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Silver Dollar

By Ken Marlborough

Silver is one of the most versatile precious metals and can be put to more than one use. It serves practical, as well as ornamental purposes. It has been used for making coins of different denominations, as it is a malleable metal. History of use of silver coins can be traced as back as the 15th century when deposits of silver in Germany and central Europe were beaten into coins. Thomas Jefferson advocated minting of silver dollars in United States. The first silver dollar was struck in the year 1794 as per his recommendation.

There are different types of Silver Dollars that come with different nomenclatures. Silver Dollars are also collectibles, and people who have a passion for collecting coins are always on the look out for rare ones. The silver dollar is a favorite with coin collectors. This dollar coin meant for general circulation has 90% silver content. It is known as the true American Silver Dollar, because those minted thereafter do not have as much silver in them. The production of the Peace Silver Dollar began between 1934 and 1935, in Philadelphia, Denver and San Francisco. Its relevance also lies in the fact that it was issued in commemoration of the end of World War I.

The Morgan silver dollar, first minted in 1878, was named after George T. Morgan, who designed it. This coin is also popular with collectors. The Morgan Silver Dollar was not as sought after as the Peace was. It was snubbed by coin collectors to the extent that many dates, including those in mint state condition could be obtained for as little as $1.00. It was after 1962, when the U.S government started selling original 1000 pieces that Morgan came to light. Its exclusivity and uniqueness led to the expansion of the collector's base of the Morgan Silver Dollars.

There are many websites that showcase silver dollars of different kinds such as the silver JFK half-dollar, the Morgan Silver Dollar, the gold plated Silver Eagle Dollar and the Peace Dollar.

About The Author

Silver provides detailed information on Silver, Silver Rings, Sterling Silver Jewelry, Colloidal Silver and more. Silver is affiliated with Sterling Silver Jewelry.

Additional Numismatists Info

Occasionally, someone will come up with a new (and usually foolproof) method for coin restoration, whether dipping the coins in ketchup or vinegar or Coca-Cola. What these methods usually involve is dipping the coin in a very weak acid to restore the surface. Most of the time, they can ruin the toning (that's what acid does), causing a valuable coin to lose most of its value.
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A major type of luster is prooflike. When dies are readied for production they are polished and/or rubbed with a cloth in order to make them appear bright and new. This polish fades rather quickly and certain issues are almost never seen with mirror-like reflectiveness. As an example, I have seen very few Prooflike coins from Charlotte and Dahlonega and only a handful from New Orleans.
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If you are wondering where you can find old money, you probably won�t like my answer. It is really difficult to find old money. Of course, you might still be able to collect a Thomas Jefferson two dollar bill, but those antique coins and notes you are seeking won't be easily found, nor purchased. The easiest way to satisfy your desire to collect old money is through dealers, collectors, auctions and old money paper shows.
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There is an interesting fractional currency which is much sought after by collectors. These are private banknotes from the 1800s. Before the US government created a national banknote there were some banks issuing their own money without government backing. However, it was not long before these banks were closed down and the banknotes were counterfeited and altered.
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When investing you want to weigh very heavily towards the coins that are most readily accepted at coin dealerships and markets around the word. Following are some of the most popular styles: American Eagle, American Buffalo, Canadian Maple Leaf, South African Krugerrand, Chinese Gold Panda, and Vienna Philharmonic. Some of the above listed coins are 22 karat gold (Eagles and Krugerrands) and others are 24 karat gold (Buffalos, Maple Leafs, Pandas, and Philharmonics). The great thing about buying a good variety of coins is you will diversify between 22 karat and 24 karat as well. Before buying, make sure you do your research and don't let the coin dealer talk you into something you're not interested in owning.
You can buy a coin book that hold silver dollars in our Silver Dollars Galore store.

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