Last week, a 1794 Flowing Hair Silver Dollar that may be the oldest known silver dollar was sold for a record $7.85 million! Steven L. Contursi of Rare Coin Wholesalers of Irvine, California sold the coin to Cardinal Collection Educational Foundation of Sunnyvale, California in a private sale.

The coin was graded by Professional Coin Grading Service as Specimen 66 (SP66).

The sale surpasses the $7.59 million paid (including buyer’s premium) in 2002 for the legendary Farouk-Fenton 1933 Double Eagle.

As an interesting aside, the Farouk-Fenton would be worth $9,197,822 accounting for inflation between 2002 and 2010. Of course the coin could sell for more if it should come up for sale again. However, the existance of the ten Langbord-Switt 1933 Double Eagles could change the perception of value for all of the 1933 Double Eagles.

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