Rare 1794 silver dollar goes unsold at auction in Las Vegas
LAS VEGAS (AP) — A 1794 silver dollar believed to be among the first ever minted in the U.S., and the most valuable, went unsold during a public auction in Las Vegas.
Legend Auctions chief executive Matthew Bell said offers for the coin dubbed the Flowing Hair Silver Dollar didn’t reach a minimum bid and Las Vegas resident Bruce Morelan retained ownership.
Morelan sold 12 rare coins during the Thursday event at the Bellagio resort, reaping almost $4 million.
Coin collecting experts had thought the Flowing Hair coin could sell for more than the $10 million Morelan spent to buy it in 2013.
The coin features images of Lady Liberty ringed with stars on the front and an eagle on the back. A different Lady Liberty image was adopted for silver dollars beginning in 1795.
Experts say the coin is one of perhaps 300 original silver dollars that still exist among 1,758 struck in one day at the first U.S. Mint in Philadelphia.
It has been certified as authentic and its previous sale eclipsed the $7.59 million that a collector paid in 2002 for a 1933 $20 U.S. gold double-eagle coin.