The 1794 Flowing Hair Silver Dollar isn’t just an old coin—it’s the first silver dollar ever struck by the United States 🇺🇸. With fewer than 150 surviving today, this historic rarity has reached legendary status in the numismatic world.
One extraordinary example—known as the “Silver Plug” variety—shattered records when it sold for an astonishing $12 million at a 2022 auction. Let’s explore why this coin is so special and how it became one of the most valuable coins on Earth.
🏛️ Why the 1794 Flowing Hair Dollar Matters
This coin was more than money—it was a symbol of a new nation finding its identity. Just years after the U.S. Constitution was adopted, America struck its very first silver dollar.
- 🪙 Authorized by: The Coinage Act of 1792
- 🏭 Minted at: Philadelphia Mint
- 🔢 Mintage: Only 1,758 coins produced
- 📉 Survivors today: Less than 150 known
The 1794 Flowing Hair Dollar is considered the foundation of the U.S. monetary system, making it a true icon of American history.
🔍 Design & Details of the Flowing Hair Dollar
- 👨🎨 Engraver: Robert Scot, the first Chief Engraver of the U.S. Mint
- 🪞 Obverse (Front): Lady Liberty with flowing hair, surrounded by 15 stars representing the states
- 🦅 Reverse (Back): A delicate eagle inside a wreath, with the legend “UNITED STATES OF AMERICA”
- ⚖️ Composition: 89.2% silver, 10.8% copper
- 💎 Weight: 26.96 grams (nearly a full ounce of silver)
💎 The “Silver Plug” – A Rare Minting Marvel
The most valuable variety of the 1794 dollar is the Silver Plug version.
👉 What Is a Silver Plug?
Early coin blanks (planchets) were often imperfect. If one weighed too little, mint workers added a small silver plug to bring it up to standard before striking.
🌟 Why Collectors Love It
- Only 3–5 Silver Plug coins exist today
- One graded PCGS Specimen-66 (near flawless)
- Features sharper details, stronger strikes, and a visible silver disk in the center
This is the very coin that sold for $12 million in 2022. Some experts even believe it may have been the first silver dollar ever struck, possibly presented to George Washington himself.
📈 The Record-Breaking Auction Sale
- 🪙 Coin: 1794 Flowing Hair Silver Dollar (Silver Plug)
- 🏆 Grade: PCGS SP-66
- 🏛️ Auction House: Stack’s Bowers, 2022
- 💰 Final Price: $12,000,000
This sale not only made headlines worldwide—it also redefined how much early U.S. coins could be worth.
⚠️ Myths vs. Facts
❌ Myth: All 1794 dollars have silver plugs.
✔️ Fact: Most do not—plugged examples are the rarest of the rare.
❌ Myth: You might find one in an attic or pocket change.
✔️ Fact: All surviving examples are well-documented. Any “new discovery” is almost certainly counterfeit.
🛠️ How to Spot a Genuine 1794 Dollar
- ⚖️ Weight: Should be ~26.96 grams
- 🧲 Non-Magnetic: Must contain real silver
- 📏 Edge Lettering: Reads “HUNDRED CENTS ONE DOLLAR OR UNIT”
- 🏆 Certification: Always verify with PCGS or NGC
🏆 A Collector’s Dream Come True
Even worn 1794 Flowing Hair Dollars (without plugs) can fetch $250,000 to $1 million today. The $12 million record-holder is simply the crown jewel of American numismatics.
- 🌎 Cultural Icon: Lady Liberty’s flowing hair represents freedom and early American ideals
- 💸 Market Impact: Set a new standard for rare coin prices
- 🔑 Modern Value: Any 1794 example is a six- or seven-figure prize
📚 Learn More at PennyVerse.info
At PennyVerse.info, we help collectors uncover the truth behind America’s rarest coins:
✅ Free Guide: “Early U.S. Coin Rarities Checklist”
💬 Community Forum: Join collectors sharing finds & stories
🔎 Expert Help: Get real opinions on authenticity and value
Because every coin has a story—and some are worth millions. 🏛️💰
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