Did you know that you might own a piece of history?

A historic and scarce coin has been the talk of the town, and if you own this coin, you could end up $10 million richer.

Did you know that you might own a piece of history? A historic and scarce coin has been the talk of the town, and if you own this coin, you could end up $10 million richer. Whether you collect coins for their historical significance, artistic designs, potential investment value, or just the thrill of the hunt, this one is bound to pique your interest.

If you are uncertain whether you own this scarce piece of history, you might want to double-check some of the following characteristics to ensure its authenticity:

This silver dollar has people turning it over twice

The United States started using coins as a medium of exchange and/or legal tender in March 1793. The Mint produced approximately 11,178 copper cents until the very first silver dollar was minted in 1794. This specific silver dollar was only minted until 1794 before it was replaced with the Draped Bust design.

The design of the first silver dollar was consigned to the Mint’s first official Chief Engraver, Robert Scott. The inspiration for the United States’ first silver dollar came from Joseph Wright’s design of the 1793 cent. Scott’s design of the 1794 silver dollar came to be known as the “Flowing Hair Design.”

The Mint struck approximately 2,000 coins, but 242 were rejected due to poor quality strikes. They either lacked the desired definition or were off-centre. Per The Coins & History Foundation, the director of the Mint, David Rittenhouse, received permission to circulate the 1,758 silver dollars as he saw fit. They ended up all over the country, with one in particular ending up in the ownership of President Washington. Along with the mint was a note that read:

“The silver coin of the U.S. bears upon its face so much neatness and simplicity, that I cannot restrain myself from transmitting a dollar for your inspection.” – Director Rittenhouse.

According to PCGS, the 1794 silver dollar only has about 150-200 survivors, highlighting its rarity. A silver dollar, in mint condition and with a specific die state, was auctioned for $10,016,875 at Stacks Bowers. The condition of the silver dollar will determine its worth. Someone managed to auction one in the worst possible condition for $17,000. According to Stacks Bowers, varying from worst to mint condition, the total money you could earn varies from:

This is what you should look for on your coin

As mentioned, before you decide to auction up your coin, be sure that it has the following characteristics to ensure its authenticity:

Obverse

Reverse

Singing

Die State:

Per Numista, the silver dollar is a circular bullion coin of 999 silver. The bullion weighs about 26.7g, is 39mm in diameter, and is 2.90mm thick.

Some coins will make you rich. We are sure most of you are digging out the old numismatics from the closet, eager to see whether the 1794 silver dollar is in your possession. Remember, always check the coin’s authenticity, and if you are uncertain of its value, have the coin appraised by a professional.