Top 10 Most Expensive Silver Dollars

Throughout the years, silver dollar coins have been minted in the United States using a variety of materials, including gold, silver, and base metal. The first minting of dollar coins happened all the way back in 1794.

Though dollar coins haven't been popular in the U.S. since they stopped producing them with precious metals, older silver dollar coins capture the interest of coin collectors. There are many silver dollar coins that even the most amateur collector can possess, but there are others that are worth several millions of dollars.

What are the most expensive silver dollars out there?

Let's take a deep dive and look at what you need to know.

1. Flowing Hair Silver Dollar with Silver Plug

The first dollar coin that was ever issued by the United States federal government was the Flowing Hair dollar. Minted in 1794 and 1795, the weight and size of this coin were based on the Spanish dollar.

This coin was designed by Robert Scot. It was replaced by the Draped Bust dollar in October 1785.

In the early days of the United States Mint, the workers and artists were struggling to make coins in order to power the new country's economy. Most of the tasks were performed by hand by laborers as the machines were crude. Strong men were required to power the coining presses.

The coin blanks had to be hand-fed into the presses. Each time a coin was printed, a skilled pressman had to center the coin.

Each coin blank was weighed prior to being struck to ensure that it contained the right amount of silver. They would scrape off some metal with a file if it was overweight.

The adjustment marks would be left on the finished coin's surface if the coin was not initially struck hard enough. If the coin blank didn't weigh enough, they would use a small silver plug to bring it up to the standard weight.

The composition of the coin was 10% copper and 90% silver. Different qualities of silver resulted because the alloy was created by hand and impurities were sometimes left in the metal. The silver plug that was used to bring coins up to weight used silver that had a different quality than the coin silver.

This means that the coins using silver plugs had two different silver shads on the surface.

There were 1,758 silver dollars struck in the U.S. in 1794. However, there is only one that is known to still exist with a silver plug. It is thought that this coin might be the first silver dollar that was ever struck because of its nearly pristine condition and sharp detail.

The combination of this coin's unique history, low mintage, and pristine condition makes it the most valuable silver dollar in the world. The silver dollar value of the one known Flowing Hair Silver Dollar with Silver Plug is $10,016,875.

This is the most expensive silver dollar that has ever received at auction.

2. 1794 Flowing Hair Silver Dollar

The second most valuable silver dollar is also a Flowing Hair Silver Dollar from 1794. One particular specimen is valued at $4,993,750. It is believed that this coin was likely saved by a mint employee, lending to its pristine condition.

The creation of more than 1,700 silver dollars in 1794 was an incredible feat for the young United States. The equipment used to produce these coins was quite crude and could hardly generate enough pressure in order to properly strike the coins.

In 2021, a 1794 copper coin that was a prototype for the Flowing Hair silver dollar was sold for $840,000. This is significantly more than the estimated value of between $350,000 and $500,000.

The prototype shows a different design than the final design. This coin places the emphasis on Lady Liberty and does not surround her profile with stars. It is therefore referred to as the "No Stars Flowing Hair" dollar.

It is thought this coin has a strong claim to being the absolute first dollar coin that was ever struck by the U.S. mint in its history.

3. 1804 Draped Bust Silver Dollar, Class I, Watters-Childs Specimen

There are fifteen known 180 3 Draped Bust silver dollars in existence. The Watters-Childs Specimen is the finest of all of these and in our the top 3 most expensive silver dollars list.

The Draped Bust silver dollars were originally struck at the ordering of President Andrew Jackson. They were intended to be used as pieces that could be presented to foreign dignitaries and leaders.

The origins of this particular specimen can be traced back to the Sultan of Muscat. He received this coin in 1834.

This coin actually could have taken the spot of the most valuable silver dollar had its purchase at auction gone through in 2016. At an auction by Stack's/Bowers & Sotheby's, the coin was bid up to $10.81 million. However, the consignor's minimum reserve was not met.

Therefore, this coin is only the third most valuable silver dollar out there. It was valued at $4,140,000 when it sold in August 1999.

4. 1804 Draped Bust Silver Dollar, Class III, Adams-Carter Specimen

This is another one of the fifteen known specimen of the 1804 Draped Bust silver dollar. Silver dollars from this year were a part of the "King of the U.S. Series," named by the coin dealers known as the Chapman Brothers. To this day, these coins are known as "The King of Coins."

It is actually known that these coins were produced in 1834 or later by the U.S. Mint as special favors to prestigious coin collectors or as presentation pieces. This particular specimen sold for $2,300,000 in April 2009 at an auction in Cincinnati, OH.

5. 1795 Flowing Hair Dollar, 3 Leaves

In 1795, there were more than 160,000 Flowing Hair dollars minted according to Mint records. Given how crude and antiquated the equipment was at the time, this is truly a remarkable achievement.

This particular specimen is the finest known piece to exist from 1795. In 2005, the coin was purchased for $1,265,000. However, it was later sold at a loss at auction for $822,500 in 2015.

6. 1866 Proof Liberty Seated Dollar, No Motto

There were 725 Proof Liberty Seated silver dollars minted in 1866 by the United States Mint. On the reverse of the coin, these coins had the motto "In God We Trust."

It is believed that mint workers in 1869 or early 1879 used archived dies to create a coin specifically for collector Robert Coulton Davis. There was no motto on the reverse die that they used.

There was also a quarter and a half-dollar minted with an 1866 date that didn't have the motto on the coin's tail side.

There are only two known specimen that don't have the motto. One of these is in a museum and one of them is currently held in the Kennywood Collection. They purchased it in 2005 for $1,207,500.

7. 1796 Draped Bust Silver Dollar, Small Date, Small Letters

The U.S. Mint records from 1796 indicate that there were nearly 80,000 silver dollars printed that year. However, numismatic experts believe that this number is inflated.

These coins were made from hand-sculpted coin dies. These dies were used until they broke or deteriorated. These records are indicative of how many coins were produced for the year but not the date that shows up on the coin.

This particular specimen has small letters in the motto and a small date. This is considered to be the rarest 1796 Draped Bust silver dollar in existence. It was sold at auction in 2013 for $1,175,000.

8. 1870-S Liberty Seated Silver Dollar

There is no record of any 1870-S Seated Liberty dollars ever being made according to the United States Mint. However, it is known that there are at least twelve of them in existence. While the exact origin of the coins is unknown, it is believed that they might have been struck as mementos when the cornerstone was laid for the new San Francisco Mint in May of 1870.

Other speculations about the coins' origin involve mint employees producing the coins secretly. Had the coins been created as moments, they likely would've been Proof strikes.

There is only one uncirculated example out of these twelve coins. It's amazing that these coins were ever circulated as a part of the everyday economy. This coin was last sold at auction in May 2003 for $1,092,500.

9. 1795 Draped Bust Silver Dollar

There were only 42,738 silver dollars made using the Draped Bust design in 1795. Because this coin has mirror-like reflective fields, it is believed that this coin must have been specially made at the United States Mint. It isn't considered a Proof coin by numismatists, however.

This coin, therefore, has a designation as an "SP" which indicates that it was a "special" strike. The condition of the coin is nearly immaculate which is why it's the most valued Draped Bust silver dollar from 1795. At auction in May 2016, this coin sold for $1,057,500.

10. 1885 Proof Trade Dollar

One of the rarest issues in all of U.S. coinage is the 1885 Trade dollar. Only five of these Proof coins were produced by the U.S. Mint.

It wasn't until a quarter-century after they were minted that numismatists learned of these coins' existence. Experts don't think that these coins were actually struck in 1885 but rather sometime in the early 1900s.

There is no record of exactly when the coins were produced in U.S. mint records. There is one specimen that is actually valued at over $3 million, but this specimen sold in November 2004 for $1,006,250.

The Most Valuable Morgan Silver Dollar

One of the most popular series of United States coins is the Morgan dollar. These are heavy, large, beautifully designed coins that are appealing to collectors around the world. Interestingly, this coin didn't become popular as a collector's item until the mid-1970s.

The obverse of these coins was designed by George T. Morgan. The first Morgan silver dollar was struck at the United States Mint in Philadelphia in 1878. The mint produced the Morgan silver dollar at five different mints over the life of the series, which were:

• Philadelphia (no mint mark)
• San Francisco (S)
• New Orleans (mint mark O)
• Denver (D)
• Carson City (CC)

In 1904, production of Morgan silver dollars stopped at the New Orleans, San Francisco, and Philadelphia mints. When they began producing silver dollars again in 1921, the Peace dollar wasn't quite ready to be pressed. The Morgan silver dollar was used for part of 1921 until the dies were ready for Peace silver dollar production.

There are a number of types of Morgan silver dollars that are much ore valuable than others regardless of the condition. For this reason, these coins are frequently altered from real coins or counterfeited. It's, therefore, a good idea to bring your coin to a third party grading service or reputable coin dealer before you get too excited about your new Morgan silver dollar.

The particularly valuable editions of Morgan silver dollars include:

• 1895 S
• 1895 Proof
• 1893 S
• 1893 CC
• 1889 CC
• 1885 CC
• 1881 CC

There are a lot of different factors that influence how much a Morgan coin is worth. One such factor is whether the coin is considered circulated or uncirculated.

The most expensive silver dollars known amongst Morgan silver dollars is the 1893 S. The average value of one of these coins is about $3000, but one that is in a certified mint state might be worth as much as $550,000.

If you are looking for a coin to start out your collection, the Morgan silver dollar is a great choice. It is second in popularity among collectors after only Lincoln Cents.

The Most Valuable Peace Silver Dollars

The second most popular U.S. silver dollar to collect after the Morgan silver dollar is the Peace silver dollar. It is not unreasonably expensive to put together a set of Peace dollars in circulated grades. However, it will take quite a bit of time and patience to put together a set of uncirculated coins.

The Peace dollar was minted from 1921 to 1928 as well as in 1934 and 1935. There was also a commemorative minting in 2021. Anthony de Francisci designed the coin as a part of a competition. The goddess of liberty is in profile on the coin's obverse while the reverse shows a bald eagle clutching an olive branch.

This is the last dollar coin in the U.S. that was struck for circulation made out of silver.

Some pieces that you will likely want to add to your collection include the 1921 Philadelphia Mint, the 1922 die break in reverse field, the 1922 die break at ear, and the 1928 Philadelphia mint.

The most valuable Peace silver dollar is a 1928 S Peace dollar. While the average value of these coins is $32, one that is found in certified mint condition might be worth as much as $16,500.

The second most valuable is the 1925 S Peace dollar, which is worth $26 on average but can be worth up to $15,000 in certified mint condition.

The Eisenhower Dollar

Another dollar coin that is amongst the most expensive silver dollars is the Eisenhower Dollar. It was minted in honor of the United States beating the Russians to the moon. This was the first dollar coin that had been minted since 1935.

The composition of this coin was copper-nickel clad base metal composition rather than silver. It features President Dwight D. Eisenhower because it was he that authorized the creation of NASA back in 1958.

The United States Mint was aware that collectors could find these coins interesting. They therefore produced various special compositions and strikes with collectors in mind in addition to producing regular strikes for circulation.

Between 1971 and 1976, the U.S. Mint produced special 40% silver Proof coins. They also created uncirculated strikes in this same composition. The form were held in brown boxes and were known as "Brown Ikes" while the later were in blue envelopes and were known as "Blue Ikes."

The design of the coin resulted from a contest that started in 1973.

For a period of time, coin collectors did not take to collecting these coins. They hadn't circulated well with the public, the coins never struck up well, and the design wasn't particularly exciting. However, collecting these coins got more popular during the mid-to-late 2000s.

The Eisenhower dollar was replaced with the Susan B. Anthony dollar in 1978.

There are a number of popular varieties and errors that most collectors look for in Eisenhower coins. These are valued above common coins.

One such error is the 1971 Silver Proof. These were minted in San Francisco and have an "S" mint mark. The error is that the "R" has a partial "peg leg," meaning that part of the serif is missing. There are also error coins where the serif is completely missing on the "R" in liberty.

Another error coin is the 1972 Philadelphia minting. These coins have three different types of reverse dies that were used.

The most valuable Eisenhower dollar was a 1972-D that sold for $9,775.00.

Modern Most Expensive Silver Dollars

A number of dollar coins have been released by the U.S. Mint since the Eisenhower coin. These include the Susan B. Anthony dollar, the American Silver Eagle, and the Sacagawea Dollar.

The Susan B. Anthony dollar was minted from 1979 to 1981 and again in 1999. This coin depicted Susan B. Anthony, the famous women's suffrage activist. This made her the first historical female person to be shown on a circulating U.S. coin.

These coins were made from a copper-nickel clad like the Eisenhower dollars. The 1981 coins sometimes show up in circulation but they were only issued for collectors.

The American Silver Eagle coin was designed by Adolph A. Weinman and John Mercanti and is the official silver bullion coin of the U.S. The U.S. Mint first released it on November 24, 1986.

There are three different mints where the Silver Eagle coin has been produced. These are the San Francisco Mint, the Philadelphia Mint, and the West Point Mint. These coins can be used to fund IRA investments.

The Sacagawea dollar was authorized in 1997 because they expected the supply of Anthony dollars would soon be depleted. These coins are clad by manganese brass and have a copper core.

Sacagawea was a bilingual Shoshone woman who accompanied Lewis and Clark on their expedition from the northern plains through the Rockies all the way to the Pacific and back. It is believed that both her intimate knowledge of the difficult terrain and her skills as a translator were invaluable.

The design was settled upon after a competition was conducted for the new dollar coin. They invited 23 different artists to submit designs for the obverse side of the coin displaying Sacagawea. On the reverse, the bald eagle was to be shown.

Glenna Goodacre designed the obverse of the coin. There are no known verified images of Sacagawea, so Goodacre used a Shoshone Indian as a model to make the coin.

In circulation there are roughly 1 billion of these coins. There are also about a quarter billion in reserve. After the 2001 minting, the U.S. Mint reduced their production of this coin. However, it was still minted for collectors.

It wasn't until 2009 that these coins were released again for general circulation. While dollar coins aren't popular in the U.S., they have gained popularity in countries like Ecuador, El Salvador, and Panama. In these countries, the U.S. dollar is the official currency.

How much are silver dollars worth?

The value of silver dollars varies widely, with prices ranging from just above the current silver melt value ($23 for common circulated coins) to several thousand dollars for rare or highly sought-after types. The worth of a silver dollar depends on factors such as its age, condition, mint mark, and rarity.

• Common Circulated Silver Dollars: These typically align with the silver content value but can be slightly higher based on collector demand.
• Uncirculated or Specially Minted Silver Dollars: These can start at $30 and extend into the hundreds or even thousands of dollars, depending on their numismatic significance and condition.
• Rare or Key Date Silver Dollars: Certain types of silver dollars are known to be more valuable due to their historical significance, low mintage, or specific variations. These can command premium prices well into the thousands of dollars, even reaching into the millions for exceptionally rare specimens.

The broad range in value underscores the importance of factors like rarity, demand, and condition in determining the worth of silver dollars.

Other Articles You May Like:

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5 Most Valuable Kennedy Half Dollars

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What You Need to Know About the 1964 Kennedy Half Dollar

When Did They Stop Making Silver Quarters? The Complete History

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FAQ:

How do the historical contexts and stories behind the most expensive silver dollars contribute to their value?

The historical contexts and stories behind the most expensive silver dollars significantly contribute to their value by adding a layer of rarity and uniqueness that goes beyond their physical attributes. For instance, the Flowing Hair Silver Dollar, being one of the first dollar coins issued by the United States federal government, carries with it the story of the early days of the U.S. Mint and the nation's infancy. This historical significance, combined with the coin's rarity and the unique circumstances of its production, such as the use of a silver plug to adjust its weight, creates a narrative that is highly prized among collectors. The allure of owning a piece of American history, especially a coin that might have been among the first of its kind to be struck, adds immense value beyond the mere metal content or aesthetic appeal of the coin.

What factors determine the auction price of a rare coin, and why do some coins sell for significantly more than others?

The auction price of a rare coin is determined by several factors, including its historical significance, rarity, condition, and the presence of unique features such as mint errors or special markings. The market demand for a particular coin also plays a crucial role; coins that are highly sought after by collectors tend to fetch higher prices. For example, the Flowing Hair Silver Dollar with a silver plug is valued in the millions not only because of its historical importance and rarity but also because it is believed to be the first silver dollar ever struck, making it a cornerstone piece for any serious collection. On the other hand, coins that are rare but do not have as significant a historical narrative or may not be as sought after by collectors might sell for less, even if they are in excellent condition. The subjective nature of collecting, where personal interests and the desire to own specific pieces play a significant role, can lead to significant variations in auction prices.

Are there any specific trends or changes in the collectors' market that have influenced the value of these rare silver dollars over time?

Over time, the collectors' market for rare silver dollars and other coins has experienced various trends and changes influenced by economic conditions, advancements in coin grading technology, and shifts in collector interests. Economic factors such as inflation, market stability, and disposable income levels can affect how much collectors are willing to spend on rare coins. Technological advancements in coin grading have made it easier to authenticate and precisely grade coins, increasing buyer confidence and potentially the value of certified coins. Additionally, trends in collecting can shift over time, with certain periods or types of coins becoming more popular among collectors, thereby influencing their market value. For example, the increased availability of information and online auctions has made it easier for collectors to find and bid on rare coins, potentially driving up prices for highly coveted pieces. These trends highlight the dynamic nature of the collectors' market, where values can fluctuate based on a complex interplay of historical significance, market demand, and the overall economic landscape.