The silver dollar is a coin worth one dollar in US currency. Dollar coins have been minted multiple times beginning in 1794. In the past, they have been minted in gold, silver, and base metals. Silver coins were the first dollar coins to be minted. The term is actually used to refer to a number of different coins, whether or not they are made of silver. Any white metal coin worth one dollar is commonly referred to as a silver dollar in the United States.
The first coins to be minted in this mintage were made after the passing of the Coinage Law of 1792. The law authorized their production. The United States Mint began producing these coins and did so from 1794 to 1803. They were not produced again until 1836. The original mintage was only 1758 of them. They were dated October 15, 1794. These early coins were not put into circulation but were given to foreign and domestic dignitaries as souvenirs.
Various designs were used on these early coins:
• The Flowing Hair coin was minted between 1794 and 1795
• The Draped Bust coin was minted between 1795 and 1804. In particular, there are two reverse designs of this coin, one from 1795 to 1798 and the other from 1798 to 1804.
If you are lucky enough to own one of these early American silver dollars, consider yourself in possession of some of the best available. Some of them are considered extremely rare.
Things changed when the 1804 silver dollar was produced. It is the rarest coin and one of the most notable for coin collectors around the world. These coins are considered to have been minted in error, and although they were minted in 1804, they were dated 1803. The 1804 coin was actually minted in 1834, as a way to create gifts for Asian leaders. Only 15 coins were minted with that date. One of these that was sold in 1999 sold for over four million dollars.
The Seated Liberty dollar was the next coin to be minted in dollar denominations. It was produced from 1836 to 1873. These coins saw fairly good use in general circulation. However, in 1853, the value of silver was greater than the actual face value of the coin. It was coined for the following years but mainly because it was necessary to facilitate trade in the East. In 1870, the value of silver fell again, and coins were again produced for general circulation.
Those who collect silver dollars should learn the age of the coins. In the early years, silver was valuable. Furthermore, one dollar could be used to purchase a large number of products, and therefore coins were often considered too valuable for regular use. Still, as history later shows us, even when inflation occurred, Americans have never held on to silver dollars, as well as other currencies and paper money.
