1794 Flowing Hair Dollar Earns CACG MS67 Certification, Insured for $15 Million

Not seen in public for 30 years, the coin’s anonymous owner will consider displaying in 2025 one of USA’s most important coins

15

A 1794 Flowing Hair silver dollar, sold at auction "raw" as Gem Brilliant Uncirculated by Stack’s in 1995, has now been closely examined by experts at CAC Grading (www.CACgrading.com) who certified it as Mint State 67.

1794 Flowing Hair Dollar CACG MS67 - Obverse and Reverse
Declared the finest known, the 1794 Flowing Hair Silver Dollar is graded CACG MS67 and insured at $15 Million

According to CACG, it is the finest known surviving example from the first year the United States Mint struck dollar coins for circulation. Now insured for $15 million by its long-time owner, the coin may make its first public appearance in 30 years during 2025.

In 2010, the coin was graded by PCGS as MS66+ and later given a CAC sticker of approval.

"I’ve been kicking myself ever since it received only a green CAC approval sticker rather than a gold sticker. I can certainly understand an eight-figure valuation in this market," said Albanese.

With a pedigree dating back to the 1920s with famous collector Col. E.H.R. Green and later mid-century legendary type set collector Lelan Rogers, the 1794 dollar was purchased at the 1995 auction by dealer Jay Parrino for $577,500. Parrino and his partner Mike Phillips sold it in 1996 to dealer Chris Napolitano for his client, a collector in Georgia who still owns it and wants to remain anonymous under the set registry name "Stellar."

"The Lelan Rogers 1794 dollar is the absolute best 1794 dollar; the best 1794 dollar in existence," stated Phillips.

The coin was recently submitted to CAC for crossover where a coin is removed from another third-party certification service’s sealed holder, examined, and, if appropriate, certified and encapsulated by another service.

1794 Flowing Hair Silver Dollar CACG MS67
1794 Flowing Hair Silver Dollar CACG MS67

Napolitano said his customer "was certainly happy about the results" and had expected CAC to grade the coin MS67.

"It validated what he felt about the dollar over all these years. Since I first saw this coin at Stack’s in 1995, I felt it was one of the most important U.S. coins in existence. In fact, at the time, I said that if I could own only one U.S. coin, this would be the one. That still holds true today," Napolitano stated.

"My client has never publicly displayed the coin during the nearly 30 years he has owned it. We know there’s a whole generation of numismatists who have never had the opportunity to view the coin. In fact, many may not be aware of its existence at all. We don’t have any specific dates or venues to announce at this time, but we will discuss the possibility of displaying the coin in the future," he revealed.

The 1995 Stack’s auction description of the coin stated:

"1794 Bolender 1. Gem Brilliant Uncirculated. 416.1 grains. A gorgeous toned satin gem coin. Both sides are toned a lovely, deep coin silver gray with iridescent champagne and palest iridescent blue around the rims. The fields are fully lustrous and satiny, the frost virtually unmarred by signs of handling. One has to wonder how such a big and heavy coin could have survived for 200 years with such satiny surfaces intact."

According to U.S. Mint records, Chief Coiner Henry Voigt delivered a total of 1,758 silver dollars to Mint Director David Rittenhouse on October 15, 1794. That was the total mintage of 1794-dated Flowing Hair dollars released for the year.

"Less than 150 1794 silver dollars are known to exist today, and only a handful are certified mint state. The Lelan Rogers coin owned for decades by a Georgia collector and now graded CACG MS67 is the finest known," said CAC Grading President Ron Drzewucki.

Several leading early American federal coinage experts who spoke with CAC Grading about the coin unanimously agreed, including Joe O’Connor.

"When we all first saw the Lelan Rogers 1794 dollar almost thirty years ago, it was clear then that this was not only one of the finest examples of the Flowing Hair Dollar type, but also likely the finest 1794. Three decades later, our collective opinion has not changed," O’Connor declared.

Albanese and two dozen veteran numismatists founded Certified Acceptance Corporation (CAC) in 2007 to provide buyers and sellers verification that their coins certified by third-party grading services met stringent standards. In 2022, he along with Ron Drzewucki organized over 150 leading members of the numismatic community to expand their mission for accuracy and consistency by creating a new third-party grading and encapsulation service, CAC Grading, that was launched in 2023.

For additional information about CAC Grading, visit www.CACgrading.com, email help@CACgrading.com, or call 888-537-3798.

Subscribe
Notify of
guest

15 Comments
Inline Feedbacks
View all comments
Antonio

Beautiful coin. Should be in the National Collection.

John Q. Coinage

CAC slab, hmmmm…..

Rick

Yeah I know John, it’s a big deal. There was a substantial collection worth millions a few months ago where the owner crossed all of his PCGS rarities over to CACg. Over the last year they’ve been catching on with collectors and dealers alike. The dealers at shows get their CACg inventory picked through just as fast as the PCGS w/CAC stickered coins(in general). It’s rumored that CACgrading is tougher with their grading standards, and the other TPG’s are taking note, and making some adjustments? The TPG pendulum is swinging the other way. They may never catch the dominant rare… Read more »

Last edited 13 days ago by Rick
Rick

E1,
The Introduction within the Top 100 Greatest US Modern Coins book gives a good explanation as to why 1964 is key in defining the beginning of the Modern era of US Coinage. Thanks for the recommendation, it’s a great book.
I like that they combine some of the top coins in sets, or subsets giving you several additional coins exceeding the 100 count. For example the 2008-W AGE fractionals, or the 2014 Kennedy 50th anniversary coins….

Rick

I found around 20 coins that are on the list. I put together half of them in the photo & list below… #17) 2020-W ASE v75 Privy Proof #20) 2011-P ASE Reverse Proof (from the 5 coin set) #25) 2008-W AGE $10-1/4 oz Unc fractional (from the 4 coin set) #28) 2021-D $1 Morgan (all 5 ’21 coins) #33) 2006-P ASE Reverse Proof (from the 3 coin set), (1st Rev PF) #39) 2016 Centennial Gold 10C Dime (from the 3 coin set) #62) 2014 Baseball HOF Commem $1 Proof (from the 3 coin set) #68) 2006-W ASE (from the 3… Read more »

TOP-100-x-11
Rick

Some notable regrets;
Years ago I sold off…
#14) 2008-W ASE, Reverse of 2007
#90) 2007-W AGE $25 1/2 oz Unc
#99) 2009-W $100 1oz Platinum Eagle Proof…

REB

I’ve got several of these, and even some of the Uncirculated coins when they were part of a set with a proof that I was after. Did any of the hockey pucks make it? The 2019-P Apollo 11 5-ouncer? Any colorized coins? (I know … I know … just buy the book).

Rick

If I tell you, I’ll have to kill you lol…No, I don’t mind at all.
There are no Apollo 11 coins this time around, but that could change when the next publication comes out? The selections are not written in stone and change rank often(not top 3)as new & exciting coins/series are introduced. Careful analysis and consideration is given to all entries. However, if you task a different group of Numi Elites to evaluate the list, their interpretation will differ. There’s just too many great US coins out there, something’s gotta give to keep the list down to 100 entries…

Last edited 13 days ago by Rick
Rick

No Colorized coins are on the list, past or present.

Yes, a 5oz Puck is on the list, but it’s a tricky one!
#92) 2010-P Grand Canyon 5oz Silver Quarter Dollar “Light Finish”(approx 4,000 of 27,000 pcs).

Another new entry is just below the #28) 2021 Morgan Dollars…

#29) The 2021 Peace Dollar. Good choice✓…

REB

So the only odd “trick” coins (pucks, concave/convex, or colorized) are the “Light Finish” Grand Canyon puck and the Baseball HOF dollar? How about the pink gold breast cancer awareness commemorative? I’d put that one and the Purple Heart Colorized Dollar onto the list. But alas, I don’t have a vote in the matter, darn it.

Last edited 13 days ago by REB
REB

There’s just too many great US coins out there, something’s gotta give to keep the list down to 100 entries…

Amen, my coinage brother!

Rick

Beautiful coins that you’ve named REB, no doubt about that!
Just how should “tricky” be interpreted here?
#4) 2000 Sac $1/Washington Quarter Mule Coin, tricky?
#19) 2004-D Extra Leaf, Wisconsin Quarters, tricky?
#98) 2023 “Extra V” 1C Variety, very tricky?
Colorized coins? Well, technically, yes I have one? It’s on payment layaway(literally lol, because of the crazy price), to be in hand in a month or so…
#53) The 1970-D Kennedy Half Dollar…
Very colorful indeed(to the chagrin of sharks2th ?), but I love it anyway!….

MY-1970-D-MS67
REB

Admittedly, “intentionally minted in a new and unique way” might be more descriptive than “tricky”. My choice of the single-word descriptor is probably the result of too much close scrutiny of Run DMC lyrics in parts of my misspent youth. I would define #4, #19, and #98 as “error” coins or “unintentionally minted with unintended features”.

As for colorization, one man’s colorized coin is another man’s toned coin. Again, the differences have something to do with the intent of the Mint vs. the intent of nature and atmospherics.

Rick

Once again REB,
Well said.

VinnieC

Looks like I picked up several more from the 5th edition. I’m guessing I lost some, but I think I have a net gain. I wonder if I got any for 100 Greatest Modern World Coins.

BTW Nice collection, Rick