Silver Dollar Value
silverdollarvalue.com updates silver dollar value multiple times per week. While many people purchase silver dollar coins for their silver melt value your coin value could be worth additional money as a collectable coin. Below you will find the different silver dollar coins we update on a regular basis. We believe the best way to determine the value of silver coins is to look at past sales, for this reason we update our pricing on a regular basis.
Morgan Silver Dollar Value
The Morgan silver dollar is one of, if not the, most collected silver dollar coin in the United States. Coins were minted from 1878 – 1921 (Morgan silver dollar mintage). The 1895 Proof Morgan silver dollar is known as the King of the Morgan dollars. With a total of 880 coins struck and around 75 – 80 in known existence the coins demand very high prices when up for auction. Read more about Morgan Silver Dollar value.
S = San Francisco minted 1887 - 1921 CC = Carson City minted 1887 – 1893. O = New Orleans minted 1879 – 1904 D = Denver minted 1921
Peace Dollar Value
The Peace Dollar silver coin was issued from 1921 – 1928 and then reissued 1934 and 1935. The rarest Peace Dollar is the 1922 high Relief coin with a mintage of 35,401 coins. The higher numismatic value Peace Dollar coins contain a Mint mark of D or S. The mint mark is located beneath the word “One” on the back of the coin. Read more here about Peace Dollar value.
P = Philadelphia S = San Francisco Denver
Eisenhower Dollar Value
The Eisenhower silver dollar coin was minted from 1971 – 1978, each coin contains 40% silver. The coins are minted with former President Dwight Eisenhower on the front. The back of the coin shows an Eagle flying over the moon, adapted from the Apollo 11 insignia.
American Eagle Silver Dollar Value
The American eagle silver dollar coin is minted 1986 – Present. Each coin contains 1 ounce of silver, with a $1 face value. Coins containing the W mint mark were minted at West Point Mint. The 1995 W silver dollar is by far the most rare and highest sought after coin in this set with a mintage of 30,125.
Seated Liberty Silver Dollar Values
The liberty seated silver dollar coins were minted from 1840 – 1873. The silver coins were used as everyday general circulation coins during this time. In the early 1850 the silver content value became higher than the $1.00 face value of the coin. For this reason the coin was rarely used in transactions outside of export trade.
A Brief History of Silver Dollars
The United States has minted one-dollar coins in gold, silver, and base metals. Generally speaking, when most people use the term silver dollar, they’re referring to a coin that’s been minted by the United States that actually has silver as part of its makeup. Silver dollars were minted for the first time in 1794.
Prior to the American Revolutionary War the coins that were used in the burgeoning American colonies were mostly from European nations. In fact, the Spanish silver dollar, which was minted in Mexico, was used extensively throughout the colonies and served as the model for later silver dollars issued by the United States.
The first attempt at paper money in the US was the Continental. It failed miserably which created a mistrust of paper money and a push to mint coins with an intrinsic value due to the metal they were comprised of. In 1776, the Continental Congress authorized the production of a silver coin to prop up the fledgling Continental.Their plans were never realized however, because the cost of funding the Revolutionary War proved to burdensome and they were unable to fund the minting of any coins that actually made it into circulation.
The Coinage Act of 1792 paved the way for another attempt at minting coins from silver. From 1794 to 1803 the United States Mint produced silver dollars. They then stopped regular production until 1836. The first silver dollars were minted on October 15, 1794. 1,758 were produced on that day, all of which were delivered to David Rittenhouse, the Director of the United States Mint. From there they were given to dignitaries as souvenirs. Following that fateful first day of minting they were produced in varying quantities thereafter.
The Flowing Hair Dollar (1794-1804)
The Flowing Hair Dollar was the first silver dollar the United States mint produced. It has two different designs on the obverse. One is referred to as Flowing Hair, it was minted from 1794-1795, the other is called Draped Bust,and it was minted from 1795-1804. The Draped Bust coins also utilized two different designs on the reverse, the small eagle from 1795-1798 and the heraldic eagle from 1798-1804. At this time each die was hand engraved, because of that there are many different varieties resulting from subtle changes in each die. Obviously these coins are highly sought after by collectors and specimens in good condition are often extremely valuable.
The 1804 Dollar
Amazingly, this coin only came into existence because of a bookkeeping error. That fortuitous event has lead to one of the most famous, and rare coins in the world. Ironically, no coins bearing the 1804 date were actually minted in 1804. These coins were minted in 1834! The United States Department of State wanted some coins to give to rulers in Asia in exchange for trade considerations. It was decided that, since 1804 was the last year of mintage for the dollar and ten-dollar Eagle, the set would contain examples of those coins dated 1804; as well as some other denominations that were in production. In those days the US Mint would use their dies until they basically fell apart. So it wasn’t uncommon at all for coins that were minted in one year to bear the previous years date. Such was the case here. Not realizing that the 19,000+ coins recorded as being produced in 1804 were all dated 1803 they made new dies dated 1804. The result of this fateful decision is one of the rarest coins in existence. There are only fifteen 1804 coins known to exist, one of which sold at auction in 1999 for more than four million dollars.
The Seated Liberty Dollar (1836-1873)
Minted in 1840 in relatively large quantities,the Seated Liberty Dollar was used in general circulation until 1853.Newly discovered gold mines in California led to a sudden influx of gold to the market so the price of gold dropped. As a result the value of silver rose. By 1853, a silver dollar contained $1.07 worth of silver. The Mint Act of 1853 led to the reduction of silver in some coins issued by the US Mint. It wasn’t until the discovery of the Nevada Comstock Lode mines in 1874 that the value of those pre-1853 silver dollars dropped below the face value of one dollar. Interestingly, international trade became cumbersome during that period because trade partners were upset by the reduction of silver in the coins. As a result trade with Asia was generally done with coins minted in Mexico.
Trade Dollar (1873-1885)
In response to nations such as Spain, Great Britain, France, and especially Mexico, the US began minting the Trade Dollar. The primary function of these coins was for use in trade with Asia. These had a little more silver in them than both the Seated Liberty Dollar and the Morgan Dollar. During the first couple years of production the vast majority of these coins ended up in Asia, where they were accepted and used in the Asian economy, frequently being “chopmarket” or over-stamped by local merchants to attest to their legitimacy.
Trade Dollars were legal tender for up to $5, but didn’t circulate in the US initially, but that did change. As western producers continued to dump silver in the market, the value of silver entered a downward spiral. As a result the face value of the Trade Dollar was worth more than its silver content. Enterprising traders took advantage of this and bought up Trade Dollars for the equivalent of eighty cents on the dollar in Asia and then brought them back to the US and spent them, as they were legal tender for $1. Two things happened because of this. One, many of the Trade Dollars in Asia came pouring back into the United States; secondly Congress revoked the legal tender status of the Trade Dollar, restricting their use to exportation demand only.
Production officially ceased for business strikes in 1878. Proof examples of the coin were struck however from 1879-1885. In 1887 approximately 8 million Trade Dollars were turned in when the US Treasury allowed the redemption of non-mutilated outstanding trade dollars for other forms of currency.
The Morgan Dollar (1878-1904 and then again in 1921)
One of the most collected coins in the world, the Morgan Dollar was minted from 1878 to 1921, with a break from 1905 to 1920. Ironically the American public didn’t embrace the design of the Morgan Dollar initially. In fact, it was given nicknames such as the Bland Dollar (a backhanded reference to what was perceived as a bland design, but also referencing the Bland-Allison Act which was the act that led to the coin’s production) and the VultureDollar, a reference to the eagle on the reverse, which some thought was a little meager.
Large quantities of Morgan Dollars were produced but many were never actually used as money. They were largely kept in US Treasury vaults because people were using Silver Certificates instead, which is why there are so many Morgan Dollars in such great condition to this day.
The Morgan Dollar is named for its designer, George T. Morgan who was an Assistant Engraver at the US Mint. Because of the long run on these coins and the fact that they were minted in various locations there are many varieties available, which is one of the reasons they’re so popular with collectors now. The Morgan Dollar is an American Icon and volumes have been written about its production and history. As this is supposed to be a brief history of silver dollars we’ll end this description here, but we certainly encourage you to visit other areas of our website where we have information about each individual year of issue.
The Peace Dollar (1921-1935 and then again in 1964)
Designed by Anothony de Francisci, the Peace Dollar commemorated the signing of peace treaties between Allied forces and Germany and Austria. Those treaties ended the Allies’ WWI hostilities with those two countries. Interestingly, the initial design included a broken sword but upon announcing that there was a public outcry stating that they thought that was emblematic of defeat and the Mint removed that from the design before production. While there were Peace Dollars minted in 1964, all are believed to have been destroyed;in fact possessing one is against the law. Like the Morgan Dollar, the Peace Dollar was minted for a relatively long time and in various locations. This again resulted in a large number of varieties to collect. Again, we could write volumes about this particular coin but to keep this brief, we’ll end it here and refer to other sections of the website for more information on this excellent coin.
American Silver Eagle (1986-Current)
The official silver bullion coin of the US, the American Silver Eagle is struck in one troy ounce size with a face value of one dollar. The face value is largely inconsequential as the value of the 99.9% pure silver is worth considerably more. The American Silver Eagle has been produced at the Philadelphia Mint, the San Francisco Mint, and the West Point Mint. Obviously the disparity between the face value of the coin and the actual value of the silver in the coin means that these are not meant to be circulated and are largely held by collectors and investors. In fact, it is legal to hold American Silver Eagle coins as part of an Individual Retirement Account.
Obviously there are other one-dollar coins that have been produced by the US Mint, such as the Eisenhower Dollar, the Susan B. Anthony, the Sacagawea Dollar, etc. This brief history is focusing on one-dollar coins minted in silver however, so we’ll leave information about all others for another article.