speak. A different Lady Liberty image was adopted for silver dollars beginning in 1795. 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. This half dollar example is one case where evidence of file marks remain. There were no previous comparables [similar lots offered previously at auction] that would say the coin would bring $10 million that day. For Sale 0 Auctions 0 Wishlist 0 Collection 2. This information is crucial to anyone contemplating the purchase of a 1794 Silver Dollar, since many of the coins are impaired and/or or repaired. But we can say beyond a reasonable doubt it was among the first strikes, and among the first prepared. The 1794 Flowing Hair Dollar (Buy on eBay) holds an important place in history and numismatics. It’s the product of money as a sovereign right. What is the 1794 flowing hair silver dollar, and why is it considered one of the rarest and most valuable American coins? The 1795 Silver Dollar is much more common, but the demand from type collectors keeps the prices high. Purchase Silver Dollars (1794-1978) online. This is your chance to own a pure silver tribute to this coveted coin for yourself. How much spending power did this coin represent when it was new? Does it support the idea that it could be the first silver dollar ever struck in the United States? Enter your email address to follow this blog and receive notifications of new posts by email. 0 items found. The next realistic threshold will be $20 million. You activate the press and stamp the coin. What’s a pattern coin? Click here to Learn How to use Coin Price Charts. Back then, if it made an underweight silver dollar, it’d scrap it. View all posts by SGS. 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 Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. Intense pressure from collectors virtually guarantees 1794 silver dollar prices to remain on a steep climb. It’s believed that the Mint struck a total of 2,000 silver dollars in 1794, all from a single pair of dies. $2,408.00 ($53.60) View Charts. Silver Plug Dollar. When you think about it, the journey of each individual currency note is pretty incredible. The Silver dollar added a perfect complement to other denominations circulating at the time. 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? They’re all patterned after the Libertas Americana medal in Paris at the Paris Mint. 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. 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 1794 Flowing Hair Dollar was the first dollar coin ever issued by the United States government. The 1794 dollar saw the very smallest of all early dollar mintages, with just 1,758 pieces struck. On May 14, 2010, a 1794 Flowing Hair Silver Dollar sold for $7.85 million. 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. Records say 1,758 pieces were made. The Flowing Hair silver dollar is a rare coin that marks the beginning of America’s official production of the dollar — which is our nation’s base unit of currency. I hope the record will break in the near term. After all, the 1794 dollar is the very first among all U.S. dollars, preceding federal paper dollar currency by several decades. Indeed, all 1794 dollars are very scarce, and perhaps less than 150 exist today. None of that existed in 1794. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. It was a very good amount of money. 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. Get a price in less than 24 hours. On October 15, 1794, Chief Coiner Henry Voigt delivered 1,758 silver dollars to David Rittenhouse, representing the entire mintage for the year. Have you seen this 1794 silver dollar or any other 1794 silver dollars out of their plastic capsules? … I think everyone was gobsmacked when the number was presented. 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 … Click the word “Menu” at the upper right for contact details. 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. Purchase Silver Dollars (1794-1978) online. How many Morgan silver dollars still exist? There are more well-heeled collectors in numismatics. It definitely hasn’t traded in recent decades at auction. Is demand higher? This coin last sold in 1984, and it brought $250,000, or thereabouts. Shop now - APMEX.com. There’s one die on the top, and one on the bottom, with the metal between them. It’s indicative that it was specially made and specially saved. 0 items found. And how many 1794 flowing hair silver dollars are believed to have been produced? What other clues support the notion that this 1794 silver dollar might have been the first to be struck? Just over three-quarters of a troy ounce of silver, or .4735 ounces troy of silver, net. Are you concerned the precious metals train has left the station without you? Could you break that phrase down and explain it? Will they grow in value as the years go on and as they start to disappear? Gold. And how many 1794 flowing hair silver dollars are believed to have been produced? (The coins depict a woman with long flowing hair). SILVER PLUG - BEWARE OF TREATED OR DISCOLORED COINS. 1794 - Silver dollar. Once the difficulty was solved, however, half dollars were struck at a heavy rate for several months. 1796 - Quarter Dollar, followed closely by the No Stars quarter eagle. The weight of coppers was stipulated within a certain range, but silver was much more stringent. They [whoever struck the coin] might have wanted to present special coins to somebody. America was starting to flex its muscles, and what does a sovereign state do? 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. PCGS CoinFacts president Ron Guth explains how many 1794 Dollars exist today. Mint: Philadelphia . PCGS MS65+ View More Images. The historic coin is believed by many experts to be the very first silver dollar ever minted in the U.S. That describes the reflectivity of the surfaces. Estimates range between 135 and 150. This coin is very well-struck, very well-impressed. The mint’s official records indicate a total production of 1,439,196 Early Dollars (or EDs) bearing the dates 1794 through 1803. Liquidity in the market plays into the desire to own those things. Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. If you would have to guess, due to melting values of silver, how many still exist? Anonymous. Stack’s Bowers auctioned it in January 2013 for just over $10 million and a world auction record for any coin. Morgan silver dollar coins are a favorite large 90% silver coin for collectors and bullion aficionados alike. Sheila Gibson Stoodley is an experienced writer and editor who specializes in luxury, travel, art, antiques, collectibles, food, medicine, history, design, and interiors. I don’t think a new record was a glimmer in anyone’s eye. Records say 1,758 pieces were made. Those who have or plan to buy 1794 dollar coins should be proud of their numismatic acquisitions. It’s just superior. How were they lost? Actually, that’s a pretty good survival rate for coins from that era. That quality diminishes with each strike of the coin. Approximately 2,000 coins were minted in 1794, making it one of the lowest mintage coins to ever exist. The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. If it was over, it’d be filed down to the right weight. And that’s important, because the government promised there’d be a specific minimum amount of silver in its silver dollars, yes? Metal: 90% Silver, 10% Copper. The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. 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. Relevance. That’s a quality of the die and its ability to impart that surface. The lot notes say the coin shows “prooflike reflectivity in the fields”. 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? It is easy to buy Morgan Silver Dollar Coins here at SD Bullion.. More than ever, most of these silver dollar coins get traded at higher price premiums above their silver melt value due to their rarity and high consistent silver coin collector demand. What was your role in the auction of the 1794 silver dollar? Was the winning bidder in the room? Things you didn't know you wanted–while there's still time to bid. The expert: Vicken Yegparian, vice president of numismatics at Stack’s Bowers. With the 1794 Silver Dollars it is especially so, which makes these coins so unique, rare and precious. 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. Call Us: 800.375.9006 Live Chat. The first silver dollars were minted in very small quantities. 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 low mintage marks an important historical lesson because these coins were even in high demand for the time. $1,860.90 ($63.70) Silver. 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. No one thought it would happen. A different Lady Liberty image was adopted for silver dollars beginning in 1795. It is in near perfect condition, and is believed by many scholars to be the very first U.S. silver dollar to come off the coining press. How to subscribe to The Hot Bid: Click the trio of dots at the upper right of this page. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. It seems that coins are like books, in that sales records go back fairly far. 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. Brett Charville, president of Professional Coin Grading Service of Santa Ana, California, certifies Morelan’s coin is authentic. They’re heavy pieces of iron, with the design at one end. To get to $10 million–that’s faraway an obvious record. We don’t provide printed estimates for most of our auctions, and we didn’t publish an estimate on the coin. 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. They set the standard of the American dollar for many years. Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. Do any other 1794 silver dollars come close to this one? Nothing. It’s America’s first silver dollar. Previous attempts had been made by the states, but the 1794 silver dollar was the first dollar coin to be standardized. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. 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. Experts estimate the number at between 30 and 80 - making them quite rare indeed. Also, click here to Learn About Grading Coins. In the early years of the Mint, if a silver or gold planchet (i.e. The PCGS CoinFacts site includes an estimate that one thousand 1797 ‘Ten by Six’ Dollars survive. An artist or a sculptor might put out a design for a coin. They go from a very reflective finish to a frosty and lustrous surface. I think the bidders kept their cards close to their chests. In addition to the distinctive features recognized in the Redbook, Flowing Hair dollars of 1795 also display distinctively different styles of the obverse portrait of Miss Liberty. The minute the hammer fell. 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. 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. 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. 1799 - Cent - for a date set, this is the king of American cents. The first silver dollars were struck on October 15, 1794. That's certainly not cheap, but even with its six-figure weight the price is still lower than the $10 million paid for the 1794 dollar that many theorize was inspected by George Washington, Alexander Hamilton, and first U.S. Mint Director David Rittenhouse. 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.
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