R85 000 000.00 for a silver coin

[Pierre_Henri 80]

The founding fathers who OK'd the first mintage of USA coinage must be turning (actually spinning) in their graves.

 

Rare 1794 silver dollar sells for record $10m - International | Moneyweb

 

Now THAT is what I would call the (a?) MIGHTY Dollar ...

[jwither 17]

I was wondering how long it would take someone to notice this coin and its sale.

 

And for the record, I do not think this coin is worth more than many others (from both the United States and elsewhere) that I think have more or much more going for them either. The purported reasons for this price are apparently primarily due to:

 

First, it is believed to be the first US dollar struck by the US mint in Philadelphia. (The most recent seller reportedly performed research and published a reference stating this and no doubt, this should have increased the sale price.) By this, I refer to US coinage authorized by the Mint Act of 1792. The Continental Currency dolllars of 1776 I do not know the origin.

 

Second, it is a "conditional" rarity (as if that should even matter) "specimen" (SP) 66 graded by PCGS.

 

The 1794 dollar is a very significant coin and it has always been popular as the first year of issue for the denomination particularly due to its size. But this needs to be considered in the context that reportedly as many as 130 still exist, though most of these are presumably or probably problem coins not eligible for an NGC or PCGS grade.

 

However, by my reckoning, 130 is still 130 and I would much rather have other coins that are much scarcer assuming I had this kind of money to "invest". (I believe even VF specimens now sell for $1MM or more.) For example, the ZAR 1898 "Single 9" pond, 1822 US $5 gold (my #1 US coin), any number of other US coins or the elite from the Spanish colonial pillar coinage I also collect.

 

Pierre, I also tried to reply to your PM in reply to mine. I could not. Apparently, your in-box is full!

[Pierre_Henri 80]

Pierre, I also tried to reply to your PM in reply to mine. I could not. Apparently, your in-box is full!

 

Sorry for that, I have emptied it now.