What is the most valuable coin in the world? — 1794 Flowing Hair Dollar!
Flowing Hair Dollar
Starting in the 1780s, some popular Americans required the facility of the central mint to provide the United States with primary coinage; all such propositions failed due in significant part to an absence of funds and opposition from groups and people who chose that coins to be struck by the individual states. Given that there were no federal coins released, the requirements of the states were satisfied by a range of foreign and residential tokens and coins.
This coin represents the very start of exactly what has actually ended up being the world’s most important currency. Benjamin Franklin stated the capability of the United States to produce its own cash was an essential action to developing itself as an independent country. Coins are a badge of sovereignty.
Numismatic specialists think the “streaming hair” silver dollar was personally examined by George Washington himself.
The United States minted its very first coins– copper cents– in 1793, a year after Congress developed a nationwide Mint.
A year later in the country began dispersing it’s very first silver dollar coins. It is likewise the just recognized 1794 dollar with a silver plug that was placed before striking to make sure the coin’s weight would be right.
This 1794 silver dollar that set a world record unusual coin auction rate of $10,016,875 was accredited for credibility and graded by Professional Coin Grading Service.
The $10,016,875 paid by Legend Numismatics set a world record price for any coin offered in a public auction.
“This record price is a major achievement for the entire rare coin market. We had our first $100,000 in 1972 (1931 Liberty nickel), our first $1 million dollar coin in 1996 (also a 1913 Liberty nickel), and now we have our first $10 million coin. The first time I saw this particular coin when we certified it in 2003, it made my heart thump. It’s a gorgeous, historical treasure,” said Collectors Universe President and PCGS Co-Founder David Hall.
The coin is struck so sharply it is easy to assume this might be the first silver dollar struck by the United States.
Laura Sperber of Legend Numismatics, who placed the winning bid, said: “There is no other 1794 dollar known that’s remotely similar. It’s special, and was specially minted, no question.”
Less than 130 of 1,758 silver dollars struck by the United States Mint in 1794 survive today. Although all have the same design of the allegorical “Miss Liberty” or “Flowing Hair Dollar” with long, flowing hair on the front of the coin and an Eagle on the back side, the coin that set the record price is significantly different from the other surviving examples.
The planchet (blank metal disk on which the coin’s design is struck) was specially prepared. The strike is also significantly exceptional to other recognized examples, and the coin’s surface is proof like with reflectivity. It is also the only known 1794 dollar with a silver plug that was placed before striking to make sure the coin’s weight would be correct.
The record-setting 1794 dollar was the highlight of a public auction conducted by Stack’s Bowers Galleries on January 24, 2013, in New York City. It was consigned by Martin Logies on behalf of the Cardinal Collection Educational Foundation which purchased the coin in 2010 for the then-record price of $7,500,000 from Steve Contursi of Rare Coin Wholesalers. In 1947, this same coin changed hands for only $1,250 in an auction conducted by a well-known dealer of the day, B. Max Mehl.