First ever US silver dollar sells for $12million - how to check how much your coins are worth
A DOLLAR coin said to be the first ever struck by the US Mint has sold for a whopping $12million.
The silver dollar coin features the year of 1794 with Liberty’s head staring towards the top right on the obverse.
The reverse features an eagle with the words “United States Of America” surrounding it.
It was sold by Las Vegas business executive Bruce Morelan to GreatCollections Coin Auctions of Irvine, California.
GreatCollections president Ian Russell calls the piece “America’s most coveted silver dollar” that was likely seen by founding fathers George Washington, Thomas Jefferson and Alexander Hamilton.
“A total of 1,758 silver dollars made in Philadelphia on a hand-turned coining press were delivered by the United States Mint to government officials in October 1794," Mr Russell said.
“Only about 140 still survive, and this 1794 silver dollar is the only known specimen-striking, substantially better than the examples in the Smithsonian Institution’s National Numismatic Collection and the American Numismatic Association museum.”
The piece is the “second most valuable rare coin of any kind,” he added.
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In 2013, Mr Morelan bought the 1794 silver dollar for a little more than $10million, which was a record at the time.
It means he's now made an almost $2million profit on the coin.
While the 60-year-old coin collector once called the 1794 silver piece a “lifelong dream”, that hasn’t stopped him from putting it up from auctions in the past.
In 2020, Mr Morelan, who has been collecting coins since age six, failed to sell the coin in a public auction in Las Vegas.
Rare coins
You may be holding something valuable in your wallet. Check out these articles on rare coins to see if you may have a treasure hidden deep in your pockets.
How to check how much your coins are worth
While your coins could be quite valuable – it might be a little too ambitious to expect your pieces to sell for millions.
Instead, you might want to temper your expectations to either hundreds or thousands.
That said, you’ll want to check your change for rare nickels, dimes, half dollars, Lincoln pennies, and see what they are worth.
The most valuable coins are usually those with a low mintage or an error, as they're deemed the most valuable by collectors.
To check if your coins are worth anything on eBay, search the full name, select the "sold" listing and then toggle the search to "highest value”.
It will give you an idea of the amount of money that the coin is going for.
You can either choose to sell the coin on eBay or through a specialist site such as Coinappraiser or USA Coin Book.
In other recent coin news, a rare Lincoln penny sold for more than $200 online.
Read More on The US Sun
Also, a counterfeit Jefferson nickel sold for more than $400.
Plus, we show you how to find rare coins including ones featuring Lincoln.
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