The U.S. dollar coin is a coin that has been in circulation since the 1700s. The dollar coin is currently made of a copper-nickel blend, but it has been made of other materials in the past, including silver and gold. All dollars from 1935 or earlier were made of 90% silver. The silver dollar is likely the most desired & collected coin.
The first U.S. dollar coins were minted in 1794 and featured the “Flowing Hair” design, which depicted a portrait of Liberty with her hair flowing on the obverse, and an eagle on the reverse. The dollar coin was originally made of silver and was valued at one dollar. These are amazing coins with very high price points.
In 1795, the design of the dollar coin was changed to feature the “Draped Bust” design, which showed Liberty with a draped bust on the obverse, and an eagle on the reverse. This design was used until 1804, when production of the dollar coin was suspended due to a lack of demand and a shortage of silver. Rare coins and expensive regardless of grade.
In 1836, the U.S. Mint resumed production of the dollar coin, using a new design called the “Gobrecht” design, which featured Liberty on the obverse, and an eagle on the reverse. This design was used until 1839, when it was replaced by the “Seated Liberty” design, which depicted Liberty seated on a rock with a shield at her side and a branch in her hand on the obverse, and an eagle on the reverse.
The US Trade dollar was minted from 1873 to 1885 for use in international trade with Asia. The design of the Trade dollar was like that of the Morgan dollar, but with some key differences.
The obverse of the Trade dollar features a left-facing bust of Liberty wearing a Phrygian cap, with the word “Liberty” inscribed above her head. The date is located below Liberty’s bust. Around the edge of the coin are 13 stars representing the original 13 colonies.
The reverse of the Trade dollar features an eagle with spread wings holding arrows and an olive branch in its talons, with a shield on its chest. The eagle is surrounded by a wreath of cotton, wheat, and corn. Above the eagle is the motto “In God We Trust” and below is the denomination “420 GRAINS 900 FINE” (referring to the weight and fineness of the silver in the coin).
The Trade dollar was larger and heavier than the standard silver dollar of the time, with a weight of 27.22 grams and a diameter of 38.1mm. The design was intended to make the coin more appealing to Asian merchants, who were accustomed to larger and heavier coins than those commonly used in the United States. Some of these are found with what are called Chop Marks. Chop marks are small, sometimes deep, and sometimes overlapping chop marks, symbols or characters that were punched into the surface of the Trade dollars by merchants in Asia who used the coins in trade. These chop marks were used to verify the authenticity and purity of the silver content of the coins.
Merchants would test the weight and silver content of the Trade dollars by striking them with a small hammer or other hard object, leaving a chop mark on the surface of the coin. These chop marks could indicate the weight or quality of the coin or be used as a form of identification for the merchant.
Chop marks were more commonly found on Trade dollars than on other US coins of the era, due to the large number of these coins that were used in international trade. While chop marks can detract from the overall aesthetic appeal of a coin, they can also add to its historical and cultural significance, as they provide evidence of the coin’s use in international trade and the relationships between different cultures and economies. Today, chop marked Trade dollars are collected as a unique and interesting piece of numismatic history.
In 1878, the U.S. Mint introduced the “Morgan” dollar, which featured a portrait of Liberty on the obverse, and an eagle on the reverse. This design was used until 1904 and then a single year of production again in 1921. This is the most collected coin around. Everybody loves these coins. Some key dates or conditional rarities can fetch hundreds of thousands of dollars.
In 1921 the US mint introduce the Peace Dollar which ran from 1921 through 1935. The peace dollar is known for its beautiful design and historical significance. While many dates of Peace dollars are common and easily obtainable, there are some key dates that are highly sought after by collectors.
Key Dates for peace dollars:
In 1971, the U.S. Mint began producing a new dollar coin called the “Eisenhower” dollar, which featured a portrait of President Dwight D. Eisenhower on the obverse, and an adaptation of the Apollo 11 insignia on the reverse. This design was used until 1978. President Dwight D. Eisenhower, who was a five-star general in the US Army and served as President from 1953 to 1961. The Eisenhower dollar was the first US dollar coin to be minted since the Peace dollar in 1935. It was also the largest and heaviest US coin in circulation at the time, with a weight of 22.68 grams and a diameter of 38.1mm The Ike Dollar was the last of the Big Dollar coins.
The “Susan B. Anthony” dollar was created in 1979, which featured a portrait of the women’s rights activist on the obverse, and an eagle landing on the moon on the reverse. Inexpensive for most of these even the varieties, common dates are worth face value. The Susan B. Anthony dollar was intended to replace the one-dollar bill, but it was not well received by the public due to its similarity in size and color to the quarter. Many people also found it difficult to distinguish the front and back of the coin, leading to confusion and inconvenience. As a result, the coin was not widely circulated and was eventually discontinued.
In 2000, the U.S. Mint introduced a new dollar coin called the “Sacagawea” dollar, which features a portrait of the Shoshone woman who guided the Lewis and Clark expedition on the obverse, and an eagle on the reverse. In 2009, the design of the reverse was changed to feature different images representing Native American culture and history. Most of the common date ones are worth face value other than the famous Cheerios dollar which was a free dollar given away in boxes of Cheerios cereal.
The Presidential dollar series was minted from 2007 to 2016 and is a tribute to the former Presidents of the United States. While most dates of Presidential dollars are not particularly rare or valuable.
Today, the U.S. Mint continues to produce the dollar coin, although it is not widely used in circulation. The US Mint continues to release various new dollar coin series for collectors.