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 are they so expensive and how much are they really worth, and can you find them at different shows like coin shows in New York? These questions will be discussed today. We are about to start our exploration of the most expensive coins right now.

1. 1794 Flowing Hair Silver Dollar

Description: 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.

History: This coin 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 coins were struck.

Price: In 2022, a specimen of this coin sold for $12 million at auction. It is one of the most valuable coins ever sold​.

2. 1933 Saint-Gaudens Double Eagle

Description: The 1933 Saint-Gaudens Double Eagle is a $20 gold coin designed by Augustus Saint-Gaudens. It features Lady Liberty striding forward on the obverse and a soaring eagle on the reverse.

History: Although 445,500 of these coins 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 coins are believed to be “ghost” ones.

Price: One of these coins sold for $7.2 million in 2002.

3. 1787 Brasher Doubloon

Description: The Brasher Doubloon is a gold coin 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.

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

Price: In 2021, a Brasher Doubloon sold for $4.5 million, highlighting its status as one of the most valuable and historically significant American coins​.

4. 1804 Silver Dollar (Class I)

Description: The 1804 Silver Dollar, known as the "King of Coins," is one of the most famous and coveted U.S. coins. It features a bust of Liberty on the obverse and an eagle on the reverse.

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

Price: A Class I specimen sold for $7.68 million in 2021.

5. 1913 Liberty Head V Nickel

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

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

Price: One of these nickels sold for $3.7 million in 2010, emphasizing its rarity and the intrigue surrounding its creation.

These coins are prized not only for their rarity and historical background but also for the stories and mysteries that surround them. They represent milestones in numismatic history and continue to captivate a lot of collectors every year. 

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. 

What Coin Proof Sets Are Worth Money?

A coin proof set is a collection of specially struck coins with a higher level of detail and finish than regular circulation coins, 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 coin 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 hear about:

• 1859 Six-Piece Gold Proof Set: This set includes uncirculated proof coins 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: Consisting of coins from a half-cent to a dollar, this set is valued for its age and excellent condition.

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

• 1914 Nine-Piece Proof Set: This set includes nine coins, 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 coins remains excellent.

Note: When collecting or investing in coin sets, factors such as 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 and appeal to collectors worldwide.

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. There are even more of them. 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 coin collector will be able to find exactly what he likes. Everything else is just a matter of money.

Sources: 

1. https://www.coleccionistasdemonedas.com/en/valuable-coins-to-collect/valuable-proof-sets-value-list/

2. https://www.pcgs.com/prices/detail/proof-sets/932/most-active