The 1794 Flowing Hair dollar that recently generated a world record price for a coin sold in a public auction is an example of how a combination of factors including individuals with decades each of numismatic knowledge and experience, continuing research, one-on-one consensus building and astute marketing helped a coin jump from $264,000 in 1984 to over $10 million 29 years later.

Steven L. Contursi, who has owned a mint-condition 1794 Liberty dollar for the past seven years, confirmed Thursday that he sold it to the Cardinal Collection Educational Foundation of Sunnyvale for $7.85 million - setting the new world record for the Most Expensive Coin.

What may be America's oldest silver dollar has become the world's most expensive coin, with its owner saying it changed hands in a private transaction between coin collectors for nearly $8 million.

This 1794-dated U.S. silver dollar is believed to be among the first silver dollars struck by the United States Mint.

An image of the finest known 1794 Flowing Hair silver dollar, owned and frequently exhibited by Steven L. Contursi, President of Rare Coin Wholesalers of Dana Point, California, may appear on wine bottles.

An image of the finest known 1794 Flowing Hair silver dollar, owned and frequently exhibited by Steven L. Contursi, President of Rare Coin Wholesalers of Dana Point, California, may appear on wine bottles.

During the American Numismatic Association convention in August in Pittsburgh, I had the privilege to visit with an elderly woman of distinction.