[5] The new silver coins were to be struck in an alloy containing 1,485 parts out of 1,664 (about 89.24 percent) fine silver, with the remainder copper, intended to equal the silver in Spanish dollars. U. S. Mint Engraver Robert Scot created the Flowing Hair silver dollar, and examples were produced only in 1794 and 1795. [8] After the initial production, Rittenhouse ordered all dollar coin production to end until Mint personnel could build a more powerful press that would be capable of better striking the coins. There is no typical grade for a 1794 Flowing Hair dollar. And the next most valuable 1794 Flowing Hair silver dollar is a grade Mint State 66+ that sold for $4,993,750 in 2015. Watch.

[9] The law, known as the Coinage Act of 1792, was signed into law on April 2, 1792, by President Washington. "It is believed to the very first one struck," Sperber said. They were mostly given to international VIPs or important congressmen, further adding fuel to the rumours that the Dollar was originally issued as part of a PR stunt. Today you can own the TWELVE coin collection of America’s most fascinating and collectable coin issues with the Infamous US coins set. [18] The total mintage for the second and final year of production is estimated at 160,295. The act also stated that coins should include a symbol of Lady Liberty as well as an eagle – two icons that remain today on many US coins. Sign up for our newsletter and go inside the world of luxury. [12], Now that mintage of the silver denominations could begin, the Mint began seeking depositors to bring in silver and gold bullion to be coined. Bruce Morelan, a Las Vegas collector, purchased the coin, nicknamed the "Flowing Hair Silver Dollar," in 2013 for $10 million, the most ever paid for a rare coin. The following year, Congress began deliberating on the state of the nation's monetary system and coinage. The silver dollar coin was stuck by the US Mint back in 1794. Government officials later instructed Scot to include a wreath around the eagle and to move the denomination from the reverse face to the edge of the coin. The $10,016,875 that Morelan paid for the 1794 Flowing Hair silver dollar back in 2013 easily makes it the world’s most valuable coin, according to the Associated Press. The Flowing Hair dollar, designed by Robert Scot, was initially produced in 1794, and again in 1795. Despite the authorization, silver and gold coins were not struck until 1794. Whether it’s the Coin of the Cowboys, the Mercury Dime, or even the first Half Dollar to feature a non-president, US coins have some of the most collectable stories attached to them. A 1794 silver dollar coin is now up for auction. The coin represents the first year for the silver dollar, the first regular denomination silver coin struck by the United States government, and a mintage rarity. 15 watching. 1794 FLOWING HAIR DOLLAR 1776 CONTINENTAL PROOF SILVER 1oz ROUNDS COPY . The 1794 Flowing Hair Dollar is believed to be the first silver dollar to be struck by the US Mint. [24] The dollar was graded Specimen-66 by the Professional Coin Grading Service, noting the special conditions under which it was struck. [11] Scot's initial design depicted a bust of Liberty, while his reverse featured an eagle, both required by the 1792 Coinage Act. [5], In his third annual address to Congress, later known as the State of the Union address, delivered on October 25, 1791, in Philadelphia, President George Washington urged members of Congress to put the joint resolution approved earlier that year into immediate effect:[6], The disorders in the existing currency, and especially the scarcity of small change, a scarcity so peculiarly distressing to the poorer classes, strongly recommend the carrying into immediate effect the resolution already entered into concerning the establishment of a mint. [8], One provision in Morris' legislation called for President Washington to be depicted on the obverse side of every coin struck by the new mint. Many would have been hidden forever, or melted down for their precious metal content, adding to the coin’s collectability. and enjoy Free digital access. first silver dollar minted by a newborn United States, Pennies, nickels, dimes and quarters part of latest COVID-19 shortage, Your California Privacy Rights/Privacy Policy. A number of 1795 dollars (along with one 1794 issue) are known to have been struck with a silver plug set into the center, measuring approximately 8 millimetres (0.31 in). Measures have been taken pursuant to that resolution for procuring some of the most necessary artists, together with the requisite apparatus. The best of everything is waiting for you! Also read: Adolf Hitler's 'rumoured' alligator dies in Moscow. So, why is it worth so much? Morelan bought the Flowing Hair dollar from the nonprofit Cardinal Collection Educational Foundation of Sunnyvale, California, which bought it in 2010 for $7.85 million from Steven Contursi, a collector who acquired it for an undisclosed sum in 2003.


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