$12 Million for America's First Silver Dollar

A rare Flowing Hair dollar from 1794, thought to be the first silver dollar produced by the US, sold for a world record $12 million. GreatCollections, a rare coin and auction organization, bought the coin for a client.

Only 140 silver dollars remain from the original mintage of 1,758, and this is the only one named “Specimen” by PCGS, who graded it SP-66. CAC also approves it.

A 2013 auction sold the famed coin for $10,016,875, the first to do so. Three years prior, it sold privately for $7.85 million. It set the record for the highest coin price in both transactions until the 1933 Saint-Gaudens gold double eagle sold for $18.9 million last year.

The 1794 silver dollar was sold by famous collector Bruce Morelan, who had sold three rare coins to GreatCollections for $13.35 million in November, including the finest 1913 Liberty Head Nickel out of three in private hands. The coin was owned by Virgil Brand, Col. E.H.R. Green, W.W. Neil, and Amon Carter, Senior and Junior before Morelan.

“Without question, this is America's most coveted silver dollar, and it gave me chills closing the transaction for this piece of history,” said GreatCollections president Ian Russell. “This is museum-quality. Apart from the specimen-striking, it's far superior than the Smithsonian and American Numismatic Association examples. New owner is thrilled.”

Last week, CAC founder John Albanese arranged the deal for Morelan. Albanese said, “I'm very pleased to be involved in this deal, officially the highest price paid for any CAC-approved coin in a private transaction, and I know it's bittersweet for Bruce to pass the torch to the next owner

One week ago Sunday, I called Ian about the coin, and we agreed by Thursday. It was then logistics to safely transfer the rarity.” The coin market has grown in recent months due to new collectors from various collectibles and hobbies.

Great Collections bought its second important 1794 Flowing Hair silver dollar in six months. The seventh-highest auction price for a coin was $6.6 million paid by Great Collections at an ANA auction in August.

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