Explaining silver dollar coins
The United States has minted dollar coins in many different materials including gold, silver and base metal. The first batch of coins minted in the United States was of silver dollar coins. The minting took place in 1794.
despite what the name indicates, Silver dollars do not actually have to be dollars. This is simply a term that somehow stuck and is used to refer to all coins made from silver in the USA.
On the other hand, there are some who strictly maintain that in order for a coin to be termed as a silver dollar it must have had a face value of one dollar when it was first minted regardless of it's value today.
One of the most sought after silver dollar coins amongst collectors is the 1804 silver dollar. In actual fact this coin has the date 1803 printed on it due to a mishap although the date of their first issue was definitely 1804.
It is ironic to know that none of the dollars that the year the dollars were minted is actually different from the year that has been stamped on the coins. The 1804 silver dollar coin was reproduced in 1834 when the government decided it would use these coins in a set to be given as a gift to Asian rulers.
Today 1804 silver dollars are very hard to come by. In fact most estimates say there are only around twenty or so in the world. If you did by some chance happen to find one of these coins in the attic you could easily get more than two million dollars for it.
The seated liberty dollar is another special set of coins that was introduced in the year 1840. It was minted in relatively large quantities during the initial years but the minting steadily declined with the introduction of newer coins.
During most of the 1800's the value of one dollar was greater than the cost of the silver used to mint a single coin. Once this changed however, and the value of the raw silver reached over a dollar the days of the silver dollars became numbered.
For a period of time silver dollars became a popular medium of exchange in the far east until a brief spell in the 1870's when the prices of silver dropped again that the silver dollar came back into domestic use.
The trade dollar first came into appearance in the Us at a time when the major European powers were also circulating their own silver coins. Spain, France and Britain were all minting their own silver coins at this time.
The fact that there was so much global competition made it imperative that the US assure the high quality of their own coins. It is for this reason that the US silver dollar trade coin is made with a higher purity of silver than other coins.
The vast majority of trade dollars made their way into Asia during the initial years of their minting. They were highly successful in meeting their objectives.
In fact the trade dollar was never openly issued for circulation in the USA. However, with a fact value of $5 per coin these dollars were available for collectors or anyone else in the US wanting to buy one. - 23199
despite what the name indicates, Silver dollars do not actually have to be dollars. This is simply a term that somehow stuck and is used to refer to all coins made from silver in the USA.
On the other hand, there are some who strictly maintain that in order for a coin to be termed as a silver dollar it must have had a face value of one dollar when it was first minted regardless of it's value today.
One of the most sought after silver dollar coins amongst collectors is the 1804 silver dollar. In actual fact this coin has the date 1803 printed on it due to a mishap although the date of their first issue was definitely 1804.
It is ironic to know that none of the dollars that the year the dollars were minted is actually different from the year that has been stamped on the coins. The 1804 silver dollar coin was reproduced in 1834 when the government decided it would use these coins in a set to be given as a gift to Asian rulers.
Today 1804 silver dollars are very hard to come by. In fact most estimates say there are only around twenty or so in the world. If you did by some chance happen to find one of these coins in the attic you could easily get more than two million dollars for it.
The seated liberty dollar is another special set of coins that was introduced in the year 1840. It was minted in relatively large quantities during the initial years but the minting steadily declined with the introduction of newer coins.
During most of the 1800's the value of one dollar was greater than the cost of the silver used to mint a single coin. Once this changed however, and the value of the raw silver reached over a dollar the days of the silver dollars became numbered.
For a period of time silver dollars became a popular medium of exchange in the far east until a brief spell in the 1870's when the prices of silver dropped again that the silver dollar came back into domestic use.
The trade dollar first came into appearance in the Us at a time when the major European powers were also circulating their own silver coins. Spain, France and Britain were all minting their own silver coins at this time.
The fact that there was so much global competition made it imperative that the US assure the high quality of their own coins. It is for this reason that the US silver dollar trade coin is made with a higher purity of silver than other coins.
The vast majority of trade dollars made their way into Asia during the initial years of their minting. They were highly successful in meeting their objectives.
In fact the trade dollar was never openly issued for circulation in the USA. However, with a fact value of $5 per coin these dollars were available for collectors or anyone else in the US wanting to buy one. - 23199
About the Author:
Ray Humphreys is a coin collector and loves silver coins. for more info on US minting check out the page on Silver Dollars
posted by X - Men @ 5:25 AM
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