Today, we refer to one dollar bills as “greenbacks,” but historically, they were coins, not notes. Some of these coins are now highly prized by collectors.
While we commonly associate the term “greenbacks” with paper money today, especially one-dollar bills, the earliest U.S. dollars were actually metal coins. Over the years, some of these coins have become treasured artifacts, commanding enormous sums at auction.
In this article, we’ll take a closer look at the most valuable one-dollar coin ever sold, along with several other rare examples that have brought collectors to bidding wars.
So, if you’re ready, dive into the captivating world of historic one-dollar coins…
Most Valuable One Dollar Coin
1794 Flowing Hair Silver Dollar, PCGS MS66
The 1794 Flowing Hair Silver Dollar is regarded as one of the most iconic coins ever minted in the United States. As the first year of production for silver dollars, this coin holds a special place in numismatic history. Experts believe this particular specimen may have been the inaugural coin struck by the U.S. Mint.
Certified by the Professional Coin Grading Service (PCGS) with an MS66 grade, it remains in mint condition with minimal handling or wear. In 2013, collector Bruce Morelan paid a staggering $10 million to acquire it, securing the coin through a record-breaking bid. In 2022, it changed hands again in a private sale, setting a new high at $12 million.
1870 S Seated Liberty Dollar, PCGS MS62
Among collectors, the 1870 S Seated Liberty Dollar is a prize few will ever own. Though several lower-grade examples exist, this particular coin stands out as the highest-graded known specimen, boasting an MS62 rating from PCGS. Its rarity and condition make it a centerpiece for any collection.
Back in 2003, the coin was auctioned for $1,092,500. Since then, experts estimate its current worth at around $2.5 million, although it could fetch significantly more depending on market demand and collector interest during a future auction.
1796 P Draped Bust Dollar, Small Date, Small Letters (Regular Strike), MS65
The 1796 Draped Bust Dollar is known for its three design variations, with the “small date, small letters” type being more frequently encountered. However, finding one in high-grade condition is exceptionally difficult. This MS65 coin represents one of the best-preserved examples of its kind.
When it came up for auction in 2020, it attracted significant attention, eventually selling for $705,000. This sale marked a huge jump from the $46,000 paid for a much more worn example back in 2003, highlighting how quality dramatically influences coin value.
1803 Draped Bust Dollar, PCGS PR66
The 1803 Draped Bust Dollar is a rare proof strike, with only four examples known to exist today. This version, graded PR66, is one of the finest. Proof coins were originally created for archival and presentation purposes, which typically makes them sharper in detail than regular issues.
When this coin went under the hammer in 2013, it drew serious interest from collectors and eventually sold for $852,000. Its combination of rarity, historical relevance, and quality makes it one of the most desired early American proofs.
1804 Draped Bust Dollar, Class I, PCGS PR68
Often referred to as the “King of American Coins,” the 1804 Draped Bust Dollar, Class I, has long fascinated collectors. Only eight of these Class I specimens exist, originally intended as diplomatic gifts, including one presented to the Sultan of Muscat.
This particular piece, graded PR68, was auctioned in 2021 for a monumental $7.68 million. Its historical backstory, extreme rarity, and superb condition contribute to its legendary status in the numismatic world.
1795 Off-Center Bust Dollar, PCGS MS66 CAC
The 1795 Off-Center Bust Dollar stands out due to its striking error—a misaligned die that left the portrait noticeably off-center. This kind of minting flaw, when paired with high quality, makes for a highly collectible coin.
Graded MS66 and verified by the Certified Acceptance Corporation (CAC), this coin ranks among the top examples of error dollars. In 2020, it drew strong interest and ended up selling for $705,000 at auction, underscoring how errors can sometimes elevate a coin’s appeal and value.
1798 Wide Date Dollar, PCGS MS65 CAC
The 1798 Wide Date Dollar is considered a classic example of early U.S. coinage. This specific piece, evaluated as MS65 by PCGS and endorsed by CAC, exhibits excellent preservation and visual appeal.
Initially expected to sell in the range of $200,000 to $250,000, the final hammer price in 2020 reached $270,250. This result reflects how collectors often surpass estimates when pursuing rare examples in top condition.
1804 Draped Bust Dollar Restrike – Class III, PCGS PR58
The Class III version of the 1804 Draped Bust Dollar is a mysterious piece of American coinage. Unlike the Class I originals, these restrikes were secretly minted years later to resemble their older counterparts. Only six known Class III pieces exist today.
This example, rated PR58, was sold in 2009 for $2.3 million. Though not as pristine as other proof coins, its rarity and enigmatic history continue to captivate collectors and historians alike.
1893 S Morgan Silver Dollar, PCGS MS67 CAC
The 1893 S Morgan Dollar holds a special place in coin collecting due to its low mintage and high attrition. Only 100,000 were originally struck, many of which were later melted, making surviving specimens especially desirable.
The finest known example, graded MS67 by PCGS and verified by CAC, achieved a sale price of $2.1 million in 2021. For Morgan Dollar enthusiasts, this coin represents the pinnacle of the series and a once-in-a-lifetime acquisition.
1964-D Peace Dollar
The 1964-D Peace Dollar remains one of the most intriguing and elusive coins in U.S. numismatics. Although 316,000 were minted in Denver in early 1965, the entire run was ordered destroyed before release, and none are supposed to exist today.
Rumors persist about surviving examples, but none have been publicly confirmed. PCGS has offered a $10,000 reward just to verify a genuine specimen. If one were ever found, its value would be incalculable due to its historical significance and legal ambiguity.
1976 Eisenhower Dollar No S, Type II, Silver, PCGS PR66 CAM
The 1976 Eisenhower Dollar without an “S” mintmark stands as the rarest of all modern U.S. coins. Produced in Philadelphia as a trial version, this silver coin lacked the expected San Francisco mintmark and features the more refined “Type II” reverse design.
Only one such example is known, and it’s graded PR66 with cameo contrast. Estimated at around $850,000 in value, it represents a unique piece of U.S. minting history and a holy grail for modern coin collectors.
Conclusion
We’ve now taken a fascinating journey through some of the rarest and most valuable one-dollar coins ever produced. From historic designs to minting oddities, these coins not only hold immense financial value but also tell stories from America’s earliest days.
If you happen to come across a silver dollar, particularly from the 19th or early 20th century—or even a rumored 1964 Peace Dollar—consider having it appraised. Who knows? You might be holding a piece of numismatic legend in your hands.
FAQ
What makes the 1794 Flowing Hair Silver Dollar so valuable?
The 1794 Flowing Hair Silver Dollar is believed to be one of the first silver dollars minted, and its exceptional quality (graded MS66) makes it highly desirable to collectors. It fetched a record-breaking $10 million at auction in 2013.
Why is the 1870 S Seated Liberty Dollar so sought after?
This coin is one of the finest surviving examples of the 1870 S Seated Liberty Dollar, with a grade of MS62. Its rarity and historical significance contribute to its high value, with a current estimated worth of around $2.5 million.
What is a “Proof” coin?
A “Proof” coin is a specially made coin intended for collectors, often with higher quality than typical circulation coins. These coins are struck multiple times to create a detailed, mirror-like finish, making them much rarer and more valuable.
What is the significance of the 1964-D Peace Dollar?
The 1964-D Peace Dollar is famous for being controversial, as it is unclear whether it even exists due to the cancellation of its production. If one were to surface, its value would be astronomical, making it one of the most mysterious coins in American history.