A 1794 Flowing Hair U.S. silver dollar, owned by collector Bruce Moreland and formerly owned by the Cardinal Collection Educational Foundation, now has been sold by Legend Numismatics, Inc. of Lincroft, New Jersey for “in the area of $1.5 million,” according to Laura Sperber, Legend President. The coin is graded PCGS Secure Plus™ MS63+ and is CAC-certified.
Only 1,758 silver dollars were recorded minted in 1794, the first year of production for that denomination at the United States Mint. PCGS CoinFacts estimates only about 150 survive today with less than a dozen in mint state.
“The new owner of the 1794 dollar is a lifelong collector and a major Wall Street executive. He now focuses on high-grade, early type coins, and he thinks rare coins are a good value today. He does not believe prices are maxed out for the rare and higher-grade early pieces,” she said.
“He is now the seventh different collector who has purchased a million dollar or more individual coin or set from Legend. I think that shows the continuing strength and appeal of the market for high-quality rare coins,” stated Sperber.
In a separate, $2.5-million transaction, Legend has acquired the Dakota Collection consisting of approximately 2,000 high-grade 20th-century U.S. type coins.
“It includes some of the finest known Buffalo nickels, Standing Liberty quarters and Walking Liberty half dollars. There are choice BU 1916 and 1918 Buffalo overdates and superb gem 1919, 1925, 1926 and 1927 San Francisco Mint Buffalos. There also are fantastic quality early Walkers including a gem 1921-S graded PCGS MS65 and 1923-S graded PCGS MS66,” said Sperber.
"This is one of the most amazing 20th-century collections I have ever seen. You can tell the collector had passion and a sense for quality. Each coin has been a treat to see.”
She described the Dakota Collection seller as “a very low key individual who has collected all his life and quietly assembled this particular 20th-century type collection over 25 years. He’s only selling now because he is preparing to retire. He feels he has too many collectibles and doesn’t want a huge collection of thousands of coins to be a future burden on his family. He’s actually still collecting coins, but now he’s building smaller sets.”