David Allan Coe is an American songwriter, singer, and guitarist known for his contributions to the country music scene. Despite battling with the IRS and filing for bankruptcy, David Allan Coe has managed to amass a net worth of $1.5 million. In this article, we’ll take a closer look at the life and career of David Allan Coe and how he achieved his current net worth.
Early Life and Career
David Allan Coe was born in Akron, Ohio in September 1939. He was encouraged to start writing songs while serving time in prison, and he eventually moved to Nashville, Tennessee to pursue his music career. At first, he lived in a hearse and played music on the streets for tips.
In 1970, David Allan Coe released his debut album, Penitentiary Blues. He went on to release 41 studio albums throughout his career, with his latest albums Country Hit Parade and Early Years being released in 2007.
David Allan Coe’s biggest hits include “The Ride”, “Mona Lisa Lost Her Smile”, “You Never Even Called Me by My Name”, “Longhaired Redneck”, and “She Used to Love Me a Lot”. He composed the #1 hit songs “Would You Lay With Me (In a Field of Stone)” which was covered by Tanya Tucker and “Take This Job and Shove It” which was covered by Johnny Paycheck.
Despite his musical successes, David Allan Coe has faced financial troubles throughout his career. He, like fellow musicians Jerry Lee Lewis and Willie Nelson, has battled the IRS at various points in his career.
Bankruptcy and Financial Troubles
In 2003, David Allan Coe revealed that all of his songs up to 1984 were sold in a bankruptcy proceeding for just $25,000. He apparently wasn’t informed that the sale was happening and therefore didn’t have the chance to bid. The IRS claimed he owed them $100,000, and after his home was destroyed in a flood and he didn’t have any records to prove his income, he chose to file for bankruptcy.
In his own words: “Nelson chose to deal with them. I chose not to. I’m totally straight with them now. The only income I have is the money I make on the road performing and from my new songs that I own.”
Despite his financial troubles, David Allan Coe has managed to maintain his musical career and continue to tour and perform.
David Allan Coe’s Net Worth
As of 2023, David Allan Coe’s net worth is estimated to be $1.5 million. This is due to his musical success, touring, and ownership of new songs. He has also authored six books, including his autobiography.
Despite financial struggles, David Allan Coe has managed to maintain a successful music career and amass a net worth of $1.5 million. His contributions to the country music scene have left a lasting impact, and he continues to tour and perform to this day.