Prototype of the first dollar coin to be auctioned

Struck by the United States Mint in Philadelphia in 1794, a piece of copper, the archetype of fledgling country money, will be auctioned on Friday.

Bob Simpson, co-chair of the businessman and the Texas Rangers, owns an item known as the “Starless Hair Dollar”.

It looks a lot like a silver coin that was later cast in Philadelphia, but it is named because it has no stars.

“A subsequent dollar coin featuring a star was added to the front of the coin, but the starless coin is considered by collectors and institutions to be a unique prototype of the silver example that follows,” Heritage Auctions said. Said Jaco Prypson.

Heritage Auctions estimates that when the prototype is blocked online in Dallas on Friday, it will sell between $ 350,000 and $ 500,000.

Known as the pattern, the front features a portrait of Liberty and the flowing hair dated 1794, and the back depicts a small eagle on a rock in a wreath. A similar starless example is part of the Smithsonian Museum’s National Monetary Collection.

“It’s incredibly exciting,” said California-based numismatist David McCarthy. “This tells us what was happening inside Mentha when it was preparing to win the first dollar in 1794.”

The pattern was forgotten as Mentha continued the process of making the country’s first silver coin.

“Coin-collecting folklore states that a unique rarity was unearthed from the location of the first Philadelphia Mint before 1876,” Lipson said. That was how the first owners of coins explained their history in their first auction appearance in 1890.

According to Lipson, the pattern is corroded and not in perfect condition. Probably because it was buried in the original mint location. There are scratches and other marks on the brown surface.

According to the auction house, it exchanged hands eight times.

73-year-old Simpson purchased alongside other patterns in 2008 and added it to his large collection. He considers himself a steward and thinks it’s time for someone else to enjoy it.

“I think coins should be valued mostly as artwork,” he said. “I got more than enough joy from them.”

Simpson said he wasn’t wealthy when he started collecting. As a boy, he went to the bank and told him to get some coins and look them up. That was part of the fun he said he had in this country.

“I think America is the only place where we can move from poverty to wealth based on education,” he said.