1794 $1 F12 OGH PCGS CAC

Paradime Coins is absolutely proud to offer the single rarest issue in the entire U.S Numismatic Series, ex Bruce Sherman, exH. Rolland Willaschex - 1794 Flowing Hair Silver Dollar, graded Fine 12 by PCGS in an OGH and certified by CAC. Representing an iconic first in United States coinage history, as the inaugural silver dollar struck by the Philadelphia Mint, the 1794 dollar is revered as one of the most historically significant and desirable early American coins. Attributed as B-1, BB-1, Bowers-Borckardt Die State III, this coin original surfaces, and the unmistakable appeal of an authentic piece of America’s numismatic foundation offers collectors an opportunity to own a much more accessible example of this classic rarity which has fetched and are valued at $10,000,000 to $15,000,000 in a higher Mint State grade.

The Philadelphia Mint struck only 1,758 silver dollars in 1794, a modest mintage constrained by several challenges. Although the Mint Act of 1792 authorized production of silver coinage, the work was delayed for nearly two years because Assayer Albion Cox and Chief Coiner Henry Voigt were unable to satisfy the extraordinarily high $10,000 bonding requirement mandated by Congress. This impediment was finally removed in 1794, thanks to Thomas Jefferson’s intervention, which persuaded Congress to reduce the bond to $1,000 for Cox and $5,000 for Voigt. Once these bonds were secured, the Mint could legally handle silver and begin production of silver dollars. The bullion for the 1794 dollars was personally deposited by Mint Director David Rittenhouse, who made two deposits on August 29, 1794, totaling just over $2,000. These deposits allowed the Mint to produce approximately 2,000 silver dollars, although only 1,758 were deemed acceptable and delivered to the Treasurer on October 15 of that year. The coins were then distributed privately by Rittenhouse himself. The small mintage was dictated by the limited capability of the Mint’s press, which was originally designed to strike half-dollar planchets and lacked the strength to fully impress the larger dollar dies. Consequently, most 1794 dollars, including this specimen, exhibit soft striking on the lower-left obverse and corresponding area of the reverse—an unmistakable hallmark of the issue. Many pieces from the initial mintage were so poorly struck that they were melted and restruck the following year after a more powerful press was acquired.

The present example is an evenly worn and aesthetically pleasing Fine 12 specimen. Both obverse and reverse are draped in natural shades of medium steel-gray. On the obverse, LIBERTY and the stars remain clearly legible despite wear - which is truly a unique attribute considering most even in XF LIBERTY is not visible. Liberty’s flowing hair and profile stand out faintly against the darker fields. The reverse retains a consistent steel-gray with the eagle, wreath, and legends slightly lighter from wear. A few prominent planchet adjustment marks are visible at the lower obverse rim, as is typical for the series, yet the surfaces remain clean and free of distracting abrasions for the assigned grade.

The 1794 Flowing Hair dollar remains one of the most coveted and historically significant issues in U.S. numismatics, each example a tangible connection to the fledgling Republic and its earliest aspirations for a national coinage. Of the estimated 140 survivors in all grades, this Fine 12 CAC-approved specimen stands out for its originality, even wear, and prestigious pedigree—an enduring testament to the artistry and resolve of the early Mint and a prize for any advanced collection. In all grades only approximately 22 pieces have been CAC Certified and this is simply put the most affordable.

Ex Bruce S. Sherman Collection; earlier Heritage’s August 2013 sale, lot #5683; earlier Bowers’ November 1991 Frontenac Sale, lot #2196; earlier Superior’s May 1990 sale of the H. Rolland Willasch Collection, lot #425; earlier Stack’s September 1964 sale of the Irl S. Baker Collection, lot #1206.

PCGS Cert Verification #03156581

• PCGS Price Guide -$250,000
• PCGS POP - 10/79
• CAC Price Guide - $210,000
• CAC POP - 2/20
• PCGS Coin#  6851