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Flip that 1804 dollar

1804 Dollar NEW Vert

The Dexter 1804 silver dollar that sold for $3.3 million in the March 31 Stack’s Bowers Auction sold again April 2 for an undisclosed higher price in a private treat sale.

Can an 1804 silver dollar be flipped?

Apparently so.

The rarity that sold Friday night for $3.3 million was sold again on Sunday afternoon for an undisclosed sum.

Buyer was Bruce Morelan, a man known for his fine collector’s eye and the owner of the all-time finest set of early American dollars listed in the PCGS Set Registry®.

Acting as Morelan’s agent was Laura Sperber of Legend Numismatics in Lincroft, N.J.

She acquired the coin April 2 from Kevin Lipton of Beverly Hills, Calif., and John Albanese of Bedminster, N.J., who had jointly purchased it for $3,290,000 at the Stack’s Bowers auction of the fifth part of the D Brent Pogue Collection in Baltimore.

“It is a hell of a coin and a hell of a deal for Super Collector Bruce Morelan,” said Sperber.

“After Friday night’s auction, I suggested we probably need this coin in his early American dollars set. The negotiations with John and Kevin took only a few minutes to work out and everyone involved is happy.”

Morelan was surprised by the price.

1804 Dollar Bruce Morelan crop-150

Bruce Morelan

“I was shocked when the coin sold so low. I’m happy to pick it up for a few incremental bids over that level. While the coin is not necessary for the circulation strike early dollars set, it certainly is complementary to my set and collection as a whole,” Morelan said.

Among the world’s most famous rare coins, only 15 1804-dated silver dollars are known today, and eight of them are categorized as Class I, including the Dexter/Pogue specimen.

No silver dollars dated 1804 actually were struck that year. Researchers believe the surviving Class I examples were made by the United States Mint in the 1830s to be given as diplomatic gifts for a State Department mission to the Far East and Asia. Decades later, Mint employees made a handful of other, similar examples of 1804-dated dollars for collectors.

 

This article was originally printed in Numismatic News Express. >> Subscribe today

 

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