1 dollar coins that could be worth millions: What do they look like and how do I know if I have one?
Ever spotted an strange-looking coin in your change? Pay attention, a single coin could be worth millions if you find one of these rare examples.
Although coins are largely ignored these days, some seemingly innocuous cash is well worth paying attention to. There are a select few ‘silver dollar’ coins that can fetch millions of dollars due to their rarity or historical significance.
These coins are often the result of unusual circumstances during the coin minting process, such as errors in design, uncommon metal compositions, or limited production runs. Coins that are in pristine condition and have a unique or interesting history also hold particular value for collectors. But, while you may think you’ve found a fortune, the real-world value of these coins can vary over time depending on market conditions and the number of interested buyers.
How to tell if a coin is valuable
Typically the most coveted coins for collectors are silver dollars, many of which have fascinating back-stories and hold real historical significance for collectors. If you happen to find one your first port of call should be to check the year that it was issued and the figure that is embossed on it. The rarest coins are given names based on the coin’s design, making them relatively easy to search for and value on grading websites.
This should allow you to roughly value your coin and get an idea of it’s rarity. If it appears that you have a coin that could be worth a lot, consult a reputable professional appraiser to get a better idea of your coin’s value.
The priciest US dollar coins are typically the most unique and most historically significant. Over the course of American history there are a number of examples of coins with strange back-stories becoming extremely coveted, and therefore valuable. Here are some examples...
Flowing Hair Silver Dollar (1794) - The first dollar coin ever issued by the United States Mint with only around 140 of them still in existence. In 2013 one of these coins sold for $10 million at auction, making it the most expensive coin ever sold at the time. According to USA Coin Book, one of these coins can fetch up to $12 million in 2023.
Draped Bust Silver Dollar (1803) - This is one of the rarest and most valuable coins, and only four of them are known to exist. Each of these coins are worth around $1 million if they are in good condition.
Draped Bust Silver Dollar (1804) - Often considered the “King of Coins,” only 15 of these coins are known to exist, and one sold at auction for over $10 million in 2013.
Seated Liberty Silver Dollar (1870) - This is the rarest regular-issue US coin, with only one known example in existence. It was discovered in a private collection in 1972 and sold for $750,000 at auction that same year.
Further details of the most valuable coins, along with details on how to identify the lucrative cash, can be found on RareCoins101. In addition to information pertaining to the rarest of the rare, there is also advice on coin grading, key dates to look out for and a full index of the collectors’ rare coins. You never know, you might find your fortune down the back of the sofa.