COSTA MESA, CA.- Stacks Bowers Galleries
has sold the finest known 1804 silver dollar today for a record $7.68 million, in their official August 2021 Auction Rarities Night. The Sultan of Muscat-Childs-Pogue 1804 Class I silver dollar has been graded Proof-68 by PCGS,and is the single finest example of the King of American Coins. Its provenance began when it was delivered in 1835 as a diplomatic gift from the United States of America to Said bin Sultan Al-Said, the Sultan of Muscat and Oman. In its history, this 1804 dollar has resided in only four private numismatic collections, those of Charles A. Watters, Virgil M. Brand, the Childs family, and the Pogue family. Since its mysterious appearance in a London auction in 1917, this specimen has sold at auction only once, in 1999, when the Pogue family acquired it for the then world-record price of $4.14 million.
No other coin so singularly symbolizes rarity and desirability in American numismatics as does an 1804 silver dollar. Legendary even beyond the world of numismatics, no other American coin has caused as many empty inkwells as the 1804 dollar, inspiring several full-length books and countless articles and commentaries. It owes its existence to a single historic instance of the United States governments desire to make a good first impression. It was minted to transcend its basic purpose as an article of money, serving instead as a tool to communicate sophistication and power, peace and strength. From the moment the ingot of silver that would become this coin first felt the tug of the rollers, this coin was produced to be not only an object invested with the hopes of American diplomacy, but also a gift fit for a king.
When it came time to acquire this historic issue, it would have been out of character for the Pogue family to settle for just any 1804 dollar. As with so many of the coins in their collection, they sought out the most beautiful and best-preserved example, the first specimen presented, and the one whose provenance is filled with history and mystery. This most exceptional 1804 silver dollar is now poised to be the centerpiece in another world-class numismatic cabinet.
"Legendary beyond the world of numismatics, the 1804 silver dollar was minted to transcend its basic purpose as an article of money and created at the request of president Andrew Jackson to serve as a diplomatic gift to monarchs on the far side of the world," said Brian Kendrella, President, Stack's Bowers Galleries. "The Sultan of Muscat specimen is quite literally a gift fit for a king and Stacks Bowers Galleries is proud to have been selected to present this single finest example of 'The King of American Coins' at auction."