Specifications

Designer: Anthony de Francisci
Diameter: 38.5 millimeters
Metal Content: Silver – 90%, Copper – 10%
Weight: 412.5 grains (26.7 grams)
Edge: Reeded
Years of minting: 1921–1928; 1934–1935
Mint marks: D, S. Located above tip of eagle’s wings on reverse.
Mintmark: None (for Philadelphia, Pennsylvania)

The Peace dollar is a United States dollar coin minted from 1921 to 1928, and from 1934 to 1935. Designed by Anthony de Francisci, the Peace dollar was the result of a competition to find designs emblematic of peace. Its reverse depicts a Bald Eagle at rest clutching an olive branch, with the legend “Peace”. It was the last United States dollar coin to be struck for circulation in silver.

Approximately 32,400 coins on which Morgan had tried to keep a higher relief were struck in January 1922. While all were believed to have been melted, one circulated example has surfaced. The new low-relief coins, which Fraser accepted on behalf of the Commission, though under protest, were given limited production runs in Philadelphia in early February. When the results proved satisfactory, San Francisco began striking its first Peace dollars using the low-relief design on February 13, with Denver initiating production on February 21, and Philadelphia on February 23. The three mints together struck over 84 million pieces in 1922.

The 1926 Peace dollar, from all mints, has on the obverse the word “God”, slightly boldened. The Peace dollar’s lettering tended to strike indistinctly, and Burdette suggests that the new chief engraver, John R. Sinnock, may have begun work in the middle of the motto “In God We Trust”, and for reasons unknown, only the one word was boldened. No Mint records discuss the matter, which was not discovered until 1999.

The Peace dollar circulated mainly in the Western United States, where coins were preferred over paper money, and saw little circulation elsewhere. Aside from this use, the coins were retained in vaults as part of bank reserves. They would commonly be obtained from banks as Christmas presents, with most deposited again in January. With the last of the Pittman Act silver struck into coins in 1928, the Mint ceased production of Peace dollars. Production resumed in 1934, due to another congressional act; this one requiring the Mint to purchase large quantities of domestic silver, a commodity whose price was at a historic low. Over seven million silver Peace dollars were struck in 1934 and 1935. Mint officials gave consideration to striking 1936 silver dollars, and in fact prepared working dies, but as there was no commercial demand for them, none were actually struck. With Mint Chief Engraver Sinnock thinking it unlikely that there would be future demand for the denomination, the master dies were ordered destroyed in January 1937.

An unofficially produced 1964-D Peace dollar, struck over a genuine silver dollar by a private mint

On August 3, 1964, Congress passed legislation providing for the striking of 45,000,000 silver dollars. The new pieces were publicly announced on May 15, 1965, and coin dealers immediately offered $7.50 each for them, ensuring that they would not circulate. On May 24, one day before a hastily-called congressional hearing, Adams announced that the pieces were deemed trial strikes, never intended for circulation. The Mint later stated that 316,076 pieces had been struck; all were reported melted amid heavy security. To ensure that there would be no repetition, Congress inserted a provision in the Coinage Act of 1965 forbidding the coinage of silver dollars for five years. No 1964-D Peace dollars are known to exist in either public or private hands. However, they have been privately restruck using unofficial dies and genuine, earlier-date Peace dollars.

Peace dollar counterfeits

Chinese Peace dollar forgery

The 1923 silver dollar on the left is authentic and the Peace Dollar on the right is counterfeit. The date, on the counterfeit has letters that are thinner than the authentic example on the right. The details, in general, don’t look well struck plus the luster and color of the coin should give you the impression that it doesn’t look “right”.

It’s important to look closely at any silver dollar’s “edges”, but that I mean, how well are the edges of the letters and numbers struck. Also, make sure they’re the correct font for the series and that the date and mint mark match what was actually authorized by the US Mint.

Specifications

Designer: William Barber.
Diameter: 38.1 mm.
Composition: Silver (90%) and Copper (10%).
Weight: 26.7 grams.
Years of minting: 1878–1904, 1921
Edge: Reeded.
Mintmark: None for Philadelphia, CC (Carson City), S (San Francisco), O (New Orleans), D (Denver).

Morgan Dollars are among the most popular of all United States coinage. The series was introduced in 1878 and minted continuously until 1904, and again in 1921. It was the first standard silver dollar minted since production of the previous design, the Seated Liberty dollar, ceased due to the passage of the Fourth Coinage Act. The coin is named for its designer, United States Mint Assistant Engraver George T. Morgan.

In 1898, Congress approved a bill that required all remaining bullion purchased under the Sherman Silver Purchase Act to be coined into silver dollars. When in 1904, those silver reserves were depleted, the Mint ceased to strike the Morgan dollar. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. Pursuant to the act, Morgan dollars resumed mintage for one year in 1921. The design was replaced by the Peace dollar later the same year.

In the early 1960s, a large quantity of uncirculated Morgan dollars was found to be available from Treasury vaults, including issues once thought rare. Individuals began purchasing large quantities of the pieces at face value, and eventually the Treasury ceased to exchange silver certificates for silver coin. Beginning in the 1970s, the Treasury conducted a sale of silver dollars minted at the Carson City Mint through the General Services Administration. In 2006, Morgan’s reverse design was used on a silver dollar issued to commemorate the old San Francisco Mint building.

Counterfeit Morgan Dollars

The above is obviously counterfeit for many reasons and the incorrect date and mint mark should be the first thing noticed. No CC (Carson City) were minted in 1895. Incorrect mint marks i.e. 1887-CC, 1888-CC, 1878-O, 1902-CC, or any Morgan with a D mint mark other than the 1921, are but one problem when it comes to counterfeits, but it’s the most easiest to discern once you know the appropriate dates and mint marks combinations.

Of course, this so-called 1895-CC has more going against than an incorrect mint mark, even the letters and numbers and other design features are “off” when you compare it to the authentic Morgan Dollar image above it. Another note, all business strike (for circulation) 1895 Morgans have either and S (San Francisco) or an O (New Orleans) mint mark, the 1895 without a mint mark is only found as a proof.

If coin looks odd, it may be a fake or counterfeit, and silver dollar collectors should always be wary of the “too-good-to-be-true-deal”. Also, any suspect fake should be weighed and examined by expert.

This coin’s metal content is steel (it sticks to a magnet) and no 1903 CC’s ever created. It’s a good replica of a date and mint mark combination that never existed, but one look at the font of the date and you can tell it’s wrong.

The fake 1884 Morgan dollar weighs half of what an authentic coin should weigh. Also notice that the authentic 1892 silver dollar has a lot more evidence of wear but still weighs double verses the counterfeit.

Fake Morgan Dollars Made in China

This is a photo of the coin press. Several freshly struck fake Morgan Dollars lie to the right of the machine. They look like they might even be Proof Morgans, which would almost certainly be struck on a machine that uses hand-fed coin blanks, but some of the machinery in this operation looks pretty old so maybe they’re just normal Morgans after all. Whatever quality of striking they have, whether it be Proof or normal, one thing is certain: they’re FAKE!

Here’s a close-up image of a few freshly-minted fake Morgan Dollars struck in China. Those fake Morgans sure look to be pretty high-quality counterfeits. Of course, this counterfeiting ring will process them so that each one appears to have a different amount of wear, toning, contact marks, and other minor imperfections so that they don’t all look too much alike. Some of these fake Morgan Dollars will also find their way into counterfeit PCGS and NGC slabs, but most of the fakes these counterfeiters sell are sold “raw” (rather than slabbed.)

Here is an edge view of the same handful of fake Morgan Dollars shown above. The coins may or may not have been struck on genuine .900 fine silver planchets, though. The Chinese have been experts at creating lookalike alloys for more 1,500 years.

Specifications

Mintage: Circulation strikes: 455.000 / Proofs:1150.
Designer: William Barber.
Diameter: 38.1 mm.
Composition: Silver (90%) and Copper (10%).
Weight: 27.2 grams.
Edge: Reeded.
Mintmark: Above the D from Dollar. (None for Philadelphia)

The Trade dollars were first struck in 1873, and most of the production was sent to China. Eventually, bullion producers began converting large amounts of silver into trade dollars, causing the coins to make their way into American commercial channels. This caused frustration among those to whom they were given in payment, as the coins were largely maligned and traded for less than one dollar each. In response to their wide distribution in American commerce, the coins were officially demonetized in 1876, but continued to circulate. Production of business strikes ended in 1878, though the mintage of proof coins continued until 1883.

The Trade Dollar was designed by William Barber and was loosely based on the design of contemporary silver coins in circulation designed by Christian Gobrecht. The obverse features an image of Liberty, seated on bales of merchandise in what appears to be a harbor or beach by the sea. Her right hand extends an olive branch, and her left holds a scroll inscribed LIBERTY. The motto IN GOD WE TRUST appears at the base, with the date below and thirteen stars surrounding.

On the reverse, a bald eagle is pictured with its wings spread and a bundle of arrows and a branch in its talons. Under the eagle is the weight and fineness of the coin, appearing as 420 GRAINS, 900 FINE. The inscriptions UNITED STATES OF AMERICA and TRADE DOLLAR appear above and below, with E PLURIBUS UNUM appearing on a banner directly above the eagle. Except for some minor modifications, this design would remain the same until the last coins of the series were struck.

Counterfeit Trade Dollars

Despite the poor quality of the image, the above 1874 Counterfeit Trade Dollar is a pretty close match to the authentic 1873 Trade Silver Dollar. However, if you look closer you can see some inconsistencies in the strike. On the reverse you can see an overall weakness and depth of the design features, letters, etc.

Also, the letters and numbers are not as “crisp” or cut as sharply as the authentic Trade Dollar. Another common theme among counterfeit silver dollars is their “dirty” appearance, but don’t think they all have these problems or appearances.

The above image is an example of an 1872 Trade Dollar, and I could point out many features that make this coin fake, but the bottom line is that NO Trade Dollars where produced in 1872! If you don’t know this fact already than please look over our website, for this info, or buy an authoritative coin book.

How to Detect Counterfeit Trade Dollars

1. You can find a hole behind the ladies head where the ribbon curls, where the metal is chipped out manually.
2. The eagle’s eye will be full. On a real coin the eagle’s eye is half shut.
3. The true way to identify fake coins is through their weight, fake coins are silver washed over copper, and weigh around 18 grams whereas a real Trade Dollar will weigh 27.22 grams.
4. Check for the price at which the trade coins are being offered. Real Trade Dollars coins sell for around US$ 20 for an average conditioned coin. If you are being offered for a lower price, then we would probably have to check out why the sellers offer them at this price.
5. Check the coin’s numbers and letters for the same design or font of other like coins.
6. Check whether the size of the coin appears in the same size as other like coins
7. Examine the metal texture and compare it to authentic coins of the same type.
8. You could also identify fake ones through coin turn. Most of the fake coins does not have a coin turn, in other words when you flip the coin normally the reverse is almost upside down.

Specifications

Obverse Design: Liberty seated on a boulder
Reverse Design: Eagle with outstretched wings and the Union shield on its breast
Edge: Plain
Weight: Originals – ±27.0 grams, Restrikes – ±26.7 grams
Diameter: ±39 millimeters
Composition: Originals – Silver (89.2%), Copper (10.8%), Restrikes – Silver (90%), Copper (10%)
Dates Minted: 1836-1873
Designer: Obverse by Thomas Sully, reverse by Titian Peale, both executed by Christian Gobrecht

The Seated Liberty Silver Dollar coin of 1840 to 1873 was the first regular issue coin of this denomination since 1803 (technically, the 1804 Dollar was struck in 1834 and restruck in the 1860s). Seated Liberty Dollars were introduced in 1840 and were minted in larger quantities than the sparsely minted Gobrecht Dollar that preceded it. The design was based on the Gobrecht dollar, but the soaring eagle used on the reverse of that coin was replaced with a heraldic eagle. In 1866, “In God We Trust” was added to the dollar as well as other denominations following its introduction to United States coinage. Seated Liberty dollar production was officially halted by the Coinage Act of 1873, which authorized the trade dollar, although silver dollar production resumed in 1878 with the Morgan Dollar. The dollars were used in general circulation until 1853. By 1853, the value of a US Silver Dollar contained in gold terms, $1.07 of silver. With the Mint Act of 1853, all US Silver coins, except for the US Silver Dollar and new 3 cent coin, were reduced by 6.9% as of weight with arrows on the date to denote reduction. The Silver Dollar was continued to be minted in very small numbers mainly as a foreign trade to the Orient.

The international trading partners did not like the fact that US coins were reduced in weight. From 1853 onwards, trade with Asia was typically done with Mexican coins that kept their weight and purity in the 19th Century. This ended in 1874 when the price of silver dropped so that a silver dollar has less than $1.00 worth of silver in it. By 1876, all silver coins were being used as money and by 1878, gold was at par with all US paper dollars. Beginning in 1878, huge amounts of the Morgan silver dollars were produced but few were used as money. The size was too large to carry on business so silver certificates were used instead. The mint make the coins, placed them in their vaults and issued the Silver Certificates instead. This is the reason so many Morgan and Peace dollars can be purchased in AU or UNC condition.

Each coin is composed of 0.77344 troy oz of silver. They were minted at Philadelphia, New Orleans, Carson City, and San Francisco. A Silver dollar is worth $1 in silver at $1.31 per troy ounce.

Collecting Seated Liberty dollar

Mintages for the Seated Liberty dollar only reached 1 million in two years: 1871 and 1872, with a mintage of around 1.1 million in both years. In most cases, mintages were 180,000 or less. The rarities of the series include the following: 1851 (retails $3,150 in Good), 1853 (retails $2,700 in Good), 1854 (retails $1,000 in Good), 1858 (a Proof only issue, retailing $3,000), 1871-CC (retails 2,000 in Good), 1873-CC (retails $900 in Good), and 1873-CC (retails 2,300 in Good). I have left out two pieces that are so rare, abandon all hope of ever owning them: the 1870-S, of which 12-15 are know, would fetch at least $65,000 in Fine condition, and the 1873-S where supposedly 700 were struck, but none are known today.

“Common” dates would include the 1859-O, 1860-O, 1871 and 1872. All these dates retail about $190 in Good, $240 in Fine, $425 in Extra Fine. The Seated Liberty dollar circulated, but not too extensively, which is why there aren’t usually big price jumps from Good to Fine condition, as there would be in other U.S. coin series. Though it may be difficult to find a high-grade piece of Extra Fine or higher, it’s not too hard to find a Seated Liberty dollar in at least, Fine condition.

Seated Liberty dollar counterfeit

The eBay seller accurately describes a Seated Liberty silver dollar, but they did not make Seated Liberty silver dollars in 1877.
The only SL dollars with an O mint mark were struck in 1850, 1859, and 1860. Since the O mint mark plainly shows under the eagle, it seems like the date 1850, 1859, or 1860 was changed to 1877. Look at the date closely. You can readily see the alteration.

Its a modern Chinese couterfiet of a non-existant US coin. In summary, the value of a modern Chinese counterfeit is essentially zero. In America, it is illegal to own counterfeit coins unless they are properly annotated with the word COPY stamped into the design.

It’s obvious the second Seated Silver Dollar is a counterfeit. The most obvious flaw is the scroll with motto on the reverse, all pre-1866 Seated Dollars didn’t have a motto or the scroll on the reverse.

Another obvious problem, is that the coin appears to be “cleaned” but this is more likely caused by the die being polished to mimic circulation wear. It’s a popular tactic among counterfeiters to make a coin look more authentic and to hide incorrect design elements from looking obvious.

Furthermore, this coin doesn’t have the word COPY stamped on it’s surface, making this particular coin illegal to own. Some might argue that since there’s no such thing as an 1847 Seated Liberty Dollar, with a motto on the reverse, then it’s just a fake reproduction.

Specifications
Circulation strikes: 1,600
Proofs: estimated 100
Designer: Obverse by Thomas Sully, reverse by Titian Peale, both executed by Christian Gobrecht
Diameter: ±39 millimeters
Metal Content: Originals – 89.2 % Silver, 10.8% Copper
Restrikes – 90% Silver, 10% Copper
Weight: Originals – ±416 grains (±27.0 grams)
Restrikes – ±412.5 grains (±26.7 grams)
Edge: Plain (except for a reeded edge on one Restrike variety)
Mintmark: None (all examples of this date were struck at the Philadelphia Mint)

The Gobrecht dollar, minted from 1836 to 1839, was the first silver dollar struck for circulation by the United States Mint since production of that denomination was officially halted in 1806. The silver dollar was struck in small numbers to determine whether the reintroduced silver dollar would be well-received by the public.

In 1835 Robert M. Patterson assumed the position of the Director of the United States Mint. Patterson began an attempt to redesign the nation’s coinage. Christian Gobrecht was hired as an engraver. On August 1, Patterson wrote a letter to Philadelphia artist Thomas Sully laying out his plans for the dollar coin. He also asked Titian Peale to create a design for the coin. Sully created an obverse design depicting a seated representation of Liberty and Peale a reverse depicting a soaring bald eagle. After the designs were created and trials struck, production of the working dies began in September 1836.

After a small quantity was struck for circulation, the Mint received complaints regarding the prominent placement of Gobrecht’s name on the dollar, and the design was modified to incorporate his name in a less conspicuous position. In January 1837, the legal standard for the percentage of precious metal in silver coins was changed from 89.2% to 90%, and the Gobrecht dollars struck after that point reflect this change. In total, 1,900 Gobrecht dollars were struck during the official production run. Production of the Seated Liberty dollar, which utilized the same obverse design as the Gobrecht dollar, began mintage in 1840. In the mid-nineteenth century, Mint officials began restriking the coins without authorization.

Counterfeit Gobrecht dollar

Ebay Counterfeit 1836 Gobrecht Dollar

Ebay Listing Number: 110678345098
Listing Date: April, 2011
Item Location: China
Offered with an opening bid of $299. This counterfeit did not sell.

Specifications

Obverse Design: Bust of Liberty facing right
Reverse Design: Heraldic representation of the Great Seal of the United States with UNITED STATES OF AMERICA around the rim
Edge:
Class I – Lettered – HUNDRED CENTS ONE DOLLAR OR UNIT
Class II – Plain
Class III – Lettered – HUNDRED CENTS ONE DOLLAR OR UNIT

Weight:
Class I – 26.96 g (0.867 ozt)
Class II – 24.711 g (0.794 ozt)
Class III – 27.15-27.41 g (0.872-0.881 troy oz)

Diameter: 39-40 mm (1.53-1.57 in)
Composition: 90% Silver, 10% Copper

The 1804 Silver Dollar (or Bowed Liberty Dollar) is one of the rarest American coins. Mint reports from 1804 show a delivery figure of 19,570 Silver Dollars, but numismatists believe these were all leftover coins dated 1803. Certain qualities of the known 1804 Silver Dollars indicate that the first 1804 Silver Dollars were struck in or about 1834, when orders came from the State Department for special sets of coins to be struck for diplomatic purposes. Later restrikes were made sometime after 1857.

Divided into “Classes,” 15 specimens are known. Eight comprise Class I, which were minted in 1834. Two Class I specimens trace their lineage to the King of Siam and the Sultan of Muscat. One comprises Class II and six comprise Class III and were minted sometime between 1858 to 1860. It is alleged both Class II and Class III specimens were made clandestinely by Mint officials.

Class I examples were made circa 1834 – these all have lettered edges and no rust pit in the field just left of the top leaf of the olive branch on the reverse. Class II examples were made after 1857 – the only known specimen has a plain edge. Class III examples were made after 1857 – they all have lettered edges and a rust pit in the afore-mentioned place on the reverse.

In 1804, United States Mint records indicate that 19,750 silver dollars were struck. However, these were all minted from old but still-usable dies dated 1803, and are indistinguishable from the coins produced the previous year. Silver dollars dated 1804 did not appear until 1834, when the U.S. Department of State was creating sets of coins to present as gifts to certain rulers in Asia in exchange for trade advantages. The U.S. Government ordered the Mint to produce “two specimens of each kind now in use, whether of gold, silver or copper”.

The first 1804 silver dollars minted in 1834 were presented as gifts to Rama III, King of Siam and Said bin Sultan, Sultan of Muscat and Oman. The other five were dispersed under unknown circumstances after Ambassador Edmund Roberts died en route during the voyage. One was retained in the US Mint Coin Collection. In 1842, numismatists first learned of the 1804 dollar through a book displaying an illustration of the 1804 dollar from the Mint Cabinet. These silver dollars are known among numismatists as “original” or Class I 1804 dollars. Eight of these coins are known to exist. One of these coins was displayed as part of the “King of Siam” collection at the Smithsonian Institution in 1983, where it was given the name “the King of Coins.” It was purchased by an anonymous collector in 2001, who purchased the entire set of coins from the King of Siam collection for over $900 million.

Between 1858 and 1860, a small number of 1804 silver dollars were illegally struck by an employee of the Mint named Theodore Eckfeldt, and sold to coin collectors through a store in Philadelphia. The number of coins minted is believed to be between ten and fifteen, struck with two separate coin dies, known to numismatists as “Class II.” The illegally minted coins were hunted down and seized by officials of the Mint. Today, only one Class II coin exists, residing at the Smithsonian Institution.

The Class III specimens were produced between 1858 and 1860, also made by Theodore Eckfeldt. Although similar to the Class I coins, there are differences. There are seven known Class III specimens, which can be distinguished from Class I pieces by their reverse design, lettered edge found on Class I, and weak design. The die from which the Class III specimens were made was seized by Mint Director James Ross Snowden in 1860, but by this time several were in collectors’ hands.

Counterfeit 1804 silver dollar

Counterfeits exist of the 1804 Silver Dollar, with some con artists and perpetrators of fraud trying to pass off coins as the real thing. Some were brought back by service personnel returning from the Vietnam War. Various private mints have produced replicas of the 1804 dollar over the years. The replicas have little worth as collectors’ items, with their silver content fetching them a price of current melt values and some collectible value as silver rounds.

This is fake dollar from the Vietnam era, brought back by service personnel returning from Southeast Asia. It’s a cast copy of the 1800 “AMERICAI” variety, with the last zero in the date having been reengraved into a 4–there’s a cavity surrounding the 4 where metal was removed. The fields have a porous texture common with cast counterfeits. The coin has a realistic lettered edge.

The coin is lightweight, at 22.8g, and plated. The surface consists of silver alloyed with a moderate amount of copper, while the core is likely copper. This fake is documented in Virgil Hancock and Larry Spanbauer’s 1979 book Standard Catalog of Counterfeit and Altered United States Coins and in John Devine’s 1975 book Detecting Counterfeit Coins. The specimen examined by Devine weighed 23.4g.

This image of a cast, tooled 1804, saying the piece weighed 26.6g and had a lettered edge.

This is another 1804 with grotesquely rendered breasts and poorly done overall. It appeared on eBay from a seller in India with zero feedback in a private auction. The seller said that the piece was “found in Southeast Asia, probably Thailand.”

Specifications

Obverse Design: Lady Liberty with free flowing hair
Reverse Design: A Bald Eagle surrounded by a wreath
Edge: Text saying “HUNDRED CENTS ONE DOLLAR OR UNIT”
Weight: 26.96 grams; 416 grains (by statute)
Diameter: 39 or 40 millimeters
Composition: 89.25% Silver, 10.75% Copper
Silver Content: 0.7737 ounces

The United States Mint produced silver dollar coins from 1794 to 1803, then ceased regular production of silver dollars until 1836. Silver coinage started in 1794 with two denominations-the dollar and half dollar; both were identical in design (half dimes of this date were coined the following year). The dollar was deemed the most prestigious, so Mint officials decided to strike that first. Actually, the Mint had gotten a running start on the new coins: Engraver Robert Scot had been told to prepare designs for them months before the legal snarl was untangled.

The Flowing Hair dollar is slightly larger and heavier than later U.S. cartwheels like the Morgan and Peace dollars. Its authorized fineness differs, too, but its actual fineness doesn’t, because of some curious doings at the Mint. Congress had specified a peculiar alloy of 1485/1664 silver and 179/1664 copper, for a fineness of .8924+. But Assayer Cox complained that this was too difficult to achieve and, what’s more, that silver coins would turn black in ordinary use unless they were at least .900 fine. He prevailed on Rittenhouse to let him use that higher standard, even though Congress hadn’t sanctioned it, creating an incredible situation where the Mint was actually breaking the law of the land. This led to substantial losses for people who deposited silver bullion with the Mint and took silver dollars in return, for they were being forced to furnish more silver per coin than the law required. Eventually, some sought and obtained reimbursement.

It’s believed that the Mint struck a total of 2,000 silver dollars in 1794, all from a single pair of dies. Evidently, some were rejected as being excessively weak and may have ended up being used as coin blanks the following year or simply being melted. The accepted net mintage is 1,758, with estimates of about 120-130 survivors in all grades. The entire production occurred on a single day, October 15, and Voight stored many of the coins in the Mint’s vaults, giving them to Rittenhouse the following May. The Director presented a few of the dollars to VIPs as souvenirs and also made a point of spending some in order to get the coins before the public. Rittenhouse never distributed all the coins, however, resigning due to failing health in June of 1795.

The Neil/Carter/Contursi specimen 1794 Flowing Hair Silver Dollar has sold for $7,850,000, setting a new record as the world’s most valuable rare coin.

The United States has minted dollar coins since 1794. The coins have been made of many substances, gold, silver, copper, nickel, brass, zinc, & manganese, but the most popular is the US silver dollar. If you are interested in collecting silver US coins, you want to know how much silver is in a silver dollar.

As a rule, the composition of the US silver dollar is 90% silver and 10% copper. The actual silver weight (ASW) is .7736 troy ounces. There was a brief period of silver dollar production when the silver content was upped slightly to compete in foreign markets, but this coin, known as a Trade Dollar, was never intended for domestic circulation. The last circulating silver dollar coins minted in the 1970s contained only 40% silver to 60% copper nickel.

During the early years of US coinage, silver was at least as scarce as gold, and at some times, it was even more valuable. Mintage’s in the early years were very limited due to this scarcity of silver. There was a break in production in silver dollars of some 32 years from 1804 till 1836. Silver was just too scarce and too valuable. It was not until the finding of the “Comstock Lode” in 1850 in Nevada that large quantities of silver dollars could be produced. Even this huge silver find eventually played out. This resulted in another large gap in silver dollar production as the mint ran out of silver in 1904. It was not until after the huge melt of 1918 that silver dollar production was resumed in 1921. By 1926, this silver pool also was running low. Production quantities shrunk until they were again suspended in 1928, resuming only for two years in 1934-5.

Starting in 1986, the US mint began producing the Silver Eagle dollar coin which is 100% silver totaling a full troy ounce. This however is not a circulating coin as the silver content is worth at least 5 times as much as the face value. In the early years, when the silver content was more valuable then the face value, hoarding occurred. However, the value of a dollar up until the mid 1960s was historically significantly higher than the value of silver.

Do you know how much silver is in a silver dollar?

Because of generally slow activity, some dealers became much more reasonable on their prices. That provided a number of opportunities for bargain hunters like me. I was able to acquire a number of pieces for customer want lists from dealers who typically would price nice coins at levels too high for me to consider them a good value.

In particular, there were plentiful inventories of common and better date classic US gold coins. I was able to acquire some pieces at prices that surprised other dealers. Better date Morgan dollars and Peace dollars were also more affordable than in the past couple of years.

The handful of nice classic US silver commemoratives that I have identified as relative bargains were difficult to find, perhaps even more than in the recent past. Other areas where it was difficult to find nice coins (no matter the price) were Mint State-63 and higher Barber coinage and Standing Liberty quarters.

In general, dealers lamented about a lack of demand for key date US coins. The entire Lincoln cent series is retreating from levels that peaked in early 2009. From discussions with coin dealers, there seems to be a lack of fresh collectors such as occurred after the introduction of Statehood quarters and the Sacagawea dollars. As a result, other popular products purchased by newer numismatists such as proof sets and mint sets are just not moving like they have in years past.

Another factor in market demand is the needs of companies who market to the general public. A few years ago, a lot of small size US currency and generic circulated early 20th century coinage was in strong demand. Today, there just aren’t any aggressive wholesale buyers to speak of. Some of this no doubt reflects consumers tightening their purse strings and avoiding the purchase of such discretionary goods.

1804 Draped Bust Quoter in excellent condition was sold on Ebay. The winner will pay a US $10,601.01 for that interesting and rare coin.

Quarter dollars minted from 1804 through 1807 continue the Draped Bust obverse first used in 1796.

Quarter dollars of the 1804-1807 years are readily located in grades from About Good through Very Fine. Extremely Fine pieces are elusive, AU pieces are rare, and uncirculated pieces are exceedingly rare. Virtually without exception, issues of this design are lightly struck in one or more areas, with the obverse and reverse rims, the stars on the obverse, and the stars above the eagle on the reverse being typical areas of light impression.

Designed by: Robert Scot
Issue dates: 1804-1807
Composition: 0.8924 part silver, 0.1076 part copper
Diameter: 27.5 mm
Weight: 104 grains
Edge: Reeded
Business strike mintage: 554,900