A rare coin could fetch up to $5 million at an upcoming auction, CNNMoney reported on Tuesday. The coin, a 1794 Flowing Hair Silver Dollar, is from one of the first batches of dollars distributed in the U.S. There are only 150 1794 Silver Dollars in existence, and the one going up for auction is one of the three best preserved.
The coin, which is expected to sell for between $3 million and $5 million, belongs to the Pogue family of Dallas. Mack Pogue, a real estate developer, and his son Brent began collecting rare coins in the 1970s and have since built up what's considered the most valuable privately held collection in the world. The Pogues sold the first batch of their collection in May for $25 million, which included the sale of an 1808 Quarter Eagle that went for $2.35 million.
The 1794 Silver Dollar will be auctioned off on Sept. 30 at Sotheby’s in New York City and has a current bid of $2,200,000 on Stack’s Bowers, the company that is handling the sale.
The 1794 Silver Dollar will sell alongside other extremely valuable coins in the Pogue's collection, which consists of 681 coins worth an estimated $200 million. The upcoming auction is the second of five auctions by Stack’s Bower’s and Sotheby’s that will feature the Pogue’s coin collection. The remaining Pogue coin collection auctions are scheduled to take place in 2016 on Feb. 18, May 19 and Sept. 22, the Associated Press reported.
"The sale of my collection is bittersweet, but I feel now is the time to pass the torch to a new generation of custodians, who can appreciate the legacy of these great American coins," said Brent Pogue in a press release, CNNMoney reported. "These coins conjure up many fond memories, and I hope the new owners will enjoy them as much as I have."