1794 $1 Sells For $10 Million At Stacks!

Just got this email from Rare Coin Wholesalers.

http://www.rarecoinwholesalers.com/...world-record

Amazing to think, that in 1947 someone was able to buy this coin for $1,250 (Roughly $12,400 today with inflation).

It may not be too long. This is the fourth time it has sold in the past 22 years. Fifth time in 27 years, sixth time in 29 years.

I'm almost positive that Legend purchased this coin on behalf of a client rather than for their own personal collection despite other news to the contrary. I happened to attend the auction and overheard Laura saying afterwards something to that effect. I also got the privilege to hold and examine the coin up close in person.

That amount is just mindblowing. More money than most hard working people will ever dream about, all invested in one coin. Even the buyers premium Harvey Stack could use to retire on (not that he needs it.) Dave, what do you think was it the first silver dollar struck, or just an incredible example?

Thanks, Nathan. Ashame that the topic which I just posted was removed, since I posted it in good faith and related it to numismatics but it is what it is and in the end the moderators decide what is appropriate for their site. I've seen this kind of censorship and government control happening in our country today. Many liberals probably believe that the man who bought this 1794 dollar should have spread his wealth instead of indulging in this wonderful coin with money that he earned.

I probably won't be doing anything so ridiculous, but I love math, so there. (Note that all of the below is just an approximation.)

$10,000,000/$30=300,000 ASEs
300,000 ASEs=300,000 ounces=10,000 kg=10 tons=1 cubic meter
an ASE is just under 5cm wide, so that's a good approximation of lowest wall thickness - which means we get (approximately) 20 square meters of walls to work with; which means that, if the house is approximately cubic, it'll be about 6 feet on each side (and would probably have to be held up by something more sturdy than a bunch of ASEs or it would just fall to pieces).

Consider the opposite side of that coin. Your intent isn't in question, but if we allow you, who, then, can we deny? I'll answer that for you: everyone with any similar intent must be allowed to do the same thing if we are to remain true to ourselves and our purposes. It is not in the impartial enforcement of rules where one finds fault (understanding this is not a democracy), but in the subjective application of privilege to some and not others.




I must disagree. Denying someone the fruits of their long labor and success isn't who we are, and I'd far rather see that success go towards helping preserve some of our most important history as a nation. It doesn't hurt that the person in question here is just as much a lover of coins as anyone here, and not just an investor.