The world’s most expensive coin, the ‘Flowing Hair’ Silver Dollar, which is thought to be the first US dollar ever minted, was in the UK in March as part of a travelling exhibition organised by the London Mint Office.

This was the first time that the coin had left the USA and it was exhibited alongside an original copy of the Declaration of Independence, the document that severed colonial ties with the British and was a contributing factor in the subsequent war of independence and the eventual formation of the modern day United States of America.

The coin is privately owned and was bought by a collector for $10 million in 2013. Both the coin and the Declaration of Independence, itself thought to be worth in the region of $4 million, are on a tour of Europe with secret travel arrangements and security guards at every step of the journey.

The coin’s value comes from its historical significance. Upon the Declaration of Independence the USA found itself in need of currency as the Spanish Real, in use at the time, was not suitable as a long term currency for the newly independent United States.

The design on the coin features a striking figure of Liberty with flowing hair from which the coin gets its name complete with 15 stars for the founding member states of the nation. The obverse of the coin features an Eagle design that has become synonymous with the USA.

The fineness of the detailing on the coin, known as ‘The Flowing Hair’ Silver Dollar has led some experts to conclude that the coin may well have been the very first Silver Dollar struck at the Philadelphia Mint and would therefore have been inspected by George Washington himself for approval before being issued for general use.
In total there were 1,758 ‘Flowing Hair’ silver dollars struck on October 15, 1794 using a hand turned screw press. It is this method of production that lends credence to the theory of an early production coin. The screw press method used can lead to misalignment of the coin faces and over time, as more coins are struck, the definition and detail is lost from the design on the coin faces due to the degradation and damage done to the plates during the process.

Rumour has it that the current owner may be looking to sell the coin although no plans have yet been announced. If you’re looking to make an investment for your collection but $10 million is a little out of your price range why not check out our range of Gold and Silver Bullion products from the major manufacturers of the world, available in a range of sizes and weights and prices, there is sure to be something to meet your needs. Also keep an eye out for strictly limited offers on historic gold coins if you desire to add rarity and collect-ability to your investment.

Image credit: Photo: DPA/PA Images