In August 2021, a historic numismatic event took place when the finest-known 1804 silver dollar sold for $7.68 million at a Stack’s Bowers Galleries auction. Known as the “King of American Coins,” this iconic coin set a new record, becoming the fifth-most-valuable U.S. coin ever sold. Let’s explore the details behind this extraordinary piece of history.
What Makes the 1804 Silver Dollar So Valuable?
The 1804 Draped Bust silver dollar is one of the rarest coins in the United States, prized for its historical significance and remarkable condition. Graded Proof-68 by PCGS, this specific coin is the best-preserved example among the “Class I Originals.”
Key Features:
- Year: Produced as a diplomatic gift in 1835.
- Grade: Proof-68, the highest known for this coin.
- History: Presented to the Sultan of Muscat and held in only four private collections.
Its exceptional preservation and illustrious provenance make it highly sought after by collectors worldwide.
A Journey Through History
The story of this coin began in 1835, when it was minted for diplomatic purposes. Delivered to the Sultan of Muscat, it later appeared in a 1917 London auction, marking the beginning of its public prominence.
Ownership Timeline:
| Owner | Year Acquired | Significance |
|---|---|---|
| Charles A. Watters | Early 1900s | First private collection. |
| Virgil M. Brand | 1908 | Notable collector of rarities. |
| Childs Family | Mid-20th Century | Part of the Childs collection. |
| Pogue Family | 1999 | Purchased for $4.14 million. |
2021 Auction Milestone
On August 17, 2021, this coin broke records once again. Sold during Stack’s Bowers Galleries’ Rarities Night, it fetched a staggering $7.68 million, surpassing its previous sale price of $4.14 million in 1999.
Ranking Among U.S. Coins
This 1804 silver dollar is now:
- The fifth-most-valuable U.S. coin ever sold.
- The second-most-valuable silver dollar, following the 1794 Flowing Hair dollar.
Preservation Tips for Collectors
If you own valuable coins, here are some tips to keep them in pristine condition:
- Handle with Care: Use gloves to avoid damaging the surface.
- Proper Storage: Store in acid-free holders or cases.
- Avoid Cleaning: Harsh cleaning can reduce value.
Conclusion
The 1804 Draped Bust silver dollar is more than a coin—it’s a piece of history that showcases America’s cultural and numismatic heritage. Its $7.68 million sale in 2021 reaffirms its unmatched value in the numismatic world. Collectors and enthusiasts alike continue to marvel at its story, solidifying its place in history as a true treasure.
FAQ’s
Why is the 1804 silver dollar called the “King of American Coins”?
Its rarity, exceptional quality, and historical significance earned it this title.
What is the current record for the most expensive U.S. silver dollar?
The 1794 Flowing Hair dollar, sold for $10 million in 2013.
Can I still find an 1804 silver dollar today?
It’s extremely rare, with only a few known specimens, all in private collections or museums.