1794 $1 MS (PCGS# 6851)

The August 2010 Boston Rarities Sale

  • Auctioneer:
    Bowers & Merena
  • Lot Number:
    1005
  • Grade:
    MS64
  • Price:
    $1,207,500.00
Lot Description
<p style="margin: 0in 0in 0pt;">The Silver Dollar was authorized by the Act of April 2, 1792 that also established the United States Mint and created our nation’s coinage. While not the highest-denomination coin authorized by that act, the Silver Dollar was obviously the most important as it was the standard unit upon which the United States’ monetary system would be based. All other coins struck in the United States Mint from the 1790s to the present day are either fractional parts of the Dollar or multiples of that unit. For this reason more than any other, the Silver Dollar has long held a place of honor in the pantheon of American numismatic rarities. It is without a doubt the most popular and widely collected coin ever struck in the United States Mint, and is eagerly sought by both advanced numismatists and the general public as a historic treasure, a cherished collectible and (for common-date examples of the later Morgan and Peace types) a storehouse of wealth for those with an interest in owning silver bullion.<br /><br /> <p style="margin: 0in 0in 0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The most important Silver Dollar ever struck—and also one of the rarest—is the 1794 Flowing Hair. The first coin of its kind and a major numismatic rarity in all grades with a net mintage of just 1,758 pieces, the 1794 Flowing Hair Silver Dollar is a coin of which legends are made. Survivors are always greeted with eager anticipation when they are offered for sale either through auction or via private treaty. And as a further indication of the importance and popularity of the issue, the 1794 Flowing Hair Dollar has been honored with the #20 ranking in the widely distributed book <i>100 Greatest U.S. Coins </i>by Jeff Garrett and Ron Guth (2003 edition consulted).<br /><br /> <p style="margin: 0in 0in 0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The design of the nation’s first Silver Dollar was entrusted to Chief En
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