On Jan. 24, a silver dollar went for a cool $10 million at a Sack's Bowers auction in New York. According to a number of reports this looked into this sale of the rare coin that came into being in 1794, this recent purchase of the scarce currency illustrates Lady Liberty in profile while looking to the right. She is surrounded by stars that represent every state in the union at the time of issue.
So why did this coin bring in so much cash?
For starters, the reason is because experts say this is the first American metal dollar struck by the U.S. mint. Known as the Flowing Hair Silver Dollar, this particular version from the Cardinal Collection is also said to be in the best shape of any still in circulation. In addition, the particular design on this particular silver dollar reportedly was only used in 1794 and 1795.
Beyond that, and possibly most interesting, MSN by way of the Orange County Register reports that this very coin could actually have been "touched by George Washington, Thomas Jefferson and Alexander Hamilton..."
And so who purchased such a rare find?
It was Laura Sperber of Legend Numismatics, a New Jersey-based rare-coin company. The free-spending firm put out a statement saying,
"We felt in our heart that this would be the very first coin to exceed the $10 million barrier in auction."
Legend Numismatics, who is reportedly not in the market to sell this scarce money piece just yet, said that they were "prepared to bid much higher in order to acquire this unique piece of history."
And so, while David Bowers, chairman emeritus of Stack's Bowers Galleries, said the coin has no equal, even in a museum, this particular silver dollar went for $10 million at auction, striking gold in the New York auction where the bidding began and ended with a purchase by a New Jersey buyer in the business of rare coins.