2016-02-19 Fri

John Brush, president of David Lawrence Rare Coins, recently bought an old and equally rare American dollar coin worth a million from 1794.

Lady Liberty is on one side, and an early design of the U.S. eagle is on the other. The coin was in circulation for a short time which can be judged by its minimal wear. The Numismatic Guaranty Corporation authenticated the 222-year-old piece of currency.

The coin has been listed online for $975,000. The coin first caught Brush’s attention at a 2008 auction in Illinois. He spent eight years waiting for the earlier owner to be ready to sell it. The $10 million coin spent some time at the Edward C. Rochette Money Museum in Colorado. Most 1794 dollars are worth six figures, said Doug Mudd, the museum’s director. Sometimes, if a coin has a special attribute or is in exceptionally good condition, it can top $1 million.

Only about 1,700 dollar coins were made that year, all on the same day. The U.S. Mint had been operating for just two years, and the 1794 dollar marked the United States’ newfound independence. Before that, Americans mostly relied on Spanish currency