In the world of numismatics, certain coins stand out not only for their monetary value but also for their historical significance and rarity. Among these treasures is the 1794 Flowing Hair Silver Dollar, a coin that holds the distinction of being the first official silver dollar struck by the United States Mint. Revered by collectors and historians alike, this iconic coin commands attention not only for its beauty but also for its remarkable value, with some estimates placing it at over $60 million.
The story of the 1794 Flowing Hair Silver Dollar begins with the establishment of the United States Mint in 1792. At that time, the fledgling nation sought to establish its own currency, distinct from the foreign coins that circulated throughout the colonies. Under the direction of Mint Director David Rittenhouse and Chief Engraver Robert Scot, plans were set in motion to produce a series of coins that would symbolize the sovereignty and independence of the United States.
The Flowing Hair design, attributed to Scot, features a portrait of Liberty facing right on the obverse, with flowing hair cascading down her shoulder. The word “LIBERTY” arches above her head, while the date of issue, 1794, appears below. On the reverse, an eagle with outstretched wings perches upon a rock, surrounded by the inscription “UNITED STATES OF AMERICA” and the denomination “ONE DOLLAR.”