The 1794 Flowing Hair Silver Dollar holds a special place in U.S. history. Struck by the Philadelphia Mint in 1794, it is widely believed to be the first silver dollar ever produced in the United States. This rare coin not only represents the birth of American currency but also stands as one of the most valuable coins in the world.
Historical Background
In the late 18th century, the United States was a young nation in need of its own coinage. The Coinage Act of 1792 authorized the production of various denominations, including the silver dollar. The Flowing Hair design, created by Robert Scot, features Lady Liberty with flowing hair on the obverse and an eagle surrounded by a wreath on the reverse.
Only 1,758 coins were struck in 1794, making it extremely rare today. Experts believe that just a fraction of those survive, many in worn condition due to circulation.
Why It’s So Valuable
Several factors make the 1794 Flowing Hair Silver Dollar a prized treasure:
Historical Significance – First official silver dollar issued by the U.S. Mint.
Low Mintage – Limited production of 1,758 coins.
Collector Demand – Sought after by numismatists worldwide.
Condition – High-grade examples are worth millions.
In 2013, a mint-condition specimen sold for over $10 million, setting a record as the most expensive coin ever sold at that time.
Design Details
Obverse: Lady Liberty’s flowing hair, symbolizing freedom and the spirit of America.
Reverse: A small eagle within a laurel wreath, representing strength and victory.
Metal Content: 90% silver, 10% copper.
Diameter: 39–40 mm.
Collecting Tips
If you’re lucky enough to find a genuine 1794 Flowing Hair Silver Dollar, ensure it is authenticated and graded by a reputable service like PCGS or NGC. Counterfeits do exist, and professional grading protects your investment.
Final Thoughts
The 1794 Flowing Hair Silver Dollar is more than just money — it is a piece of American heritage. For collectors, owning one means holding a tangible link to the nation’s early history and a coin that will likely grow in value for generations.