If you’re looking to create a silver dollar collection, then it’s important to have an example of each type of the most common American silver dollar coins. There are some silver dollar coins, such as the Flowing Hair, which are incredibly rare, and not something a casual collector can own. Other dollar coins (Susan B. Anthony and Sacagawea) are not silver.
Here are the four most important types of silver dollar coins. You should add an example of each one to your collection.
Seated Liberty Dollar
The Seated Liberty Dollar is the first silver coin to be used by a large number of people. They were first minted in 1840. They remained in general circulation until 1853, when they were pulled from general circulation. They continued to be minted, but they were only used as “trade dollars”. The reason the government stopped minting them was that the price of silver was worth more than the face value of the coin. Eventually the government resumed minting the coins for the general public when the price of silver dropped. The coin was last minted in 1891.
The Morgan silver dollar was minted between 1878 and 1904, as well as later, for a single year (1921). The coin was the first silver dollar to be minted after the controversial Coinage Act of 1873. This act was designed to stop people who were hoarding silver from having it struck as coins. The act also led to the gold standard. For several years, the mint produced a gold dollar. However, there was enormous push back from the public over the right to use silver, so politicians passed the Bland–Allison Act. This was a compromise over silver. What the government would end up doing was purchase a certain amount of silver and have it minted. This resulted in the Morgan silver dollar, which you can still find in places like Fast Coins.
The Peace dollar has a sporadic minting history. It was first minted in 1921 in order to celebrate the peace agreement that ended World War 1. It continued to be minted until 1928. It was then discontinued until 1934, when it was minted for two years (1934,1935). The coins were also minted in 1964, but they were never released to the public and they were all melted down.
An interesting bit of trivia is that the designer, the renowned sculptor Anthony de Francisci, used his own wife as the model for his updated portrait of Lady Liberty.
The Eisenhower silver dollar marks the unofficial end of dollar coins. They were never very popular because of their large size. They were minted from 1971-1978. They were made of silver from 1971 until 1976. The front of the coin depicts Dwight Eisenhower, while the reverse depicts a portrait of the Apollo space landing, except for the 1975/6 years, which depict the cracked Liberty bell on the reverse.
Because they were not used much, you should be able to find one in extremely fine condition.