A rare and early silver dollar from the United States, dating back to 1795, has recently been discovered in Rhode Island and is expected to fetch over $100,000 at auction, according to GreatCollections, a California-based auction house. This remarkable coin, identified as the 1795 Flowing Hair Silver Dollar with Silver Plug, has been graded PCGS AU58 by the Professional Coin Grading Service (PCGS) and has also received Certified Acceptance Corporation (CAC) approval, further confirming its outstanding quality. It ranks among the finest known examples of its kind.
Ian Russell, president of GreatCollections, remarked on the significance of this find, noting, “What an important discovery… an early piece of U.S. numismatics, stored in an old shoebox for generations. It likely came out of circulation in the late 1790s or early 1800s, based on its excellent condition and minimal wear.”
This rare coin had been kept by a Rhode Island family for over two centuries, passed down through seven generations. The coin was the only heirloom retained by the family, with many of its descendants still living in Rhode Island and Massachusetts. They were recently made aware of the coin’s exceptional rarity and value.
The 1795 Flowing Hair Silver Dollar with Silver Plug is one of the rarest versions of the coin. In 1794 and 1795, a small number of these coins were struck with a silver plug inserted into underweight planchets to bring their weight up to the required standard for silver dollars. Only about 100 examples of this variant are known to exist across all grades, most of which are in circulated condition. The newly discovered coin is tied for the fourth-highest grade ever given to this type, and tied for second when factoring in its CAC approval.
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Russell added, “These early coins were struck by hand to an exceptional level of craftsmanship, during the presidency of George Washington, long before Abraham Lincoln was even born. Ensuring the proper weight for newly minted coins was crucial for gaining global trust in the young nation’s currency.”
The 1795 Flowing Hair Silver Dollar with Silver Plug PCGS AU58 CAC will be auctioned on December 15. For more details about the auction, visit www.greatcollections.com or call 800-442-6467.
