One of the Most Valuable Pieces of American Art Might be in Your Basement

The United States obsession with Liberty dates back to its independence. It wasn’t just a word, but has been a symbol since the start of the country’s existence. So when one of the first mass produced pieces of art was being brainstormed, the founders knew that she had to be included. Among the designs, they also had to think of the material. What was she going to be made of? They had silver, copper, gold, brass, and other metals that weren’t necessarily as valuable or didn’t hold their value as well, at their disposal. However, this was a big decision because it would set a precedent and value for the country for years to come.   

This was a job for nobody other than Alexander Hamilton. He used references from all over the world to come to his decision and finally concluded silver would be the perfect fit. He used the Spanish as a reference for this piece, trying to match everything they did, as to not undervalue what they were trying to create. However, Mr. Hamilton miscalculated. The percentage the Spanish chose was just over 90% silver, and Hamilton calculated it to be just over 89%. This could have started the country at a financially weaker point to the rest of the world right off the bat. Luckily, the manufacturers found it difficult to produce in such a specific ratio so they switched it to 90%, fixing Hamilton’s mistake. Classic Alex.   

Robert Scot arrived in Philadelphia to start discussions with the founders in 1793. He was a very well known artist at the time, and specialized in engraving. His job here was to create a mold. This would become the most valuable ‘print’ by any artist in history. He came up with an original Liberty design that would be used as the main face of this collaborative piece. This would be one of the first symbols of Liberty actually put into print. This is what made the gift from French artist Frederic Auguste Bartholdi in 1886 so significant. It not only gave us a new symbol and monument to the country, but it reinforced what we were already trying to symbolize. One could say it was a very thoughtful gift. They didn’t give the United State’s a symbol, they made something out of what already was.

They were going to produce about 2,000 of these in the first run, and production of that magnitude can only be done by more established manufacturers. This led Scot and the United States Government to partner with the Philadelphia Mint to bring this piece to life. Printing started in October and ran into November, and out came the Flowing Hair Silver Dollar. The coin was minted in 1794 and was the first dollar coin to come out of the Philadelphia Mint, the first United States Treasury building.      

The flowing hair dollar was more of a novelty item at first. It wasn’t used for circulation until more currency was made. Originally, it was given to members of the government and other contributors as a gift. There are very few still around today, so if you have a descendant of someone who may have been involved, it may be worth taking a peek at anything they left behind. Hopefully they had the foresight to keep it. If you find this coin in mint condition and it's verified to be the first batch, the last one put up for auction sold for $10 million.