A 1794 Flowing Hair Silver Greenback, bought at public sale “uncooked” as Gem Sensible Uncirculated by Stack’s in 1995, has now been carefully examined by specialists at CAC Grading (CACG) who licensed it as Mint State 67.
In line with CACG, it’s the most interesting identified surviving instance from the primary 12 months the United States Mint struck greenback cash for circulation. Now insured for $15 million by its long-time proprietor, the coin could make its first public look in 30 years throughout 2025.
In 2010, the coin was graded by PCGS as MS66+ and later given a CAC sticker of approval.
“I’ve been kicking myself ever because it acquired solely a inexperienced CAC approval sticker relatively than a gold sticker. I can actually perceive an eight-figure valuation on this market,” mentioned CACG founder John Albanese.
With a pedigree relationship again to the Twenties with well-known collector Col. E.H.R. Inexperienced and later mid-century legendary sort set collector Lelan Rogers, the 1794 greenback was bought on the 1995 public sale by vendor Jay Parrino for $577,500. Parrino and his associate Mike Phillips bought it in 1996 to vendor Chris Napolitano for his shopper, a collector in Georgia who nonetheless owns it and needs to stay nameless underneath the set registry identify “Stellar”.
“The Lelan Rogers 1794 greenback is the very best 1794 greenback; one of the best 1794 greenback in existence,” said Phillips.
The coin was lately submitted to CAC for crossover the place a coin is faraway from one other third-party certification service’s sealed holder, examined, and, if acceptable, licensed and encapsulated by one other service.
Napolitano mentioned his buyer “was actually comfortable concerning the outcomes” and had anticipated CAC to grade the coin MS67.
“It validated what he felt concerning the greenback over all these years. Since I first noticed this coin at Stack’s in 1995, I felt it was one of the crucial necessary U.S. cash in existence. In reality, on the time, I mentioned that if I may personal just one U.S. coin, this is able to be the one. That also holds true in the present day,”? Napolitano said.
“My shopper has by no means publicly displayed the coin through the practically 30 years he has owned it. We all know there’s a complete era of numismatists who’ve by no means had the chance to view the coin. In reality, many is probably not conscious of its existence in any respect. We don’t have any particular dates or venues to announce right now, however we are going to focus on the potential of displaying the coin sooner or later,” he revealed.
The 1995 Stack’s public sale description of the coin said:
1794 Bolender 1. Gem Sensible Uncirculated. 416.1 grains. A beautiful toned satin gem coin. Either side are toned a beautiful, deep coin silver grey with iridescent champagne and palest iridescent blue across the rims. The fields are totally lustrous and satiny, the frost just about unmarred by indicators of dealing with. One has to marvel how such an enormous and heavy coin may have survived for 200 years with such satiny surfaces intact.
In line with U.S. Mint data, Chief Coiner Henry Voigt delivered a complete of 1,758 silver {dollars} to Mint Director David Rittenhouse on October 15, 1794. That was the full mintage of 1794-dated Flowing Hair {Dollars} launched for the 12 months.
“Lower than 150 1794 silver {dollars} are identified to exist in the present day, and solely a handful are licensed Mint State. The Lelan Rogers coin owned for many years by a Georgia collector and now graded CACG MS67 is the best identified,” mentioned CAC Grading President Ron Drzewucki.
A number of main early American federal coinage specialists who spoke with CAC Grading concerning the most interesting identified 1794 greenback unanimously agreed, together with Joe O’Connor.
“Once we all first noticed the Lelan Rogers 1794 greenback nearly 30 years in the past, it was clear then that this was not solely one of many most interesting examples of the Flowing Hair Greenback sort, but additionally possible the best 1794. Three a long time later, our collective opinion has not modified,” O’Connor declared.
Albanese and two dozen veteran numismatists based Licensed Acceptance Company (CAC) in 2007 to supply consumers and sellers verification that their cash licensed by third-party grading companies met stringent requirements. In 2022, he together with Ron Drzewucki organized over 150 main members of the numismatic group to develop their mission for accuracy and consistency by creating a brand new third-party grading and encapsulation service, CAC Grading, that was launched in 2023.
For added details about CAC Grading, go to www.CACgrading.com, electronic mail [email protected], or name 888-537-3798.
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