US Silver Dollar History From Early Beginnings

The US Silver Dollar History From Early Beginnings is a fascinating topic. The first silver dollar was minted in 1794, with a face value of $1 and a weight of 26.96 grams, containing 90% silver.

The Coinage Act of 1792 authorized the production of the silver dollar, which was designed by Robert Scot and featured Lady Liberty on the front and a eagle on the back. This design would become a standard for many future silver dollars.

The first silver dollar was minted at the Philadelphia Mint and was made from a silver alloy that contained 89.2% silver. This unique composition was used for many early silver dollars.

The introduction of the silver dollar marked a significant milestone in US currency history, paving the way for the development of other denominations and coinage systems.

The first silver dollar minted in America was the Flowing Hair Dollar, which was struck in 1794. This coin marked the beginning of silver dollar coinage in the United States.

The Flowing Hair Dollar was produced following the establishment of the first U.S. Mint building in Philadelphia, which began its operations in 1793. Only about 140 examples of the 1794 Flowing Hair Silver Dollar are known to exist today out of a total mintage of just 1,758!

The 1794 Flowing Hair Dollar is considered one of the rarest silver dollars in history, and it broke records when it sold for over $10 million dollars at auction.

The United States established its own standard monetary unit on July 6, 1785, naming it the "dollar" after the Spanish dollar that circulated in the original colonies.

The first U.S. Mint building began operations in Philadelphia in 1793, and the first silver dollar, the Flowing Hair dollar, was minted the following year.

The Flowing Hair dollar was produced for just one year, from 1794 to 1795, with a total mintage of 1,758 coins.

The first U.S. silver dollar marked the beginning of silver dollar coinage in the United States, setting a precedent for future designs and series.

Only about 140 examples of the 1794 Flowing Hair Silver Dollar are known to exist today, making it a highly prized collectible due to its age, historical importance, and scarcity.

The Flowing Hair dollar laid the groundwork for the modern coin design elements that the U.S. Mint still uses today, with its iconic depiction of Lady Liberty and the American bald eagle.

The first silver dollar minted in America is the Flowing Hair Dollar, which was struck in 1794, and it's considered one of the rarest silver dollars in history.

The U.S. Mint began operations in Philadelphia in 1793, and the first silver dollar was minted the following year, marking the beginning of silver dollar coinage in the United States.

The Draped Bust dollar, minted from 1795 to 1804, replaced the Flowing Hair coinage and boasted a remarkable era in American dollar history. Its reverse design remained similar to the Flowing Hair dollar until 1798, when it was changed to a heraldic eagle.

These coins are extremely valuable to collectors today, with a place in American coinage history that's very important. The Draped Bust dollar is one of the rarest silver dollars in history.

The Draped Bust dollar was minted by the United States Mint, with a mintage number that's very low due to scarce precious silver ore. This scarcity makes the dollar a highly sought-after collector's item.

The Draped Bust dollar is notable for its artistic depiction of Lady Liberty on the obverse, and its reimagined American bald eagle on the reverse. The eagle appears to be proudly standing on top of its nest, surrounded by a wreath.

Here's a brief summary of the Draped Bust dollar's design changes:

The Draped Bust dollar is a rare and valuable collector's item, with even the lowest condition specimens selling for several thousand dollars.

The Gobrecht and Liberty Seated silver dollars are some of the rarest and shortest-lived in American history.

The Gobrecht dollars were issued from 1836 to 1839, with no coins bearing the 1837 date. This series was executed by U.S. Mint engraver Christian Gobrecht, based on sketches by Thomas Sully and Titian Peale.

The Gobrecht dollars feature Liberty seated holding a shield and a capped pole, with a large eagle flying on the reverse. The F. in Gobrecht's inscription is an abbreviation of the Latin word Fecit, which translates to "made it".

The Liberty Seated dollars, introduced in 1840, bear the obverse design created by Christian Gobrecht, depicting Liberty seated on a rock with her left hand holding a liberty cap on a pole. The reverse design features an eagle clutching an olive branch and arrows.

The motto IN GOD WE TRUST was added to the reverse of the Liberty Seated dollars in 1866, during the Civil War era. This addition continued through the end of the series in 1873.

The Gobrecht dollars of 1836-1839 are one of America's rarest and shortest-lived silver dollars. They were issued just three years, with no coins bearing the 1837 date.

The design was executed by U.S. Mint engraver Christian Gobrecht, based on sketches by Thomas Sully and Titian Peale. His inscription C. GOBRECHT F. is on the obverse, at the base of Liberty, who is seated holding a shield and a capped pole.

The F. in his inscriptions is an abbreviation of the Latin word Fecit, which translates to "made it".

The Liberty Seated dollars, produced from 1840 to 1873, are a fascinating series of coins. They feature the iconic Liberty Seated design, created by Christian Gobrecht.

Liberty is depicted seated on a rock, with her left hand holding a liberty cap on a pole, and her right hand resting on a shield inscribed LIBERTY. This design is a departure from the earlier Gobrecht dollars.

The reverse of the Liberty Seated dollars features an eagle clutching an olive branch and arrows, a design that improved upon the earlier American bald eagle designs. This eagle is carrying a significant amount of symbolism.

In 1866, the motto IN GOD WE TRUST was added to the reverse of the Liberty Seated dollars, a move that reflects the religious fervor of the Civil War era. This addition continued through the end of the series in 1873.

Finding a Liberty Seated dollar in peak condition is nearly impossible, making it one of the rarest silver dollars in history.

Trade and Morgan Coins were two significant types of silver dollars in American history. Trade Dollars were minted from 1873 to 1885, with 36 million coins produced, and most were sent to the Orient where they were eventually melted down for their high silver content.

The high silver content of Trade Dollars made them valuable for melting down, but it also led to counterfeiting issues, which the Chinese government addressed by requiring merchants to stamp unique "chop marks" onto the coins. This practice is still studied by numismatists today.

The Morgan Silver Dollar, minted from 1878 to 1904, is a classic among coin collectors, with Lady Liberty depicted wearing a bonnet and a band that says 'Liberty'. While not one of the rarest silver dollars, certain low mintage and proof releases of the Morgan can fetch high prices at auction.

In the 1850s, U.S. merchants were eager to expand trade with the Orient and China.

Chinese merchants didn't accept paper money and were hesitant to accept gold, so silver coinage was used as an alternative.

The Comstock Lode hadn't been discovered yet, and the mintage of Liberty Seated dollars wasn't sufficient to export quantities to the Orient, so U.S. merchants bought Spanish-American 8 Reales at a premium from Mexico.

These special coins, known as Trade dollars, contained more silver than regular-issue dollar coins.

Congress authorized the minting of Trade dollars, featuring Liberty seated on the obverse and an eagle on the reverse, along with the weight and purity of the coins.

36 million Trade dollars were minted, with over 27 million sent to the Orient.

The high silver content of these coins led to most being melted down overseas and their silver used for other purposes.

By 1876, the circulation of Trade dollars in America was no longer desirable, so Congress removed their legal tender status.

The Morgan Dollar series is one of America's most popular collectibles.

Big, hefty, and 90% silver, Morgan dollars are definitely worth considering for any serious collector.

The Morgan Dollar was minted continuously from 1878 to 1904, making it a classic in the world of numismatics.

Certain low mintage and proof releases of the coin might fetch insane sums at auction, but for the average collector, building a stack of Morgan dollars can be a great way to start or grow a collection.

Lady Liberty's depiction on the Morgan Dollar is a notable change from earlier coins, with her hair now neat and partially obscured by her bonnet.

The Peace Dollar was a significant addition to U.S. dollar history, minted from 1921 to 1935. It honored peace after World War I, with a design selected from a competition among top medalists.

The design featured Liberty wearing a spiked headdress similar to the Statue of Liberty's, and an American eagle facing the new dawn on the reverse. The word PEACE was inscribed below.

The Peace Dollar's obverse was modeled after designer Anthony de Francisci's wife, Teresa. This added a personal touch to the coin's design.

Few dollar coins were saved during the Great Depression, and many Peace dollars were lost to silver melts over the years. This scarcity, combined with the coin's remarkable beauty, has made it a favorite among collectors.

The Peace Silver Dollar is also known for its historical significance and scarcity, making it one of the rarest silver dollars in history.

Silver dollars can be quite rare, especially the ones minted with high silver content. In the modern coin community, actual silver dollars are a bit rarer than the copper alloy coins that are now minted for circulation.

Rarity plays a significant role in determining the value of an American silver dollar. The most expensive coins are extremely rare.

Silver content also affects the value of a silver dollar. Some coins are worth millions of dollars due to their high silver content.

Historical context is another factor that contributes to a silver dollar's value. The rarity of a coin, combined with its historical significance, can make it extremely valuable.

The first silver dollar minted in America was the Flowing Hair Dollar, struck in 1794. It marked the beginning of silver dollar coinage in the United States.

The Flowing Hair dollar was produced following the establishment of the first U.S. Mint building in Philadelphia, which began its operations in 1793. This early silver dollar is a symbol of the United States' burgeoning monetary system.

Only about 140 examples of the 1794 Flowing Hair Silver Dollar are known to exist today out of a total mintage of just 1,758.

The "Manning" Dollar, No. 5, has had a most active career since first coming to public notice in 1875.

This dollar was initially owned by Colonel M. I. Cohen, but the records don't reveal where he got it from.

Colonel Cohen sold it to H. S. Adams in 1875 for a reported price of five hundred dollars.

It then changed hands several times, including being sold to L. G. Parmelee, who later sold it to W. B. Wetmore in 1878 for six hundred dollars.

The dollar was later owned by James H. Manning, from whom it got its name, and then by Elmer S. Sears.

It was eventually obtained by B. Max Mehl, who sold it to Mr. Lammot du Pont in 1921, who is believed to still have it in his collection.

It's remarkable how this one dollar has been passed around so many people, with each new owner having a significant role in its history.

Silver dollars have been minted throughout the history of the United States. The U.S. Mint distributed silver dollars early on, making them some of the first circulation coins.

The tradition of silver coinage in the United States dates back to the earliest days of the country. Silver dollars have been a part of American currency for centuries.

The U.S. Mint has continued to produce silver dollars even to this day.

The Morgan Silver Dollar was minted continuously from 1878 to 1904, making it a classic among numismatists.

The Morgan Dollar features Lady Liberty with a bonnet and a band that says 'Liberty', and her hair is neat and partially obscured by her bonnet.

A lucky few investors can build their stack and impress their collector friends by investing in beautiful numismatic silver coins from early American history.

The Morris Report, presented by Robert Morris in 1782, recommended a silver standard for the US currency, citing its value and portability as advantages.

Morris also suggested the decimal system for its simplicity and noted that the Spanish silver dollar was the coin coming nearest to a general standard throughout the Colonies.

The Spanish milled dollar was favored by Morris and Thomas Jefferson as the monetary unit, with Jefferson suggesting dividing it into tenths and hundredths.

The 1921-1928 and 1934-1935 period saw the introduction of two new Peace dollar designs. These coins were a significant departure from the previous Morgan coinage.

Anthony de Francisci was commissioned to create the final designs for the Peace dollar, which he did with great success. Some people even think the figure on the coin looks startled or frightened.

During this time, a total of about 277 million silver dollars were minted. That's a lot of coins! Yet, certain dates are already in short supply.

One interesting fact about the 1928 dollars is that many of them have a bevel on the milling at the edge, making them appear thinner than other dollar coins.

Coinage of the Peace dollar stopped in 1928, only to resume again in 1934 and 1935, but this time at only one mint.

The Mint Cabinet Specimen No. 1 is a fascinating coin that's shrouded in mystery. It was submitted to the Director of the Mint in Washington, D.C. on January 1, 1912.

This coin is described as similar to the 1798 dollar, but with a beading around the borders. The edge of the coin is very faintly struck, with the legend only being legible in certain areas.

The Mint Collection, which includes this coin, was gathered by Adam Eckfeldt, a Die Forger and Turner who worked at the Mint in 1795. His grandson made an affidavit about the "Dexter" in 1887.

The Mint specimen had been in the Collection for more than forty years and was considered an original by Mr. Snowden. However, there are questions about why Adam Eckfeldt's son, Jacob R., didn't specifically mention it as a rare coin in his book on Mint processes and procedures.

The Mickley No. 2 dollar was first recorded in 1867 when Mr. Joseph J. Mickley sold it to Mr. W. A. Lilliendahl for seven hundred fifty dollars.

Mickley obtained the coin from the Bank of Pennsylvania, Philadelphia, many years before the sale.

The dollar was later sold to Edward Cogan, who then sold it to Mr. W. S. Appleton, a New England collector, in 1868.

Since 1905, the Mickley No. 2 dollar has been part of the Appleton Collection in the Massachusetts Historical Society, Boston, Mass.

There are few recorded prices for this dollar during the transfers of ownership.

The Morris Report was a significant document that played a crucial role in shaping the US monetary system. It was written by Robert Morris, Superintendent of Finance, and presented to the Congress of the Confederation in 1782.

The report advocated for a silver standard, with Morris stating that gold is more valuable than silver but also more exposed to fraudulent practices. He believed that a paper circulation would be more practical for trade.

Morris found the Spanish silver dollar to be the coin that came closest to a general standard throughout the Colonies. He favored the decimal system for its simplicity.

The report's recommendations were influential, and the Congress of the Confederation ultimately approved the dollar as the US monetary unit in 1785.

The 1804 Draped Bust dollar is one of the rarest and most valuable coins in the world, with only eight examples known to exist.

Its rarity is due in part to the fact that it was never actually minted in 1804, but was instead created in the 1830s as a presentation piece.

The 1854-S half dollar is another rare example, with only 268 examples known to exist, making it one of the rarest coins in the world.

Its rarity is due to a combination of factors, including a low mintage and a short circulation period.

The 1794 Flowing Hair Regular Strike is one of the rarest silver dollars in history, with a total mintage of just 1,758 coins.

It's estimated that surviving specimens can be worth hundreds of thousands of dollars, even if they're in poor condition.

The first U.S. Mint building began operations in Philadelphia in 1793, and the first silver dollar appeared the following year – the Flowing Hair dollar of 1794-95.

The Flowing Hair Silver Dollar is iconic for laying the groundwork for the modern coin design elements that the U.S. Mint still uses today.

On the obverse, you'll find the bust of Lady Liberty with her hair flowing and thirteen stars surrounding her.

The American bald eagle appears on the reverse, surrounded by a wreath and the name of the United States.

The 1796 Draped Bust Small Date is a rare and valuable coin that's a must-have for collectors. It's the second attempt at a silver dollar by the U.S. Mint, and it's unique due to its tiny letters used for its date and inscriptions.

This coin was minted in 1796, with a mintage number of just under 80,000. That's a relatively small number compared to other coins, which makes it even more valuable to collectors.

The 1796 Draped Bust Small Date is considered one of the rarest silver dollars in history, and even the lowest condition specimens can sell for several thousand dollars. In fact, one of the highest grades given to this coin sold at auction for $23,500 in 2022.

Here are some key facts about the 1796 Draped Bust Small Date:

The Draped Bust Small Date is a remarkable coin that's a testament to the early days of American coinage. Its unique design and low mintage number make it a true treasure for collectors.

Some of the most valuable and expensive silver dollars in history are truly mind-boggling, with prices reaching astronomical sums.

Imagine a coin that was minted thousands of times, distributed into the general public, and then used to purchase goods and services. Then, over two-hundred years later, fewer than ten coins still survive in the hands of dedicated collectors.

The 1794 Flowing Hair Silver Dollar – Special Strike is one of the rarest and most valuable coins, selling for a record-breaking $10,016,875 at auction.

Its condition, SP66, is extremely rare and highly sought after by collectors. The 1804 Draped Bust Original Proof is another highly valuable coin, selling for $7,680,000 at auction.

It's worth noting that the condition of the coin, PR68, is also extremely rare and highly valuable. The 1794 Flowing Hair Dollar, with a condition of MS64, sold for $2,820,000 at auction.

Here are some of the most expensive silver dollars ever sold at auction:

These prices are a testament to the rarity and historical significance of these coins.

The government's role in the history of the US silver dollar is fascinating. The Coinage Act of 1873 allowed private mints to produce silver dollars, but the government maintained control over the design and metal content.

The government's decision to mint silver dollars was influenced by the need for a standard unit of currency. The Act of 1873 also established the weight and fineness of the silver dollar, setting it at 412.5 grains of silver.

The government's control over the silver dollar's design led to the creation of iconic coins like the Morgan dollar. The Morgan dollar was designed by George T. Morgan and featured a portrait of Lady Liberty.

The government's decision to mint the Morgan dollar was a response to the need for a larger, more durable silver dollar. The coin was minted from 1878 to 1904 and again from 1921 to 1925.

The government's handling of the Morgan dollar's production was marked by controversy, including allegations of counterfeiting. The government's response to these allegations led to changes in the coin's design and production process.