When were the Golden Dollar minted?
Gold dollar
Mint records indicate the first gold dollars were produced on May 7, 1849; Longacre's diary notes state instead that the first were struck on May 8. A few coins in proof condition were struck on the first day, along with about 1,000 for circulation. There are five major varieties of the 1849 gold dollar from Philadelphia, made as Longacre continued to fine-tune the design. Mintmarked dies were sent by Longacre's Engraving Department at the Philadelphia Mint to the branch mints at Charlotte, Dahlonega (in Georgia), and New Orleans; coins struck at the branches resemble some of the types issued from Philadelphia, depending on when the dies were produced. Of the coins struck at the branch mints in 1849, only pieces struck at Charlotte (1849-C) exist in multiple varieties; most are of what is dubbed the "Closed Wreath" variety. Approximately five of the 1849-C Open Wreath are known; one, believed the finest surviving specimen, sold at auction for $690,000 in 2004, remaining a record for the gold dollar series as of 2013. One of the changes made during production was the inclusion of Longacre's initial "L" on the truncation of Liberty's neck, the first time a U.S. coin intended for full-scale production had borne the initial of its designer. All issues beginning in 1850 bear the Closed Wreath. Beginning in 1854, the gold dollar was also struck at the new San Francisco Mint.
1804 dollar
The Coinage Act of 1792, the legislation which provided for the establishment of the Mint of the United States (today the United States Mint), authorized coinage of multiple denominations of gold, silver and copper coins. According to the act, the dollar, or "unit", was to "be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". The act went on to state that the coin would be struck in an alloy consisting of 89.2 percent silver and 10.8 percent copper. The purity and weight standards outlined in the Act were based on the mean of several assays conducted on Spanish milled dollars. However, the dollars were mandated by Spanish law to contain 90.2 percent silver, and most of the unworn examples in circulation in the United States at the time contained approximately more than the silver dollars authorized by the Act. In 1793, President George Washington signed into law a bill which declared Spanish milled dollars legal tender, provided that they weighed no less than , which meant that at the lowest weight allowed by law, the Spanish dollars would contain approximately 0.5 percent less silver than the United States dollar coins. As a result, the United States silver dollars and unworn Spanish dollars were largely forced out of circulation in accordance with Gresham's law; the lighter Spanish dollars were shipped in quantity for circulation in the United States, while the heavier pieces would be turned in to the Philadelphia Mint to be recoined into United States coinage to take advantage of the discrepancy in weight. At that time, silver bullion was supplied to the Mint exclusively by private depositors, who, according to the Coinage Act of 1792, had the right to have their bullion coined free of charge. As large silver coins were a preferred method of commerce throughout the world, especially China, a considerable number of the United States dollars requested by silver depositors were exported to satisfy that demand.
Sacagawea dollar
The United States Senate approved the necessary legislation on November 9, 1997, and the House of Representatives did the same on November 13. On December 1 President Bill Clinton signed the 50 States Commemorative Coin Program Act, which became Public Law 105-124. Section four of the act, which is entitled "United States $1 Coin Act of 1997", provided for a new dollar coin to be struck, stating in part: "The dollar coin shall be golden in color, have a distinctive edge, have tactile and visual features that make the denomination of the coin readily discernible". The act also gave authority to the Secretary of the Treasury to resume production of the Susan B. Anthony dollar until production could begin on the new dollar coin. In total, more than 41 million Susan B. Anthony dollars were struck bearing the date 1999.
Grenadian dollar
Britain adopted the gold standard in 1821 and an imperial order-in-council of 1838 resulted in Grenada formally adopting the sterling currency in the year 1840. However, despite the circulation of British coins in Grenada, the silver pieces of eight continued to circulate alongside them and the private sector continued to use dollar accounts for reckoning. The international silver crisis of 1873 signalled the end of the silver dollar era in the West Indies and silver dollars were demonetized in Grenada in 1878. This left a state of affairs, in which the British coinage circulated, being reckoned in dollar accounts at an automatic conversion rate of 1 dollar = 4 shillings 2 pence.
History of the United States dollar
A United States Note, also known as a Legal Tender Note, was a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for over 100 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks" in their day, a name inherited from the Demand Notes that they replaced in 1862.
Three-dollar piece
The coins saw some circulation in the East and Midwest, at least until 1861, when the economic turmoil caused by the American Civil War caused gold and silver to vanish from commerce there. With gold being hoarded, in December 1861, banks, and subsequently the Treasury, ceased to pay out gold at face value. The three-dollar piece would never return to circulation in the eastern part of the country. On the West Coast, where gold and silver remained in use, the coin continued in commerce, and might be occasionally encountered. The San Francisco Mint issues were most commonly seen there. Despite the failure to circulate, three-dollar pieces continued to be struck at Philadelphia as it was the policy of Mint Director James Pollock that each denomination should be struck every year, whether it circulated or not. Some Philadelphia Mint pieces migrated west in payment for transactions, as only gold and silver was acceptable money on the West Coast. Until the resumption of specie payments at the end of 1878, gold pieces were only available from the Philadelphia Mint by paying a premium in banknotes. Pieces not sold were stored there.
In 1870, a set of dies for the three-dollar piece was sent from the Bureau of the Mint's Engraving Department at the Philadelphia Mint to San Francisco. On May 14, 1870, Oscar Hugh La Grange, superintendent of the San Francisco Mint, sent a telegram to Mint Director Pollock, informing him that dies for the one- and three-dollar pieces had been received, but lacked the customary "S" mint mark, and asking for guidance. The dies were, per Pollock's instructions, returned to Philadelphia, but LaGrange informed Pollock that to secure a three-dollar piece to place in the cornerstone of the new San Francisco Mint building, Coiner J.B. Harmistead had engraved an "S" on the reverse die. It is not certain what became of the piece to be placed in the cornerstone, but Harmistead also struck a piece for himself, which was mounted as jewelry at one time, and the existence of which was not known until 1907. The only unique regular-issue U.S. gold piece by date and mint mark, it last came on the market in 1982, when it sold for $687,500. Today it forms part of the Harry W. Bass, Jr. Collection in the Money Museum of the American Numismatic Association in Colorado Springs. No other three-dollar pieces were struck at San Francisco in 1870; dies were sent there most years between 1861 and 1873, but, with the exception of 1870, were not used.
Gold dollar
A gold dollar coin had been proposed several times in the 1830s and 1840s, but was not initially adopted. Congress was finally galvanized into action by the increased supply of bullion caused by the California gold rush, and in 1849 authorized a gold dollar. In its early years, silver coins were being hoarded or exported, and the gold dollar found a ready place in commerce. Silver again circulated after Congress in 1853 required that new coins of that metal be made lighter, and the gold dollar became a rarity in commerce even before federal coins vanished from circulation because of the economic disruption caused by the American Civil War.
Half dollar (United States coin)
On December 1, 1794, the first half dollars, approximately 5,300 pieces, were delivered. Another 18,000 were produced in January 1795 using dies of 1794, to save the expense of making new ones. Another 30,000 pieces were struck by the end of 1801. The coin had the Heraldic Eagle, based on the Great Seal of the United States on the reverse. 150,000 were minted in 1804 but struck with dies from 1803, so no 1804 specimens exist, though there were some pieces dated 1805 that carried a "5 over 4" overdate.
Dollar coin (United States)
Before the American Revolutionary War, coins from many European nations circulated freely in the American colonies, as did coinage issued by the various colonies. Chief among these was the Spanish silver dollar coins (also called pieces of eight or eight reales) minted in Mexico and other colonies with silver mined from Central and South American mines. These coins, along with others of similar size and value, were in use throughout the colonies, and later the United States, and were legal tender until 1857.
Three-dollar piece
The first three-dollar pieces were 15 proof coins, delivered to the Secretary of the Treasury, James Guthrie, by Mint Director Snowden on April 28, 1854, most likely for distribution to legislators. The Philadelphia Mint then began the largest production of three-dollar pieces the denomination would ever see. Chief Coiner Franklin Peale delivered 23,140 pieces on May 8 and 29,181 pieces four days later. However, after June 8, there was only one further delivery by Peale, on November 10, when the last 22,740 of the mintage of 138,618 were delivered. In addition to the strikings at Philadelphia, there was branch mint production, with 24,000 pieces struck at the New Orleans Mint (1854-O) and 1,120 at Dahlonega (1854-D). A pair of dies was sent from Philadelphia to the Charlotte Mint on June 1, but they were not used. A pair was sent to Dahlonega the same day, arriving on June 10, with gauges and other necessary equipment following on July 15. The coinage of the 1854-D took place in August; the piece is today a rarity as few were put aside and it was not until decades later that mintmarked coins were saved as distinct varieties. Dies were sent to New Orleans in 1855, 1856, 1859, and 1861, only to remain unused; no further strikings took place at any of the three southern branch mints.
Beginning in 1855, the letters of the word "Dollars" were enlarged, following complaints from the public. The same year, coinage began at the San Francisco Mint, where 6,600 were struck as opposed to 50,555 at Philadelphia. Mintages at Philadelphia declined for the remainder of the decade, to 7,036 by 1860; pieces were also struck at San Francisco in 1856, 1857, and 1860. In 1859, early numismatic writer Montroville W. Dickeson wrote of the three-dollar piece, "it is very unpopular, being frequently mistaken for a quarter eagle, and often counted as a five-dollar piece. It is exceedingly annoying to that portion of the human family whose vision is dependent on artificial aid, and we think its retirement would meet with public approbation." Perhaps a dozen contemporary numismatists collected three-dollar pieces; those who were serious ordered proof coins from the Mint. Coins in this condition became easier to obtain from Philadelphia as officials responded to the rise in interest in coin collecting which followed the introduction of the Flying Eagle cent in 1857.
Peace dollar
On August 3, 1964, Congress passed legislation providing for the striking of 45,000,000 silver dollars. Silver coins, including the dollar, had become scarce due to hoarding as the price of silver rose past the point at which a silver dollar was worth more as bullion than as currency. The new coins were intended to be used at Nevada casinos and elsewhere in the West where "hard money" was popular. Many in the numismatic press complained that the new silver dollars would only satisfy a small special interest, and would do nothing to alleviate the general coin shortage. Much of the pressure for the coins to be struck was being applied by the Senate Majority Leader, Mike Mansfield (Democrat–Montana), who represented a state that heavily used silver dollars. Preparations for the striking proceeded at a reluctant Mint Bureau. Some working dies had survived Sinnock's 1937 destruction order, but were found to be in poor condition, and Mint Assistant Engraver (later Chief Engraver) Frank Gasparro was authorized to produce new ones. Mint officials had also considered using the Morgan Dollar design; this idea was dropped and Gasparro replicated the Peace dollar dies. The reverse dies all bore Denver mintmarks; as the coins were slated for circulation in the West, it was deemed logical to strike them nearby.
Flowing Hair dollar
On October 16, 1794, after receiving a silver dollar from David Rittenhouse, Secretary of State Edmund Randolph forwarded the dollar coin to President Washington for his inspection. In an attempt to help circulate the coins, Rittenhouse spent many of the new coins and traded them for foreign coins to market the new products of the Mint. Others were distributed to VIPs and distinguished visitors to the Mint. After the initial production, Rittenhouse ordered all dollar coin production to end until Mint personnel could build a more powerful press that would be capable of better striking the coins. The Columbian Centinel (Boston, MA) first wrote an article about the new dollar coins on November 26, 1794: Some of the new dollars now coining at the Mint of the United States have found their way to this town. A correspondent put one in into the editor's hands yesterday. Its weight is equal to that of a Spanish dollar, but the metal appears finer ... The "tout ensemble" (entire design) has a pleasing effect to a connoisseur, but the touches of the [en]graver are too delicate, and there is a want of that boldness of execution which is necessary to durability and currency
Numismatic history of the United States
In 1878, the first Morgan Silver Dollars were minted; this series lasted until 1904 and was revived for several months in 1921.
Dollar coin (United States)
Morgan silver dollars, all composed of 90% silver and 10% copper (slightly less silver than sterling silver), were struck between 1878 and 1904, with a final minting in 1921. The 1921-dated coins are the most common, and there exists a substantial collector market for pristine, uncirculated specimens of the rarer dates and mint marks. Morgan dollars are second only to Lincoln Cents in collector popularity. The coin is named after George T. Morgan, its designer. Morgan dollars were minted at Philadelphia (no mint mark), New Orleans ("O" mint mark), San Francisco ("S" mint mark), Carson City ("CC" mint mark), and (in 1921 only) Denver ("D" mint mark). The mint mark is found on the reverse below the wreath, above the "O" in "DOLLAR".
United States dollar
The United States Mint produces Proof Sets specifically for collectors and speculators. "Silver Proofs" tend to be the standard designs but with the dime, quarter, and half dollar containing 90% silver. Starting in 1983 and ending in 1997, the Mint also produced proof sets containing the year's commemorative coins alongside the regular coins. Another type of proof set is the Presidential Dollar Proof Set where four special $1 coins are minted each year featuring a president. Because of budget constraints and increasing stockpiles of these relatively unpopular coins, the production of new Presidential dollar coins for circulation was suspended on December 13, 2011, by U.S. Treasury Secretary Timothy F. Geithner. Future minting of such coins will be made solely for collectors.The first United States dollar was minted in 1794. Known as the Flowing Hair Dollar, contained 416 grains of "standard silver" (89.25% silver and 10.75% copper), as specified by Section 13 of the Coinage Act of 1792. It was designated by Section 9 of that Act as having "the value of a Spanish milled dollar".
Banknotes of the United States dollar
Gold certificates were issued from 1865 through 1934 and were redeemable in gold coin. Following the 1933 ban on gold ownership in the United States, they were recalled to be redeemed for United States Notes. They were issued in large size through 1929 and in small size thereafter. They were originally issued in denominations of $20, $100, $500, $1,000, $5,000 and $10,000. A $50 note was added in 1882, followed by a $10 note in 1907. A $100,000 note which was used only for inter-bank transactions was also issued in 1934 but never made available to the general public. It is still illegal to own.
Numismatic history of the United States
In 1849, in the wake of the California Gold Rush, the Double Eagle, or $20 gold denomination was added This coin contains nearly a pure ounce of gold and were minted in large quantities; many still exist today and are used as bullion coins and command only a modest premium over spot price, though many dates are rare as well. The Liberty Head Double Eagle was minted up to 1907.
Coins of the United States dollar
Modern commemoratives have been minted since 1982. An incomplete list is available here.Note: It is a common misconception that "eagle"-based nomenclature for gold U.S. coinage was merely slang. The "eagle," "half-eagle" and "quarter-eagle" were specifically given these names in the Coinage Act of 1792. Likewise, the double eagle was specifically created as such by name ("An Act to authorize the Coinage of Gold Dollars and Double Eagles", title and section 1, March 3, 1849).
Seated Liberty dollar
Following the discovery of gold in California, a large amount of gold coins began appearing in American commercial channels. The influx caused the price of gold relative to silver to decrease, making silver coins worth more as bullion than as currency. They were exported abroad, or else melted locally for their bullion value. As it was profitable to export silver, little was presented at the Mint, which resulted in low mintage numbers for the silver dollar; 1,300 and 1,100 were struck in 1851 and 1852 respectively. The rarity of these dates was recognized by the late 1850s; Mint employees made surreptitious restrikes to sell to collectors.
Milled coinage
When Spain introduced coinage to America in 1536, coins were still hammered. The fineness of the silver in this coinage was reduced in 1732 and the Mexico City mint began striking the new coins using machinery. Other Spanish American mints followed and their thaler size silver coins are widely known as Spanish Milled Dollars.
The Spanish Milled Dollar, and its successor the Mexican Peso, were widely used in trade with the Orient, where coins were previously cast. In what is now Vietnam, emperor Minh Mạng introduced a coin based on the Spanish Milled Dollar in 1832. The subsequent French rulers of the area had a coinage based on the Spanish Milled Dollar struck at the Paris mint. Commodore Perry opened Japan to foreign trade, which was mostly paid for in Mexican pesos, in 1853. In 1870, two years after the "shōgun" rulers were overthrown, the restored emperors built a mint at Osaka and imported minting machinery from Birmingham, England for it. Likewise, Spanish Milled Dollars and Mexican pesos became the primary currency used for trade in large parts of southern China during the mid 1800s. China struck similar coins for Turkestan in 1877, and for its own use in 1890.
Coinage Act of 1873
The Mint Act of 1792 established the Mint of the United States. The Mint, in its first decades, only coined gold and silver in response to deposits of that metal by citizens, returning the bullion to the depositor in the form of coins. Either gold or silver could be presented for conversion into currency, as both metals were a legal tender, a dollar was equal to both a legally defined weight of silver, and another legally defined quantity of gold. Having a currency be defined in terms of two different metals is called bimetallism. Such a system may experience instability as the price of gold and silver on the world market changes, and this took place in the first decades after 1792, as the relative values of gold and silver in Europe changed. At that time, gold or silver U.S. coins were rarely seen in the nation, as they were heavily exported because of such shifts—most pieces in circulation were foreign in origin.
1804 dollar
The 1804 dollar or Bowed Liberty Dollar was a dollar coin struck by the Mint of the United States, of which fifteen specimens are currently known to exist. Though dated 1804, none were struck in that year; all were minted in the 1830s or later. They were first created for use in special proof coin sets used as diplomatic gifts during Edmund Roberts' trips to Siam and Muscat.
Peace dollar
The Peace dollar was released into circulation on January 3, 1922. In common with all silver and copper-nickel dollar coins struck from 1840 to 1978, the Peace dollar had a diameter of , which was larger than the Mint's subsequently struck modern dollar coins. Its issuance completed the redesign of United States coinage that had begun with issues in 1907. Long lines formed at the Sub-Treasury Building in New York the following day when that city's Federal Reserve Bank received a shipment; the 75,000 coins initially sent by the Mint were "practically exhausted" by the end of the day. Rumors that the coins did not stack well were contradicted by bank cashiers, who demonstrated for "The New York Times" that the coins stacked about as well as the Morgan dollars. De Francisci had paid Morgan for 50 of the new dollars; on January 3, Morgan sent him the pieces. According to his wife, de Francisci had bet several people that he would lose the design competition; he used the pieces to pay off the bets and did not keep any.
Dollar coin (United States)
The gold dollar was produced from 1849 to 1889. 1849 to 1853 gold dollar coins were 13 mm across and are called Type I. Type II gold dollars were thinner but larger at 15 mm diameter and were produced from 1854 to 1855. The most common gold dollar are the Type III and started in 1856 until 1889. Production US $1 gold dollars was high until the Civil War and by 1863, only the larger value gold coins were produced in large quantities. Most gold coins produced from 1863 and onward were produced for imports to pay for enormous amounts of war material and interest on some U.S. Government bonds. Many of these coins from the Civil War and after (silver coins included) are in excellent condition since they saw very limited circulation with greenbacks and postage currency taking their place.
Flowing Hair dollar
In 1791, following a study by Alexander Hamilton, Congress passed a joint resolution calling for the establishment of a national mint. Later that year, in his third State of the Union address, President George Washington urged Congress to provide for a mint, which was officially authorized by the Coinage Act of 1792. Despite the authorization, silver and gold coins were not struck until 1794. The Flowing Hair dollar, designed by Robert Scot, was initially produced in 1794, and again in 1795. In October 1795 the design was replaced by the Draped Bust dollar.
Gold dollar
The continued flow of gold from California made silver expensive in terms of gold, and U.S. silver coins began to flow out of the country for melting in 1849, a flow that accelerated over the next several years as the price of the metal continued to rise. By 1853, a thousand dollars in silver coin contained $1,042 worth of bullion. As silver coins vanished, the gold dollar became the only federal coin in circulation between the cent and the quarter eagle ($2.50 piece). As such, it was struck in large numbers and widely circulated. According to Bowers in his book on the denomination, "the years 1850 to 1853 were the high-water mark of the gold dollar, the glory years of the denomination when the little gold coins took the place of half dollars and silver dollars in everyday transactions." This time came to an end in 1853 when Congress passed an act reducing the weight of most silver coins, allowing new issues of them to circulate.
History of the United States dollar
The history of the United States Dollar refers to more than 240 years since the Continental Congress of the United States authorized the issuance of Continental Currency in 1775. On April 2, 1792, the United States Congress created the United States dollar as the country's standard unit of money. The term "dollar" had already been in common usage since the colonial period when it referred to eight-real coin (Spanish dollar) used by the Spanish throughout New Spain.
History of the United States dollar
Eventually, the United States chose to devalue the dollar. During the early 1960s American officials largely prevented the conversion of dollars to gold with a series of "gentlemanly" agreements and other policies – which included the London Gold Pool - but these actions were not sustainable; the danger of a run on U.S. gold reserves was too high. With Nixon's election in 1968, American officials became increasingly concerned until Nixon finally issued Executive Order 11615 in August 1971, ending the direct convertibility of dollars to gold. He said, "We must protect the position of the American dollar as pillar of monetary stability around the world ... I am determined that the American dollar must never again be hostage in the hands of the international speculators." This became known as the Nixon Shock and marked the dollar's transition from the gold standard to a fiat currency.
Mexican Mint
The Mexican Mint was established in 1535 by the Spanish viceroy Antonio de Mendoza by a decree from the Spanish Crown to create the first mint in the Americas. The mint's silver eight-real coins and its successor coin, the silver peso, circulated widely in the Americas and Asia well into the 19th century and became the basis of the modern national currencies of many countries in these parts of the world, including the United States dollar, the Japanese yen and the Chinese yuan .
Seated Liberty dollar
Following a series of trial strikes and modifications through 1836, the first of what would come to be known as the Gobrecht dollars were minted in December of that year. The dollars of 1836 were minted with a silver fineness of .892 (89.2%) silver, a specification set forth in the 1792 act. The mandated fineness of US silver coins was changed from .892 to .900 (90%) by the Coinage Act of 1837, passed on January 18, 1837; subsequent Gobrecht dollars were struck in .900 silver. Beginning in 1837, an adaptation of the obverse of the Gobrecht dollar, depicting a seated Liberty, was used on the smaller silver coins (from half dime to half dollar), with Gobrecht's modification of Reich's heraldic eagle on the reverse of the quarter and half dollar. Except on the half dime, abolished in 1873, the designs would remain on those coins for over 50 years.
Half dollar (United States coin)
By the early 1960s, the rising price of silver neared the point where the bullion value of U.S. silver coins would exceed face value. In 1965, the U.S. introduced layered-composition coins made of a copper core laminated between two cupronickel outer faces. The silver content of dimes and quarters was eliminated, but the Kennedy half-dollar composition contained silver (reduced from 90% to 40%) from 1965 to 1970. Even with its reduced silver content, the half dollar attracted widespread interest from speculators and collectors, and that interest led to widespread hoarding of half dollars dated 1970 and earlier. By the time that the coin's composition was changed to match that of the clad dimes and quarters in 1971, businesses and the public began losing interest in the half dollar and the coin began to gradually disappear from circulation during the 1970s. Merchants stopped ordering half dollars from their banks, and many banks stopped ordering half dollars from the Federal Reserve, and the U.S. mints sharply reduced production of the coins.
Mexican peso
The 18th and 19th century Spanish dollar and Mexican peso were widely used in the early United States. On July 6, 1785, the value of the United States dollar was set by decree to approximately match the Spanish dollar. Both were based on the silver content of the coins.
The first U.S. dollar coins were not issued until April 2, 1792, and the peso continued to be officially recognized and used in the United States, along with other foreign coins, until February 21, 1857. In Canada, it remained legal tender, along with other foreign silver coins, until 1854 and continued to circulate beyond that date. The Mexican peso also served as the model for the Straits dollar (now the Singapore/Brunei Dollar), the Hong Kong dollar, the Japanese yen and the Chinese yuan. The term Chinese yuan refers to the round Spanish dollars, Mexican pesos and other 8 reales silver coins which saw use in China during the 19th and 20th century. The Mexican peso was also briefly legal tender in 19th century Siam, when government mints were unable to accommodate a sudden influx of foreign traders, and was exchanged at a rate of three pesos to one Thai baht.
Hong Kong dollar
In 1863, 1-mil (-cent), 1-cent and 10-cent coins were introduced, followed in 1866 by 5- and 20- cents, half-dollar and 1-dollar. The 1-mil and 1-cent were struck in bronze, with the 1 mil a holed coin. The remaining coins were struck in silver. Production of the 1-mil ended in 1866, whilst that of the half-dollar and 1-dollar ceased in 1868, with only the half-dollar (now with the denomination given as 50 cents) resuming production in 1890. Production of all silver coins was suspended in 1905, only briefly resumed in 1932 and 1933 for the production of 5-cent coins.
American Silver Eagle
It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce size, which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver. It is authorized by and codified as (e)-(h). Its content, weight, and purity are certified by the United States Mint. In addition to the bullion version, the United States Mint has produced a proof version and an uncirculated version for coin collectors. The Silver Eagle has been produced at three mints: the Philadelphia Mint, the San Francisco Mint, and the West Point Mint. The American Silver Eagle bullion coin may be used to fund Individual Retirement Account investments.
Banknotes of the United States dollar
National Gold Bank Notes were issued by private banks, mostly from California. The concept is similar to that of the National Bank Notes, the difference being that National Gold Bank Notes were redeemable in gold. They were issued from 1870-1875 in denominations of $5, $10, $20, $50, $100 and $500. They are all rare with the $5 being by far the most common, with 427 examples known, and the $50 the rarest, with only 7 examples known. The $500 note is not known to exist.
Lafayette dollar
The Lafayette dollar was a silver coin issued as part of the United States' participation in the Paris World's Fair of 1900. Depicting Gilbert du Motier, Marquis de Lafayette with George Washington, and designed by Chief Engraver Charles E. Barber, it was the only U.S. silver dollar commemorative prior to 1983, and the first U.S. coin to depict American citizens.
Platinum Koala
On 18 June 1987, the Australian Government approved the minting of platinum and silver coins. This decision was made based on the success of gold coins issued a year earlier. The minting of the coin began in September 1988 in Perth. For marketing purposes, 2 ounce, 10 ounce and 1 kilogram coins of silver, gold and platinum were introduced in 1991; the 1 kg coins were the world's heaviest bullion coins at the time. Together with the American Platinum Eagle, the Platinum Koala is one of the very few series of platinum coins which are still being produced. Minting of 1/10 and 1/2 oz 2010 coins has been announced and will not exceed 2,500 and 1000 pieces, respectively. However, it will be enriched with the new 1/10 and 1/2 oz animal-related platinum coins depicting platypus, frill-necked lizard, saltwater crocodile, wombat, echidna, brolga, dolphin and kangaroo. All these coins have coloured backgrounds.
Three-cent silver
Bullion from the California Gold Rush and other discoveries came to the Eastern U.S. in considerable quantities beginning in 1848. By the following year, the price of gold relative to silver had dropped, making it profitable to export American silver coins, sell them as bullion, and use the payment in gold to buy more U.S. coins. Silver coins consequently vanished from circulation, meaning the highest-value American coin actually circulating that was worth less than the quarter eagle ($2.50 piece) was the half-dollar-sized copper cent, which saw no use in much of the country because of its lack of legal tender status. Early in 1849, Congress authorized a gold dollar to help bridge the gap. Spanish silver coins were the bulk of what was left in commerce for small change, although there was disagreement as to the value to be assigned to them. Additionally, they were often heavily worn, reducing their intrinsic worth at a time when Americans expected coins to contain metal worth the value assigned to them.
Half dime
The half dime was one of the early coins of the U.S. Mint. Authorized by the Act of April 2, 1792, it lasted until 1873. Until 1829 it showed no value anywhere on its obverse or reverse.
The flowing hair half dime was designed by Robert Scot and this same design was also used for half dollar and dollar silver coins minted during the same period. The obverse bears a Liberty portrait similar to that appearing on the 1794 half cent and cent but without the liberty cap and pole. Mintage of the 1794 version was 7,765 while 78,660 of the 1795 version were produced.
The obverse of the draped bust half dime was based on a sketch by artist Gilbert Stuart, with the dies engraved by Robert Scot and John Eckstein. The primary 1796 variety bears fifteen stars representing the then number of states in the union. In 1797, fifteen and sixteen star varieties were produced – the sixteenth star representing newly admitted Tennessee – as well as a thirteen star variety after the mint realized that it could not continue to add more stars as additional states joined the union. The reverse bears an open wreath surrounding a small eagle perched on a cloud. 54,757 half dimes of this design were minted.
Following a two-year hiatus, mintage of half dimes resumed in 1800. The obverse remained essentially the same as the prior version, but the reverse was revised substantially. The eagle on the reverse now had outstretched wings, heraldic style. This reverse design first appeared on gold quarter and half eagles and then dimes and dollars in the 1790s. Mintage of the series never surpassed 40,000, with none produced in 1804. No denomination or mintmark appears on the coins; all were minted in Philadelphia.
Production of half dimes resumed in 1829 based on a new design by Chief Engraver William Kneass, who is believed to have adapted an earlier John Reich design. All coins were minted at Philadelphia and display no mintmark. The high circulating mintage in the series was in 1835, when 2,760,000 were struck, and the low of 871,000 was in 1837. Both Capped Bust and Liberty Seated half dimes were minted in 1837.
These were the last silver half dimes produced. The design features Liberty seated on a rock and holding a shield and was first conceived in 1835 used first on the silver dollar patterns of 1836. The series is divided into several subtypes. The first was struck at Philadelphia in 1837 and New Orleans in 1838 and lacks stars on the obverse. In 1838 a semicircle of 13 stars was added around the obverse border, and this basic design was used through 1859. In 1853, small arrows were added to each side of the date to reflect a reduction in weight due to rising silver prices, and the arrows remained in place through 1855. The arrows were dropped in 1856, with the earlier design resumed through 1859. In 1860, the obverse stars were replaced with the inscription UNITED STATES OF AMERICA and the reverse wreath was enlarged. This design stayed in place through the end of the series. In 1978 a unique 1870-S Seated Liberty half dime became known. The Seated Liberty half dime was produced at the Philadelphia, San Francisco and New Orleans mints in an aggregate amount of 84,828,478 coins struck for circulation.
In 1978 a coin collector surprised the coin collecting community with an 1870–S (San Francisco) half dime, believed to have been found in a dealer's box of cheap coins at a coin show. According to mint records for 1870, no half dimes had been minted in San Francisco; yet it was a genuine 1870-S half dime. At an auction later that same year, the 1870-S half dime sold for $425,000. It is believed that another example may exist—along with other denominations minted that year in San Francisco—in the cornerstone of the old San Francisco Mint. Later in July, 2004, the discovery coin sold for $661,250 in MS-63 in a Stack`s-Bowers auction.
Banknotes of the United States dollar
They were first issued in 1914, different from the Federal Reserve Bank Notes in that they were liabilities of the whole Federal Reserve System. They were redeemable in gold until 1933. After that date they stopped to be redeemable in anything, much like United States Notes (which later led to the halting of the production of United States Notes). They switched to small size in 1929 and are the only type of currency in circulation today in the United States. They were originally printed in denominations of $5, $10, $20, $50, $100, $500, $1,000, $5,000 and $10,000. The $500, $1,000, $5,000 and $10,000 denominations were last printed in 1945 and discontinued in 1969, making the $100 bill the largest denomination banknote in circulation. A $1 note was added in 1963 to replace the $1 Silver Certificate after that type of currency had been discontinued. Since United States Notes were discontinued in 1971, Federal Reserve Notes are the only type of currency circulating in the US. In 1976, a $2 note was added, 10 years after the $2 denomination of United States Note was officially discontinued. The denomination proved to be unpopular and is now treated as a curiosity, although it is still being printed. Starting 1996, all notes except $1 and $2 were redesigned to have a larger portrait of the people depicted on them. Since 2004, all notes (except $1 and $2) were progressively changed to have different colors to make them more easily distinguishable from each other, until the last such note was introduced in 2013 (the $100).
Gold dollar
In 1831, the first gold dollar was minted, at the private mint of Christopher Bechtler in North Carolina. Much of the gold then being produced in the United States came from the mountains of North Carolina and Georgia, and the dollars and other small gold coins issued by Bechtler circulated through that region, and were now and then seen further away. Additional one-dollar pieces were struck by August Bechtler, Christopher's son.
Gold dollar
Gold did not again circulate in most of the nation until 1879; once it did, the gold dollar did not regain its place. In its final years, it was struck in small numbers, causing speculation by hoarders. It was also in demand to be mounted in jewelry. The regular issue gold dollar was last struck in 1889; the following year, Congress ended the series.
United States dollar
Official United States coins have been produced every year from 1792 to the present.
Discontinued coin denominations include:Collector coins for which everyday transactions are non-existent.Technically, all these coins are still legal tender at face value, though some are far more valuable today for their numismatic value, and for gold and silver coins, their precious metal value. From 1965 to 1970 the Kennedy half dollar was the only "circulating" coin with any silver content, which was removed in 1971 and replaced with cupronickel. However, since 1992, the U.S. Mint has produced special Silver Proof Sets in addition to the regular yearly proof sets with silver dimes, quarters, and half dollars in place of the standard copper-nickel versions.
In addition, an experimental $4.00 (Stella) coin was also minted in 1879, but never placed into circulation, and is properly considered to be a pattern rather than an actual coin denomination.
Numismatic history of the United States
The Peace Dollar was minted from 1921 to 1935. After 1935, no more silver dollars would be minted for circulation by the US Mint. 90% silver dimes, quarters and half dollars were replaced with copper-nickel coins after 1964. From 1965 to 1976, 40% silver coins were issued in certain denominations. Of these, only the 1965 to 1969 dated Kennedy Half Dollars were minted for general circulation. No precious metals were present in any coins issued after 1977 by the US Mint until the bullion and commemorative series that began in the 1980s and continue to the present day.
Lewis and Clark Exposition dollar
The Lewis and Clark Exposition dollar is a commemorative gold coin that was struck in 1904 and 1905 as part of the United States Government's participation in the Lewis and Clark Centennial Exposition, held in the latter year in Portland, Oregon. Designed by United States Bureau of the Mint Chief Engraver Charles E. Barber, the coin did not sell well and less than a tenth of the authorized mintage of 250,000 was issued.
History of the United States dollar
In the early 19th century, gold rose in relation to silver, resulting in the removal from commerce of nearly all gold coins, and their subsequent melting. Therefore, in the Coinage Act of 1834, the 15:1 ratio of silver to gold was changed to a 16:1 ratio by reducing the weight of the nation's gold coinage. This created a new U.S. dollar that was backed by 1.50 g (23.22 grains) of gold. However, the previous dollar had been represented by 1.60 g (24.75 grains) of gold. The result of this revaluation, which was the first devaluation of the U.S. dollar, was that the value in gold of the dollar was reduced by 6%. Moreover, for a time, both gold and silver coins were useful in commerce.
Coinage Act of 1965
The Coinage Act of 1792 established the Mint of the United States, and made both gold and silver legal tender. This meant that anyone could present bullion at the Philadelphia Mint and receive it back, struck into coins. The 1792 act authorized six silver coins, in value from five cents to a dollar, and prescribed their weights and fineness. Making a dollar equal to given quantities of both gold and silver made the currency vulnerable to variations in the price of precious metals, and U.S. coins flowed overseas for melting until adjustments were made to their size and weight in 1834 and again with the Coinage Act of 1853, when the amount of bullion in the silver coins worth less than a dollar was reduced. The fact that the dime (ten-cent piece), quarter dollar, and other smaller silver coins contained less silver in proportion to the dollar helped keep them in circulation.
Kennedy half dollar
In 1971, when silver was eliminated entirely from the coins and production increased, the series began to see improved, but still limited circulation. A special design for the reverse of the half dollar was issued for the United States Bicentennial and was struck in 1975 and 1976. In addition to business strikes, special collector coins were struck for the Bicentennial in silver clad; silver proof sets in which the dime, quarter and half dollar were struck in 90% silver were first minted in 1992. In 2014 a special edition of the Kennedy half dollar was also struck in 99.99% gold.
Confederate States dollar
The Confederate dollar, often called a "Greyback", was first issued into circulation in April 1861, when the Confederacy was only two months old, and on the eve of the outbreak of the Civil War.
United States dollar
From 1792, when the Mint Act was passed, the dollar was defined as 371.25 grains (24.056 g) of silver. The gold coins that were minted were not given any denomination and traded for a market value relative to the Congressional standard of the silver dollar. 1834 saw a shift in the gold standard to , followed by a slight adjustment to in 1837 (16:1 ratio).
Fixed exchange-rate system
The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852 and Canada in 1853. Under this system, the external value of all currencies was denominated in terms of gold with central banks ready to buy and sell unlimited quantities of gold at the fixed price. Each central bank maintained gold reserves as their official reserve asset. For example, during the “classical” gold standard period (1879–1914), the U.S. dollar was defined as 0.048 troy oz. of pure gold.
United States dollar
Unlike the Spanish milled dollar, the U.S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act officially established monetary units of "mill" or one-thousandth of a dollar (symbol ₥), "cent" or one-hundredth of a dollar (symbol ¢), "dime" or one-tenth of a dollar, and "eagle" or ten dollars, with prescribed weights and composition of gold, silver, or copper for each. It was proposed in the mid-1800s that one hundred dollars be known as a "union", but no union coins were ever struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar; "dime" is used solely as the name of the coin with the value of 10¢, while "eagle" and "mill" are largely unknown to the general public, though mills are sometimes used in matters of tax levies, and gasoline prices are usually in the form of $X.XX9 per gallon, e.g., $3.599, more commonly written as $3.59. When currently issued in circulating form, denominations equal to or less than a dollar are emitted as U.S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes (with the exception of gold, silver, platinum and palladium coins valued up to $100 as legal tender, but worth far more as bullion). Both one-dollar coins and notes are produced today, although the note form is significantly more common. In the past, "paper money" was occasionally issued in denominations less than a dollar (fractional currency) and gold coins were issued for circulation up to the value of $20 (known as the "double eagle", discontinued in the 1930s). The term "eagle" was used in the Coinage Act of 1792 for the denomination of ten dollars, and subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was also sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie, then Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", and "Quarter Union", thus implying a denomination of 1 Union = $100.
United States Bicentennial coinage
The first Bicentennial coins to be produced that were intended for the public were dollars, struck during February 1975. The first for collectors were struck at San Francisco on April 23, 1975. The San Francisco Assay Office struck the 45,000,000 silver coins first, producing eleven million sets in uncirculated and four million in proof, then began the base metal pieces. Once striking began, the Mint found that the copper nickel dollar was striking indistinctly, a problem not seen with the silver pieces. The Mint modified the dies; the most noticeable change is that the revised issue, or Type II as it came to be known, have narrower, sharper lettering on the reverse. All silver pieces (struck only at San Francisco) are Type I; all three mints struck both Type I and Type II copper nickel pieces. All dollars included in 1975 proof sets are Type I; all those included in 1976 proof sets are Type II. Bicentennial coins for collectors were not delivered until after July 4, 1975. The Bicentennial pieces, in base metal, were included in 1975 proof sets and mint sets together with 1975-dated cents, nickels and dimes.
Gold dollar
Even before 1848, record amounts of gold were flowing to American mints to be struck into coin, but the California Gold Rush vastly increased these quantities. This renewed calls for a gold dollar, as well as for a higher denomination than the eagle ($10 piece), then the largest gold coin. In January 1849, McKay introduced a bill for a gold dollar, which was referred to his committee. There was much discussion in the press about the proposed coin; one newspaper published a proposal for an annular gold dollar; that is, with a hole in the middle to increase its small diameter. McKay amended his legislation to provide for a double eagle ($20 gold coin) and wrote to Patterson, who replied stating that the annular gold dollar would not work, and neither would another proposal to have dollar piece consisting of a gold plug in a silver coin. Nevertheless, Gobrecht's successor as chief engraver, James B. Longacre, prepared patterns, including some with a square hole in the middle.
History of the United States dollar
The discovery of large silver deposits in the Western United States in the late 19th century created a political controversy. Due to the large influx of silver, the value of silver in the nation's coinage dropped precipitously. On one side were agrarian interests such as the United States Greenback Party that wanted to retain the bimetallic standard in order to inflate the dollar, which would allow farmers to more easily repay their debts. On the other side were Eastern banking and commercial interests, who advocated sound money and a switch to the gold standard. This issue split the Democratic Party in 1896. It led to the famous "cross of gold" speech given by William Jennings Bryan, and may have inspired many of the themes in "The Wizard of Oz". Despite the controversy, the status of silver was slowly diminished through a series of legislative changes from 1873 to 1900, when a gold standard was formally adopted. The gold standard survived, with several modifications, until 1971.
Voyageur dollar
The issue was generally considered a success, and beginning in 1936, the silver dollar (in .800 fine silver) was struck more-or-less annually as a regular issue for general circulation, with the same reverse design as in 1935. Although commemorative dollars were struck for circulation for the visit of King George VI in 1939, no regular issue dollars were struck that year, or, as it turned out, until the end of World War II in 1945. Thereafter, Voyageur Dollars were struck each year through 1966, except in years (e.g. 1935, 1939, 1958, and 1964 ) when a commemorative dollar was struck for circulation. In 1967, a special "flying goose" design was struck for the Canadian Centennial.
Dollar (Hong Kong coin)
It was first issued in 1866 as a silver coin of a diameter of 38 mm, a mass of 26.96 grams and a thickness of 2.80 mm. This issue lasted only three years with a reported mintage of 2,109,000 coins in total; separate statistics of each year's mintage are unavailable.
Dollar coin (United States)
Introduced in December 1921 and having the same ratio of silver-to-copper as the Morgan dollar, the Peace dollar, designed by medalist Anthony de Francisci, was promulgated to commemorate the signing of formal peace treaties between the Allied forces and Germany and Austria. These treaties officially ended the Allies' World War I hostilities with these two countries. In 1922 the Mint made silver dollar production its top priority, causing other denominations to be produced sparingly if at all that year. Production ceased temporarily after 1928; original plans apparently called for only a one-year suspension, but this was extended by the Great Depression. Mintage resumed in 1934, but for only two years.
United States dollar
The American dollar coin was initially based on the value and look of the Spanish dollar or "piece of eight", used widely in Spanish America from the 16th to the 19th centuries. The first dollar coins issued by the United States Mint (founded 1792) were similar in size and composition to the Spanish dollar, minted in Mexico and Peru. The Spanish, U.S. silver dollars, and later, Mexican silver pesos circulated side by side in the United States, and the Spanish dollar and Mexican peso remained legal tender until the Coinage Act of 1857. The coinage of various English colonies also circulated. The lion dollar was popular in the Dutch New Netherland Colony (New York), but the lion dollar also circulated throughout the English colonies during the 17th century and early 18th century. Examples circulating in the colonies were usually worn so that the design was not fully distinguishable, thus they were sometimes referred to as "dog dollars".
Louisiana Purchase Exposition dollar
In December 1902, the Philadelphia Mint struck 75,080 gold dollars. These were dated 1903, a violation of normal Mint practice to have the date of striking on the coin. This was not unprecedented; the 1900-dated Lafayette dollar had been struck in December 1899. It is not known which gold dollar was first struck. In January 1903, an additional 175,178 pieces were coined; the excess of 258 over the authorized mintage was set aside for testing by the annual Assay Commission. There is no difference between those pieces struck in 1902 and those minted in 1903. Fifty thousand pieces were sent to the St. Louis sub-treasury on December 22, 1902, to await the organizing committee's compliance with other parts of the law, most likely relating to the required posting of a bond.
Gold dollar
James Pollock, in his final report as Mint Director in 1873, advocated limiting striking of gold dollars to depositors who specifically requested it. "The gold dollar is not a convenient coin, on account of its small size, and it suffers more proportionately from abrasion than larger coins." His successors called for its abolition, with James P. Kimball, before he left office in 1889, writing to Congress that except as jewelry, "little practical use has been found for this coin". Later that year, the new director, Edward O. Leech, issued a report stating that the gold dollar "is too small for circulation, and ... [is] used almost exclusively for the purposes of ornament. The last year in which the gold dollar was struck was 1889. Congress abolished the gold dollar, along with the three-cent nickel and three-dollar piece, by the Act of September 26, 1890.
Seated Liberty dollar
The Seated Liberty dollar was a dollar coin struck by the United States Mint from 1840 to 1873 and designed by its chief engraver, Christian Gobrecht. It was the last silver coin of that denomination to be struck before passage of the Coinage Act of 1873, which temporarily ended production of the silver dollar for American commerce. The coin's obverse is based on that of the Gobrecht dollar, which had been minted experimentally from 1836 to 1839. However, the soaring eagle used on the reverse of the Gobrecht dollar was not used; instead, the United States Mint (Mint) used a heraldic eagle, based on a design by late Mint Chief Engraver John Reich first utilized on coins in 1807.
Trade dollar
2,736,000 coins of this type were minted, the vast majority in 1876-77. When Japan introduced the gold standard in 1897, the silver 1 yen coins, including the trade dollars, were demonetized. The majority of the trade dollars were counterstamped with the character "gin" (Japanese for "silver"). The Osaka mint placed the mark on the left side of the reverse, the Tokyo mint on the right. The coins were then released for use in Japanese-occupied Taiwan, Korea and Lüshunkou.
Sacagawea dollar
After her obverse design was approved, Goodacre visited the Philadelphia Mint engraving department six times in order to finalize the designs. Rogers' reverse design was also modified before production began. In his original proposal, mountainous scenery was depicted beneath the flying eagle; this was removed and the positions of other reverse design features were altered before Rubin gave final approval. The composition selected for the new coin included a cladding of manganese brass (containing about 77% copper, 12% zinc, 7% manganese, and 4% nickel) over a pure copper core. This composition was chosen because it would give the coin a distinctive golden color while being electromagnetically identical to its predecessor, the copper-nickel Susan B. Anthony dollar. The first official striking of the Sacagawea dollar took place on November 18, 1999, during a ceremony in which dignitaries and other invited guests each struck individual examples of the coins. Because the coins were struck before 2000, it was not legal to release them during the first strike ceremonies. Instead, the coins were saved and later sent to the dignitaries who struck them. Full-scale production began shortly after the ceremonial strikings.
Draped Bust dollar
In 1834, silver dollar production was temporarily restarted to supply a diplomatic mission to Asia with a special set of proof coins. Officials mistakenly believed that dollars had last been minted with the date 1804, prompting them to use that date rather than the date in which the coins were actually struck. A limited number of 1804 dollars were struck by the Mint in later years, and they remain rare and valuable.
Morgan dollar
The Denver Mint, established in 1906, struck the coins for only one year, in 1921. The mint marks appearing on the coins are none, representing Philadelphia, "" for Carson City, "" for San Francisco, "" for New Orleans and "" for Denver. In order to conform to the Coinage Act of 1837, the Morgan dollar contained ninety percent silver and ten percent copper, measured in diameter and weighed .
Silver standard
The United States adopted a silver standard based on the Spanish milled dollar in 1785. This was codified in the 1792 Mint and Coinage Act, and by the federal government's use of the Bank of the United States to hold its reserves, as well as establishing a fixed ratio of gold to the US dollar. This was, in effect, a derivative silver standard, since the bank was not required to keep silver to back all of its currency. This began a long series of attempts for America to create a bimetallic standard for the US dollar, which would continue until the 1920s. Gold and silver coins were legal tender, including the Spanish real. Because of the huge debt taken on by the US federal government to finance the Revolutionary War, silver coins struck by the government left circulation, and in 1806 President Jefferson suspended the minting of silver coins.
Gold dinar
The gold dinar () is an Islamic medieval gold coin first issued in AH 77 (696–697 CE) by Caliph Abd al-Malik ibn Marwan. The weight of the dinar is 1 mithqal (4.25 grams).
Gold dollar
In proposing his plan for a mint and a coinage system, Secretary of the Treasury Alexander Hamilton in 1791 proposed that the one-dollar denomination be struck both as a gold coin, and as one of silver, representative of the two metals which he proposed be made legal tender. Congress followed Hamilton's recommendation only in part, authorizing a silver dollar, but no coin of that denomination in gold.
Morgan dollar
The U.S. only minted the Morgan dollar again during 1921, the only year in which Morgan dollars were struck at the Denver mint. Since the Treasury had destroyed the obsolete Morgan dollar dies in 1910, Morgan had to create an entirely new master die. Another provision of the Pittman Act authorized the U.S. to mint a replacement coin for every silver dollar melted. During the same year, the Peace dollar was first issued to commemorate the end of World War I. The Peace dollar was supposedly minted to replace the Morgan dollar under the terms of the Pittman Act but without congressional authorization, despite the fact that the Act did not describe the coin design. The change in design was actually authorized under an 1890 act of Congress, which stated:
Until 1964, U.S. citizens could redeem paper money known as silver certificates for silver dollars at a U.S. Treasury mint on demand. In 1962, an individual redeemed a silver certificate and received a rare and valuable Morgan dollar in exchange. The coin was from a bag of silver dollars in the vault of the Philadelphia Mint. This incident triggered huge interest, and between November 1962 and March 1964, millions of Morgan and Peace dollars were sold to the general public. The demand to exchange silver certificates for silver dollars was so great that lines formed outside of the Treasury Building in Washington, D.C. Some people in line were pushing wheelbarrows. The U.S. Treasury discovered previously unknown mint bags of Carson City dollars in its vaults containing slightly more than 2.8 million Carson City silver dollars in the Treasury vaults. Treasury officials decided to hold them back because the total number of coins minted at the Carson City mint were generally lower than others.
Liberty Head double eagle
No proposal for a gold twenty-dollar piece was considered until after the California Gold Rush, beginning in 1848, greatly increased the amount of the metal available in the United States. The increase in the supply of gold caused silver coins to be worth more than their face value, and they were heavily exported, generating new support for a gold dollar to take their place in commerce. The massive quantity of gold made a larger denomination desirable as well, to more efficiently convert gold to coins. In January 1849, North Carolina Congressman James Iver McKay amended his previously introduced legislation for a gold dollar to provide for a double eagle as well. He wrote to Mint Director Robert M. Patterson, who responded, "there can be no other objection to the Double eagle except that it is not needed. It will be a handsome coin, between the half dollar and dollar in size."
Dollar
Silver was mostly removed from U.S. coinage by 1965 and the dollar became a free-floating fiat currency without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation.
McKinley Birthplace Memorial dollar
A hearing was held before Ashbrook's committee on January 13. Originally, the bill called for mintage of 100,000 silver dollars in commemoration of McKinley, but at the hearing, Butler requested that they be gold instead, stating, "if you will recall the fact, McKinley was elected in 1896 mainly on the question of the gold standard." The gold dollar had not been struck as a circulating coin since 1889. Asked a question from New York Congressman James W. Husted as to whether a gold dollar would be too small to be a souvenir, Butler responded, "No; I do not think so. I think, on the other hand, a silver dollar might be too large. I think we can dispose of gold dollars very much easier. Mr. Husted, and you know gold dollars are rather scarce just now." Ashbrook agreed, and stated:
Dollar coin (United States)
Seated Liberty dollars were introduced in 1836 and were minted in lesser quantities than the sparsely minted Gobrecht dollar that preceded it. The dollars were used in general circulation until 1873. The production of large numbers of U.S. gold coins (First $1 1848 and $20 in 1849) from the new California mines lowered the price of gold, thereby increasing the value of silver. By 1853, the value of a U.S. Silver Dollar contained in gold terms, $1.89 of silver. With the Mint Act of 1853, all U.S. silver coins, except for the U.S. silver dollar and new 3 cent coin, were reduced by 22.9% as of weight with arrows on the date to denote reduction. The U.S. silver dollar was continued to be minted in very small numbers mainly as a foreign trade to the Orient.
Outerwall
Outerwall cooperated with the US Mint in the introduction of the Golden Dollar at the beginning of the millennium and encouraged people to use coins rather than notes.
Dollar coin (United States)
The 1804 dollar is one of the rarest and most famous and popular coins in the world. Its creation was the result of a simple bookkeeping error, but its status as the king of coins has been established for nearly a century and a half. The silver dollars reported by the mint as being struck in 1804 were actually dated 1803. (With die steel being very expensive in the early 19th century, dies were used until they were no longer in working condition. This is why many early U.S. coins exhibit all kinds of die cracks, occlusions, cuds, clash marks, and other late state die wear. Nearly every coin the U.S. struck from 1793 to 1825 has an example that was struck in a year other than that which it bears.) No dollars bearing the date 1804 were ever struck in 1804, though this was unknown to mint officials at the time the 1804 dollar came to be.
Canadian dollar
In 1858, bronze 1¢ and 0.925 silver 5¢, 10¢ and 20¢ coins were issued by the Province of Canada. Except for 1¢ coins struck in 1859, no more coins were issued until 1870, when production of the 5¢ and 10¢ was resumed and silver 25¢ and 50¢ were introduced. Between 1908 and 1919, sovereigns (legal tender in Canada for $) were struck in Ottawa with a "C" mintmark.
Canada produced its first gold dollar coins in 1912 in the form of $5 and $10. These coins were produced from 1912 to 1914. The obverse carries an image of King George V and on the reverse is a shield with the arms of the Dominion of Canada. Gold from the Klondike River valley in the Yukon accounts for much of the gold in the coins.
Dollar sign
According to a plaque in St Andrews, Scotland, the dollar sign was first cast into type at a foundry in Philadelphia, United States in 1797 by the Scottish immigrants John Baine, Archibald Binney and James Ronaldson.
The dollar sign did not appear on U.S. coinage until February 2007, when it was used on the reverse of a $1 coin authorized by the Presidential $1 Coin Act of 2005.
Gold dollar
Nevertheless, the Type 2 gold dollar (as it came to be known) proved unsatisfactory as the mints had difficulty in striking the new coin so that all details were brought out. This was due to the high relief of the design—the three Southern branch mints especially had trouble with the piece. Many of the Type 2 pieces quickly became illegible, and were sent back to Philadelphia for melting and recoinage. On most surviving specimens, the "85" in the date is not fully detailed. The Type 2 gold dollar was struck only at Philadelphia in 1854 and 1855, at the three Southern branch mints in the latter year, and at San Francisco in 1856, after the design was designated for replacement. To correct the problems, Longacre enlarged the head of Liberty, making it a scaled-down version of the three-dollar piece, and moved the lettering on the obverse closer to the rim. This improved the metal flow and design sharpness so much that early numismatic scholars assumed the reverse was also altered, though in fact no change was made and the Type 2 and Type 3 reverses are identical.
Trade dollar (United States coin)
The United States trade dollar was a dollar coin minted by the United States Mint to compete with other large silver trade coins that were already popular in East Asia. The idea first came about in the 1860s, when the price of silver began to decline due to increased mining efforts in the western United States. A bill providing in part for the issuance of the trade dollar was eventually put before Congress, where it was approved and later signed into law as the Coinage Act of 1873. The act made trade dollars legal tender up to five dollars. A number of designs were considered for the trade dollar, and an obverse and reverse created by William Barber were selected.
Panama–Pacific commemorative coins
By April, Robert W. Woolley had been commissioned as Director of the Mint, and he approved samples of the gold dollar, the first to have work completed, on April 22. He then traveled to San Francisco, and was there when the dies for the dollar arrived on the 27th. When the San Francisco Mint's coiner examined them, they proved to be lacking the mint mark "S", customary on coins produced there. Woolley was not sure if this was intentional, and wired to Philadelphia Mint Superintendent Adam M. Joyce on the 29th. Upon learning that it was intentional—Joyce reasoned that as the entire mintage of this, the first commemorative issue to be struck outside Philadelphia, would be produced at San Francisco, there was no need to use a mint mark—Woolley ordered that the dies at San Francisco and in transit be returned to Philadelphia, and new ones produced with the mint mark. Woolley believed that people would assume the coins were struck at Philadelphia, which did not then use a mint mark. Burdette notes that the San Francisco Mint was a source of local pride and the omission of the mint mark would likely have led to widespread protest, and possibly to two varieties of each of the new coins: with mint mark, and without. New dollar dies were sent from Philadelphia on May 3, and for the half dollar the following day. Dies for the $50 followed on May 14, and for the quarter eagle on May 27.
Containing of gold and measuring across for the octagonal) and in diameter for the round, the $50 pieces were the largest and heaviest U.S. coins issued until surpassed in 2010 by the America the Beautiful Silver Bullion Coins. The octagonal $50 piece is the only U.S. coin that is not round. The facilities at the San Francisco Mint were inadequate to strike such large coins as the $50 pieces, and a hydraulic medal press was shipped from Philadelphia. This press was ceremoniously operated at that mint on June 15, 1915 for the initial striking of $50 octagonal pieces; the first by San Francisco Mint Superintendent T. W. H. Shanahan, for presentation to the exposition's president, Charles C. Moore. The next nine were struck by other dignitaries, including Congressman Kahn. Anyone else present with the price of $100 per coin was then allowed to strike their own piece, and at least three people, including Dewey's wife and the local postmaster, did so.
Gold dollar
Since gold did not circulate in the United States (except on the West Coast) in the postwar period, much of the production of coins of that metal in the United States was double eagles for export. Accordingly, although 1,361,355 gold dollars were struck in 1862—the last time production would exceed a million—the mintage fell to 6,200 in 1863 and remained low for the rest of the coin's existence, excepting 1873 and 1874. The Mint felt it improper to suspend coinage of a coin authorized by Congress, and issued proof coins (generally a few dozen to the tiny numismatic community) from specially-polished dies, also producing enough circulation strikes so that the proof coins would not be unduly rare. In 1873 and 1874, old and worn gold dollars held by the government were melted and recoined, generating large mintages of that denomination. This was done in anticipation of the resumption of specie payments, which did not occur until the end of 1878. Once specie again circulated at face value, the gold dollar found no place in commerce amid large quantities of silver coinage, either released from hoarding or newly struck by the Mint. The government expected that the resumption of specie payments would cause the dollar and other small gold coins to circulate again, but the public, allowed to redeem paper currency, continued to use it as more convenient than coins.
Morgan dollar
The dollars were produced every year between 1878 and 1904 at a total of 4 different mints. Each mint, with the exception of Philadelphia, has its own mint mark. In 1921 production was resumed for one year only, with this year being the only one where the Denver mint was used.
Dollar coin (United States)
Composed of 90% pure gold, it was the smallest denomination of gold currency ever produced by the United States federal government. When the U.S. system of coinage was originally designed there had been no plans for a gold dollar coin, but in the late 1840s, two gold rushes later, Congress was looking to expand the use of gold in the country’s currency. The gold dollar was authorized by the Act of March 3, 1849, and the Liberty Head type began circulating soon afterward. Because of the high value of gold, the gold dollar is the smallest coin in the history of U.S. coinage.
Dollar coin (United States)
It is also one of only two denominations (the other being the cent) minted in every year from its inception during the first decade of mint operation. However, the order was given by President Thomas Jefferson to halt silver dollar production due to the continued exportation of U.S. dollars. The Spanish 8 Reales, which was slightly heavier than the U.S. dollar, nonetheless traded at a 1-to-1 77ratio. So U.S. dollars went to the Caribbean, were traded for heavier 8 Reales, and those were then brought back to the U.S., where they would be recoined for free into more U.S. dollars; the difference in silver, then, was kept by the exporter. This ensured that no dollars would circulate in the U.S., but would instead be exported for their heavier counterparts overseas, leaving little but old, foreign money to circulate in the United States in a process known as Gresham's Law.
Silver Dragon (coin)
Silver Dragon coins, also sometimes known as Dragon dollars, are silver coins issued by China, Japan and later Korea for general circulation in their own countries. Featuring a dragon on the obverse of Japanese and Korean issues and on the reverse of Chinese issues, all were inspired by the silver Spanish dollar which following its introduction into the region in the 16th Century had set the standard for a de facto common currency for trade in the Far East, this specification being a weight of 27.22 grams and a fineness of .900; the coin thus contained 24.5 g (0.7876 troy oz) of silver.
Liberty Head double eagle
Under the Mint Act of 1792, the largest-denomination coin was the gold eagle, or ten-dollar piece. Also struck were a half eagle ($5) and quarter eagle ($2.50). Bullion flowed out of the United States for economic reasons for much of the late 18th and early 19th centuries. The eagle's size made it convenient for use in international transactions, and, faced with the likelihood that most being struck were exported, the Director of the Mint Elias Boudinot ended its production in 1804. In 1838, coinage resumed after Congress revised the weight and fineness of American gold coins. The new eagle was struck to a design by Christian Gobrecht, who was one of the Mint's engravers.
Dollar coin (United States)
The international trading partners did not like the fact that U.S. coins were reduced in weight. The use of much more common half dollars became problematic since merchants would have to separate higher value pre-1853 coins from the newer reduced ones. From 1853 onwards, trade with Asia was typically done with Mexican coins that kept their weight and purity in the 19th Century. This ended in 1874 when the price of silver dropped so that a silver dollar has less than $1.00 worth of silver in it (huge amounts of silver coming from the Nevada Comstock Lode mines). By 1876, all silver coins were being used as money and by 1878, gold was at par with all U.S. paper dollars. Beginning in 1878, huge amounts of the Morgan silver dollars were produced but few were used as money. The size was too large to carry on business so Silver Certificates were used instead. The mint made the coins, placed them in their vaults and issued the Silver Certificates instead. This is the reason so many Morgan and Peace dollars can be purchased in AU or UNC condition (near perfect)... they sat in bank/U.S. Treasury vaults most of the time.
Three-dollar piece
Although over 100,000 were struck in the first year, the coin saw little use. It circulated somewhat on the West Coast, where gold and silver were used to the exclusion of paper money, but what little place it had in commerce in the East was lost in the economic disruption of the Civil War, and was never regained. The piece was last struck in 1889, and Congress ended the series the following year. Although many dates were struck in small numbers, the rarest was produced at the San Francisco Mint in 1870 (1870-S); only one is known with certainty to exist.
1804 dollar
The first dollar coins, known as Flowing Hair dollars, were issued by the Mint beginning in 1794. By 1800, a majority of depositors requested their bullion be struck as silver dollars, which were then utilizing the Draped Bust design. This contributed to a shortage of small change in circulation, and as a result, the public became increasingly critical of the Mint. Mint Director Elias Boudinot began encouraging depositors to accept fractional coins, and the production of dollars began to decrease in relation to the smaller coins. Dollar coin production ceased in March 1804, although those pieces bore the date of 1803. In his 1805 report, Mint Director Robert Patterson stated that "[t]he striking of small coins is a measure which has been adopted to accommodate the banks and other depositors, and at their particular request, both with a view of furnishing a supply of small change, and to prevent the exportation of the specie of the United States to foreign countries." Though none had been struck for over two years, Secretary of State James Madison officially suspended silver dollar coinage on May 1, 1806, addressing a letter to Patterson: Sir: In Consequence of a representation from the director of the Bank of the United States that considerable purchases have been made of dollars coined at the mint for the purpose of exporting them, and as it is probable further purchases and exportations will be made the President directs that all the silver to be coined at the mint shall be of small denominations, so that the value of the largest pieces shall not exceed half a dollar.
Banknotes of the United States dollar
Silver certificates were issued from 1878 through 1964 and were redeemable in silver coin through 1967 and thereafter in raw silver bullion. Since 1968 they are not redeemable in anything but Federal Reserve Notes. They were removed from circulation in 1964, at the same time as silver coins. They were issued in large size through 1929 and in small size thereafter. They were originally issued in denominations of $10, $20, $50, $100, $500 and $1,000. $1, $2 and $5 notes were added in 1882. Small size notes were only made in denominations of $1, $5 and $10. The small notes were made with a blue seal, except for notes made as an emergency issue for American soldiers in North Africa during World War II, which were made with a yellow seal, as well as a $1 note made for use only in Hawaii during World War II, which had a brown seal.
Gold dollar
A total of 19,499,337 gold dollars were coined, of which 18,223,438 were struck at Philadelphia, 1,004,000 at New Orleans, 109,138 at Charlotte, 90,232 at San Francisco and 72,529 at Dahlonega. According to an advertisement in the February 1899 issue of "The Numismatist", gold dollars brought $1.80 each, still in demand as a birthday present and for jewelry. That journal in 1905 carried news of a customer depositing 100 gold dollars into a bank; the teller, aware of the value, credited the account with $1.60 per coin. In 1908, a dealer offered $2 each for any quantity. As coin collecting became a widespread pastime in the early 20th century, gold dollars became a popular specialty, a status they retain. The 2014 edition of R.S. Yeoman's "A Guide Book of United States Coins" rates the least expensive gold dollar in very fine condition (VF-20) at $300, a value given for each of the Type 1 Philadelphia issues from 1849 to 1853. Those seeking one of each type will find the most expensive to be a specimen of the Type 2, with the 1854 and 1855 estimated at $350 in that condition; the other two types have dates valued at $300 in that grade.
Eisenhower dollar
The Bicentennial dollars were the first of the three denominations to be struck for distribution to the public; these were coined beginning in February 1975. The silver pieces were struck at San Francisco beginning on April 23, 1975. The Mint found that the copper nickel dollar was striking indistinctly, a problem not seen with the silver pieces. Brooks called a halt in production to allow Gasparro to modify the dies; the most noticeable change is that the revised issue, or Type II as it came to be known, have narrower, sharper lettering on the reverse. All silver pieces (struck only at San Francisco) are Type I; all three mints struck both Type I and Type II copper nickel pieces. All dollars included in 1975 proof sets are Type I; all those included in 1976 proof sets are Type II. The first Bicentennial dollars were released into circulation on October 13, 1975. Over 220 million were struck. The Bicentennial design was not used after 1976; sets of silver clad Bicentennial coins were sold by the Mint until sales were finally closed at the end of 1986.
Sacagawea dollar
The Sacagawea dollar (also known as the "golden dollar") is a United States dollar coin that has been minted every year since 2000, although not released for general circulation from 2002 to 2008 and again from 2012 onward due to its general unpopularity with the public and low business demand for the coin. These coins have a copper core clad by manganese brass, giving them a distinctive golden color. The coin features an obverse by Glenna Goodacre. From 2000 to 2008, the reverse featured an eagle design by Thomas D. Rogers. Since 2009, the reverse of the Sacagawea dollar has been changed yearly, with each design in the series depicting a different aspect of Native American cultures.
United States dollar
The Gold Standard Act of 1900 abandoned the bimetallic standard and defined the dollar as of gold, equivalent to setting the price of 1 troy ounce of gold at $20.67. Silver coins continued to be issued for circulation until 1964, when all silver was removed from dimes and quarters, and the half dollar was reduced to 40% silver. Silver half dollars were last issued for circulation in 1970. Gold coins were confiscated by Executive Order 6102 issued in 1933 by Franklin Roosevelt. The gold standard was changed to , equivalent to setting the price of 1 troy ounce of gold at $35. This standard persisted until 1968.
Kennedy half dollar mintage figures
The Kennedy half dollar is a United States coin that has been minted since 1964. In the first year of production the coins were minted in 90% silver and 10% copper (90% silver). From 1965 through 1970, the coins were minted in a clad composition of mostly silver outer layers and a mostly copper inner layer (40% silver). After 1970, the coins are minted in a copper–nickel clad composition. Starting in 1992, 90% silver coins were made for inclusion in special "Limited Edition" silver proof sets.
Saint Vincent dollar
Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight (Spanish dollars and later Mexican dollars) continued to form a major portion of the circulating currency right into the latter half of the nineteenth century. Britain adopted the gold standard in 1821 and an imperial order-in-council of 1838 resulted in British sterling coinage being introduced to St. Vincent in the year 1839. However, despite the circulation of British coins in St. Vincent, the silver pieces of eight continued to circulate alongside them and the private sector continued to use dollar accounts for reckoning. The international silver crisis of 1873 signalled the end of the silver dollar era in the West Indies and silver dollars were demonetized in St. Vincent in 1879 for fear that the silver standard might return. Even though the British sterling coins were made of silver, they were fractional coins of the British gold sovereign and hence they maintained their gold value. This left a state of affairs, in which the British coinage circulated, being reckoned in dollar accounts at an automatic conversion rate of 1 dollar = 4 shillings 2 pence.
Numismatic history of the United States
The dollar coin returned in 1999, in a case very similar to the 1921 Morgan dollar, with the Susan B. Anthony dollar, to fill in until the Sacagawea Dollar came about in 2000. Concurrent is the Presidential Dollar series, which ended its production in the fall of 2016.
Draped Bust dollar
In 1831, Mint Director Samuel Moore filed a request through the Treasury asking president Andrew Jackson to once again allow the coinage of silver dollars; the request was approved on April 18. In 1834, Edmund Roberts was selected as an American commercial representative to Asia, including the kingdoms of Muscat and Siam. Roberts recommended that the dignitaries be given a set of proof coins. The State Department ordered two sets of "specimens of each kind [of coins] now in use, whether of gold, silver, or copper". Though the minting of dollars had been approved in 1831, none had been struck since 1804. After consulting with Chief Coiner Adam Eckfeldt (who had worked at the Mint since its opening in 1792), Moore determined that the last silver dollars struck were dated 1804. Unknown to either of them, the last production in March 1804 was actually dated 1803. Since they believed that the last striking was dated 1804, it was decided to strike the presentation pieces with that date as well. It is unknown why the current date was not used, but R.W. Julian suggests that this was done to prevent coin collectors from being angered over the fact that they would be unable to obtain the newly dated coins.
Gold dollar
The gold dollar continued to be produced in the late 1850s, though mintages declined from the figures of two million or more each year between 1850 and 1854. Only about 51,000 gold dollars were produced in 1860, with over two-thirds of that figure at Philadelphia, just under a third at San Francisco, and 1,566 at Dahlonega. Roughly a hundred are known of the last, creating one of the great rarities from Dahlonega in the series.
The other candidate for the rarest from that mint is the 1861-D, with an estimated mintage of 1,000 and perhaps 45 to 60 known. Two pairs of dies were shipped from Philadelphia to Dahlonega on December 10, 1860; they arrived on January 7, 1861, two weeks before Georgia voted to secede from the Union, as the American Civil War began. Under orders from Governor Joseph E. Brown, state militia secured the mint, and at some point, small quantities of dollars and half eagles were produced. Records of how many coins were struck and when have not survived. Since dies crack in time, and all the mints were supplied with them from Philadelphia, coining could not last, and in May 1861, coins and supplies remaining at Dahlonega were turned over to the treasury of the Confederate States of America, which Georgia had by then joined. Gold coins with a face value of $6 were put aside for assay. Normally, they would have been sent to Philadelphia to await the following year's meeting of the United States Assay Commission, when they would be available for testing. Instead, these were sent to the initial Confederate capital of Montgomery, Alabama, though what was done with them there, and their ultimate fate, are unknown. The rarity of the 1861-D dollar, and the association with the Confederacy, make it especially prized.
Silver certificate (United States)
Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard. The certificates were initially redeemable for their face value of silver dollar coins and later (for one year – June 24, 1967 to June 24, 1968) in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender and thus are still an accepted form of currency.