'World's Most Valuable Coin' Set For October Sale

The world’s most valuable U.S. coin, a 1794 dollar that last sold for $10 million, 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, a collection of coins from the early period of US history, valued in total at more than $20 million, according to the firm. It will be sold as the anchor collection of an auction taking place in conjunction with the PCGS Members’ Only Show Oct. 7-9 in Las Vegas.

The collection includes the finest set of early Mint State dollars ever assembled, including two incredibly rare coins, the 1794 $1 SP-66, and 1804 $1 PR-65, according to Legend. These coins are among the most famous coins in the world, as well as two of the rarest, the firm says.

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 dollar included in the collection is the first 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 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 known as the Dexter Specimen because of a small “D” a previous owner carved on the reverse. It has an estimated value of $4 million.

The Bruce Morelan Collection was assembled by Bruce Morelan, a 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 only on the highest quality coins for each date.

When asked about the process of building this collection, Laura Sperber had this to say:

“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 U.S. 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 dollars.”

Now Morelan is selling his collection, and the 1794 dollar with it.

“The 1794 dollar has been a lifelong dream coin and I’m truly blessed to have owned it,” he said. “I can only hope the new owner has as much joy, pride and satisfaction as I did 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.”

It is not just these two dollars that make this an exceptional set, however. Each has been part of some of the greatest coin collections ever assembled, Legend says, and after this sale the name Bruce Morelan will be added to that list.

“There likely will never be another set in our lifetime like this!” Sperber added.

The Bruce Morelan Collection of Early U.S. Silver Dollars is made up of the following coins:

1794 PCGS SP-66

1795 Flowing Hair PCGS MS-64+

1795 Draped Bust PCGS MS-66

1796 PCGS MS-65

1797 PCGS MS-64

1798 Small Eagle PCGS MS-63

1798 Large Eagle PCGS MS-65

1799/8 PCGS MS-64

1799 PCGS MS-66

1800 PCGS MS-65+

1801 PCGS MS-65

1802/1 PCGS MS-64

1802 PCGS MS-65

1803 PCGS MS-65

1804 PCGS PR-65

For more information about the collection, contact Legend Rare Coin Auctions by email at info@legendauctions.com or by phone at (732) 935-1168.