Dec 23, 2013

Which is the most expensive coin in the world? The flowing hair silver dollar of 1794

On January 24, 2012, Stack Bowers auctioned a "flowing hair" silver dollar of 1794 for a staggering $ 10.016.875 (including a 17.5 percent buyer's fee). Almost one year later, it remains the highest price ever achieved at an auction for a coin. The previous 7.5 million record was set in 2002 for a 1933 Double Eagle.

LegendNumismatics, a rare-coin firm, bought the coin, and its chairman, David Bowes, declared he was prepared to bid even higher in order to acquire it. Why is this coin so valuable? Because many experts believe it to be the very first dollar struck by the U.S. mint in 1794, the year in which the American government issued silver dollars for the first time. It is also the finest example known of this early issue. For all this reasons, this is an iconic coin, surely one of the most important numismatic objects in American history.

Legend numismatics still owns the coin and the firm will surely not offer it at a public auction any time soon betting its price will go up with time.