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Press Release - April 23, 2021
Copper Prototype of First U.S. Dollar Brings $840,000 at Heritage Auctions1794 No Stars Flowing Hair dollar blows past $350,000-$500,000 pre-auction estimate
The 230-year-old dollar has been off the market for 20 years, residing in the private collection of Bob R. Simpson, part-owner of the Texas Rangers baseball team and a lifelong Texas energy executive. Simpson purchased the coin in 2008. Simpson has been selling highlights from his collection through Heritage Auctions, which have so far totaled more than $54 million.
The unique rarity was excavated from the site of the first Philadelphia Mint before 1876, according to the coin's first owner at its first auction appearance in 1890. "This coin has traded hands just eight times during the last 230 years," said Jacob Lipson, a numismatist and cataloger at Heritage Auctions. "This is a coin of nearly unsurpassed historical significance."
The front of the coin features the adopted Flowing Hair portrait of Liberty with LIBERTY above and the date, 1794, below. The reverse is the regular-issue silver dollar design with a Small Eagle standing on a rock within a wreath and UNITED STATES OF AMERICA around the border. The copper coin features a lettered edge that reads HUNDRED CENTS ONE DOLLAR OR UNIT with ornamentation between the words.
Experts have spent more than two centuries researching the prototype, which closely resembles later silver dollars minted in Philadelphia, which now command $4 million to $5 million each. The variations between this copper piece and its silver counterparts make it unique among dollars struck following the Mint Act of April 2, 1792 because it is missing telltale decorative stars on coins stamped later.
"It's all in the stars," Lipson said. "Similar 'starless coins,' such as a copper half dime, are held in the Smithsonian Institution's National Numismatic Collection and this copper dollar is considered the companion piece to the half dime."
Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world's largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.
Heritage also enjoys the highest online traffic and dollar volume of any auction house on earth (source: SimilarWeb and Hiscox Report). The Internet's most popular auction-house website, HA.com, has more than 1,400,000 registered bidder-members and searchable free archives of five million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.
Eric Bradley, Director, Public Relations
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HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)