1794-1795

COIN NAME: SILVER DOLLAR 1794-1795
DESIGNED BY: Robert Scot
ISSUE DATE: 1794-1795
COMPOSITION: 0.8924 part silver, 0.1076 part copper
DIAMETER: 39 to 40 mm
WEIGHT: 416 grains
EDGE: Lettered HUNDRED CENTS ONE DOLLAR OR UNIT
BUS MINT: 162,053
PROOF MINT: None

While it appears these first minted dollars were struck in abundance, only 1758 of the 1794 date were produced. It hardly seemed worth the effort. The 1794 will be almost impossible to find as many collectors settle for the 1795 coin to fill design type collections.

The Flowing Hair dollar design of 1794-1795 is similar to that used on contemporary half dimes and half dollars. The obverse depicts the small head of Miss Liberty facing right, with flowing hair. LIBERTY is above, and the date is below. Eight stars are to the left and seven are to the right. The reverse depicts an open wreath enclosing a "small" eagle perched on a cloud. UNITED STATES OF AMERICA surrounds. The border of this and other early dollars is composed of denticles.

Most pieces seen are in grades from About Good to Very Fine. Examples are apt to show mint-caused adjustment marks and to be lightly struck in certain areas. Many hundreds exist, so locating one will be a matter of preference and pocketbook. Extremely Fine pieces are scarce, but still they appear on the market with some frequency. AU coins are rare, and pieces which can be described as strictly Uncirculated are very rare.

1795-1798 Draped Bust, Small Eagle

COIN NAME: SILVER DOLLAR 1795-1798 Draped Bust, Small Eagle
DESIGNED BY: Robert Scot
ISSUE DATE: 1795-1798
COMPOSITION: 0.8924 part silver, 0.1076 part copper
DIAMETER: 39 to 40 mm
WEIGHT: 416 grains
EDGE: Lettered HUNDRED CENTS ONE DOLLAR OR UNIT
BUS MINT: 123,434 (does not include a small number of 1798 dollars with the Small Eagle reverse.)
PROOF MINT: None

*Mintage figure of 123,434 does not include a small number of 1798 dollars with the Small Eagle reverse. The 1795 Draped Bust dollar was the first of this design in American coinage. When combined with the small eagle reverse, this coin is the scarcest of early dollars.

In the silver dollar series the obverse motif was continued through pieces dated 1804 (business strikes last made in 1803, however), while the reverse motif was employed through early 1798. The obverse features a portrait of Miss Liberty as just described, with LIBERTY above, the date below, and eight stars to the left and seven to the right. The reverse shows a "small" eagle perched on a cloud within an open wreath. UNITED STATES OF AMERICA surrounds.

Specimens exist in all grades, with those most frequently encountered apt to be in Very Good to Fine preservation. Very Fine pieces can be readily located, Extremely Fine coins are scarcer, and those in AU or better preservation are decidedly rare. A strictly Uncirculated coin would be considered a prime rarity. Examples often show parallel mint-caused adjustment marks. As these coins were produced strictly for utilitarian purposes, no attention was paid to striking them carefully.

1798-1804 Draped Bust, Heraldic Eagle

COIN NAME: SILVER DOLLAR 1798-1804 Draped Bust, Heraldic Eagle
DESIGNED BY: Robert Scot
ISSUE DATE: 1798-1804
COMPOSITION: 0.8924 part silver, 0.1076 part copper
DIAMETER: 39 to 40 mm
WEIGHT: 416 grains
EDGE: Lettered HUNDRED CENTS ONE DOLLAR 01 UNIT
BUS MINT: 1,153,709 (includes a limited number of 1798 dollars with the earlier Small Eagle reverse)
PROOF MINT: None originally; some restrikes

While there were no proof coins minted in this design era, some restrikes were produced and dated 1804. Proof restrikes can be found in dates 1801,1802 and 1803. An interesting feature worthy of note is the standardization of stars to seven left and six right. The only exception is a scarce variety of 1799 with eight left and five right. The reverse is similar to that used on the dime of the year and is adapted from the Great Seal of the United State.

Examples of this motif were minted from 1798 through 1803 with only restrike pieces dated 1804. Among business strikes, examples most often encountered are apt to be dated 1798 or 1799. Those dated 1800 are scarcer, while those dated from 1801 through 1803 are considerably scarcer although they are not rarities. Grades found usually range from Very Good through Very Fine.

Extremely Fine coins are fairly scarce, while AU pieces are scarcer yet. Strictly Uncirculated coins are great rarities. In keeping with other early silver issues, pieces often display mint-caused planchet or adjustment marks and areas of light striking.

1840-1865 Liberty Seated

COIN NAME: SILVER DOLLAR 1840-1865 Liberty Seated
DESIGNED BY: Christian Gobrecht
ISSUE DATE: 1840-1865
COMPOSITION: 0.900 part silver, 0.100 part copper
DIAMETER: 38.1 mm
WEIGHT: 412.5 grains
EDGE: Reeded
BUS MINT: 2,890,563
PROOF MINT: Fewer than 5,500

It seems that in later years, this Dollar held a little more of its value than did other coins of the era. Most other coins began to shrink in size and weight, yet this coin maintained its total weight and actually had more than twice the silver than did many of the Half Dollars of the same period.

The Liberty Seated style was first produced for large-scale circulating coinage in 1840. The obverse depicts Miss Liberty seated on a rock, holding in her left hand a liberty cap on a pole and with her right hand holding a shield inscribed LIBERTY. Thirteen stars are above, and the date is below. The reverse shows an eagle perched on an olive branch and holding three arrows, with UNITED STATES OF AMERICA above and HALF DOL. below.

The years, 1852, and 1858 designated as major rarities. More common issues are readily available in grades from Very Good through Extremely Fine, with most survivors being in Fine to Very Fine grade. As silver dollars were not circulated as extensively as other denominations, few are seen in grades below Very Good. AU coins are available, as are Uncirculated pieces, particularly 1859-0 and 1860-0 in the latter category Superb Uncirculated pieces are rarities. Proofs were first distributed to collectors in 1858 and are available from that date through 1865.

1866-1873 With Motto

COIN NAME: SILVER DOLLAR 1866-1873 With Motto
DESIGNED BY: Christian Gobrecht
ISSUE DATE: 1866-1873
COMPOSITION: 0.900 part silver, 0.100 part copper
DIAMETER: 38.1 nun
WEIGHT: 412.5 grains
EDGE: Reeded
BUS MINT: 3,597,888
PROOF MINT: 6,060

Surprisingly, these Liberty Seated Dollars are more rare in Good or Very Good grades than they are in Fine to Very Fine. By this time, Silver Dollars did not circulate as well as coins of smaller denomination. Consequently all are scarce although lesser grades, of the more scarce variety, are not necessarily more valuable The Liberty Seated dollar design was modified in 1866 by the addition of the motto IN GOD WE TRUST on the ribbon or scroll above the eagle on the reverse. Otherwise the design is essentially the same as that used from 1840 onward. The with-motto format continued in use through 1873.

Extremely Fine pieces are available, AU coins are scarce, and Uncirculated pieces are scarcer yet. Superb Uncirculated coins are rarities. Proofs were made of all Philadelphia Mint issues and exist today in proportion to their original mintages.

1878-1921 Morgan

COIN NAME: SILVER DOLLAR 1878-1921 Morgan
DESIGNED BY: George T. Morgan
ISSUE DATE: 1878-1921
COMPOSITION: 0.900 part silver, 0.100 part copper
DIAMETER: 38.1 mm
WEIGHT: 412.5 grains
EDGE: Reeded
BUS MINT: 656,989,387
PROOF MINT: 23,723

Known today simply as the "Morgan Dollar", this coin was minted by the hundreds of millions. It's commonly traded by the roll and coins of all grades can be easily found. Proof coins are also available in proportion to the original number of pieces struck. George T. Morgan produced this new design which gave Miss Liberty back her more feminine look.

The obverse depicts Miss Liberty facing left, her hair in a Phrygian cap. LIBERTY is inscribed on a ribbon or band holding a spray of leaves and sheaves. E PLURIBUS UNUM is above, seven stars are to the left, six stars are to the right, and the date is below. The reverse depicts a wingspread eagle holding a branch and three arrows. IN GOD WE TRUST appears in Old English letters above. Surrounding is the inscription UNITED STATES OF AMERICA and ONE DOLLAR. Additional pieces were made at San Francisco, Carson City, and New Orleans during the 1878-1904 span and in 1921 at Denver and San Francisco.

The type set collector will have no difficulty acquiring a common date Morgan dollar in any grade desired from Good through superb Uncirculated. Proofs were minted for all dates at Philadelphia, and their survival today is proportional to the original figures.

1873-1885 Trade

COIN NAME: SILVER DOLLAR 1873-1885 Trade
DESIGNED BY: William Barber
ISSUE DATE: 1873-1885
COMPOSITION: 0.900 part silver, 0.100 part copper
DIAMETER: 38.1 mm
WEIGHT: 420 grains
EDGE: Reeded
BUS MINT: 35,954,535
PROOF MINT: 11,4O4

The Trade Dollar, first minted in 1873, derived its name from its intended purpose. That purpose being, for use in foreign trade, specifically in the Orient. At the time there was a need to compete with the Mexican Dollar. Today, it seems odd that competition in trade was ever affected by the physical characteristics of the currency used. Back in the good old days, the value of a currency or coin was based on the actual value of the metal contained within. If someone else gave you more silver for the same product, you traded with that source of more valuable coinage. Today our dollar is the currency of choice all over the world. However, nothing more than a promise to pay the bearer or exchange with the bearer backs it. To adequately compete, the weight of the Trade Dollar was increased to 420 grains.

The obverse depicts Miss Liberty seated on a bale, of merchandise, her right hand holding a branch, her left hand holding a ribbon inscribed LIBERTY, a sheaf of wheat behind, and the sea in front. IN GOD WE TRUST appears at the bottom just above the date. Stars surround the upper portion. The reverse depicts an eagle holding three arrows and a branch, with E PLURIBUS UNUM on a ribbon above, 420 GRAINS, 900 FINE. Below, the inscription UNITED STATES OF AMERICA and TRADE DOLLAR surrounds.

1921-1935 PEACE

COIN NAME: SILVER DOLLAR 1921-1935 PEACE
DESIGNED BY: Ardhony DeFrincisci
ISSUE DATE: 1921-1935
COMPOSITION: 0.900 part silver, 0.100 Part copper
DIAMETER: 38.1 mm
WEIGHT: 412.5 grains
EDGE: Reeded
BUS MINT: 190,577,279
PROOF MINT: Fewer than 50 in 1921-1922

In 1921, both Peace Dollars and Morgan Dollars were produced. Very few Proofs were made making them quite valuable as compared to Proofs of other Silver Dollars. It is believed this dollar was referred to as the Peace Dollar to commemorate a time of World Peace. Even the eagle on the reverse appears at peace as it sits perched on a rock with a laurel branch and with PEACE inscribed below. UNITED STATES OF AMERICA and E PLURIBUS UNUM are above, while ONE DOLLAR is to be seen just below the center. Rays of an unseen sun emanate from the lower right.

On the obverse Miss Liberty is facing left, wearing a diadem of spikes. LIBERTY is above, while IN GOD WE TRUST and the date are below. Issues of 1921, and a few pieces dated 1922, are in high relief, although collectors have not necessarily differentiated this as a distinct design. It was found that the high relief caused problems in having the pieces strike up properly, so in 1922 the motifs were redone to a shallower format, a style continued through 1935. Mintage of Peace silver dollars was continuous from 1921 through 1928 and again in 1934 and 1935.