Coin collectors could go serious lengths to buy rare pennies. And proof of that is the sale of a superb condition silver dollar made in 1794 that experts believe is the first silver dollar ever struck by the United States Mint. It was sold recently for $12 million by GreatCollections Coin Auctions of Irvine, California.
Belonging to Vegas business executive Bruce Morelan who purchased it for $10,016,875 in 2013, the coin is believed to be the rarest of its kind. It previously belonged to Amon G. Carter Sr., a former publisher of the Fort Worth Star-Telegram newspaper.
Commenting on it, Ian Russell, president of GreatCollections, said, “Because of its sharpness of detail, researchers believe this coin was especially struck, perhaps as a presentation of the country’s first dollar coin. Because of its significance, it was likely seen by President George Washington, Treasury Secretary Alexander Hamilton, and then-Secretary of State Thomas Jefferson, who oversaw the young United States Mint. Without question, this is America’s most coveted silver dollar, a national numismatic treasure. It gave me chills closing the transaction for this piece of history.”
He further added, “Only about 140 still survive, and this 1794 silver dollar is the only known specimen-striking, substantially better than the examples in the Smithsonian Institution’s National Numismatic Collection and the American Numismatic Association museum.”
Featuring the date 1794 with a symbolic female representation of liberty as well as the word LIBERTY, the coin has been authenticated and graded as a superb, mint state 66 on the numismatic grading scale of 1 to 70. by experts at Professional Coin Grading Service.
Noting on the sale, Morelan, 60, said, “Coins are in my blood, and the 1794 dollar was a lifelong dream. I’m truly blessed to have owned it and hope the new owner has as much joy, pride, and satisfaction as I did.” Well, lucky for the new owner who now claims one of the most valuable silver coins in the world!
[Via: Review Journal]