Among coin collectors, few pieces have generated as much interest and admiration as the 1794 Flowing Hair Silver Dollar. This ancient American coin was sold with a price of more than $10 million during an auction in June of 2013 by the Stack’s Bowers in New York. The person who bought it was a private collector who paid exactly $10,016,875, a figure that became a world record for the most expensive coin ever auctioned. So, let’s learn more about this piece.
Historical value of the first silver dollar
The extraordinary value of this silver dollar is due to its rarity and its huge historical importance. The Flowing Hair Silver Dollar is considered as the first silver dollar issued by the U.S. government, which makes it a unique piece in the economic history of the country. Its existence represents the birth of the monetary system in the U.S. and the beginning of the official production of dollars in the country.
Design and symbolism
This coin was designed by Robert Scot, the first chief engraver of the United States Mint. Its design is elegant and symbolic: on the front of the coin we can see Lady Liberty with her hair flowing freely, representing freedom and youth of the new nation. Then, on the back of the coin, it appears an eagle surrounded by a wreath of branches, an image that later would evolve in the future dollars.
This classic design reflects values of independence and prosperity that describe the United States in the late of the 18th century.
A unique piece in Numismatic history
The coin belongs to the first series of silver coins minted in 1794 and, according to experts, this piece could have been the first dollar in the history of the country. This is why its historical value is incalculable.
The auctioned coin is in exceptional condition, graded Specimen-66 (PCGS) and certified by CAC, indicating it is nearly perfect in preservation. It is extremely rare for a coin over two centuries old to retain such brilliance and fine detail.
Unique details that increase its value
Its surfaces show a deep, reflective luster, similar to that of a proof coin, highlighting the fine details of every engraving. The color combines golden straw and bluish-green tones, a natural result of time and the silver composition. It also features a visible silver plug in the center, a distinctive characteristic that confirms its authenticity and enhances its historical and collectible value.
Only one variety of die was used to mint the 1794 dollars, making each example a true treasure. However, this particular Flowing Hair Silver Dollar is considered by experts to be the best-preserved specimen in existence. The precision in Lady Liberty’s hair curls and the eagle’s feathers demonstrates the exceptional craftsmanship of its creation.
A tribute to the birth of the American dollar
This historic sale of this coin for more than $10 million represented a tribute to the origin of the American coin. For numismatists, this piece is a physical symbol of the economic birth of the United States, a sample of art, and monetary engineering of its time. Each aspect of the Flowing Hair Silver Dollar tells a part of the history of how the country started to define its national identity through its money.
So, the 1794 Flowing Hair Silver Dollar is not just an old coin—it is a true national treasure. Its combination of beauty, rarity, and historical significance explains why it achieved such an extraordinary price at auction. This remarkable piece proves that, beyond metal and design, some coins can be worth millions of dollars because they embody an irreplaceable moment in the history of the American dollar. Who knows if you own one of those?