Collecting rare coins can be both a fascinating and lucrative hobby, especially when those coins are worth millions. Whether found in old furniture, the bottom of a drawer, or a dusty coin collection, rare U.S. dollar coins can turn an average day into a profitable adventure. Here’s a look at some of the rarest dollar coins in the United States that collectors and dealers alike are always on the hunt for.
1. 1794 Flowing Hair Silver Dollar
The 1794 Flowing Hair Silver Dollar is the first official dollar coin ever produced by the U.S. Mint. Introduced in 1794, the coin features Liberty with flowing hair on one side. Today, only around 150 specimens exist, making it one of the rarest coins in U.S. history.
One of the most prized versions, known as Specimen-66, was sold for more than $10 million in 2013. Given the rarity and value of these coins, if you come across one, it’s important to have it authenticated by a reputable service, as counterfeiting is a major concern.
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2. 1804 Silver Dollar (Class I) – Watters-Childs Specimen
The 1804 Silver Dollar, though dated 1804, wasn’t actually minted until the 1830s. This coin, often referred to as the “King of American Coins,” is highly sought after by collectors. The Watters-Childs Specimen, part of the Class I series, is one of only 15 known examples.
Initially owned by the Sultan of Muscat in 1835, this coin has passed through some prestigious hands. Each of these coins is worth over a million dollars, with a single piece holding both historical and monetary value.
3. 1804 Bust Dollar (Class I) – Dexter-Pogue Specimen
Another rare and coveted version of the 1804 dollar is the Dexter-Pogue Specimen. This particular coin was minted in 1834, specifically for diplomatic purposes. It is one of only eight Class I originals and has an intriguing history.
Owned by prominent numismatist James V. Dexter for 14 years, the coin is notable for a small “D” that was punched into a cloud on its reverse side. The “D” is believed to have been added by a later collector, William Forrester Dunham. The coin’s unusual marking, combined with its rarity, makes it a prized possession among collectors.
4. 1870-S Liberty Seated Dollar
Anything minted in 1870 is a collector’s dream, especially coins from the San Francisco Mint, which was just starting its operations. The 1870-S Liberty Seated Dollar is one of the rarest U.S. coins, with only a few known to exist.
If you’re lucky enough to find one of these coins in uncirculated condition, it could be worth over $2 million. Even coins in poor condition can fetch over $177,000, making this a true gem for any collector. The “S” under the eagle on the reverse side of the coin is a telltale sign that you have something extremely valuable.
5. 1776 Silver Continental Dollar – Eric P. Newman Specimen
This coin commemorates America’s independence, having been minted shortly after the signing of the Declaration of Independence. Designed by Benjamin Franklin, the coin features unique phrases like “Fugio” (time flies) and “Mind your business,” along with 13 interlocking rings symbolizing the original colonies.
While most of these dollars were struck in pewter, the silver specimens are particularly rare. The Eric P. Newman Specimen, one of only four known examples, was sold for $1.4 million, making it one of the most valuable coins from this era.
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6. 1866 Proof Liberty Seated Dollar
In 1866, the U.S. Mint produced 725 Proof Liberty Seated Silver Dollars, but only a couple of these coins were made without the “In God We Trust” motto. These were specially commissioned by collector and pharmacist Robert Coulton Davis, who allegedly provided mint workers with opium in exchange for their work.
Only two of these coins without the motto exist today, making them incredibly rare. One is housed in a museum, while the other was stolen in a 1967 heist and later recovered. It was eventually donated to the Smithsonian Institution, where it remains on display as part of the National Numismatic Collection.
Ethan is a passionate rare coin collector with years of experience uncovering the stories and history behind unique coins. His insightful articles are a go-to for anyone curious about coin values or their fascinating backstories.