Buy Silver Dollars Online from CBMint
Buy Silver Dollars Online
Silver Dollar is the name given to any $1 white metal coin produced by the United States Mint. Though early silver dollars, such as Morgan Silver Dollars and Seated Liberty Silver Dollars were predominantly silver metal, from 1964 onwards the silver content was first reduced, then eliminated entirely. From Eisenhower Silver Dollars until the present, "silver dollars" are struck from base metals, including copper, bronze, and manganese brass. Coin collectors, of course, buy silver dollars online for their numismatic value. Even newer silver dollars are popular among collectors, though they have generally failed as circulation pieces.
Silver dollars were circulation coins, not to be confused with silver bullion coins such as the modern American Silver Eagle, however, buyers who invest in silver bullion also buy silver dollars online, limiting their purchases to coins that actually contain silver metal. Silver bullion investors buy low-grade silver dollars that have little numismatic value. These types of silver dollars are referred to as junk silver.
Different Types of American Silver Dollars
Numerous designs have been used on US $1 silver dollar coins over the decades. The Coinage Act of 1792 authorized the production of dollar coins in silver, and the US Mint produced silver dollar coins starting in 1794. Throughout the long production run, silver dollars have not been continuously produced -- for many years at a time, no silver dollars were manufactured. Early dates of United States silver dollars are highly collectible, with many issues exceptionally rare. Variations in the coins were common, as the hard steel used to manufacture the coin dies was very expensive, so dies were continuously used until they broke. Because of this, many early US coins contain cracks, cuds, and occlusions. Termed exonumia, silver dollar issues with die defects can be extremely valuable.
Buying Early Period American Silver Dollars
The first two versions came to be called the Flowing Hair Silver Dollar and Draped Bust Silver Dollar, produced until 1804. All are extremely rare, especially the 1804 issue, which has become a footnote in American numismatic history. In 1834, the US Treasury decided to gift silver and gold coins to Asian rulers, to gain trade advantages. As no silver dollars had been struck since 1803, the US Mint created new dies and struck silver dollars dated 1804. However their records were incorrect -- though they showed 1804 as the last year of silver dollar production, 1803 was, in fact, the most recent year. This error cased the US Mint, in 1834, to strike 1804 Silver Dollars, a date of issue which did not ever exist.
Buying Seated Liberty Silver Dollars Online
Seated Liberty Silver Dollars were produced from 1836 until 1873 and shared the Seated Liberty design with other American silver coins. Seated Liberty Silver Dollars were widely traded until 1853, when silver content was reduced to prevent the exporting and melting down of US silver coins. As a result of the reduced silver content, general circulation waned, being replaced by the more-common Seated Liberty Half-Dollar. Mintages remained small until the late 1873, being eventually usurped by the iconic Morgan Silver Dollar.
Buying Silver Trade Dollars Online
Not really a true US Silver Dollar, the Trade Dollar was issued between 1873 and 1885 for use in foreign trade in Asia. Trade Dollars are 90% silver and weigh 27.2 grams, slightly more than standard Seated Liberty and Morgan Silver Dollars. Most were manufactured in the first two years and ended up in East Asia. Trade Dollars rarely circulated in the United States, though they were eventually assigned a face value of five dollars. In 1876, however, the price of silver plummeted, making the $5 face value much higher than the silver bullion value. As a result, Trade Dollars poured back into the United States from Asia. Many of these expatriated Trade Dollars now bore "chop marks", Asian characters stamped into the dollar by merchants to verify the coin's authenticity. Today, many collectors actively seek out and buy Trade Dollar coins with chop marks, as the marks add a little numismatic value to some coins.
Buying Morgan Silver Dollars Online
The quintessential US Silver Dollar, the Morgan Silver Dollar has a strange history. Struck between 1878 and 1905, and again in 1921, Morgan Dollars were produced at the behest of the silver mining industry, who was looking to prop up demand for the silver they were mining in vast quantities. Collecting Morgan Silver Dollars is second only to the collecting of Lincoln Pennies among numismatists. Indeed, investors and collectors buy Morgan Silver Dollars online in large amounts, and a huge number of grade, date, and mint mark variations are available. Due to the extremely large number of Morgan Dollars produced, they circulated poorly and many were simply placed in storage, as there was no need for them in circulation. As a result, many Morgan Silver Dollars are still, today, in excellent condition.
Buying Peace Silver Dollars Online
First introduced in 1921, the Peace Dollar was designed to commemorate the peace treaty that ended World War One. In 1922, the US Mint produced a vast number of Peace Dollars, even at the expense of other circulating coinage. Production ended in 1928, resumed in 1934 and 1935, and then stopped. Strangely, in 1965 over 300,000 Peace Dollars were struck at the Denver Mint and dated 1964-D. However, all were melted down before being released for circulation. Like the famed 1933 Saint Gaudens Gold Double Eagle, the 1965 Peace Dollar is considered to "not exist" and possession of any examples is illegal.
Buying Eisenhower Silver Dollars Online
Beginning in 1971, the US Mint resumed production of "silver dollars," though the silver was entirely eliminated from the coin, being replaced by copper and nickel. However, special issues containing 40% silver were produced for collectors between 1971 and 1976. Commemorating the former President and the Apollo Moon Program, the base metal composition of the standard Eisenhower Dollar made them extremely resistant to wear. The large size and weight of the coin made them unpopular with the public, though the casino industry heartily adopted them as a cheap replacement for one dollar metal tokens for slot machines.
Buying Susan B. Anthony Silver Dollars Online
Between 1979 and 1981, and again in 1999, the US Mint produced another base metal dollar coin, the Susan B. Anthony silver dollar. The coins were never popular with the public, their similarity in size and weight to a US Quarter Dollar coin being one of the main reasons.
Buying Sacagawea Silver Dollars Online
With much fanfare, the United States Mint launched the golden-colored (due to the manganese-brass cladding) Sacagawea dollar coin in 2000, with hopes that one dollar banknotes could finally be eliminated. Again, the coin proved unpopular, despite a large push to secure their usage in vending machines, post office machines, and transit booths. After 2001, the Sacagawea dollar coin was produced mainly for collectors, and the coin sees little circulation.
Buying Presidential Silver Dollars Online
Beginning in 2007, the Presidential $1 Coin Program was created to promote a new series of one dollar coins, still often called silver dollars despite the complete lack of any silver in the coin. Hoped to increase among the general public in the viability of a $1 coin, four Presidential Silver Dollar coins were released each year. The program was intended to end in 2016, but lack of interest and funding terminated the program early. Collectors still buy Presidential Dollar Coins online, and specimens are occasionally seen in circulation.
Buying Silver Dollars Online
The best online silver dealers, like CBMint, concentrate on offering older silver dollars that contain actual silver. Newer, base metal dollar coins are still in circulation and available from many coin shops and banks. However, coin collectors who are buying silver dollar coins online gain an advantage over those that buy silver dollars in coin shops, as online prices for silver dollars are almost always lower than prices in brick and mortar stores. This includes prices on Morgan Silver Dollars, Peace Silver Dollars, and older types, such as Seated Liberty Dollars and Trade Dollars. CBMint obtains its selection of silver dollar coins only from large, reputable suppliers, so there are never any issues with the quality of the coins or their authenticity.