If you have a rare coin lying unnoticed in your collection, it could be worth a fortune. One such coin, the 1794 “Flowing Hair” Silver Dollar, is valued at a staggering $10 million. This historic artifact not only carries monetary value but also reflects the rich heritage of the United States’ early days. With only about 150 of these rare coins believed to exist today, owning one is akin to winning the lottery.
Numismatics in America
The study or collection of coins, known as numismatics, evaluates coins based on three factors: rarity, condition, and demand. The U.S. journey into minting coins began after the Coinage Act of 1792, which authorized the creation of copper, silver, and gold coins for circulation and special occasions.
The first U.S. Mint, established in Philadelphia, began producing coins under meticulous processes. One of the earliest and most celebrated rare coins minted was the 1794 “Flowing Hair” Silver Dollar, a symbol of the country’s aspiration for financial independence.
Lady Liberty “Flowing Hair” Coin
In 2013, a 1794 “Flowing Hair” Silver Dollar sold at auction for an unprecedented $10 million, setting a world record for collectible coins at that time. The coin’s value is comparable to purchasing a luxury mansion in Miami. While the 1933 Double Eagle surpassed this record by selling for $19 million in 2021, the Flowing Hair dollar remains one of the most sought-after rare coins due to its historical importance.
Minted in October 1794, only 1,758 Flowing Hair dollars were struck, primarily for presentation to dignitaries. Of those, fewer than 150 are believed to exist today, further enhancing their rarity and value.
The Historical Significance
The Flowing Hair Silver Dollar was minted during a time of transition for the newly formed United States. It symbolized the country’s ability to create its own currency, a crucial step in establishing its financial independence post-Revolutionary War.
The coin’s design, featuring Lady Liberty with flowing hair, was inspired by ancient Roman representations of liberty and freedom. It was intended as a statement of the United States’ sovereignty and artistic prowess.
The Rarity of the Flowing Hair Dollar
Experts believe that the Flowing Hair dollar auctioned in 2013 may be the first coin ever struck using the original die. Its exceptional detail and pristine condition contribute to its $10 million value. Features such as Liberty’s defined curls and the fine nuances of the eagle’s feathers exemplify the craftsmanship of the time.
Plans for a Modern Version
The U.S. Mint has announced plans to revive the iconic design in its American Liberty silver medal series. Using modern laser engraving technology, these new rare coins aim to replicate the Flowing Hair dollar’s elegance while catering to contemporary collectors.
Where Is the $10 Million Coin Now?
The $10 million Flowing Hair dollar sold in 2013 was purchased by Bruce Morelan, a prominent numismatist. In 2022, Morelan sold the rare coin to GreatCollections auction house for an impressive $12 million, further increasing its value and legacy.
| Coin Name | Year Minted | Estimated Value | Unique Feature |
|---|---|---|---|
| Flowing Hair Silver Dollar | 1794 | $10-12 Million | First U.S. silver dollar |
| 1933 Double Eagle | 1933 | $19 Million | Rare surviving gold coin |
| 1913 Liberty Head Nickel | 1913 | $4.5 Million | Unauthorized production |
| 1804 Draped Bust Dollar | 1804 | $4 Million | Known as “King of American Coins” |
| 1861 Confederate Half Dollar | 1861 | $975,000 | Rare Confederate issue |
The 1794 Flowing Hair Silver Dollar exemplifies the intersection of history, art, and value. Owning such a rare artifact is not just about its monetary worth but also its representation of a pivotal moment in U.S. history. For numismatics enthusiasts, discovering one of these rare coins is truly akin to winning the lottery.
Why is the 1794 Flowing Hair Silver Dollar so valuable?
Its value stems from its historical significance, rarity, and pristine condition, as well as being one of the first U.S. silver dollars minted.
How many Flowing Hair dollars are left today?
Approximately 150 of these coins are believed to exist, making them extremely rare.
Can I still find a Flowing Hair dollar in circulation?
No, these coins are no longer in circulation and are mostly held by private collectors or institutions.
Found the rare coin in my grandfather’s toolbox in he’s garage