Silver dollars are prized by a worldwide audience. These coins have the face value of $1 and have been minted, or struck, in the United States since 1794. Even with the coin's longtime circulation, it's not highly popular with Americans, who prefer to use the dollar bill. Collectors, however, seek out the silver dollar for its beauty, diversity and history.
History
Thomas Jefferson pushed for the silver dollar to be adopted in 1785, but manufacturing was delayed until 1794. The problem was due to conflicts between Jefferson, who was Secretary of State, and Alexander Hamilton, who was Secretary of the Treasury (and in charge of the Mint). Hamilton resented Jefferson's position and made it difficult for Jefferson to requisition bullion to make the silver dollar.
Size
The silver dollar has a diameter of 39 to 40 mm.
Most Popular
Some of the most popular types include the Liberty Head (1794 to 1804), Morgan Liberty Head (1878 to 1921), Peace (1921 to 1935) and American Eagle (1986 to the present).
Production
Production currently occurs in West Point and Philadelphia. Locations where production was held in the past include Denver, San Francisco, New Orleans and Carson City.
Value
Early silver dollars were extremely valuable due to their silver content. In fact, these coins were more valuable than their face value, so people hoarded them.
Fun Fact
Silver dollar production halted in 1904 due to a shortage of silver bullion. To offset the problem, 270 million silver dollars were melted in 1918, and by 1921, minting resumed.
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