The First Silver Dollar Struck Headlines the Bruce Morelan Collection of Early Dollars
The world’s most valuable United States coin, a 1794 Flowing Hair Dollar that last sold for $10,000,000, 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, an assemblage of coins from the early period of US history and valued in total at over $20,000,000. 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 graded by Professional Coin Grading Service: the 1794 $1 PCGS SP66 and 1804 $1 PCGS PR65. These 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 Flowing Hair Dollar included in the collection is the first silver 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 Class I Draped Bust Dollar, 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 dubbed the Dexter Specimen because of a small “D” previous owner James V. Dexter carved on the reverse. It has an estimated value of $4,000,000.
The Bruce Morelan Collection was assembled by Bruce Morelan, a successful 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 on only the highest-quality coins for each date. When asked about the process of building this collection, Laura Sperber said, “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 $10 million.”
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 in 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.”
However, it is not just these two dollars that make this an exceptional set; 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.
Laura Sperber went on to say, “There likely will never be another set in our lifetime like this!”
The Bruce Morelan Collection of Early U.S. Silver Dollars is made up of the following coins:
- 1794 PCGS SP66
- 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.
Legend Rare Coin Auctions is a boutique numismatic auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, it is the premier rare coin retail firm. LRCA was from the outset designed to be a different kind of rare coin auction firm. LRCA’s team of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows. Since its founding, LRCA has sold many important collections resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all-time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 Coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); the Oak Crest Collection of Carson City $5 Gold; and the Konstantine Collection of Capped Bust Half Dollars, the #1 PCGS Set of Red Book Varieties, 1807-1836. The firm’s impressive record also includes setting over 120 world-record prices in 2019. To consign to an upcoming auction, visit www.legendauctions.com and contact a consignment specialist today.