September 22, 2021

Ukraine Breaking News

Ukraine Breaking News | The Latest News In Ukraine

Prototype of the first US dollar coins at auction

Prototype of the first US dollar coins at auction


A piece of copper that was minted by the United States Mint in Philadelphia in 1794 and was a prototype for the fledgling nation’s money will go up for auction on Friday.
Texas Rangers businessman and co-chair Bob Simpson owns the item, known as the “starless hair dollar”.
Although it looks a lot like the silver dollars that were later minted in Philadelphia, it gets its name because it lacks stars.
“While later star-minted dollar coins were added to the front of the coin, starless coins are considered by collectors and institutions as unique prototypes for the silver examples that would follow,” said Heritage’s Jacop Lipson. Auctions.
Heritage Auctions estimates the prototype will sell between $ 350,000 and $ 500,000 when it becomes available online in Dallas on Friday.
Known as a motif, the front features the portrait of Liberty’s flowing hair and the date 1794, while the back shows a small eagle on a rock within a crown. Similar examples without stars are part of the Smithsonian Institution’s National Numismatic Collection.
“It’s incredibly exciting,” said Californian numismatist David McCarthy. “It gives us a glimpse of what was going on inside the Mint in 1794, when it was preparing to make the first dollars ever minted.”
The model was forgotten as the Mint continued the process of creating the nation’s first silver dollars.
“The coin collecting tradition states that the unique rarity was excavated from the site of the first Philadelphia mint before 1876,” Lipson said. Thus it was that the first owner of the coin described its history at its first appearance at auction in 1890.
The model is corroded and not in perfect condition, Lipson said, likely because it was buried at the site of the original mint. There are some scratches and other marks on its brown surfaces.
He traded hands eight times, according to the auction house.
Simpson, 73, bought it along with other models in 2008 to add to his vast collection. He considers himself a butler and thinks it’s time for someone else to have fun.
“I think coins should be valued almost like works of art,” he said. “I got more than enough joy from them.”
Simpson said he wasn’t rich when he started collecting. As a boy, he said he would go to the bank, take a roll of coins and examine them. It was part of the fun he said he had in this country.
“America is the only place, I think, where you can travel from near poverty to education-based wealth,” he said.