A remarkable piece of American history has surfaced in Rhode Island—a 1795 Flowing Hair Silver Dollar with a silver plug, one of the earliest silver dollars minted in the United States. Graded PCGS AU58 and approved by the Certified Acceptance Corporation (CAC), this rare coin will be auctioned on December 15, 2024, by GreatCollections, a California-based auction house. Experts estimate its value at over $100,000.
A Heirloom Passed Down for Generations
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The coin has a unique story. It was preserved for more than 200 years by a Rhode Island family, passed down through seven generations. Remarkably, it was the sole heirloom that survived the family’s history. Many descendants, who still live in Rhode Island and nearby Massachusetts, recently realized the coin’s extraordinary rarity and value.
This familial connection to the early days of the United States adds a personal layer of historical significance to the coin, linking the modern world to the country’s infancy.
What Makes the Silver Plug Version So Rare?
The United States began minting silver dollars in 1794, a monumental step in establishing a trusted national currency. In 1794 and 1795, the Mint occasionally added a silver plug—a small silver center—to underweight coin planchets to meet the strict weight requirements for silver dollars.
This meticulous process ensured global confidence in the new nation’s currency. Only about 100 examples of silver-plugged 1795 silver dollars are known to exist, most of which are in heavily circulated condition. The recently discovered coin is an exceptional find, ranking as tied-for-fourth finest graded by PCGS and tied-for-second finest with CAC approval.
A Window Into Early American Craftsmanship
These coins were crafted during an era of manual minting, requiring high precision to meet strict standards. “These early coins were struck by hand to an amazing level of quality,” noted Ian Russell, president of GreatCollections. This was during a time when George Washington served as president, and Abraham Lincoln’s birth was still decades away.
The silver plug feature underscores the dedication to perfection, ensuring that each coin met the necessary weight to foster global trust in the fledgling nation’s currency.
A Historic Auction
The December 15 auction of the 1795 Flowing Hair Silver Dollar with a silver plug is expected to attract significant attention from collectors and historians alike. The coin not only represents a rare collectible but also offers a tangible connection to the early days of the United States.
For additional details about the auction or this extraordinary coin, visit GreatCollections or call 800-442-6467.
Conclusion
The discovery of this silver dollar is a rare event that bridges the past and present, offering a glimpse into the meticulous craftsmanship and history of early American coinage. Its journey through seven generations makes it a remarkable symbol of both personal and national heritage, ensuring its place as a highly coveted artifact in numismatic history.
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