Rarest U.S. Coin Is Worth $20 Million

What is the most valuable United States coin? The coin, shown at right is the Smithsonian's 1849-dated "Double Eagle" $20 denomination gold piece. The unique coin was struck by the United States Mint in Philadelphia during the early days of the California Gold Rush. The Professional Coin Grading Service (PCGS) has rounded-up the 2011 PCGS Million Dollar Coin Club and their experts agree that this coin has gone up in value from an estimated $15 million last year to $20 million now. The first $20 gold piece struck at the United States Mint is part of the National Numismatic Collection at the Smithsonian's National Museum of American History. It will be exhibited in Chicago in August at the World's Fair of Money.

Here's a reason to start collecting, the group says that the most valuable rare coins have increased in value by an estimated 25 to 50 percent the past year. There are currently 235 historic U.S. coins valued at $1 million or more that are in private collections or museums (an estimated total combined value of $548.6 million).

"It was only 15 years ago that a coin first broke the million dollar mark at auction. That coin is the finest of only five known 1913 Liberty Head nickels, and in 1996 it sold for $1,485,000. It now is valued at $4,500,000," explained David Hall, President of Collectors Universe, Inc.of Santa Ana, California.

The 2011 PCGS Million Dollar Coin Club listing was compiled by Hall and Ron Guth, President of PCGS CoinFacts, in consultation with four other well-known professional numismatists: Jim Halperin, Co-Chairman of Heritage Auctions, Dallas, Texas; Kevin Lipton, President of Kevin Lipton Rare Coins, Beverly Hills, California; Greg Rohan, President of Heritage Auctions; and Laura Sperber, President of Legend Numismatics, Lincroft, New Jersey.

Others in the top 10 include a 1907 Indian Head $20 Saint-Gaudens gold pattern (estimated grade Proof 69) valued at $1 million. Now in a private collection, this unique gold pattern was designed by famed sculptor, Augustus Saint-Gaudens, and combines his $10 Indian Head obverse design with his $20 reverse design. A 1877 $50 gold pattern J-1546 (estimated grade Proof 67) is also at $15 million, up from $10 million last year. The famous "Half Union" gold piece is unique and in the Smithsonian. The1877 $50 gold pattern J-1548 (estimated grade Proof 67) is variation on the design of the other "Half Union" and had the same jump in value. This coin is also unique and in the Smithsonian. Also at the Smithsonian is the 1907 Double Thick Extremely High Relief Saint-Gaudens $20 (two coins, both estimated grade Proof 69) estimated at $8.5 million.

A 1794 Silver Dollar (graded PCGS Specimen 66 and shown at left) is listed at $7.85 million up from $5 million last year. In a private collection, this is believed by some experts to be the very first silver dollar struck by the United States Mint.

The 1804 Class I ("Original") Silver Dollar (graded PCGS Proof 68 and shown at right) worth $7.5 million is the finest of the 15 known, famous 1804 silver dollars. This coin, now in a private collection, was originally given to the Sultan of Muscat in 1836 as a diplomatic gift on behalf of President Andrew Jackson. Another coin from that same gift, the 1804 Class I ("Original") Silver Dollar (graded PCGS Proof 67) valued at $6.5 million.

Rounding out the list is an 1822 $5 gold piece (estimated grade Extremely Fine 45) valued at $6 million is one of only three surviving 1922 Half Eagle gold coins out of 17,796 struck. The other two specimens are in the Smithsonian.