Prized 1804 silver dollar sells for $3.3 million at auction

April 1 (Reuters) - An 1804 U.S. silver dollar sold for $3.3 million in one of a series of auctions that brought in a record total of more than $100 million for a renowned private coin collection, organizers said on Saturday.

The silver dollar, one of only eight of its kind, was snapped up at auction on Friday in Baltimore. It was one of more than 200 coins sold at the event.

The auction series, beginning in 2015, generated a total of nearly $107 million in sales, according to Stack's Bowers Galleries, which conducted the auctions along with Sotheby's.

The collection belonged to Dallas real estate developer Mack Pogue and his son Brent, who had collected coins since the 1970s. Coin dealers Kevin Lipton of California and John Albanese of New Jersey jointly bought the prized silver dollar, Donn Pearlman, a spokesman for the two men, said in an email.

"In coins, everybody's heard of the 1804 dollar, it's what I call the ultimate trophy coin," said Q. David Bowers, co-founder of Stack's Bowers Galleries.

See more related to this story:

5 PHOTOS
Silver dollar from 1804
See Gallery
Silver dollar from 1804
The Sultan of Muscat-Brands-Childs 1804 Silver Dollar is displayed as part of the D. Brent Pogue collection to be sold on Tuesday at Sotheby's in New York, U.S., May 24, 2016. REUTERS/Lucas Jackson
A Sotheby's employee holds a Specimen 1795 Silver Dollar which is displayed as part of the D. Brent Pogue collection to be sold on Tuesday at Sotheby's in New York, U.S., May 24, 2016. REUTERS/Lucas Jackson
A security guard stands behind the Sultan of Muscat-Brands-Childs 1804 Silver Dollar which is displayed as part of the D. Brent Pogue collection to be sold on Tuesday at Sotheby's in New York, U.S., May 24, 2016. REUTERS/Lucas Jackson
A Sotheby's employee adjusts the Sultan of Muscat-Brands-Childs 1804 Silver Dollar which is displayed as part of the D. Brent Pogue collection to be sold on Tuesday at Sotheby's in New York, U.S., May 24, 2016. REUTERS/Lucas Jackson
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

The coin is emblazoned with the bust of a woman with flowing hair who represents liberty. Minted by the U.S. government, it was intended as a gift for foreign heads of state.

Brent Pogue began collecting coins in 1974 when he was a teenager and later brought his father into the enterprise.

The first coin the younger Pogue bought was at an auction of the trove that belonged to railroad scion T. Harrison Garrett. In a fitting finale of the Pogue Collection auctions, the last sale was held at the Garrett family's former mansion at Johns Hopkins University, Bowers said by phone.

Mack and Brent Pogue's collection consisted of more than 650 pieces. The father and son sold them because "the thrill of the chase" of being collectors had passed and they wanted to move on, Bowers said.

Even before Friday's sale, the Pogue auctions had already surpassed the value of what had been the record-setting sale of the collection amassed by late dealer and collector John J. Ford.

(Reporting by Alex Dobuzinskis in Los Angeles; Editing by Tom Brown)

Read Full Story

Can't get enough personal finance tips?

Sign up for Finance Report by AOL and get everything from consumer news to money tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Credit Card Compare

Credit Card Compare

Whether you're looking for great travel rewards or low annual fees, find the card that's right for you.

Compare Now