Mack Pogue, a Dallas real estate developer, had collected coins with his son Brent since the 1970s. Stack’s Bowers Galleries and Sotheby’s conducted the auctions where the high-valued collection was sold. According to the organizers, the auction series generated a total of nearly $107 million in sales.
The new owners of the 1804 U.S. silver dollar are coin dealers John Albanese of New Jersey and Kevin Lipton of California who jointly bought it at the auction.
Minted by the U.S. government, the coin emblazoned with the bust of a woman with flowing hair was often described as a piece intended to be offered as a gift for foreign heads of state. Q. David Bowers, co-founder of Stack’s Bowers Galleries, said in a statement: “In coins, everybody’s heard of the 1804 dollar, it’s what I call the ultimate trophy coin”.