Before the advent of credit cards, debit cards, and bitcoin, there was time when currency and coins were king. And if you are lucky enough to inherit a coin collection, you should immediately check to see if you own the most expensive coin in the world — the 1794 Flowing Hair dollar. What is is worth? That coin sold for more than $10 million ($10,016,875 to be precise) at auction in January 2013. Now that’s serious coin, my friend!
So what makes the Flowing Hair dollar so valuable? The Flowing Hair is extremely rare, of course; it was the first dollar coin issued by the national mint of the United States federal government (the Philadelphia Mint). Some numismatists (coin collectors) believe that the coin was touched by George Washington. Although the dollar coin was authorized by the Coinage Act of 1792, the silver coin was not produced until 1794; a second production was authorized in 1795.
The Flowing Hair dollar coin, based on the Spanish dollar, was designed by engraver Robert Scot. On the front (obverse), the coin features a bust of Liberty facing right, with long flowing hair falling on her neck. The reverse of the coin features an eagle with elevated wings, surrounded by a wreath. The coin measures 39 to 40mm in diameter and weighs 26.96 grams. Only 1,758 Flowing Hair dollar coins were produced during an initial production (October 1794) and an additional 3,810 coins in May 1795. In October of 1795, the rather stoic bust of Liberty was replaced by a more refined, feminine bust of Liberty designed by artist Gilbert Stuart based on what is believed to be a profile of socialite Ann Willing Bingham; this coin is referred to as the Draped Bust dollar coin. The Draped Bust silver dollar has sold at auction between $2.3 and $4.12 million. A rare 1804 Draped Bust dollar (1 of 8) sold at auction by Stack’s Bowers Galleries and Sotheby’s on April 1, 2017 fetched $3.3 million. It was a coin from a five-part sale of a coin collection, consisting of 650 coins, belonging to Mack and Brent Pogue (two Dallas real estate developers), that netted a total of $106.7 million. The father and son coin collectors sold the collection because “the thrill of the chase” had passed, and they wanted to focus their attention on other matters.
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For further reading: https://coins.thefuntimesguide.com/most-expensive-coin/