2020-06-09 Tue

The Flowing Hair dollar was the first dollar coin issued by the United States federal government. The coin was minted between 1794 and 1795. The foundation stone of the Philadelphia Mint was laid on 31st July 1792 under the Act of United States Mint. The sanctioned denominations under this act were half cents, cents, half dimes, dimes, quarter dollars, half dollars, dollars, quarter eagles, half eagles and eagles. Robert Scot struck the first silver dollar on 15th October 1794. Initially, it was distributed among VIPs and distinguished visitors to the mint. Throughout numismatic history, the 1794 dollar has been considered one of the rarest and most valuable coins of the United States. This dollar coin is the example of the earliest struck and prepared with great care. Numismatic Jack Collins estimated the surviving number of the coins to be between 120 and 130 in the early 1990s. The obverse of the coin depicts Bust of Liberty, flanked with stars and reverse features Eagle surrounded by a wreath. The edge of the coin is lettered. The composition ration of silver and copper is 9:1 respectively. The coin weighs around 26.96 grams. The coin was sold for $10,016,875 in an auction which is equivalent to 75 crores as per to current Indian Rupee rate. Image Courtesy: Wikipedia.com