Coins
US Silver Dollar becomes first ever coin to be sold for over $10m
The 1794 Silver Dollar is the first coin to smash through the $10m barrier
A rare 1794 Silver Dollar, thought to be among the first silver dollars ever struck by The US Mint, has set a new world-record by becoming the first ever coin to be sold for over $10 million.
The ‘Flowing Head’ was auctioned at Stack’s Bowers Galleries in New York earlier this year in front of a packed crowd of collectors, investors and dealers. Chairman David Bowers said the fact it was one of the first of its kind ever struck combined with its quality and scarcity helped to push up the price among bidders.
A new world record
The coin was eventually sold to Legend Numismatics for a record $10,016,875 –
the highest price ever paid for any coin – smashing the current record of $7,590,020 paid for a 1933 Double Eagle in 2002. A spokesman for the US-based company which specialises in rare coins said afterwards it had been prepared to bid even higher for such a rare piece of American numismatic history.
One of the finest of its kind
The record-breaking coin, one of the finest known, was part of the Cardinal Collection which includes some of the oldest and rarest American coins. It features a profile of Liberty facing right with stars around the edge representing US states, a design only used in 1794 and briefly in 1795.
Although the 1794 Silver Dollar was the highlight of the auction, the total amount made from the sale of rare coins topped almost $27m.
A selection of America’s most famous and iconic coins is available here.
My top 5 sell-out stories of 2013 so far …
Less than half way into the year and a number of 2013 coins have already been making the headlines – in some cases, selling out extremely quickly. Here’s my list of top 5 sell-out coins for the year so far.
1. The Britannia ‘DateStamp’ Silver Set
With the new year came a new Britannia struck, for the first time ever, in 999/1000 Silver up from 958/1000 – bringing Britannia in line with coins like the US Eagle and Canada’s Maple Leaf and securing her position as Britain’s purest silver coin.
Featuring one of the last ‘958’ coins and one of first ever ‘999’ versions, all 495 Britannia ‘DateStamp’ Silver Sets were snapped up by collectors in just 15 days.
Other ‘DateStamp’ products are still available to buy here .
2. The Canadian Maple Leaf Premium Set
In January, The Royal Canadian Mint announced all 600 of its 2013 Gold Maple Leaf Premium Sets had sold out. This year’s set was all the more sought-after as it featured the 1 oz Gold coin in high relief – only the second ever struck by Canada.
Considering the demand for the rare high relief Gold coin and the rapid sell-out of the 2011 and 2012 versions and it’s no wonder the 2013 set sold out in weeks.
3. The Canadian Ice Hockey Silver $20 Coin
Continuing the trend of the previous six coins, the $20 Silver Ice Hockey Coin became the latest sell-out in the Royal Canadian Mint’s $20 silver coin series – now the fastest-selling silver coin series in the world – with all 250,000 pieces now officially sold out.
Every single coin in this series has sold out incredibly quickly – but none more so than the Polar Bear whose record 25 days beat even the Diamond Jubilee coin. Few doubt the next one, the Wolf, will sell out quickly but can it beat the Polar Bear?
This has now sold out.
4. The Coronation Jubilee Gold £5 Crown
This beautiful Gold £5 Coin was issued exclusively by The Westminster Collection with a tiny worldwide edition limit of just 95 pieces.
The significance of the occasion, the coin’s 22 Carat Gold content and the beauty of its designs proved popular with royalty collectors looking to mark this year’s 60th anniversary of the Queen’s Coronation – and investors keen to add this piece to their portfolios.
5. The 2013 Australian Silver Holey Dollar and Dump Set
In March, I reported that an original Holey Dollar and Dump dating back to 1813 had sold for AUS$495,000.
An intriguing coin with a fascinating story, 2013 saw The Perth Mint issue their own 200th anniversary tribute to the Holey Dollar. All 4000 sets of 2013 1oz Silver Holey Dollar and Dump sold out not long afterwards.
Another sell-out for the world’s fastest-selling silver coin series
The latest Canadian $20 silver coin has now sold out its entire 250,000 edition limit
With its entire 250,000 worldwide edition limit now sold out, the Ice Hockey coin becomes the latest Royal Canadian Mint $20 silver coin to sell-out – securing the $20 coin as the world’s fastest-selling silver coin series.
A collecting phenomena
In just two years, the Canadian $20 silver coin series has caused an unprecedented collecting frenzy among collectors not just at home but worldwide with all seven coins selling out extremely fast. The first coin in the series featuring the Maple Leaf was issued in 2011 with a worldwide edition limit of 200,000 pieces. Just 29 days later, every single one had been sold.
Quick – but not the quickest
Surprisingly though, the Maple Leaf isn’t the fastest-selling coin in this series to date.
To cope with the unprecedented level of demand following the Maple Leaf’s success, 250,000 coins of each of the next 5 issues were struck. But as the mintage increased, so too did demand, particularly among Canadians. Once they had one, they simply had to have the next. And the next and the next – leaving many collectors disappointed.
The one to beat! The Polar Bear is the fastest selling coin of the series to date
Faster than the Diamond Jubilee issue
It was however the Polar Bear $20 silver coin that broke all previous records selling out in just 25 days – incredibly, that was 5 days faster than the celebrated 2012 Diamond Jubilee issue, which was comparatively slow at 30 days.
Collectors haven’t had to wait too long to catch a glimpse of the next coin in the series. There’s every reason to assume all 250,000 of the new 2013 Canada Wolf Silver $20 Coin, the eighth of the series, will also sell out in double-quick time.
The next coin in the hugely popular series features the Wolf
Now officially sold out worldwide.