MARK FERGUSON ON 1804 DOLLAR RESEARCH

 

On Tuesday, December 9th, 2025, Stack's Bowers Galleries auctioned a previously unknown 1804 silver dollar, the 16th example now known.

Appearing in Session I of the James A. Stack, Sr. Collection (no relation to the auction firm), the coin sold for an astounding $6 Million (including the Buyer's Premium)

I was able to examine this coin in person, with a loupe, at the American Numismatic Association's World's Fair of Money in Oklahoma City in August. Immediately, I was stunned by the coin's remarkably strong strike all around.

Some 1804 dollars have weak areas here and there, such as in the hair, stars, or eagle's feathers. Additionally, the piece's surfaces appear natural and mark-free, save for a few minor hairlines. In contrast, several 1804 dollars have been cleaned.

I've been studying 1804-dated silver dollars since 1989 when I acquired James V. Dexter's unique commemorative work of art, The Dollar of 1804, that he personally commissioned in 1887 to celebrate his 1804 dollar.

After researching the Dexter Dollar for 25 years, I wrote and published the book, The Dollar of 1804: The U.S. Mint's Hidden Secret and I've built a large collection of memorabilia, numismatic literature, and artworks surrounding the Dexter Dollar and 1804 dollars in general that was the marquee exhibit at the 2024 World's Fair of Money.

Along the way, I've made several important discoveries about 1804 dollars and have had the immense pleasure of holding and examining, in the "raw," the Dexter Dollar and the PCGS Proof 68 Sultan of Muscat coin, the highest-graded example of them all. Thank you, Brent Pogue!

Recently, CoinWeek called me to get my opinion on the newly discovered 1804 dollar, the James A. Stack, Sr. coin. My immediate reaction was, "I'm not entirely surprised."

I've maintained for years that there will be many more discoveries about 1804 dollars that will come to light in the future. I think much of it will be found in correspondence between individuals.

To read the complete article, see:
Previously Unknown 1804 Dollar Sells for $6 Million at Stack's Bowers Auction (https://coinweek.com/previously-unknown-1804-dollar-sells-for-6-million-at-stacks-bowers-auction/)

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