Lot 1790
1795 Flowing Hair Dollar. NGC graded EF-45. 2 Leaves. B-1. 9 berries left, 10 berries right rev. Wide Date. Nice light grey toning. Well struck (PCGS # 5846) .
The mintages were small throughout 1794-1803 because little demand existed locally for silver dollars. The first United States Mint struck coins to order, for the most part. Bankers and others deposited silver and gold with the Mint, which the Mint's workers turned into coinage and then transferred to the owners of the precious metals.
Those depositing silver with the Mint in those first years preferred the more convenient half dollars to the silver dollars, ordering more of the smaller denomination than the larger. As best as we can understand, the silver was too cumbersome for small transactions but too small for convenient transportation or storage of large sums. Many 1794-1803 silver dollars were melted.
Striking silver dollars that were only going to be melted (or exported) wasted the Mint's production capacity, which is why production ceased after 1803 (possibly under the orders of President Jefferson). The halt in silver dollars proved more than momentary. The denomination wouldn't be struck for circulation again until 1840, at the second Philadelphia Mint.
Estimated Value $10,000 - 12,000.
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| Realized $12,075 |
