Rare American Coins and the First 50 Years of the US Silver Dollar
The first coins were authorized by congress in 1792 to expedite commerce, with the first issues struck in 1794.
The silver dollars minted from 1794 to 1804 are extremely rare today because they were almost immediately melted for their silver content.
What dollar size silver coins did survive were heavily circulated, because there were so few of them.
The mint simply quit producing silver dollars from 1804 until 1834.
In 1837 congress solved the problem of melting coins by lowering their weight to 412 grains of silver from the previous 416 grains silver.
Their melt value was no longer greater than their face value.
Silver dollar melt value didn't exceed face value again until 1935, when this type of coin was discontinued.
The first silver dollars struck (Flowing Hair liberty) in 1794 and slightly into 1795 are interesting, because they were as close to hand made as US coins got.
The early dies were individually made.
The planchets were weighted prior to press insertion and overweight pieces were filed until they were within tolerance.
The filing marks can be seen on the coins where this process was used.
Underweight planchets were adjusted with the insertion of an 8mm silver plug in the center, before striking.
These early varieties are fun to notice the plug or filing marks as weight adjustment.
These first silver dollars not only weighed 4 grains more than later ones (after 1837), they are larger in diameter, 40mm instead of 38mm.
The 1794/1795 Flowing Hair had a total mintage of only 1758 units.
As you can see, the Flowing Hair Liberty didn't last long, and was quickly followed by the Draped Bust Liberty.
Both issues were designed by the same person, Robert Scot and to the same specifications.
The Draped Bust ran from 1795 to 1804.
Mintages were low on all of these early specimens with several variations made during each year.
The silver dollars dated as 1804 had particularly low mintage, with only 15 proof specimens struck in 1834 and 1835.
The dollar size silver coins dated 1804 display a technology that more closely resembles the mid 1830's, than the coins struck in the late 1700's and early 1800's.
The suspension of silver dollars in 1804 actually ended in 1831, but no coins were struck for commerce until 1836, and those weighed the original specification of 416 grains.
The new Liberty Seated Dollar with a flying eagle reverse (also known as the Gobrecht design) was struck in minimal numbers from 1836 to 1839.
Then in 1837, the standard weight was lowered to 412 grains and the diameter became 38 mm.
Gobrecht dollar coins had two different specifications applied to them, with only 300 to 1,000 minted in any one year.
These early Gobrecht Liberty Seated silver dollars are very valuable today because of their scarcity.
They were the predecessor of the similarly designed and much more common Liberty Seated dollar from 1840 to 1873.
The silver dollars minted from 1794 to 1804 are extremely rare today because they were almost immediately melted for their silver content.
What dollar size silver coins did survive were heavily circulated, because there were so few of them.
The mint simply quit producing silver dollars from 1804 until 1834.
In 1837 congress solved the problem of melting coins by lowering their weight to 412 grains of silver from the previous 416 grains silver.
Their melt value was no longer greater than their face value.
Silver dollar melt value didn't exceed face value again until 1935, when this type of coin was discontinued.
The first silver dollars struck (Flowing Hair liberty) in 1794 and slightly into 1795 are interesting, because they were as close to hand made as US coins got.
The early dies were individually made.
The planchets were weighted prior to press insertion and overweight pieces were filed until they were within tolerance.
The filing marks can be seen on the coins where this process was used.
Underweight planchets were adjusted with the insertion of an 8mm silver plug in the center, before striking.
These early varieties are fun to notice the plug or filing marks as weight adjustment.
These first silver dollars not only weighed 4 grains more than later ones (after 1837), they are larger in diameter, 40mm instead of 38mm.
The 1794/1795 Flowing Hair had a total mintage of only 1758 units.
As you can see, the Flowing Hair Liberty didn't last long, and was quickly followed by the Draped Bust Liberty.
Both issues were designed by the same person, Robert Scot and to the same specifications.
The Draped Bust ran from 1795 to 1804.
Mintages were low on all of these early specimens with several variations made during each year.
The silver dollars dated as 1804 had particularly low mintage, with only 15 proof specimens struck in 1834 and 1835.
The dollar size silver coins dated 1804 display a technology that more closely resembles the mid 1830's, than the coins struck in the late 1700's and early 1800's.
The suspension of silver dollars in 1804 actually ended in 1831, but no coins were struck for commerce until 1836, and those weighed the original specification of 416 grains.
The new Liberty Seated Dollar with a flying eagle reverse (also known as the Gobrecht design) was struck in minimal numbers from 1836 to 1839.
Then in 1837, the standard weight was lowered to 412 grains and the diameter became 38 mm.
Gobrecht dollar coins had two different specifications applied to them, with only 300 to 1,000 minted in any one year.
These early Gobrecht Liberty Seated silver dollars are very valuable today because of their scarcity.
They were the predecessor of the similarly designed and much more common Liberty Seated dollar from 1840 to 1873.
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