What may be America’s oldest silver dollar has become the world’s most expensive coin, with its owner saying it changed hands in a private transaction between coin collectors for nearly $8 million.

Steven L. Contursi, who has owned the mint-condition 1794 Liberty dollar for the past seven years, confirmed Thursday he has sold it to the Cardinal Collection Educational Foundation of Sunnyvale for $7.85 million.

The previous record price paid for a coin was $7,5 million for a U.S.-minted 1933 $20 gold piece, according to the American Numismatic Association.

Numismatics expert say the 1794 coin, if not the first U.S. silver dollar ever minted, is clearly the first of the approximately 150 still in existence.

Source: AP via PressofAC.com

The gist of the story is that the rear of the circulating $1 Federal Reserve Note features an arrangement of 13 stars in the form of a Star of David in the right-hand circle above the eagle.

According to the circulating email “this was ordered by George Washington who, when he asked Hayim Solomon, a wealthy Philadelphia Jew, what he would like as a personal reward for his services to the Continental Army, Solomon said he wanted nothing for himself but that he would like something for his people.  The Star of David was the result.”

The full email follows…

SUBJECT: Who was Hayim Solomon?

On the rear of the One Dollar bill, you will see two circles.  Together, they comprise the Great Seal of the United States .

The First Continental Congress requested that Benjamin Franklin and a group of men come up with a Seal.  It took them four years to accomplish this task and another two years to get it approved.

If you look at the left-hand circle, you will see a Pyramid.

Notice the face is lighted, and the western side is dark.  This country was just beginning. We had not begun to explore the west or decided what we could do for Western Civilization.  The Pyramid is uncapped, again signifying that we were not even close to being finished.  Inside the capstone you have the all-seeing eye, an ancient symbol for divinity.  It was Franklin ‘s belief that one man couldn’t do it alone, but a group of men, with the help of God, could do anything.

‘IN GOD WE TRUST’ is on this currency.

The Latin above the pyramid, ANNUIT COEPTIS, means, ‘God has favored our undertaking.’   The Latin below the pyramid, NOVUS ORDO SECLORUM, means, ‘a new order has begun.’  At the base of the pyramid is the Roman Numeral for 1776. (MDCCLXXVI)

If you look at the right-hand circle, and check it carefully, you will learn that it is on every National Cemetery in the United States It is also on the Parade of Flags Walkway at the Bushnell, Florida National Cemetery, and is the centerpiece of most hero’s monuments.  Slightly modified, it is the seal of the President of the United States , and it is always visible whenever he speaks, yet very few people know what the symbols mean.

The Bald Eagle was selected as a symbol for victory for two reasons: First, he is not afraid of a storm; he is strong, and he is smart enough to soar above it.  Secondly, he wears no material crown.  We had just broken from the King of England Also, notice the shield is unsupported. This country can now stand on its own.  At the top of that shield you have a white bar signifying congress, a unifying factor.  We were coming together as one nation.  In the Eagle’s beak you will read, ‘E PLURIBUS UNUM’ meaning,’one from many.’

Above the Eagle, you have the thirteen stars, representing the thirteen original colonies, and any clouds of misunderstanding rolling away.  Again, we were coming together as one.

Notice what the Eagle holds in his talons.  He holds an olive branch and arrows. This country wants peace, but we will never be afraid to fight to preserve peace. The Eagle always wants to face the olive branch, but in time of war, his gaze turns toward the arrows.

They say that the number 13 is an unlucky number.
This is almost a worldwide belief. You will usually never see a room numbered 13, or any hotels or motels with a 13th floor.  But think about this:

13 original colonies,
13 signers of the Declaration of Independence,
13 stripes on our flag,
13 steps on the Pyramid,
13 letters in, ‘Annuit Coeptis,’
13 letters in ‘E Pluribus Unum,’
13 stars above the Eagle,
13 bars on that shield,
13 leaves on the olive branch,
13 fruits,and if you look closely,
13 arrows.

And finally, if you notice the arrangement of the 13 stars in the right-hand circle you will see that they arearrangedas a Star of David.  This was ordered by George Washington who, when he asked Hayim Solomon, a wealthy Philadelphia Jew, what he would like as a personal reward for his services to the Continental Army, Solomon said he wanted nothing for himself but that he would like something for his people.  The Star of David was the result.  Few people know that it was Solomon who saved the Army through his financial contributions but died a pauper.

I always ask people, ‘Why don’t you know this?’  Your children don’t know this, and their history teachers don’t know this.  Too many veterans have given up too much to ever let the meaning fade.  Many veterans remember coming home to an America that didn’t care.  Too many veterans never came home at all.

Snopes: Undetermined

Tip: Joe Guerrier

The series, which started in 2007 with over 340,000 George Washington Presidential coins, has experienced a production decline with each succeeding $1 release, with the exception of the Jackson dollar.

Van Buren production is down by more than one-third compared to Washington dollar figures, as the following table reveals.

Tip: CoinNews.net

The bill, named the Boy Scouts of America Centennial Commemorative Coin Act or H.R. 5872, has overwhelming support and now moves to its next step — congressional packaging for the President, who is expected to sign it into law.

Congressman Pete Sessions [R-TX] introduced the legislation in April and said,

Source: CoinNews.net

“This is the first program of its kind to inspire shoppers, diners and commuters to use $1 Coins in their normal, everyday activities,” said United States Mint Director Ed Moy.  “When each of us spends the $1 Coin, we make a difference for our country, because the $1 Coin is durable and using it saves the Nation money.  We hope our pilot cities lead the change!”

The $1 Coin lasts for decades and is 100 percent recyclable, so using it can save the country billions of dollars over the years.

The U.S. Mint has expanded their Circulating $1 Coin Direct Ship Program. This program makes it easy for retailers, financial institutions, and other interested parties to obtain smaller quantities of $1 coins than can otherwise be obtained from the Federal Reserve.

The $1 Coin Direct Ship Program provides individualized service to the financial community and other interested parties who wish to acquire $1 coins at face value in smaller quantities than currently available to financial institutions.

The circulating Presidential $1 Coins will be available in 25-coin rolls packaged in quantities of 10 rolls per box, priced at $250 face value.  The coins will not be separated by mint mark.  Customers may order up to 500 $1 coins (two boxes) within any given Presidential $1 Coin issuance period.

Originally started on 11 June 2008 the program was limited to John Quincy Adams dollar coins which quickly sold out.

On 21 August 2008 the program was expanded to include Presidential dollar coins for:

• George Washington
• John Adams
• Thomas Jefferson
• James Madison
• James Monroe
• John Quincy Adams
• Andrew Jackson

All are now sold out with the exception of Andrew Jackson who’s dollars coins are still available at face value. Get them while you can folks!

The $1 Coin Direct Ship Program provides individualized service to the financial community and other interested parties who wish to acquire $1 coins at face value in smaller quantities than currently available to financial institutions.

The circulating Presidential $1 Coins will be available in 25-coin rolls packaged in quantities of 10 rolls per box, priced at $250 face value.  The coins will not be separated by mint mark.  Customers may order up to 500 $1 coins (two boxes) within any given Presidential $1 Coin issuance period.

The United States Mint will pay shipping and handling fees on orders delivered via standard shipping methods.

• The United States Mint pays for standard shipping and handling of domestic orders. Any special handling will be paid by the customer.
• Orders are limited to two boxes ($500) per President.
• Specific coins are available only while supplies last.
• Please allow approximately 1-2 weeks for shipping.
• All sales are final.

Presidential dollar coins released to date:

• George Washington
• John Adams
• Thomas Jefferson
• James Madison
• James Monroe
• John Quincy Adams

John Quincy Adams dollars are currently sold out.

Read the rest of the press release at the U.S. Mint Web site.

New PCGS Bulk Submission Policies Effective July 1, 2008

BULK SUBMISSIONS

Effective July 1, 2008, only PCGS Authorized Dealers may submit coins under the Bulk Submissions program. Collectors Club members who wish to submit coins under the Bulk Submissions program must either become a PCGS Authorized Dealer or submit coins through a PCGS Authorized Dealer.

SPECIAL INSERTS

Effective July 1, 2008, special inserts (First Strike, 50 States Flags, Signature Series, Satin Finish, etc.) will be available only through the Bulk Submissions program and will not be available under any other service level.

These changes are being made to speed up and streamline processing and turnaround times at PCGS. Any bulk submissions received by PCGS or postmarked before July 1 will be processed under the old Bulk Submission program rules.

On Tuesday, May 13, the United States Mint will release a second option in the collection, the United States Mint Presidential $1 Coin Historical Signature Set, in honor of John Adams, our Nation’s second President.

This latest product includes a proof version of the John Adams Presidential $1 Coin and an intaglio print of John Adams from the Bureau of Engraving and Printing. The intaglio print is visible from the cover of the textured, leather-like folder of the United States Mint Presidential $1 Coin Historical Signature Set. Inside the folder is the official John Adams Presidential signature, courtesy of the White House Historical Association. A Certificate of Authenticity accompanies each set.

The first option in the collection, the United States Mint Presidential $1 Coin Historical Signature Set – George Washington, is also available.

Source: CoinLink.com

The next Presidential $1 coin to be released is the John Quincy Adams dollar (pictured) which will be released on 15 May 2008. A full release schedule is available on the U.S. Mint Web site.

For some collectors, the announced offerings may come as a bit of a surprise since the Mint is pushing out an additional product as well as the next scheduled coin honoring U.S. Presidents.

They have, in fact, extended their Presidential product line and are spotlighting already released coins in new ways.

Presidential $1 Coin Historical Signature Set

The U.S. Mint had somewhat quietly released a new collection in April called the Presidential $1 Coin Historical Signature Set. It featured George Washington.

Source: CoinNews.net