Rare silver dollar sells for $3.88 million in Rosemont
An 1804-dated U.S. silver dollar specially made on behalf of President Andrew Jackson sold for $3,877,500 in a public auction Thursday night in Rosemont. The pre-sale estimate was $3 million.
The coin is dated 1804, but it was actually made in 1834 or 1835 as a diplomatic gift for use on trade missions to the Middle East and Asia. Eight are known to exist.
Mint records indicate 19,570 silver dollars were struck in 1804; however, researchers believe they were dated either 1802 or 1803. The Mint did 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, Mint records indicate they could not find any dated 1804, so they made some.
Neither the name of the consignor nor the winning bidder was revealed by Heritage Auctions.
Additional information is at www.HA.com.