Why is this coin worth $10m?

A US silver dollar worth more than $10m has gone on display in London. But what makes this coin the most valuable in the world?It measures 4cm (1.6in) across and would make $12 if sold for scrap silver today, but the “Amon Carter” Flowing Hair Silver Dollar is a record-breaker. It was bought by a private collector in 2013 for $10m (about £7m).

The astonishing price-tag is thanks to it ticking three all-important boxes – rarity, condition and cultural value. But perhaps the greatest selling point is who handled it. Many experts believe it could be the first dollar ever to be struck. This means President George Washington himself would have personally inspected it.

What is known for sure is that it was one of 1,758 struck on 15 October 1794 at the fledgling Philadelphia Mint. Only about 130 survive today. It shows the figure of Liberty with long hair on one side, surrounded by 15 stars representing the 15 US states at that time. The reverse side features an eagle with its wings open and encircled by a wreath. In 1795 the Liberty flowing hair design was replaced by a draped bust design.

“A rare coin is one of a few thousand. We would class the 1794 coin as very or extremely rare,” says Richard West from coin and medal auction house Baldwin’s. Source: Why is this coin worth $10m?

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