Reference price
$12,000,000
Mintage: 1
Diameter: 39.5 mm
Thickness: 2 mm
Weight: 26.96 grams
Designer: Robert Scot
Metal Composition: 89% Silver – 11% Copper
This particular 1794 Flowing Hair Silver Dollar is an extremely rare variety that stands out for featuring a silver plug in the middle. It is considered one of the rarest and most valuable US coins in existence. Some experts even believe it could be the very first official US dollar piece ever made, created on October 15, 1794, and preserved in pristine condition ever since, devoid of any contact with other coins or bags. Struck using newly polished and perfectly aligned dies, this coin’s die state is identical to copper trial dies and has none of the die clashing or misalignments present in all other 1794 pieces. While minor weight adjustment filing marks are present, this coin is a practically flawless specimen, offering compelling evidence that it is the earliest and first-ever US dollar strike.
During 1794 and 1795, some coins began as silver blanks that were weighed individually to ensure they contained the authorized amount of silver. If a piece was overweight, it had to be filed down until it met the weight standards. Alternatively, some coins were weight-adjusted by inserting an 8mm circular silver plug in the middle of the planchet before striking it into a US dollar. Identifying coins with silver plugs can prove challenging due to their similar metal content and design. However, a slight color distinction may exist, and parts of the circular outlines of the plug could be visible on the middle of the liberty bust portrait on the obverse and the eagle portrait on the reverse of the coin.
