We have said it before and we will say it as many times as we can: this is a family business. With over 100 years of experience between The Coin Vault and its parent company, SilverTowne, these walls are plastered with history and knowledge that commands attention.
So in our next chapter in the “What’s Your Favorite Coin” series, we asked the youngest grandchild of the late Leon Hendrickson and current television show host for our very own television program that comes to you live every Monday, Tuesday and Thursday night at 7 pm EST, just which coin hit the mark for him. With no surprise to those who know and love him, Tyler’s answer had everything to do with the nostalgia behind it.
The Winner: 1804 Silver Dollar
“It’s one of the most legendary coins in United States history,” Tyler explained, “and my grandfather owned one.”
Like a lot of coin dealers and true historians of the business know, Leon owned a Dexter specimen of the highly sought after, incredibly rare coin that is the 1804 Dollar. While never getting the chance to hold it like older brother and fellow show host, Andy, he did get the chance to see that silver dollar in person.
“They have an exhibit at the ANA’s headquarters in Colorado Springs and that’s where I was able to look at it for the first time,” he said. “You know how you can tell it’s a Dexter specimen? There’s a ‘D’ in the clouds on the reverse. It’s also one of the most copied and replicated coins there is. You know a coin is good when there are so many fakes out there.”
Hendrickson’s 1804 Silver dollar eventually sold in an auction for $990,000 nearly 30 years ago in July of 1989, which was the most a coin had sold for at the time. If someone were looking to seek one out for their collection today, Tyler’s first recommendation would be to have a rather large bank account.
“If I had to guess it’s estimated worth today, and this is just speculation, I would say around $5 million or so,” he stated. “Perhaps way north. They are extremely rare.”
Like his first choice, Tyler’s runner up is based on his relationship with his grandfather.
“The 1895 S Morgan dollar,” he proudly said. “My grandfather gave me one certified in MS63 Prooflike by PCGS for Christmas in 1995. I just like the coins from my grandfather.”