An exchange of Holey Dollars, your '1790' for the '1789'.

The above Holey Dollar is one of the industry's greatest and was sold to a client in February 2024 for $525,000. 

This proposal asks that you give consideration to a swap of the above Holey Dollar with the one you acquired in December. Or an outright purchase. 

Let me provide you with background information on the coin. And the reasons why this proposal is being made. 

The Holey Dollar shown above was created from a Spanish Silver Dollar issued at the Lima Mint in 1789. I refer to it hereon as the '1789'. Offered at $550,00, the final price was $525,000. 

It ticks all the boxes. Rare Lima Mint. Rare monarch Charles III. Quality, Extremely Fine, and in the top six of the two hundred Holey Dollars available to collectors. And the finest Charles III. A Type 3 design type of Holey Dollar that, along with your Hannibal Head, is the rarest type with two known. 

Be advised only a handful of Holey Dollars have all boxes ticked. Your Hannibal Head ticks all boxes. And so does this coin. 

You acquired a Holey Dollar from me in December. It was a Holey Dollar created from a Spanish Silver Dollar issued at the Mexico Mint in 1790. Offered at $425,000, the final price was $325,000. I refer to it hereon as the '1790'. 

Not every box is ticked. Not a criticism. Simply a reality. The mint is not ticked as it is the readily available Mexico Mint. Quality Nearly Extremely Fine, a high-quality piece, the imperfections in the fields marking it slightly down from Extremely Fine to Nearly Extremely Fine. In the top twenty of the two hundred surviving Holey Dollars. Design type is ticked for it is a type 4 design type with eight known. 

My client proposing the swap is a collector, in every respect. As are you.

You have a 'man cave' at the office. He has a newly installed 'coin room' in his home and he is a strong supporter of the industry and my endeavours to promote it though hosting exhibitions.

He is a descendant of Englishman, Richard Cheers, who along with his brother, were convicted of stealing two geldings and sentenced to death. His life sentence was commuted on 18 April 1788, to transportation for the term of his life. He and his brother arrived in the colony on 28 June 1790.

I have explained to him what he is giving up by relinquishing the '1789', but the date '1790' is emotional and overwhelming for him and quashes all of my numismatic/financial counsel. 

Both coins appeared in the article 'Top Dollars' which was placed on the web in January 2025. I have transposed the information from the article to below, so you can take on board all the facts. You will note that I recorded values in that article. It comforts me that this article was written and the figures provided twelve months ago, independently of this request. Link to the 'Top Dollars' article shown below. 

https://coinworks.com.au/The-Top-Dollars-Emulating-Philip-Spalding-s-famous-Top-Dollars-1973-Coinworks-pr~94113

Your thoughts to my proposal would be appreciated. Be advised, my client has also indicated that we can make an outright purchase of the '1790', if that is your preference.

I would pick up the '1789' and deliver the '1790' to make it easy for everyone.