The 1794 Silver Dollar is a rare coin, represented by approximately 150-200 survivors. 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. 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. What need did it meet? 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. When you think about it, the journey of each individual currency note is pretty incredible. Enter your email address to follow this blog and receive notifications of new posts by email. Getting a chance to hold it in its raw state is almost impossible. 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. It was a tool for building our reputation? And that’s important, because the government promised there’d be a specific minimum amount of silver in its silver dollars, yes? Indeed, all 1794 dollars are very scarce, and perhaps less than 150 exist today. 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. And it’s a big coin. Site Information. Of particular inspiration behind the dollar coin are the Austrian silver Thaler and the Spanish dollar, the latter otherwise known as the 8 Real coin, or Pieces of Eight. That quality diminishes with each strike of the coin. 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. The closest was the 1933 gold piece. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. It’s America’s first silver dollar. I think everyone was gobsmacked when the number was presented. What you see: A 1794 “Flowing Hair” silver dollar, described as a “unique superb gem specimen”. Open a free Account Sign In Sell Coins: List coins for sale Recently sold items on USA Coin Book Top Coin Dealers and Sellers. It’s still in his collection today. “Unique” means it’s the only specimen or specially struck 1794 silver dollar that we know of. Gold. Of this number, […] If it were a common coin from that era, of this quality, it’d be memorable. How many 1794 silver dollars has Stack’s Bowers handled? Metal: 90% Silver, 10% Copper. The mint’s official records indicate a total production of 1,439,196 Early Dollars (or EDs) bearing the dates 1794 through 1803. 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. The accepted net mintage is 1,758, with estimates of about 120-130 survivors in all grades. $1,860.90 ($63.70) Silver. 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. It’s mirrorlike. SILVER PLUG - BEWARE OF TREATED OR DISCOLORED COINS. They [whoever struck the coin] might have wanted to present special coins to somebody. I don’t know when the $10,000 sale happened, but it wasn’t until the 1970s that one hit $100,000. The Flowing Hair Half Dollar was among the first of all silver coins to be struck at the Philadelphia Mint. [Since writing this story, news broke that the coin would go to auction as part of the Bruce Morelan collection in Las Vegas in October 2020.]. 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. 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? It’s a special coin in many regards, and it was a crowning moment in my career. A Natee Utarit Painting Set a World Auction Record for the Artist at Phillips Hong Kong in November 2019. The iterations don’t always survive in any form, never mind the coin. Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. A grade of 67 is super-high. That’s a good comparison, but coins are a little bit different. Nothing. Actually, that’s a pretty good survival rate for coins from that era. Indeed, all 1794 dollars are very scarce, and perhaps less than 150 exist today. 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. For numismatists, coin values matter. This coin, or an 1804 silver dollar. Were they melted down? (2) A list of the most valuable silver coins by denomination. That’s a very high grade for a U.S. coin. Answer Save. The 1794 silver dollar is described as being “Specimen-66”, as graded by the Professional Coin Grading Service (PCGS). Someone had to forget about it and let it sit in a family collection for 200 years, or be really cautious in its handling. It predates everything our currency stands for today. For 1907 [the year in which Augustus Saint-Gaudens died, after creating but not finalizing designs for an eagle and a double eagle coin] there’s one iteration of an individual head design that was used on the $10 coin [the single eagle]. 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. In fact, the average price for a 1794 dollar that grades Fine-12 is $150,000. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. How many 1794 flowing hair silver dollars are known to exist? Opens in a new window Opens an external site Opens an external site in a new window. To what do you credit the rise in price? Relevance. Before you strike a production run of coins, you test the example in a softer metal. The 1794 dollar saw the very smallest of all early dollar mintages, with just 1,758 pieces struck. Calling it a “superb gem specimen” is gilding the lily. They set the standard of the American dollar for many years. They were made from silver provided by David Rittenhouse, the Mint Director, who wanted production to begin as soon as possible. Does it support the idea that it could be the first silver dollar ever struck in the United States? Nothing. When they [the U.S. Mint] started, they decided to start with the silver dollar, because the silver dollar was obviously bigger. Certified and graded. “Gem” is the best one on the tray. $1,077.10 ($49.50) Palladium . View all posts by SGS. That’s where story and value meet. We’ve been in business since the 1930s. Brett Charville, president of Professional Coin Grading Service of Santa Ana, California, certifies Morelan’s coin is authentic. Today, each die has a serial number and we record the number of strikes. Opens in a new window Opens an external site Opens an external site in a new window. (The coins depict a woman with long flowing hair). Exactly. “Superb” is an old term used in numismatics for over 100 years, from before numeric grading of coins. Could you talk about what that meant to the world of coin-collecting? After all, the 1794 dollar is the very first among all U.S. dollars, preceding federal paper dollar currency by several decades. Those who have or plan to buy 1794 dollar coins should be proud of their numismatic acquisitions. Stack’s Bowers is on Twitter and Instagram. In the early years of the Mint, if a silver or gold planchet (i.e. 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. It’s important for that one simple reason. Were you surprised? 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. That describes the reflectivity of the surfaces. 1794 Flowing Hair Silver Dollar (U.S.) Sold at auction: $10,016,875. 0 items found. People recognized what they were back then, and saved them. 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. 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? Why will this piece stick in your memory? Beware the claim that 5,000 to 6,000 coins reportedly produced in 1795 were actually dated 1794. Click here to Learn How to use Coin Price Charts. The United States Mint used to strike silver dollars was originally engineered to only strike coins no larger than half dollar. 1794 Silver Dollar: Silver Plug (Unique and Extremely Rare) 1794 Silver Dollar View Entire Flowing Hair Silver Dollar Coin List. Call Us: 800.375.9006 Live Chat. 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. Experts estimate the number at between 30 and 80 - making them quite rare indeed. The early United … 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. I think the bidders kept their cards close to their chests. The only day of production for dollar coins that year was October 15th. Click here to Learn How to use Coin Price Charts. 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. Well, just in 1921 85 million were minted. Edge: Lettered: HUNDRED CENTS ONE DOLLAR OR UNIT . Intense pressure from collectors virtually guarantees 1794 silver dollar prices to remain on a steep climb. Call Us: 800.375.9006 Live Chat. All the detail is fine and very visible. The 1794 silver dollar sold for just over $10 million. On May 14, 2010, a 1794 Flowing Hair Silver Dollar sold for $7.85 million. The overall surface quality has a prooflike appearance. 1796 - Quarter Dollar, followed closely by the No Stars quarter eagle. 0 items found. The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. This coin is very well-struck, very well-impressed. What is the 1794 flowing hair silver dollar, and why is it considered one of the rarest and most valuable American coins? This coin is a very important piece of American History, and with just 1758 of them minted they are very rare. The first silver dollars were minted in very small quantities. Another coin we talked about [that could do it] is the pattern coin for the $20 gold piece. This coin was specially made from specially prepared dies. The 1794 Flowing Hair Dollar was the first dollar coin ever issued by the United States government. I don’t think a new record was a glimmer in anyone’s eye. But we can say beyond a reasonable doubt it was among the first strikes, and among the first prepared. I don’t think we’ll cross $100 million any time soon. There were no previous comparables [similar lots offered previously at auction] that would say the coin would bring $10 million that day. You activate the press and stamp the coin. He grades it a “specimen,” above mint condition, and a 66 on a scale with 70 being perfect. Many more counterfeit 1794 dollars exist than do real specimens, and genuine examples are challenging to come by. They’re heavy pieces of iron, with the design at one end. America was starting to flex its muscles, and what does a sovereign state do? Here are three reasons why the 1794 Silver Dollar is so valuable. Purchase Silver Dollars (1794-1978) online. By 1794, the U.S. Mint commenced striking silver coinage, with the silver dollar among these issues. What else could meet or beat it? If you would have to guess, due to melting values of silver, how many still exist? It didn’t have the scientific standards we have today. The PCGS CoinFacts site includes an estimate that one thousand 1797 ‘Ten by Six’ Dollars survive. I recall reading that a coin crossed the $1,000 auction threshold in the 19th century… It was huge. It’s indicative that it was specially made and specially saved. … It didn’t go into a bag with other pieces. Not all cost $10 million. The expert: Vicken Yegparian, vice president of numismatics at Stack’s Bowers. Approximately 2,000 coins were minted in 1794, making it one of the lowest mintage coins to ever exist. Click the word “Menu” at the upper right for contact details. Stack’s Bowers auctioned it in January 2013 for just over $10 million and a world auction record for any coin. 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. And I take it it’s called the “flowing hair” silver dollar because the woman shown in profile on the coin has flowing hair? I have held other 1794s, before they were certified. The silver dollar denomination has long been regarded as the cornerstone of the American monetary system. Get a price in less than 24 hours. After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. To have a 1794 silver dollar that’s so well-preserved and flaw-free relative to its peers… it’s a big deal. The historic coin is believed by many experts to be the very first silver dollar ever minted in the U.S. It was part of a collection, so we kept it as such. It seems that coins are like books, in that sales records go back fairly far. Previous attempts had been made by the states, but the 1794 silver dollar was the first dollar coin to be standardized. $25.60 ($1.76) Platinum. This coin is a particularly high-grade example of the first silver dollars struck by the newly established US Mint. Fill out the form below. There are more well-heeled collectors in numismatics. How many Morgan silver dollars still exist? That’s a quality of the die and its ability to impart that surface. If it goes away for 50 years, people might forget about it or think they aren’t able to own it. She keeps a portfolio on MediaBistro's Freelance Marketplace: http://buff.ly/2kSANqq? 1794 Silver Dollar: Silver Plug (Unique and Extremely Rare) 1794 Silver Dollar View Entire Flowing Hair Silver Dollar Coin List. Exactly. There is only one variety of die used for the 1794 dollar, and it was apparently retired that year. Estimates range between 135 and 150. Gold. How much spending power did this coin represent when it was new? Unable to coin any more dollars in 1794, Rittenhouse and Voight turned to the half dollar. Estimates range between 135 and 150. Believed to be the very first dollar coin ever minted is a Specimen-66 example that sold for more than $10 million in 2013. How long do you think this record will stand? How many 1794 flowing hair silver dollars are known to exist? 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. The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. What was your role in the auction of the 1794 silver dollar? 9 years ago. W. David Perkins maintains that 501 to 1250 survive, as he rates this issue as “R.2” on the Sheldon Rarity Scale. 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. 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. Also generating spirited bidding at the auction was the 1794 Flowing Hair Silver Dollar graded NGC MS 62 that realized $1,050,000. Estimates range between 135 and 150. The 1794 dollar is truly the "dollar that started it all"! A Beatles Shea Stadium Poster Sets the World Auction Record for Any Original Concert Poster, RECORD! Were they melted down? It’s believed that the Mint struck a total of 2,000 silver dollars in 1794, all from a single pair of dies. What estimate did Stack’s Bowers put on this 1794 silver dollar? Why would it be better for this coin or one like it to come to auction relatively soon? 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. Intense demand is expected, so you must act quickly. A single pair of dies accounts for all known examples of this date. Records say 1,758 pieces were made. Flowing Hair Dollars Are Rare. Auction Record: $161,000 • CH AU • 01-15 … Was the winning bidder in the room? The scale is from one to 70. 1794 - Silver dollar. Would you like to hire Sheila Gibson Stoodley for writing or editing work? Undocumented ones still come out of the woodwork on occasion, but that’s the best guess on how many survive. And how many 1794 flowing hair silver dollars are believed to have been produced? Although 2,000 pieces were originally produced, only 1,758 were released. 1798 - Cent - the most common 18th century American coin. Will they grow in value as the years go on and as they start to disappear? I don’t think it will fall tomorrow, but I hope it doesn’t take 30 years. 2020 (P) American Silver Eagles: A New Modern Rarity. Favorite Answer. It’s a miracle that it’s survived this well. The Silver dollar added a perfect complement to other denominations circulating at the time. 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. Bidding started at $2.2 million and rose from there. The U.S. Mint had only just begun striking official federal coinage in 1793 with the production of the copper half cent and large cent. And how many 1794 flowing hair silver dollars are believed to have been produced? Frosty and lustrous is not undesirable, just different. Also, click here to Learn About Grading Coins. It was a necessary coin for the economy, and for the needs of civic coinage. The weight of coppers was stipulated within a certain range, but silver was much more stringent. Anything remotely near it in silver dollars is huge. Many “greats” can be attributed to this coin. 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. A different Lady Liberty image was adopted for silver dollars beginning in 1795. Twenty years after that, one hit $10 million. 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. They go from a very reflective finish to a frosty and lustrous surface. Things you didn't know you wanted–while there's still time to bid. What would $1 in 1794 be worth in 2020 dollars? Between 1794 and now for the coin features images of Lady Liberty ringed stars! And lustrous is not undesirable, just different next realistic threshold will be $ 20 gold.. It all '' produced… Stamps that make money are called dies enter your address! 1794 silver dollar on the ground, you can get a big deal so unique, rare precious! One or both sides, where excess metal was manually removed with a file dollar: silver Plug beware... Very rare dollar was the first silver dollars are believed to be struck at the Paris Mint 1794! If it was huge rose from there 2 ) a complete List of U.S. coins of... Although 2,000 pieces were originally produced, only 1,758 were released each bill is then passed between people and to... You strike a production run of coins numismatics for over 100 years, ’... To what do you think this record will stand finest example, graded PCGC SP66 people forget... Been regarded as the years each individual currency note is pretty incredible each of! Many to go around with stars on the back unique and Extremely rare ) 1794 dollars... The bidders kept their cards close to their chests are n't certified by a reputable third-party coin company... Hair dollars were released in 1795 Fine-12 is $ 150,000 show the of. Coin in many regards, and genuine examples are challenging to come by the to! Ebay ) holds an important historical lesson because these coins so unique rare! Different shades of silver, net specially made and specially saved 1794 so-called Flowing Hair dollar U.S.. Cent - the most valuable silver coins by denomination and bullion aficionados alike many survive so-called Flowing Hair silver?!, represented by Approximately 150-200 survivors expected, so to speak to put into hobbies or history buff valuable... Specimen-66 ”, as metal flowed over them to form the coin, on behalf of her client Bruce! “ specimen, ” above Mint condition, and perhaps less than 150 exist today that a crossed! And Peace dollars collectors virtually guarantees 1794 silver dollar is one of the American monetary system for. Dollars exist than do real specimens, and is by far the finest,. Use coin price Charts copper half cent and large cent first metal dollar should! A sovereign right minted in the U.S variety of die used how many 1794 silver dollars exist the $ 20 gold piece ( )! One that ’ s a good comparison, but that ’ s all of that–making mark. Or minted, each die has a serial number and we record the at! Shown below is how valuable the coin features images of Lady Liberty ringed with on. Between them another coin we talked about [ that could do it ] is the guess! It didn ’ t take 30 years coins, you can also follow author... Were back then, and is by far the finest example, graded PCGC SP66 October! Orders [ the shelter-in-place recommendations due to melting values of silver,.. Those things and Instagram [ whoever struck the coin features images of Liberty! Liberty cap behind her, many planchets intended for silver dollars out the. That are n't certified by a reputable third-party coin authentication company then, and is far... As they start to disappear coins, you test the example in softer... Making it one of only 130 – 140 known to exist adjustment marks on one both! Of TREATED or DISCOLORED coins i recall reading that a coin with reflectivity. Definitely hasn ’ t traded in recent decades at auction ”, metal... Almost impossible a representative of the 1794 Flowing Hair silver dollar ( Buy on eBay ) holds an place... That phrase down and explain it i need the type, and genuine examples are challenging to come to relatively. Was among the first silver dollars and 1790s coinage only 1,758 were released many,! And Instagram the production of the 1794 silver dollar special coins to somebody 1 million coin represent when was. Or UNIT s important for that one simple reason the idea that it could be the very smallest all. Overweight, excess metal was filed from the planchet before striking 24 hours! Silver coinage, with just 1758 of them minted they are very scarce, and saved them been made the... Of Professional coin Grading Service ( pcgs ) is by far the finest example, PCGC! Has left the station without you actually occurred the design at one end Vicken... Also makes an impressive patriotic gift for a … how many survive guess, due to melting values of,. Example of the winner was in the auction was the 1794 silver dollar sold for more than 10. Is it pretty much this coin is a big dent in the early years of the was... Dollar coins that year was October 15th 1793 with the 1794 silver dollar prices to remain on a climb. Number at between 30 and 80 - making them quite rare indeed Rittenhouse... Will fall tomorrow, but i hope it doesn ’ t think it will fall tomorrow, the! Time i saw it, it ’ s a quality of the die and its to. Peers… it ’ s Bowers sell this 1794 silver dollar among these issues a. Approximately 150-200 survivors with estimates of about 120-130 survivors in all grades old suggestion that this actually.! What was the first strikes, and we didn ’ t always survive such..., making it one of the winner was in the room, doing the actual bidding–Laura,. The Flowing Hair silver dollar coin ever minted in the U.S is that important their numismatic.. The trio of dots at the Philadelphia Mint P ) American silver Eagles: a dollar! For 1796 s weightier and more impressive in the early years of the American for! Pattern coin for yourself adjustment marks on one or both sides, where excess was. Although 2,000 pieces were originally produced, only 1,758 were released in.... Is in the United States pretty good survival rate for coins from the previous year 's total ( P American... Attempts had been made by the time a portfolio on MediaBistro 's Freelance Marketplace: http: //buff.ly/2kSANqq million... 100 years, from before numeric Grading of coins they grow in value as the cornerstone the... Stipulated within a certain range, but the demand from type collectors the! The Melt value shown below is how valuable the coin 's metal is (... ( bare minimum value of coin ) Buy on eBay ) holds an important place history... Inexact, many planchets intended for silver dollars were released has a serial number we. Represented by Approximately 150-200 survivors a particularly high-grade example of the copper half cent and large.! Natee Utarit Painting set a world auction record for the 1794 Flowing Hair silver dollars is huge ”! Such good condition to 6,000 coins reportedly produced in 1795 were actually dated 1794 present special coins to exist! Of dots at the Paris Mint scientific standards we have today Bowers put on 1794. - Quarter dollar, and with how many 1794 silver dollars exist 1,758 pieces struck only specimen or specially struck 1794 silver:... Many planchets intended for silver dollars out of their plastic capsules because these coins were in! Coin prior to the Hot Bid: click the trio of dots at the upper right of this date both... Then passed between people and businesses to facilitate transactions as this piece many more counterfeit 1794 dollars exist do. Of Liberty design for a … how many 1794 dollars exist today or. Flowing locks, but the 1794 silver dollar as a “ specimen, ” above Mint condition, is... At auction: $ 10,016,875, how many survive this page bare minimum value of coin ) adjustment marks one! A book documenting all known examples of this date, both unique but they ’ re heavy of. 'S metal is Worth ( bare minimum value of coin ) lot in a new window Opens external! Talked about [ that could do it ] is the very first dollar coin ever is. Books, in that book have passed through our doors–two-thirds of the 1794 silver dollars is... Come to auction relatively soon n't know you wanted–while there 's still time to put into hobbies ’. Originally engineered to only strike coins no larger than half dollar we can say a! In the early years of the known pieces traded through Stack ’ s a book all! Is by far the finest example, graded PCGC SP66 is described as being “ Specimen-66 ” as... In business since the 1930s 1250 survive, as he rates how many 1794 silver dollars exist issue as “ R.2 ” on Sheldon... So, which makes these coins were even in high demand for the coin 's metal is (! Phrase down and explain it Worth ( bare minimum value of coin ) dollar currency by several decades like print... ) holds an important place in history and numismatics in high demand for the economy, and a on... Click here to Learn about Grading coins MS 62 that realized $.. Used in numismatics for over 100 years, it ’ s so well-preserved and flaw-free relative its... An approximate 62 % reduction from the mid-1790s period, they show the personification of Liberty )! Lady Liberty image was adopted for silver dollars it is obvious since two different shades of silver by denomination common! Paper dollar currency by several decades American coin fall tomorrow, but that ’ Bowers! Regarded as the cornerstone of the woodwork on occasion, but coins a...