Million-Dollar Coins: What Makes Them So Valuable?

Have you ever heard of coins worth over 1 million dollars? They exist, and people actually buy and sell them. What are these coins? What coin sets are worth money? Why is the 7.6-million-dollar Double Eagle coin so valuable? And can you find them at different shows like coin shows in New York? These questions will be discussed today. 

The Most Expensive Coins

1. 1794 Flowing Hair Silver Dollar

The 1794 Flowing Hair Silver Dollar is believed to be the first silver dollar minted by the United States. It features Lady Liberty with flowing hair on the obverse and an eagle on the reverse.

This piece was minted shortly after the establishment of the U.S. Mint and is considered a prototype for subsequent silver dollars. Only about 1,758 of these pieces were struck.

What coin is worth 19 million dollars? This one may become such. In 2022, a specimen was sold for $12 million at auction. It is one of the most valuable coins ever sold​.

2. 1933 Saint-Gaudens Double Eagle

The 1933 Saint-Gaudens Double Eagle is a million dollar gold coin designed by Augustus Saint-Gaudens. It features Lady Liberty striding forward on the obverse and a soaring eagle on the reverse.

Although 445,500 of them were minted, they were never officially released into circulation due to the Gold Reserve Act, which outlawed the circulation of gold coins. Most were melted down, but a few survived. Since that time, these $7.6 million rare Double Eagle coin pieces are believed to be “ghost” ones.

3. 1787 Brasher Doubloon

The Brasher Doubloon is a gold one privately minted by Ephraim Brasher, a New York City goldsmith and silversmith. It features an eagle with a shield on the obverse and the state seal of New York on the reverse.

Ephraim Brasher produced them before the U.S. Mint was established, making them some of the earliest American gold pieces. They are extremely rare, with only a few known to exist.

Its price is even more than one million dollar coin USA. In 2021, a Brasher Doubloon sold for $9.36 million, highlighting its status as one of the most valuable and historically significant American specimens.

4. 1804 Silver Dollar (Class I)

What coin is worth a million dollars? Not this one, as it is even more expensive! The 1804 Silver Dollar, known as the "King of Coins," is one of the most famous and coveted U.S. pieces. It features a bust of Liberty on the obverse and an eagle on the reverse.

Despite being dated 1804, they were actually minted in the 1830s as diplomatic gifts. Only 15 are known to exist, classified into three classes based on their origin.

What is its actual million coin price? A Class I specimen sold for $7.68 million in 2021.

5. 1913 Liberty Head V Nickel

The 1913 Liberty Head V Nickel is an iconic and extremely rare one. It features Lady Liberty on the obverse and a Roman numeral V (five) on the reverse.

Only five specimens were produced under mysterious circumstances, possibly without official authorization. They have since become legendary in the numismatic world.

It’s not a 1 million coin. One of these nickels sold for $3.7 million in 2010, emphasizing its rarity and the intrigue surrounding its creation.

If you want to find out more about coins and want to identify them just by a snap, use the Coin ID Scanner app. It is a leading tool for identifying coins and their values worldwide. Who knows, what if you have a 19 million dollar coin? 

What Coin Proof Sets Are Worth Money?

It is a collection of specially struck coins with a higher level of detail and finish than regular circulation ones, achieved by striking the coins multiple times with polished dies and planchets. 

These sets are typically packaged in protective cases and marketed to collectors by national mints. Proof sets usually include one piece of each denomination minted in a specific year and can also focus on particular themes. 

Their value is influenced by different factors, e.g., condition, rarity and the inclusion of precious metals. Notable examples include the 1968-S Proof Set (No S Dime) and the 1975-S Proof Set (No S Dime)​.

Here is a list of some expensive proof sets that you may have heard about (download Coin ID Scanner and check whether they include a coin worth 1 million dollars):

• 1859 Six-Piece Gold Proof Set: This set includes uncirculated proof pieces ranging from one dollar to $20, all in gold. It is highly prized for its pre-Civil War origin and pristine condition​.

• 1856 Nine-Piece Proof Set: From a half-cent to a dollar, this set is valued for its age and excellent condition.

• 1911 Four-Piece Matte Gold Proof Set: They were part of an experimental minting process and are extremely rare.

• 1914 Nine-Piece Proof Set: This set includes nine pieces, from a penny to a rare gold double eagle.

• 1895 Six-Piece Proof Set: Known for its completeness and condition, this set includes every denomination from a penny to a Morgan dollar.

• 1890 Ten-Piece Proof Set: This set includes coins from a penny to a gold double eagle and is highly valued.

• 1848 Seven-Piece Proof Set: Despite its age, the condition of these specimens remains excellent.

Note: When collecting or investing in such sets, factors like the presence of precious metals, the set's age, completeness and condition all are important for determining value. If you are interested in modern collections, certain proof sets from the U.S. Mint and Royal Mint continue to hold significant value (e.g., 1 million dollar coin specimens) and appeal to collectors worldwide.

Worth the Price

This was only a small part of the list of the most expensive coins. There are even more of them, e.g., ancient Greek coins that were made from gold, a rare coin worth $69 million and even million dollar quarter coin examples. They are all different. Some people are attracted by their stories and mysticism, others like to collect complete collections, and there are those who prefer them for their composition and status. 

In any case, any sophisticated collector will be able to find exactly what they like. Everything else is just a matter of money.

Sources: 

1. https://www.coleccionistasdemonedas.com/en/valuable-coins-to-collect/

2. https://www.pcgs.com/prices/detail/proof-sets/