Silver Dollar Collection

in Silver

The silver dollar collection you are considering should be one filled with interesting stories and history. The United States Mint has been producing these coins since 1794, but for some reason, many versions of the coins never really took hold. Although single dollar coins have been popular in other cultures, in the United States, they were often put on the backburner or no longer produced at all since there was such a lack of interest in using them for many years.

Those who like to collect the silver dollar will find that over their lifetime, dollar coins have been minted in various materials, including gold, silver, nickel, copper, brass, manganese and zinc. Of all of these types, most people who have a silver dollar collection, usually because they have the more interesting history behind them. The composition of these silver coins is 90 percent silver and 10 percent copper. Silver on its own is simply too weak to hold up to the rigors of everyday use. The actual silver weight of the coins is .7736 troy ounces. In the Trade Dollar, there was an increase in the amount of silver put into the coins. This was done to up the value higher so the coin could be used in foreign markets. Those particular coins were not meant to be circulated in the United States. The last silver dollar coins to be minted for circulation were in 1970 and these had only 40 percent silver with 60 percent copper nickel.

Those who start a silver dollar collection should know a bit about the history of these coins. First, when the coins were first minted in 1794, the value of one dollar was significant. It could buy you a great deal during that time. More so, silver was just as valuable as gold was during that time. The first coins to be minted were very limited since finding silver to use was difficult to do.

What is more interesting about a silver dollar collection is that they were not often used in general circulation for one reason or another. In some cases, the value of a dollar was simply too high. In other situations, the value of silver rose so high that it was too difficult to mint them. In other cases, they just did not do well in general circulation. In the 1870's they were legislated out of production, in fact, because of their lack of need. No one missed them, except for the silver industry. The silver industry worked hard to get these coins minted again and in 1878 they were started again, and minted through 1804. They broke at that point from minting for general circulation until 1836.

If you are planning to start a silver dollar collection, do spend some time considering older pieces where are considered more valuable, especially those coins minted in 1794. The 1804 silver dollar is also one of the most valuable coins due to its very limited production. Any of these coins can be part of your collection.

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Rachel Barr has 1 articles online

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Silver Dollar Collection

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This article was published on 2010/04/01