1795 FLOWING HAIR DOLLAR
NGC MS64 (Three Leaf Variety)The First Coinage of the Young Republic... The 1795 Flowing Hair Silver Dollar is over 223 Years Old! The dollar was authorized by the Mint Act of April 2, 1792, although production of the coins did not happen until November, 1794. The delay was due to an excessive bond requirement. The year 1795 was the second year of U.S. silver dollar production, and the coins produced were both the earlier Flowing Hair type and the newer Draped Bust type.
The Flowing Hair dollar was the first dollar coin issued by the United States federal government, only minted in for two years, 1794 and 1795. The size and weight were similar to the Spanish dollar, which circulated freely in the post-Colonial era. There are 3 types of Flowing Hair Dollars. 2 Leaves, 3 Leaves, and Silver Plug. This is the 3 leaves version.
Survivors of the short-lived Flowing Hair design are of the utmost rarity and desirability within numismatic circles. The Flowing Hair silver dollars of 1795 are sometimes overshadowed by their famous cousins of 1794, but this specimen will stand out in any collection of early silver dollars.
Production of silver dollars was suspended from October 1794 until May 1795 because the Mint did not have a screw press capable of striking silver dollars. Mint Director David Rittenhouse had a larger, more powerful press designed for silver dollar production and 1795 dollar production resumed on May 6, 1795. The exact mintage is open for debate, but the Guide Book reports an official quantity of 160,295 dollars with the Flowing Hair design.