'Oswald' 1794 silver dollar auctions for $5m

The Lord St Oswald 1794 Flowing Hair silver dollar has sold for $5m.

The rare coin - named after the British collector who first acquired the coin - starred at Stack's Bowers Galleries' second sale of the D Brent Pogue collection on September 30.

1794 Stacks Bowers
"Much more than a numismatic treasure'

One of just 1,758 examples of America's first dollar ever minted, this is one of the best quality.

Its "Mint State 66+" condition was a key factor in its strong price, as was its provenance. Remarkably, the coin's ownership can be traced back to its inception.

It stayed in the same family until the 1960s.

"This elegant coin, whose simplicity cloaks its world-wide historical relevance, is much more than a numismatic treasure," said the auction house.

"It is among the first examples of a currency that would become the most dominant the world has ever seen. The story of the American dollar, recognized in every corner of the globe today, starts here."

In 2013, Stack's Bowers sold the finest known 1794 dollar for $10m.

The auction realised $26.1m in total - above the estimate of $20.6m.

A 1795 Capped Bust Right Eagle was another highlight. It sold for $2.5m - a testament to this issue's status as the US' first gold coin.

The D Brent Pogue coin collection is thought to be the world's most valuable.

In May, 125 pieces from the Pogue collection made $25.3m. The next sale of its contents will take place in February.  

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