Dollars

Early Dollars

Flowing Hair Dollar

The Flowing Hair Dollar was the very first type of Silver Dollar coins minted by the United States. It was struck in 1794 and 1795. Designed by Robert Scot, the first Chief Engraver of the United States Mint, who was appointed to the US Mint by President George Washington, the design was roundly criticized. Miss Liberty was an ‘abomination’ and the prescribed American Bald Eagle on the reverse was thought of as ‘too scrawny’. It was not suitable to be representative of the strength and courage of our new nation. Given that the coin press and other necessary equipment required to strike dollar-sized silver coins, only 1,758 coins dated 1794 were struck during that year. Any Silver dollar dated 1794 is an extremely rare coin today in all grades. In 1795 160,295 coins were struck making it much more affordable for collectors today.

Draped Bust Dollar

Due to the criticism that Miss Liberty’s portrait had received, Scot went back to work redesigning a more acceptable portrait of Miss Liberty. Gone was the wild, flowing hair and now Miss Liberty had more refined features and a ribbon neatly held her well combed curly hair. In fact, her facial features were more pleasant and welcoming. This design is called the Draped Bust Silver Dollar with the Small Eagle reverse, as the scrawly eagle remained. These coins were struck between 1795 and 1798, but the criticism of the ‘scrawny eagle’ was unabated, so during 1798, Robert Scot turned his attention to the reverse side of this coin. Now the American Bald Eagle was given a much more regal and historic design. The eagle dominated the reverse and was considerably larger. She bore a shield on her chest and in one set of talons he clutched arrows and in the other she was clutching an olive branch. The symbolism was unmistakable – America was ready for peace (olive branch) or for war (arrows.) Clouds above the eagle, 13 six-pointed stars and a banner stating “E PLURIBUS UNUM” completed the patriotic look. This coin now became the Draped Bust Silver Dollar with the Heraldic Eagle reverse. These coins were struck in this manner until 1803. The rare and elusive 1804 Draped Bust Heraldic Eagle coins were originally struck in very limited quantities, as they were struck in Proof, as dated examples to sell only to the coin collectors of the day. But these coins were actually struck in 1834 and 1835 to satisfy collector demand. As the US explored relations around the globe, there was a need for 1804-dated Draped Bust Heraldic Eagle coins and a few dozen examples were struck with a small number of them given as gifts to dignitaries in these new worlds.

Seated Liberty Dollar

While only a few dozen Silver Dollar coins were struck between 1804 and 1839, demand for these coins were low. Gold was still the dominant metal and Silver Dollars were large and heavy for their limited value, But in 1840, the then Chief Engraver of the US Mint was Christian Gobrecht, Starting in the late 1830s, he created some designs that are today considered as patterns. A ‘Pattern’ is a coin whose design was not accepted and struck as coinage. These “Gobrecht Dollars” pattern coins are very scarce.

The US Mint now had sufficient quantities of silver available and now also had increasing demand. Gobrecht now creates a Seated Liberty Silver Dollar design, The obverse depicted a seated Miss Liberty holding a patriotic shield in her right hand and a pole with a slave cap on it in her left hand, The reverse depicted an eage with outstretched wings. The Seated Liberty Dollar was struck between 1840 and 1873, when the Coinage Act of 1873 ended the production of Silver Dollar coins. . Only the Philadelphia and New Orleans Mints produced the Seated Liberty Dollar and at times, struggled to find enough silver for the dollar. During the California Gold Rush, silver became just as valuable as gold and that caused investors to hoard their silver, instead of it being sold to the US Mint. .

Trade Dollar

Created to improve trading with China, Japan and the Far Eastern nations, the Trade Dollar was minted from 1873-1885. Countries had readily embraced the Mexican Peso and its predecessor, the Spanish Silver Dollar because they contained a higher silver content . . The San Francisco, Carson City, and Philadelphia Mints all produced the Trade Dollar, but the San Francisco minted the highest amount, mainly because of its location being closer to China. Many Trade Dollars contain "chop marks," which are Asian merchant marks stamped into the . coins,, to verify their weight and value. The Trade Dollar was comprised of 90% silver and was designed by Chief Engraver William Barber.

Morgan Silver Dollar

George T. Morgan was an English engraver, who is responsible for designing some very famous coins, especially the Morgan Silver Dollar. Morgan was an assistant engraver for 30 years before he was announced the Chief Engraver for the United States Mint.

The Morgan Silver Dollar began its journey as a minted coin in 1878, after a bill was passed, abruptly ending the production of the Seated Liberty. In those first years, there were many bills passed and vetoed, as the government tried to regulate the amount of silver being mined. The government also had silver reserves that were only to be used to melt and mint silver dollars. Those reserves ran out in 1904 and just like that, the Morgan's production also came to an end. It wasn't until 1918 that the reauthorization of the minting and mining of silver coins was passed. The Morgan dollar had one last hoorah in 1921 before the Peace dollar became the new silver dollar.

The Morgan Silver Dollar was minted from 1878 to 1904 and again in 1921. Morgan Dollars are one of the most popular U.S. coins among collectors. Each Morgan Dollar has a fineness of .900 and a total silver content of 0.77344 troy ounces per coin.

Peace Dollar

In its first year of mintage, the Peace Silver dollar was only minted by the Philadelphia Mint. To get the 1921 issue out, before the year of 1921 was over, the first Peace dollar was struck in mid-December of 1921. Although the mint tried to restart the Morgan silver dollar, many lobbied for a change in design that would memorialize the peace after World War I. After many design flops, the Goddess of Liberty was chosen for the obverse of the Peace dollar. Just over one million Peace dollars were minted in 1921, by the Philadelphia Mint.

Peace Dollars were minted between 1921 and 1928 and again between 1934 and 1935. They were designed to be the successor of the Morgan Dollar but were not minted until after the Morgan Dollar was minted for a second and final time in 1921. The Peace Dollar was the last silver dollar minted for circulation in the U.S.

Eisenhower Dollars

Being the first coin minted with the one dollar denomination since the Peace dollar, the Eisenhower's popularity took off. Honoring Eisenhower, who passed in 1969, a legislation was passed that allowed his face to be on the obverse on the new dollar. Since the bullion prices were increasing, in 1965, the US Mint was forced to use a copper-nickel combination that cut the amount of silver needed for the coins. The only Eisenhower Dollars that contain 40% silver are the silver proof coins and can still tarnish over time, if not stored properly. The Eisenhower Dollars were minted from 1971-1978.

Susan B Anthony

After the less than impressive reaction for the Eisenhower Dollar, the US Mint wanted to mint something smaller but still with the same face value of $1. Keeping the same reverse as the Eisenhower Dollar, the obverse was going to depict Lady Liberty. After much deliberation, the famous social reformer, Susan B. Anthony, was given the honor of having her picture on the new dollar. The US Mint produced over 500 million over the span of a few years, with very little excitement from the public. The Philadelphia Mint went over 200 years without placing a mint-mark on its coins but began the "P" mint-mark with the Susan B. Anthony Dollar. Since it was smaller, many people confused it with the quarter, and the main use became for vending machines and mass transit transportation fare. The Susan B. Anthony Dollars were minted from 1979 to 1981 and in 1999. These coins were replaced by the Sacagawea Dollar in 2000.

Sacagawea Dollar

After the success of the Peace silver dollar, the US Mint wouldn't produce a dollar for another 35 years. After the disappointing reaction to the Eisenhower and Susan B. Anthony Dollars, the US Mint produced the Sacagawea Dollar with lower expectations. Sticking with the smaller size, making for easier transactions, the US Mint didn't overproduce the Sacagawea Dollar. Limiting the number put into actual circulation, the US Mint started production of the Sacagawea in 2000. The obverse displays a portrait of the famous Shoshone Native American hero, who helped guide the Lewis and Clark Expedition.

Presidential Dollars

The presidential $1 dollar program began on January 1, 2007 and continued for over 10 years. All of the US Presidents that have been deceased, for at least 2 years, will be honored in this program. In 2016, the program halted since there were no more deceased presidents to honor.

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