About Uncirculated 50 1794 silver dollar goes to auction
- Published: Nov 3, 2014, 8 AM
A 1794 Flowing Hair silver dollar that has been in the possession of a family in England for several decades will be offered in a Jan. 27 auction in New York by Spink. The coin will appear in the firm's Numismatic Collector's Series Sale.
Spink had the coin in its NGC holder displayed at its bourse table Oct. 30 to Nov. 1 at the Whitman Baltimore Expo.
Luke Mitchell, a numismatist at Spink, said Nov. 3 that the coin currently carries an estimate of between $300,000 and $500,000. That estimate will likely be modified, he said, since the Matthew A. Stickney specimen of 1794 Flowing Hair dollar, also certified NGC AU-50, CAC, will be offered by Heritage Auctions Nov. 14 in Part V of selections from the Eric P. Newman Collection.
"This [estimate] is still very much subject to change as we conduct more research and observe trends in this very small, upper echelon market," Mitchell said.
Concerning information about the 1794 Flowing Hair dollar to be offered by Spink and the consignor, "all we really know is that it was found during a valuation day that our London office held in a town in the South of England," Mitchell said Nov. 3. The valuation, or appraisal event, was held June 13, Mitchell said.
"The family had no idea as to the value of the coin nor how the coin had been acquired," Mitchell said. "They did know, however, that it had been with them for at least the last 'several decades.' "
Fewer than 150 examples of the 1794 Flowing Hair dollar, the first silver dollar series to be issued by the United States Mint, are known extant from a purported mintage of 2,000 coin, of which 1,758 pieces were delivered by the chief coiner. The entire mintage is from a single pair of dies and is attributed as the Bowers-Borchardt 1 variety in Silver Dollars & Treade Dollars of the United States: A Complete Encyclopedia by Q. David Bowers, with Mark Borckardt.
The finest known example, graded Specimen 66 by Professional Coin Grading Service, is believed by some to be the first one of the series struck. The coin set an auction record for a single U.S. coin when it brought $10,016,875 in the Stack's Bowers Galleries Jan. 24, 2013, sale of The Cardinal Collection.
For more information about the Jan. 27 auction by Spink, visit the firm online.
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