Bellagio Auction Can't Unload Rare $10M Silver Dollar
EDITOR NOTE: Nobody wanted to fork over $10 million to buy a rare 1794 dollar. There are only 300 similar coins out there, and its numismatic value can only rise. Perhaps $10 million is a little steep for most coin collectors given our current economy, but still. Any buyers out there?
A renowned American collector sold a dozen rare coins, but he couldn’t unload his rarest — and most valuable: a 1794 silver dollar that experts predicted would sell for upward of $10 million.
Las Vegan Bruce Morelan kept his Flowing Hair Silver Dollar, one of the first 1,758 minted in the US, after no one placed his minimum bid, which are often what a seller paid for the coin, the Associated Press reported.
Morelan ponied up $10 million for the coin in 2013, and experts accepted that someone would bid much more.
The silver dollar, which has been certified as authentic, has Lady Liberty ringed with stars on the front and an eagle in the back. The Lady Liberty image was changed in 1795.
Experts believe the coin is one of only about 300 that still exist out of 1,758 struck in one day at the first US Mint in Philadelphia.
Morelan brought in almost $4 million from his 12 other coins, auctioned off Thursday at the Bellagio.
Originally posted on New York Post
