WHAT: A 1794 silver dollar, the first dollar in the U.S., sold for $4,993,750 in the second session of a five sale sell-off of a renowned private collection. The coin was first owned by a British aristocrat who acquired the dollar after it was minted in Philadelphia.
MORE: Most recently, the coin has been in the collection of the Pogue family of Texas. Said to be the world’s most valuable personal collection of early American coins and currency, the collection is to sell in five installments; the first sale, in May 2015, broke 16 price records. This Pogue II sale brought over $26 million.
SMART COLLECTORS KNOW: The location of the dollar coin has always been known. Until 1964, it was owned by descendants of the original owner. When acquired by the Pogue family, it joined more than 600 of the most valuable American Federal coins that exist. Very smart collectors always know where the very best is and who owns it.
HOT TIP: The finest and rarest always appreciates. This time, the 1794 silver dollar sold for more than 20 times what it brought 30 years ago.
BOTTOM LINE: Though Pogue sales are handled by Stack’s Bowers Galleries in California, this sale was held at Sotheby’s New York. Both auctions benefit from the arrangement. It’s a win-win situation.
