SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!
Need Help? Call 800-421-0200
  • MY ACCOUNT
  • COMPANY
  • BLOG
  • LOGIN

Jewelry Factory - North Hollywood, CA

Build your Custom Jewelry
  • No products in cart.
  • Home
  • About Us
  • Contact Us
  • News
  • Police & Fire Dept. Jewelry
  • Engagement & Wedding
  • Motorsports Jewelry
  • Jewelry Cleaning
  • Categories
  • Cart
  • Home
  • Uncategorized
  • Record-Breaking Coin That Sold for $10 Million in 2013 Is Back on the Auction Block
 
Howard
Thursday, 10 September 2020 / Published in Uncategorized

Record-Breaking Coin That Sold for $10 Million in 2013 Is Back on the Auction Block

A coin believed to be the first silver dollar ever struck by the U.S. Mint in 1794 is expected to sell for $10 million or more when it hits the auction block in Las Vegas on October 8.

"Because of its significance in 1794, it was likely seen at the time by President George Washington, Secretary of State Thomas Jefferson who oversaw the Mint, and by Alexander Hamilton, the first Secretary of the Treasury,” said Matthew Bell, chief executive officer of Legend Auctions.

Dubbed the "Flowing Hair Silver Dollar," the coin is a national numismatic treasure because it symbolized the young USA’s financial independence. The coin features a portrait of Lady Liberty on one side and an eagle on the other.

“Of the 1,758 silver dollars the Mint delivered in October 1794, perhaps less than 130 are known to still survive, and this particular coin is the finest known,” noted Brett Charville, President of Professional Coin Grading Service (PCGS), the world’s leading rare coin authentication and grading company.

The coin is currently owned by Las Vegas collector Bruce Morelan, who paid just over $10 million for the silver dollar in 2013. At the time, the specimen set a record as the world's most valuable coin sold at auction. Experts believe the coin will yield even more on October 8.

“Coins are in my blood, and the 1794 dollar was a lifelong dream,” Morelan said in a statement. "Now that my early American dollars collection is complete and nothing else can be added, I’ve decided it’s time for other collectors to enjoy these magnificent coins.”

Morelan is offering the 1794 Flowing Hair Silver Dollar along with 14 other historical coins at a public auction set to take place at the Venetian Hotel in Las Vegas and online. The complete collection is expected to fetch between $15 million and $18 million.

Morelan's coin is said to be in near-pristine condition. It was given a rating of 66 (on a scale of 1 to 70) by PCGS. The company designated the coin as a "specimen strike" because of the extraordinary care taken in its manufacture.

The Coinage Act of 1792 established the first US Mint under the direction of the Department of the Treasury. Located in Philadelphia, the mint occupied the first federal building erected under the Constitution. Exactly 1,758 coins were struck in October of 1794, but none were meant to be put into circulation. Instead, they were placed in the custody of Mint Director David Rittenhouse, who distributed them to dignitaries as souvenirs.

The Flowing Hair Silver Dollar, which was designed by Robert Scot, weighs 26.96 grams and contains 90% silver and 10% copper.

(The heavily worn 1794 Flowing Hair Silver Dollar shown in the image, above, is part of the National Numismatic Collection, which is housed in the National Museum of American History in Washington, D.C. Legend Auctions hadn't released a photo of Morelan's record-breaking coin as of this writing.)

Credits: Flowing Hair Silver Dollar by United States Mint, Smithsonian Institution / Public domain. Photo dated 1908 of The Philadelphia Mint, established in 1792, by Unknown author / Public domain. Image of Alexander Hamilton by John Trumbull / Public domain.

What you can read next

Diamond That Survived the Holocaust and Two World Wars Is Rescued in Manhattan
First-Ever Global Auction of Aussie Sapphires Features 900,000 Carats of Rough Gems
Did You Know That the Vibrant Red Spinel Is an Official Birthstone for August?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Nearly Perfect 118-Carat Sapphire May Fetch $4.5MM at Phillips’ Hong Kong Sale

    0 comments
  • Archaeologists Unearth UAE’s Oldest Pearling Village; Site Dates Back 1,300 Years

    0 comments
  • Record-Setting Julius Caesar ‘Assassination Coin’ Has Been Returned to Greece

    0 comments
  • Bahrain Gem Lab and MIT to Explore New Methods of Classifying Natural Pearls

    0 comments
  • Music Friday: ‘You Worth More Dan Diamonds, More Dan Gold’ in Sia’s ‘Cheap Thrills’

    0 comments

NEWSLETTER

Stau updated with our latest offers.

CUSTOMER

  • Shipping
  • 30 Day Return Policy
  • Blog

COMPANY

  • About Us
  • Police & Fire Dept.
  • Engagement & Wedding

FEEDBACK

We would like to hear from you with any feedback about our website or products.

SUBMIT YOUR FEEDBACK

FOLLOW US

  • Facebook
  • Twitter
  • Pinterest
© 2019 Jewelry Factory | All rights reserved.
  • About Us
  • Police & Fire Dept.
  • Engagement & Wedding
TOP