1794 silver dollar sells for record $7.85 million

Not that i don't understand the importance of that piece, but how it ever graded 66 i certainly do not get! Most likely because i am not well educated when it comes to early us type. But those scratches are really bad! Are they filing marks used to adjust the weight of the blank? somebody please school me on this one.

 

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Spinks NYC Carnegie sale Sept 1982 @ $13500 + 5%.

 

1794 silver dollar sells for record $ 7.85 Million

Check this Out! I look on my REDBOOK Issued 2011 on Top 250 Coin Realized at AUCTION.

The Highest Paid is on number 34

for $ 1,150,000.00 Silver 1$ 1794 NGC MS64 STACK's Jun 2005

Number 60

for $ 747,500.00 Silver 1$ 1794 NGC MS61 HERITAGE Jun 2005

Number 97

for $ 577,500.00 Silver 1$ 1794 Gem BU Stacks Nov.2005

For the grade of MS66 to jump for almost 8 million US $ againts MS64 for $ 1,150,000.00 It is a Big Difference for 2 POINTs This is called GRADING!!

by the number of points. WHEw... urghh.. That's is why when I look to all Proof Coin I have and try to seperate it individually For grading I am almost Breathless and cover my mouth not to drop any on it!

This is all for Now..
8 Million US Dollar for 1794 ONE DOLLAR COIN... What a HOBBY of a KING!!!
:hammer:

 

I do NOT UNDERSTAND too ! MS 66? We love to see the MS64 sold for $ 1,150,000.00 on Jun 2005 by stack. It is good to see both coin photograph of MS64 by NGC 1794 1$ silver againts PCGS MS66 1794 1$ silver.. So that we could learn the differences of grading..by points.:hammer:

 

Remember guys... the grade of this coin is NOT MS66!!!!

The correct grade given by PCGS is SP66!!!

Big difference in the coin being called a "specimen" as part of the appeal of this particular 1794 Dollar is that it is unlike the other MS examples and was apparently specially made. Some argue it was a special presentation piece, some argue it was the very first Silver Dollar ever made.

Here are some of the thoughts posted on the CU Forum by this special dollar's new owner:

"Like many coin stories, much has been said about this coin, some true, some false, and some pure speculation, and it can be difficult to sort fact from fiction:

The coin is from the earliest known state of the dies, the only die state showing no die wear or damage....fact.
The coin is currently the only known specimen in existence from the earliest die state....fact.
The coin is in a superb state of preservation....fact.
The coin does not possess the handling marks common to most 18th century coinage....fact.
The coin does not possess the weakness of strike common to virtually all other 1794 dollars....fact.
The coin possesses fully mirrored prooflike surfaces...fact.
The coin possesses sharply squared off rims....fact.
The coin possesses prooflike surfaces, free from handling marks, on the edges of the coin....fact.
The coin was struck on a specially-prepared planchet....fact.

The coin was struck with a special purpose in mind....unproven, but circumstantial evidence suggests this likelihood.
The coin was held in the U.S. Mint collection until sometime in the 1800s....undocumented speculation
The coin was traded from the Mint collection to a private collector....undocumented speculation based on documented cases of such trades.

The truth is, there is no known documentary evidence of any coins being struck by the U.S. Mint in the late 18th century specifically for presentation purposes or specifically for collectors. However, it is self-evident from the coin itself that it was not a normal striking like so many other coins produced at the time. It is on that basis that PCGS certified it as a "Special Striking." It has not been labeled a proof, nor a "presentation piece," just labeled as a "special" strike. Anyone who disagrees with that assessment has not examined the coin closely outside its holder. "

 

OK! is not MS66 but SP66... Silver Proof 66? SP as SPECIMEN66 Which one is correct? SP as Special Presentation Piece. WOW! SPECIAL PIECE of HISTORY 1794 silver dollars Now is the Most valuable Coin in the world.
I need to add this 2 letters abbreviation SP as in Numismatist terms SPECIMEN or Silver Proof....
Breaktime.. I need to eat now my SPECIAL PIE ...

 

Wouldn't have guessed the new owner of this coin would be at CU, in a million years.

 

New York Times article

http://www.nytimes.com/2010/05/24/us/24record.html


Now, maybe we will see a jump in the value of the 1795 Flowing Hair dollar. I have one in VF30.

 

Another thing to remember when looking at the $7.85 million price paid for the coin is that the coin was purchased by a charitable organization. Presuming that the donor to the organzation is a very high income CA resident (approximate 45% combined Fed and CA income tax rates), a deductible donation of $7.85 million would save the donor approximately $3.5 million in Fed and CA income taxes. So the net price paid for the coin (assuming one donor who could deduct the entire contribution) is only about $4.35 million. Doesn't sound so expensive now, does it????

 

Only if you are giving away $4.35 million.

 

I thought the SP was for Silver Plug.

 

funny!

 

No this coin nor any of the 1794 dollars,has NEVER held the record for highest sale price. The first $100K was either the 1913 V nickel or the 1804 dollar. The two coins sold as a pair for $180K so it is a bit unclear which was the $100K and which was the $80K coin. They weren't $90K each because it was specificly reported that one was 100K.

Maybe, but under that theory every plugged or adjusted pice was struck on a "specially prepared planchet"

Possible but unlikely. Since all the silver used for the 1794 dollars came from and was owned by Mint Director Rittenhouse the coin would have belonged to him. He may have donated it to a dignitary, but it would NOT have gone directly into the Mint collection since that collection was not begun until years later.