Known by collectors as "The King of Coins," an 1804-dated U.S. silver dollar specially made on behalf of President Andrew Jackson and still in mint condition, is expected to sell for more than $3 million in a public auction Friday, Aug. 9.
"Although it's dated 1804, it was actually made in 1834 or 1835. It was intended to be given as a diplomatic gift on behalf of President Andrew Jackson by State Department representatives on trade missions to the Middle East and Asia," said Greg Rohan, president of Heritage Auctions of Dallas, Texas, the firm that will conduct the auction live and online at www.HA.com.
Only eight of the coins were minted. The consignor wants to remain anonymous, but previous owners of this coin include the Massachusetts Historical Society and Adam Eckfeldt, who served as the chief coiner of the United States Mint from 1814 to 1839.
Mint records indicate a total of 19,570 silver dollars were struck in 1804; however, researchers believe that all those coins were actually dated either 1802 or 1803 because leftover coin-making dies from those years were likely used to produce the silver dollars struck in 1804.
The Mint would not strike silver dollars for circulation again until 1836.
When Mint officials began preparing sets of coins in 1834 to be given by the State Department as diplomatic gifts, the Mint records indicated the last year for production of U.S. silver dollars was 1804, but they could not locate any with that date. So, they specially made some.
The front of the coin depicts the symbolic Miss Liberty. The back has an eagle and 13 stars to represent the original 13 colonies.
"It is always an event when an 1804 dollar shows up for auction," said Rohan.
The coin is one of the highlights of a three-day, multimillion dollar rare coin auction at the Hyatt Rosemont, 6350 N. River Road, Thursday, Aug. 8, to Saturday, Aug. 10, in advance of the World's Fair of Money, Tuesday, Aug. 13, to Saturday, Aug. 17, at the Donald E. Stephens Convention Center.
For details, visit www.HA.com.