First Silver Dollar Ever Produced By U.S. Sold For $12M To Las Vegas Man

A coin believed to be the first silver dollar ever produced in the United States has sold for a world record $12 million to a Las Vegas collector.

The coin was minted in 1794, according to GreatCollections. The coin is considered the world's most valuable silver coin and it's the second-highest price ever paid for a rare coin.

“Without question, this is America’s most coveted Silver Dollar, and it gave me chills closing the transaction for this piece of history. This absolutely defines “museum-quality,” in fact, aside from the unique specimen-striking, it’s substantially better than the examples in the Smithsonian and American Numismatic Association collections. The new owner is thrilled," GreatCollections president Ian Russell said in a press release.

Russell added, "Because of its sharpness of detail, researchers believe this coin was specially struck, perhaps as a presentation of the country's first dollar coin. Because of its significance, it was likely seen by President George Washington, Treasury Secretary Alexander Hamilton, and then-Secretary of State Thomas Jefferson who oversaw the young United States Mint."

The seller of the silver dollar was well-known collector Bruce Morelan of Las Vegas. Before Morelan, the coin was owned by numismatic legends including Virgil Brand, Colonel E.H.R. Green, W.W. Neil, Amon Carter Sr. and Amon Carter Jr., according to GreatCollections.

John Albanese negotiated the transaction on behalf of Morelan last week, according to the press release.

“I’m very pleased to be involved in this deal, officially the highest price paid for any CAC-approved coin in a private transaction, and I know it’s bittersweet for Bruce to pass the torch to the next owner. I called Ian about the coin a week ago Sunday, and by Thursday, we were in agreement. Then it was just a matter of logistics to securely transport the rarity," he said.