1794 Flowing Hair Silver Dollar
In the numismatics community, one of the most in-demand coins is the 1794 Flowing Hair Silver Dollar. Due to its rarity and historical significance, coin collectors and speculators alike desire it. Importantly, Austin Rare Coins is a trusted firm in Austin, Texas that sells rare coins like this one. Below are a few things to know first about this rare silver coin.
History Behind The Coin
This particular coin was the first silver dollar ever minted by the United States government, making it a significant piece of American history.
The design of the coin features a portrait of Lady Liberty on the front, with flowing hair and a ribbon around her head. Meanwhile, an eagle sits on a rock with its wings stretched out on the coin's reverse.
Minting 1794 Flowing Hair Silver Dollars
The 1794 Flowing Hair Silver Dollar was minted in Philadelphia, Pennsylvania, which was the capital of the United States at the time. Most importantly, it was produced in limited quantities. Only around 1,758 coins were minted in total. Many of these coins were melted down and reused for other purposes, which is why so few of them exist today.
Interestingly, the coins struck at the Philadelphia Mint were made with silver bullion sourced from the Spanish colonies. Furthermore, these colonies were in South America.
1794 Silver Dollar Values
No matter the condition, the 1794 Flowing Hair silver dollar increases its value due to its scarcity. To clarify, low-end grades of G-4 (the “good grade”), are valued at $65,000. Secondly, a mid-circulated quality of F-12 (the “fine grade") carries a value of $135,000. The average Uncirculated specimen typically sells for over half a million dollars, while some specimens easily exceed one million dollars.
The World’s Most Valuable Coin
The value of the 1794 Flowing Hair Silver Dollar has continued to increase over the years. Consequently, prices have reached record highs at auction houses around the world. The rarity of the coin and its historical significance make it a highly coveted item for collectors and investors alike.
With only about 120-130 rare silver coins remaining, the 1974 Flowing Hair Silver Dollar is the most expensive coin ever sold. In fact, the coin sold at auction in 2013 for just over $10 million. Certainly, this makes the 1794 Flowing Hair Silver Dollar an iconic and precious coin.
Austin Rare Coins & Bullion is a reputable dealer in American coins and precious metals. Above all, they have 30-plus years of experience helping collectors and investors make informed decisions. Austin Rare Coins & Bullion can give you the advice and assistance you need.