1794 Silver Dollar Likely Nation's First
By CATHERINE TSAI, AP

AP
The coin's details are so crisp that it certainly was among the first, if not the first.

DENVER (March 14) - Currency experts say they have identified a 210-year-old silver dollar that is likely the first one coined by the United States Mint.

The American Numismatic Association, a currency organization based in Colorado Springs, told The Associated Press on Sunday it planned to put the coin on public display beginning in mid-April.

Experts said it's impossible to say for certain that the coin was the very first U.S. silver dollar struck, but its details are so crisp that it certainly was among the first.

"Until someone walks up to me with a coin in an earlier state that looks better, I'd consider it the first," said John Dannreuther, co-founder of Professional Coin Grading Service.

Unlike the other roughly 130 surviving U.S. dollars minted in 1794, the silver dollar is in mint condition, according to evaluations performed by Professional Coin Grading Service and Numismatic Guaranty Corp.

The coin, which has only a few scratches, features images of Lady Liberty ringed with stars on the front and an eagle on the back.

"I think it's a national treasure."
-Steven Contursi

Steven Contursi, owner of Rare Coin Wholesalers, bought the coin last year from an unidentified owner and said he spent "multimillions." It is insured for $10 million.

The dealer who sold Contursi the dollar - not realizing it could be the first of its kind - has since offered him a $2 million profit on it.

But it's not for sale, Contursi said: "I think it's a national treasure," he said.

Contursi traveled to Denver on Sunday with security guards to show it to an Associated Press reporter.

The Mint struck 1,758 silver dollars on Oct. 15, 1794, at a time when foreign currencies circulated freely in the United States and the country wanted its own standard to use in world trade.

03/14/04 18:10 EST

Copyright 2004 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.