Silver Dollar Sets New World Record
A rare 1794 U.S. silver dollar has set a record price. The Neil/Carter/Contursi specimen 1794 Flowing Hair Silver Dollar sold for $7.85 million. What makes this particular coin so rare is that it is the finest known 1794 dollar and several experts believe this could be the first silver dollar ever struck by the United States Mint.
The coin was sold by Steven L. Contursi, President of Rare Coin Wholesalers of Irvine, California, to the nonprofit Cardinal Collection Educational Foundation in Sunnyvale, California. Contursi has had the coin since 2003, acquiring it for a price he's only ever defined as "millions of dollars." He has displayed the coin in cities around the country and had a custom wooden exhibit case constructed so it could be seen more easily. When it wasn't on tour it was a featured exhibit at the American Numismatic Association's Edward C. Rochette Money Museum in Colorado Springs, Colorado.
The record price bests the old record of $7.59 million set for a U.S.-minted 1933 $20 gold piece, according to the American Numismatic Association. Martin Logies, curator of the Cardinal Collection, a nonprofit dedicated to preserving rare coins, told the AP that the foundation plans to display the coin and show it to the public. He said that the coin is without a doubt the earliest struck of all pieces extant. He should know, he is the author of "The Flowing Hair Silver Dollars of 1794" and has done extensive research on these historic coins.