A rare 1794 U.S. silver dollar, one of the first minted in the country, sold for $1,207,500 at a Boston auction, the auctioneers said.

Bowers and Merena Auctions of California, which held the auction Saturday at the Park Plaza Hotel and Towers in Boston, said the so-called Flowing Hair silver dollar is considered the fourth finest still in existence. Only about 140 are believed to remain in the world, the Boston Globe reported Wednesday.

The coin features an image of a woman with long flowing hair, which Congress designed to represent liberty, said Jeff Ambio, a rare coins expert for Bowers and Merena Auctions.

Brian Kendrella of Spectrum Group International, the parent company of Bowers and Merena, said the coin was purchased by an anonymous bidder. (iWireNews and OfficialWire)