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Rare 1794 Silver Dollar Sets World Record Price at $7.85 Million


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The record has been raised by a very deserving coin!


More information from this article: http://www.coinnews.net/2010/05/20/rare-17...t-7-85-million/ . Some of the more interesting quotes below:



"This is a national treasure, and I’ve proudly been its custodian since 2003," said Contursi. "I never wanted to simply hide it in a vault because this coin is to our economy and international trade what the Declaration of Independence was to our country’s freedom: a significant piece of history and a national treasure."


A total of 1,758 silver dollars were recorded struck on a hand-turned screw press at the Mint in Philadelphia on October 15, 1794, the only day of production for dollar coins that year. They were made from silver provided by then Mint Director David Rittenhouse, and intended to replace the Spanish, English, Dutch and French coins that dominated local commerce and "pocket change" of the post-Colonial era.


Logies estimates there are only about 140 surviving examples, and the Neil/Carter/Contursi specimen is unique among them.


"It’s the finest in state of preservation and unique for 1794 with a silver plug. It’s also unique in being from the earliest state of the dies. Despite the almost barbaric conditions at the Mint at the time, this coin was struck incredibly well.


In fact, when the coin is viewed in its natural state outside of its PCGS holder, it blazes with a character all its own, showing off lovely light toning atop supremely deep, watery mirrored fields and frosted devices in black-and-white cameo contrast, not unlike late 19th century proofs. It is certainly impressive and was clearly viewed as important on the day it was made, the hallmark of a first strike," he stated.

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