1794 Silver Dollar Coin Value: How Much Is It Worth Today?

Are you curious why is the 1794 flowing hair silver dollar worth so much? As the first silver dollar issued by the newly established United States Mint, the 1974 Flowing Hair silver dollar is among the most expensive silver dollars in history.

If you are thinking about investing in rare silver coins, our guide will walk you through the 1974 silver dollar value, its fascinating history, key features and how much a 1794 silver dollar is worth today.

With fewer than 200 known examples, this coin is truly rare. If you ever come across a 1794 Flowing Hair Silver Dollar, you might be holding a small fortune. Later, we’ll cover how to determine the value of a 1794 Silver Dollar and how to spot a fake 1794 Silver Dollar to ensure you’re making a sound investment.

So, let’s get started and find out what is a 1794 silver dollar worth today.

1794 Silver Dollar Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1794-No Mint Mark Silver Dollar Value	$100,000	$200,000	$450,000	$8,250,000

 

 

History of the 1794 Silver Dollar

The Flowing Hair dollar was the first silver dollar coin the United States Federal government issued after extensive lobbying for a national coin. Before this, business and trade in the U.S. relied on the Spanish dollar, commonly known as eight-real or pieces of eight.

The journey toward a national currency began after the ratification of the U.S. Constitution in 1789, which gave Congress the power to create a federal monetary system. This led to Treasury Secretary Alexander Hamilton conducting a thorough study of the nation’s currency needs, including an assay test of the widely used Spanish dollar.

Based on his findings, Hamilton recommended that the new U.S. dollar coin contain 371.25 grains of silver and have a gross weight of 416 grains. In March 1791, Congress reviewed his report and approved the formation of a United States Mint in Philadelphia—the nation’s first official minting facility.

Initially, the Senate proposed placing President George Washington’s profile on the coin’s obverse, but the House of Representatives rejected the idea. Instead, they favored an allegorical representation of Liberty—a decision that ultimately shaped the design of America’s early coinage. In April 1792, Washington signed the Coinage Act of 1792, officially establishing the United States Mint.

The Act allowed for the creation of the United States Mint, and allocated the cost of operating the mint and producing the money, which would include eagles, half eagles and quarter eagles, dollar, half dollars and quarter dollars, dimes and half dimes, cents and half cents.

In 1794, Robert Scot, the first Chief Engraver of the U.S. Mint, designed the Flowing Hair Silver Dollar. His initial design featured Liberty’s profile on the obverse and a small eagle on the reverse. However, after recommendations from government officials, Scot made some adjustments, such as moving the denomination to the edge of the coin and adding a wreath around the eagle.

The first 1794 Silver Dollars were struck in October 1794, with 1,758 coins produced. Unfortunately, the Mint’s coining press was too weak to properly strike the design, resulting in coins with weak details.

After the production of this first batch, Rittenhouse halted the production of silver dollars until the Mint could build better coining presses. The new presses were introduced at the start of 1795 and the first 3,810 silver dollars were released into circulation by May. By October of the same year, the Draped Bust dollar had already been introduced to replace the Flowing Har silver dollar.

David Rittenhouse, the first Director of the United States Mint, tried to circulate these new silver dollars by spending some. However, due to the striking issues, he stopped production until stronger coining presses could be built.

By early 1795, the Mint had improved its coining presses, and the first 3,810 silver dollars were successfully minted and placed into circulation by May. However, by October 1795, the Draped Bust Dollar had already been introduced, officially replacing the Flowing Hair Silver Dollar after just one year of production.

In the early 1990s, experts only about 120 to 130 specimens had survived. The finest known example—graded MS66—sold at auction for an astonishing $10,016,875!

Also read: 12 Most Valuable One-Dollar Coin Worth Money

 

Features of the 1794 Silver Dollar

With so many counterfeits out there, knowing the features of a 1794 Silver Dollar can help ensure authenticity.

Here’s what to look out for:

Obverse of the 1794 Silver Dollar

The obverse of the 1794 silver dollar features Lady Liberty’s right-facing portrait surrounded by fifteen stars.

 The portrait represents freedom while the stars symbolize the 15 states that had ratified the constitution at the time.

The year, 1794, appears at the bottom along the coin’s rim.

Reverse of the 1794 Silver Dollar

On the back, the 1794 silver dollar spots a small eagle with its wings spread out. The bird is perched on a rock and is surrounded by a laurel wreath.

The inscription, UNITED STATES OF AMERICA, appears around the coin’s circumference. As was common in early U.S. coins, the denomination doesn’t appear on the coin’s surface. Instead, the lettering HUNDRED CENTS ONE DOLLAR OR UNIT appears along the edge.

Other Features of the 1794 Silver Dollar

 Additional features of the 1794 Flowing Hair silver dollar are:

• Diameter:00 millimeters
• Weight:96 grams
• Metal: 90% silver and 10% copper
• Fineness:892
• ASW:7731oz
• Edge: Reeded and lettered

Also read: 12 Most Valuable One-Dollar Coin Worth Money

 

1794 Silver Dollar Grading

 When grading the 1794 silver dollar, pay attention to key details to identify higher grade specimens.

• Liberty’s hair and face: Examine Liberty’s cheek, forehead, nose, and mouth. Sharper details are common in higher grade coins.
• Eagle and wreath: On the reverse, assess high contact points such as the eagle and wreath. Coins with more visible details are better preserved and more valuable.
• Luster and strike: Few 1794 silver dollars have their original luster intact. But those that have some natural shine will typically be worth more. Also pay attention to signs of damage such as scratches, cracks and dings on the surface and along the rim as these can decrease the coin’s grade and value.

 

1794 Silver Dollar Value Guides

So, how much is the 1794 silver dollar worth? The U.S. Mint produced about 2,000 of these coins but only 1,758 were deemed suitable for circulation. Today there are about 120 to 130 survivors, most of which are damaged or in poor condition.

The 1794 Flowing Hair silver dollar was minted in Philadelphia, the only minting facility in existence at the time. As such, this coin only has a single type i.e., the 1794 No-Mint Mark silver dollar.

Let’s take a look at this variety and find out the value of 1794 silver dollars from the Philadelphia Mint.

 1794 No-Mint Mark Silver Dollar Value

 With an estimated mintage of about 1,758, the 1794 no-mintmark silver dollars are extremely rare. In fact, fewer than 150 examples are known to exist, with less than a dozen being graded as Mint State.

Today, only about 10 (possibly less) are professionally graded as MS60 or finer. If you are lucky enough to find any of these rare silver dollars, they might fetch you a fortune.

Many of the existing 1794 no-mint silver dollars are circulated and graded between Good and Fine, with very few qualifying for the Very Fine grade. Fewer than 15 are graded Extra Fine or better.

Here’s what to expect regarding the value of 1794 silver dollars:

Lower circulated examples: Majority of Flowing Hair dollar coins dated 1794 are in circulated condition. But, due to the coin’s rarity, even those graded Poor or Average can be worth a premium. For example, a 1794 silver dollar with a Poor rating on the Sheldon Scale can fetch as much as $70,000 while one graded Fine can sell for as much as $200,000.

Upper circulated examples: Pieces graded as Extra Fine (XF) are extremely rare and can fetch up to $450,000. Even rarer are the About Uncirculated (AU) 1794 silver dollars, which can be sold for up to $975,000.

Lower Mint State examples: Most uncirculated 1794 Flowing Hair silver dollars are in lower Mint State condition. At MS60, one such coin would fetch premium prices of up to $1,150,000 while at MS64, the specimen would bring in as much as $3,300,000. Keep in mind, though, that such pieces are extremely rare and can be out of reach even for the most experienced collectors.

Upper Mint State examples: Finding a 1794 silver dollar in upper Mint State is an extremely rare occurrence. Only one surviving specimen has earned the enviable grade of M66 and is worth $8,250,000 as of January 2025.

Due to its special place in history, the 1794 silver dollar is prone to counterfeiting. Over the years, forgers have found ways to expertly repair damaged pieces and misrepresent them as undamaged. You should carefully examine your silver dollars for signs of repair and consult a professional coin grader if you are unsure about the authenticity of your silver dollar.

Also read: Top 10 Most Valuable Morgan Silver Dollar Worth Money

 

Rare 1794 Silver Dollar Errors List

There are two main varieties of the 1794 silver dollar: B-1 and BB-1. Understanding these differences can help you spot rare coins.

Let’s learn more about the 1794 Silver Dollar varieties:

1. 1794 Silver Dollar B-1 Die Variety

As a collector, you have probably heard of Breen and Buckley—two famous numismatists known for cataloging die varieties. In their system, “B” and “BB” represent their initials, while the number, for example like B-1, BB-1, or even B-17 identifies the specific die variety.

Here’s how to identify a B-1 1794 Silver Dollar:

Obverse

Liberty’s hair curls close to the ear show a distinct strike, and there’s a sharp, pointy curl of hair above the ear.

The inscription, LIBERTY and the date, 1794, are relatively sharp.  Also, look out for a few, small die cracks around the coin’s lower edge.

Reverse

On the obverse, the eagle’s feathers have a distinct strike compared to other later designs. The same goes for the words UNITED STATES OF AMERICA and the wreath.

The Eagle’s wings and feathers are uniquely patterned and more defined than in other varieties.

2. 1794 Silver Dollar BB-1 (Breen-Buckley 1) Variety

Although the BB-1 variety shares many similarities with the B-1, there a few key differences:

Obverse

On coins struck with the BB-1 die variety, the hair curl near the year is larger and more pointed than the B-1 die variety. The strike quality is generally better and you will notice that the angles and lines are clearer.

Reverse

On the reverse, you will see that the details on the eagle’s breast are sharper than the B-1 variety. In addition, a close look shows that the feathering pattern is a bit different than the B-1 variety. Also, there is a subtle difference in the alignment and spacing between the word UNITED STATES OF AMERICA.

On both the obverse and reverse sides, you’ll notice clash marks and die cracks due to heavy use of these dies used to strike the coins.

 

Where to Sell Your 1749 Silver Dollar?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. 

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

FAQS

Why is the 1749 Flowing Hair silver dollar worth so much?

Even in lower grades, the 1794 silver dollar is one of the most expensive coins due to its incredibly low mintage of 1,758 pieces. On top of that, it was the first silver dollar minted by the United States Mint, making it a sought-after coin.

How can I tell if my 1794 Silver Dollar is real?

There are many counterfeit 1794 silver dollars. But, on the upside, you can identify authentic pieces! Start by comparing your coin to an image of a certified 1794 Flowing Hair Silver Dollar and check for things like Liberty’s hair and facial features on the obverse. On the reverse, check the small eagle and wreath, as well as the reeded lettered edge. Be on the lookout for odd textures or shapes/patterns that seem artificial or man-made.

How many 1794 Silver Dollars still exist today?

About 120 to 150 1794 silver dollars are believed to exist today with most being in poor or average condition.