Jan 31 2008
The Value & History of Early Silver Dollars
On June 30, 2005 the fate of the early American silver dollar coin changed forever. A 1794 Flowing Hair silver dollar was graded by Numismatic Guaranty Corp. as an MS-64 and sold for $1,150,000.00.
Did your mouth drop open when you read that number? So did mine!
Now 1804 silver dollars are expected to command that much attention as well as that kind of money due to their scarcity and demand. But, as the article at Numismaster.com says, ‘to say that a price of more than $1 million for a 1794 dollar was unusual would be putting it mildly.’
1794 is, without a doubt, historic but there may be 135 known to exist and a few of those in Mint State. Coins with over 100 examples known don’t usually bring in more than $1 million. But the rise in value for the early silver dollars didn’t stop with the 1794 Flowing Hair.
A 1795 MS-65 brought $230,000.00 and later a 1776 Continental Dollar graded MS-64 brought $126,500.00. Shortly thereafter an 1802 bust dollar graded MS-65 sold for $247,250.00. What this means is that Bust dollars ‘have apparently found an audience of collectors and that audience is willing to pay top prices for the best early dollars of the U.S.’
To read an excellent and engaging history of how America first came to issue silver dollars, check out the full article at Numismaster.com. The article also details the creation of the highly coveted 1804 dollar, and explains why you’ll never dig one up.
Articles like this make you want to run out to those Colonial sites you know about and spend a few days combing every inch, huh?
