Whether you’re a long-time coin collector or a newbie, you know the excitement of securing a prized specimen in the numismatic universe. Among the most coveted coins for enthusiasts in the U.S. is the Flowing Hair silver dollar.
The first silver dollar minted in the fledgling American nation is one of the most sought-after coins for its value as a rare piece of U.S. history. If you’re looking for a foundational coin to boost your collection or begin a new one, here’s what you need to know about the Flowing Hair silver dollar and why it might be worth your investment.
Value of the Flowing Hair Silver Dollar
The numismatic world considers the Flowing Hair silver dollar valuable primarily because of its historical importance. It was the first silver dollar struck by the U.S. Mint as the young country tried to establish a system of currency.
Several other factors contribute to its value. The silver Flowing Hair dollar coin’s worth stems from its rarity because of its limited mintage in 1794 and 1795, the quality of its design (early coins were struck weakly, adding value to coins with sharp details) and collector demand.
If you discover one or have a chance to buy one, the Flowing Hair dollar coin can run from several thousand to several million dollars, depending on the mint year and variety.
A coin graded in poor to good condition by the Professional Coin Grading Service (PCGS) sold at auction in 2019 for $1,200, and a mint-state uncirculated coin graded as MS65 (gem uncirculated) by the Numismatic Guaranty Company (NGC) sold for $646,250 in 2013.
In a 2022 private sale, the Flowing Hair Dollar sold for $12 million, breaking its own 2013 auction record of more than $10 million. That’s the second-highest amount ever paid for a coin.
What Makes the Coin Valuable?
The Flowing Hair silver dollar value is more numismatic than intrinsic. The coin is just 89.24% silver, with copper making up the remainder of the bullion alloy. However, because it was the first official silver dollar struck by the U.S. Mint, it is one of the most coveted specimens in the U.S.
This particular silver dollar is also considered one of the most valuable coins in the world, worth millions in some cases because of its scarcity and high demand. Just 140 to 150 are thought to exist after an extremely low mintage (by today’s standards) of 1,758 in 1794 and 160,295 in 1795.
As a unique slice of Americana, the Flowing Hair silver dollar holds significant value in all grades. Weak striking in the early days of minting coins in the U.S. can vary their worth considerably. However, worn, well-circulated versions still fetch thousands of dollars and are expected to continue to increase in value because of their rarity.
History of the Flowing Hair Silver Dollar
The Flowing Hair Silver Dollar is central to coinage in the United States and U.S. history in general. On April 2, 1792, the U.S. Congress passed the Coinage Act of 1792, also known as the Mint Act, with the official title of “An Act establishing a Mint, and regulating the Coins of the United States.”
Congress chose to build the first mint in Philadelphia, which was the nation’s capital at the time. The new law denoted the metals and denominations of the first official U.S. coins, including a dollar made of silver, and established the dollar-based monetary system for the U.S.
Chief Engraver Robert Scot, entrusted with designing the first silver dollar of the U.S., drafted a more mature version of Liberty, which Joseph Wright first featured on the Libertas Americana medal of 1783.
Scot turned Liberty to the right, with her hair flowing to the left. “LIBERTY” is inscribed overhead, “1794” appears underneath, and 15 stars — seven in front of and eight behind her profile, representing the 15 states in the union at the time — fill the obverse. On the reverse, a spread-winged eagle is encircled by a wreath, which is surrounded by the inscription, “UNITED STATES OF AMERICA.”
Using $2,001.34 worth of silver deposited by David Rittenhouse, the first mint director, the U.S. Mint produced 2,000 silver dollars on Oct. 15, 1794. Of those, 242 were rejected, leaving a mintage of 1,758. With an improved process, the Mint produced 160,295 coins in 1795 before the coin was discontinued.
Investment Potential of the Flowing Hair Silver Dollar
Bathed in history, rare and demanded by collectors, the Flowing Hair silver dollar is considered a prize find and an investment. Some of the coins have brought in millions.
That 1794 Flowing Hair silver dollar that went for $12 million in 2022 was purchased by Irvine, California-based GreatCollections. Owner Ian Russell is considered one of the world’s most influential coin graders and numismatists. He bought the coin from Bruce Morelan, a Nevada businessman, who paid $10 million for it in 2013.
As a symbol of the first silver coinage in the U.S., the Flowing Hair silver dollar is considered one of the most important and valuable coins ever struck by the U.S. Mint. It represents America determining, shaping and flexing its financial identity as a new nation.
Consider Investing in the Flowing Hair Silver Dollar
At the heart of coin collecting, owning a piece of history or art can supersede the bullion value of the coin. That’s especially true for new and seasoned coin collectors pursuing the Flowing Hair dollar, the first silver dollar minted in the U.S. Now armed with more information about this historic coin, you can consider whether you want to add one to your investment portfolio.
Frequently Asked Questions
How much is a 1795 Flowing Hair dollar worth today?
The Numismatic Guaranty Company (NGC), a coin grading service, lists the 1795 Flowing Hair dollar from $3,000 for a low-grade coin to $1 million for a coin graded MS66. APMEX, one of the world’s largest precious metals dealers and the largest in the U.S., priced the 1795 Flowing Hair Dollar between $4,745 and $1.16 million in September 2025, based on a website it updates every month.
How many flowing hair silver dollars were made?
In 1794, 2,000 of the coins were struck, but 242 were rejected and either melted or used as planchets for later silver dollars, leaving 1,758. The U.S. Mint struck another 160,295 for 1795 in two types — those with two leaves and those with three leaves — before ending production of the coin in October.
What is the history of the flowing hair coin?
The history of the flowing hair coin stretches back to the U.S. Congress approving the 1792 Coinage Act, establishing the U.S. monetary system and calling for the production of a silver dollar, among other coins. Using a design by the U.S. Mint’s first engraver, Robert Scot, the Flowing Hair silver dollar was struck on Oct. 15, 1794, from silver deposited by David Rittenhouse, the first director of the Mint.
About Sarah Edwards
Sarah Edwards is a finance writer passionate about helping people learn more about what’s needed to achieve their financial goals. She has nearly a decade of writing experience focused on budgeting, investment strategies, retirement and industry trends. Her work has been published on NerdWallet and FinImpact.
