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The coin, which derives its name from the appearance of Lady Liberty on one side, sold at auction for over $10 million in 2013. The record price for a coin was achieved by a silver dollar with a 1794 “Flowing Hair” specimen that was potentially the first dollar ever to be struck by the US Mint in Philadelphia.
The range of designs and the history behind each different coin is a key factor in why silver dollars are one of the most popular coins among collectors. Coins produced from 2012 are no longer for general circulation and are purely commemorative made specifically for collectors. Since that resumption, dollar coins continued to be minted in a variety of designs until 2011. This coin enjoyed a short production run before war once again intervened with no coins struck by the Mint for about 30 years until the creation of the Eisenhower Dollar in the 1970s. The end of World War I saw the passing of the Pittman Act and resulted in the first new silver dollar, known as the Peace Dollar, being minted in 1921. However, just a few years later the Sherman Silver Purchase Act of 1890 led to a surplus in the supply of dollar coins with volumes tailing off over the subsequent years until 1904 when production of the silver dollar was suspended.
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The Coinage Act of 1873 caused the first major disruption by ending the free coining of silver with production of the silver coins only resuming five years later following the Bland-Allison Act, which compelled the Treasury to buy a minimum amount of silver each month to be made into dollar coins. As the name suggests the dollar is made of silver, typically consisting of 90% silver and 10% copper, and is redeemable for $1.Īlthough silver dollars date back over 300 years, the course of history has seldom run smooth. Not bad for a coin that, on the face of it, is worth just $1! What is a silver dollar?Ī silver dollar is a coin made by the United States Mint and was the first dollar minted in the US back in 1794. Silver dollars are the some of the most collectable and liquid in the coin market today, with sought after and rare examples selling for millions of dollars, including the most expensive coin ever sold. Contact support Any questions? Get in touch.Help Centre Find out what you need to know.
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