Rare 1794 silver dollar sold for $109,250
While a recently auctioned silver dollar may be invaluable to its new owner, rare coin enthusiasts may be surprised to hear it sold for more than $100,000.
The International Business Times reports that a 1794 silver dollar fetched a price of $109,250. The coin was among the first ever minted by the United States. Around 2,000 coins were struck during that year, with 250 scrapped because they were unacceptable quality. Further, fewer than 150 remain in existence today, making it a highly sought-after piece.
All in all, the recent auction, held at Scotsman’s Auction in St. Charles, Missouri, more than $1.5 million worth of rare coins were sold. The majority of pieces brought to auction were sold, with only 15 percent of the available lots remaining.
While $109,250 is a lot of money, earlier this year a collector paid $7.85 billion for a similar 1794 silver dollar. Analysts found that was the first American coin to be minted and it was of exceptional quality, which drove the Cardinal Collection Education Foundation to pay such a high price for the piece.