Lot 516
1794 Flowing Hair Dollar. PCGS graded VF-35. A most impressive example of this rare and most important date with excellent antique silver-grey color and defect free surfaces. Bold date and great strike with no adjustment marks worthy of note. A few marks on the obverse from normal circulation, but still gives the appearance of a full Extremely Fine specimen. The perfect grade for a collector seeking a choice example of our first U.S. silver dollar.
It is believed that all 1794 dollars were coined on October 15, 1794 from silver bullion deposited by David Rittenhouse, and all 1794 silver dollars coined on this date were delivered to David Rittenhouse (Breen and Collins, in their draft of the 1794 silver dollar manuscript). Thus all 1758 examples struck of the 1794 silver dollars can trace their pedigree to David Rittenhouse, who passed them out to friends, many of whom kept them,others were spent and circulated. The silver bullion deposited by Rittenhouse varied greatly, and there were many gas bubbles in the silver ingots, which later caused laminations and planchet cracks, which plague approximately 30 percent of the 1794 dollar population.
The 1794 silver dollar is an American classic, it is the first year of issue of our monetary unit, was struck in extremely limited quantities, and the total known population is between 130 and 140 coins in all grades. Recent sales for similar examples have been $115,000 to $130,000 (PCGS # 6851) .
Estimated Value $100,000 - 115,000.
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