The world’s most valuable US coin, a 1794 Dollar that last sold for $10 million USD, is set to appear in an auction again later this year.
Legend Rare Coin Auctions, Inc. has announced the sale of the Bruce Morelan Collection, a collection of coins from the early period of US history, valued in total at over $20 million. The collection will be sold as the anchor collection of an auction taking place in conjunction with the PCGS Members’ Only Show in Las Vegas this October.
The collection includes the finest set of Early Mint State Dollars ever assembled, including two incredibly rare seven figure coins, the 1794 $1 SP66, and the 1804 $1 PR65. These coins are among the most famous coins in the world, as well as two of the rarest, making it incredible that they can both be included in the same collection.
The collection being offered includes an example of every date and type of dollar struck at the Philadelphia Mint from 1794 through 1804. The 1794 $1 included in the collection is the first dollar ever struck in the United States and has been featured in museums around the world due to its historical importance. The final coin in the collection, the 1804 $1, is an exceptionally rare coin, of which only eight were ever minted. The example being sold is the third-finest known to survive, and is known as the Dexter Specimen because of a small “D” a previous owner carved on the reverse. It has an estimated value of $4 million.
The Bruce Morelan Collection was assembled by Bruce Morelan, a businessman and one of the preeminent coin collectors of this generation, over the course of many years. He was aided in his search by Laura Sperber of Legend Numismatics, and together they assembled this collection by focusing only on only the highest quality coins for each date.
When asked about the process of building this collection, Laura Sperber had this to say:
“This is the finest collection of Mint State Dollars ever assembled. Bruce never settled for second best, even if a coin was only a fraction better that is what he wanted. This could not have been clearer than when we bought the 1794 Dollar. Unquestionably the coin is one of a kind, both due to its incredible qualities, and the fact that it is the very first dollar ever struck by the US Mint. Having tried to buy it earlier, Bruce was determined not to miss this opportunity a second time. When it came up to auction, he made a ‘blow out’ bid to scare off other bidders and ensure the coin was his. Because of this, it is the first and only coin to sell for ten million dollars.”
Now that he is selling his collection and the 1794 Dollar with it, Bruce had this to say:
“The 1794 Dollar has been a lifelong dream coin and I’m truly blessed to have owned it. I can only hope the new owner has as much joy, pride, and satisfaction as I did having it in my collection. Now that the set is complete and nothing else can be added, I’ve decided it’s time for other collectors to enjoy these magnificent coins.”
It is not just these two dollars that make this an exceptional set, however; all of the coins in the Bruce Morelan collection are of the highest quality and eye appeal. Each has been part of some of the greatest coin collections ever assembled, and after this sale the name Bruce Morelan will be added to that list.
“There likely will never be another set in our lifetime like this,” Laura Sperber added.
The Bruce Morelan Collection of Early U.S. Silver Dollars is made up of the following coins:
- 1794 PCGS SP 66
- 1795 Flowing Hair PCGS MS64+
- 1795 Draped Bust PCGS MS66
- 1796 PCGS MS65
- 1797 PCGS MS64
- 1798 Small Eagle PCGS MS63
- 1798 Large Eagle PCGS MS65
- 1799/8 PCGS MS64
- 1799 PCGS MS66
- 1800 PCGS MS65+
- 1801 PCGS MS65
- 1802/1 PCGS MS64
- 1802 PCGS MS65
- 1803 PCGS MS65
- 1804 PCGS PR65
To find out more information about the collection, please contact Legend Rare Coins auctions at [email protected], or at (732) 935-1168.
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CoinWeek Podcast #65: Bruce Morelan Buys an 1804 Dollar – Audio
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What does it feel like to buy an 1804 Dollar?
The 1804 Dollar has long been regarded as the “King of American Coins” and those that have had the good fortune (in luck and in dollars) to be able to own one over the years are often as colorful and interesting as the coins themselves.
In this episode of the CoinWeek Podcast we talk to mega-collector Bruce Morelan about his recent purchase of the “Dexter” 1804 Dollar and how the Pogue Collection, from which it came, rates among the all time greats.
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Legend Rare Coin Auctions (LRCA), based in Lincroft, New Jersey, is a boutique-style rare coin auction firm.
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