Silver dollar coins

Types of Silver Dollar Coins

The term "silver dollar coin" refers to several large two-dollar coins and dollar-denomination circulating coins, collectible coins, and bullion coins in the United States and several other countries. However, the type that has gained worldwide prominence is the "Morgan" silver dollar, a 90% silver coin, measuring 38.1 mm in diameter and weighing approximately 26.73 grams. The "Peace" silver dollar also falls under silver dollar coins. This dollar is made up of 90% silver and 10% copper coinage alloy. It has similar dimensions as the Morgan coin, measuring 38.1 mm in diameter and weighing around 26.73 grams. However, it includes slightly different designs.

Other types of silver dollar coins come from silver dollar coins minted by different nations. For instance, "Australian silver dollar" refers to Australian silver bullion coins in the one-dollar denomination. It consists of various coins, including the silver kookaburra coin and the silver kangaroo coin, which are all silverproof coins. "Chinese silver dollar" coins are the silver silver dollar coins in the one-yuan denomination, including the popular giant panda silver coins.

Below are some more types of silver dollar coins:

• Morgan silver dollar: The Morgan silver dollar was designed by US mint engraver George T. Morgan and released in 1878. It features Martha Washington's depiction of the goddess Liberty on the obverse side of the coin and an American eagle on the reverse side, which unites the coins through a series of design elements.
• Peace silver dollar: The Peace silver dollar was designed by former US mint chief engraver Anthony de Francis, who had developed the coin as a commemorative token. The Peace silver dollar is the second silver dollar coin created, striking the first one in 1921. It features a representation of the peace goddess on the obverse and an eagle on the reverse. The last coin was minted in 1935.
• Sitka silver dollar: It was minted by the 49th state quarter in 2008, which featured the sitting eagle design on the obverse and totem poles in the Tongass National Forest on the reverse of the coin. The 49th state quarter also bears the word "SITKA" and "1890" on the coin.
• Silver bullion coins: Several governments have minted and released modern bullion silver dollar coins, such as the Australian kookaburra and kangaroo coins, the Chinese giant panda silver coins, and the British silver lunar series coins, which were all featured in the one-dollar denomination.

Design of Silver Dollar Coins

Silver dollar coins, especially the US silver dollars, have interesting designs with abundant symbolism. The Morgan silver dollar features an in-depth design of the goddess Liberty on the coin's obverse, representing beauty and freedom. The Coinage Act of 1792 funds the engraving of currency that will be used in the US. Liberty appeared in the early designs of most US coins. The "head" of the coin features formlessness and practicality, with liberty's cap, a symbol of preparations and dreams of the freedom of its wearers from oppression. Other elements that make up the design include the thirteen stars above liberty's head, the ore branch, and the eagle, representing the new nation, hope, and diversity. The Peace silver dollar, designed by former Chief Engraver Anthony de Francis, features a more stylized depiction of liberty on its obverse, embodying a "peaceful" countenance.

The reverse side of the Morgan silver dollar showcases a majestic bald eagle, a symbol of the nation. In the Peace silver dollar, the reverse depicts an eagle in flight, mirroring the coin's theme of peace and hope for the future. Remarkably, both coins share a common design element seen on other silver coins, the "United States of America" and "E Pluribus Unum" inscribed around the edges.

Prior to 1933, all US circulating silver coins, silver dollars, dimes, and quarters, included the inscription "In God We Trust" on the inside. The 1900 O Morgan dollar, the last Morgan dollar leather case baby from the New Orleans mint, has its mintmark located on the inside of the lower-left corner of the rear fence of the privy. The privy in the center of the Morgan dollar showcases a small, rounded area of the design enclosed by pear-shaped vines and leaves.

The silver dollar coins' initial designs remain intact, and the coins retain their original artwork. However, some later-design silver dollar coins have areas that were worn by activity or have seen other elements replaced. Additionally, some places might reproduce the initial designs of the silver dollar coins. For instance, in 1971, the US mint produced a coin known as the Eisenhower dollar, which displayed a likeness of President Dwight Eisenhower on its obverse. Although the design of this coin wasn't as striking as the Morgan or Peace silver dollars, it has remained a significant piece of history, particularly among collectors.

How to Choose Silver Dollar Coins

Several people get interested in buying a silver dollar coin as a collector piece, as an investment, or simply to enjoy owning a beautiful piece of history. Choosing the perfect silver dollar coin will require evaluating some factors, regardless of the reason for buying the coin. Here are some:

• Condition: Silver dollar coins are available in different grades or conditions, ranging from heavily worn to uncirculated, which means the coin looks as if it was just struck by the mint. Gold dollar coins' conditions influence the coins' values, with uncirculated coins often being worth more than circulated coins.
• Rarity: The "Morgan dollar" was produced at different mints, such as the Carson City and San Francisco mints. Coins of particular years or from specific mints are often more rarely and therefore more valuable than others. Coin silver dollar was a popular design in the 1800s. However, it has become rare in recent years. The silver content in these coins makes them valuable as it increases the weight and size of the coin, with a corresponding higher value.
• Authenticity: It's crucial to ensure that any silver dollar coin purchased is genuine and not a replica. For more recent coins, like the Eisenhower dollar, this might be less of a concern. However, coins from the 18000s, such as the Morgan dollar or the Peace dollar, often face reproduction threats.
• Placement of mint marks: Mint marks are small letters or spells on dollar coins. They represent which mint facility produced the coin. They are often located near the base of the wing on the eagle on the dollar coin's rear. For instance, the "O" mint mark for the New Orleans mint is located on the inside of the back Morgan dollar's right ear.

Scenarios for Silver Dollar Coins

In recent years, people have grown to appreciate the importance of silver dollar coins in different scenarios. Apart from the silver dollar coins provided by the US, other countries and territories have also minted their unique silver dollar coins. The value of these coins is determined by their numismatic value or the amount of silver they contain. Here are some scenarios where silver dollar coins are relevant:

• American citizens: For Americans, the Morgan dollar and Peace dollar are parts of the baby boomer and silver dollar nostalgia and collectibles. These coins are highly desired by coin lovers because of how they look and their historical significance. Some of these coins are valuable and are considered investments or financial security.
• Investors: Silver dollar coins are used as investment vehicles by many investors. This helps them to preserve their wealth and hedge against inflation. It also helps investors to achieve diversification in their investments. Commonly, these coins are used by investors because they are easy to buy and sell in order to increase their liquidity.
• Precious metals enthusiasts: People who like precious metals and consider them an integral part of their asset portfolios include silver dollar coins as part of the collectible bullion. These dollar coins, which are worth more than face value, enable enthusiasts to own metal and history.
• International collectors: Collectors from different parts of the world admire silver dollar coins that were originally produced by the US mint. They sometimes highlight how silver dollar coins were made or feature designs of the Morgan or Peace dollar.

While people mainly purchase silver dollar coins for their silver content, the coins' historical, cultural, and artistic features are also appreciated.

Q&A

Q1: Are all silver dollar coins worth more than their face value?

A1: Yes, all silver dollar coins are worth more than their face value. However, some may be worth only a small amount more, while others can be worth hundreds or thousands of dollars.

Q2: Can silver dollar coins still be used as legal tender?

A2: Yes, silver dollar coins can still be used as legal tender in the United States. However, their numismatic value is much larger compared to their face value, so they are rarely used in day-to-day transactions.

Q3: How can silver dollar coins be distinguished by their silver content?

A3: Silver dollar coins can be distinguished by their silver content based on the difference in their year of manufacture and the type or design of the coin. For instance, the Morgan and Guess Peace dollar coins are made up of 90% silver.

Q4: How to store silver dollar coins?

A4: Silver dollar coins should be stored in a cool, dry, and dark environment. It is better to place each coin in an individual protective coin holder to prevent scratching or damage.