In American history, the dollar has been an iconic currency for a long time. The first dollar was minted in 1794, and since then, the US government has released more coins with different designs, including patterns, unique strikes, and proof versions.
Silver dollars are among today’s most valuable coins, and enthusiasts can’t stop collecting them. One was recently ranked as the most expensive coin globally at an auction, and other coins sell for millions. Common rare coins include The Flowing Hair Dollar, The Draped Bust Dollar, The Seated Liberty Dollar, The Trade Dollar, and The Morgan Dollar.
Here are details of rare silver dollars found in circulation:
Rare Silver Dollars Found in Circulation
1. The Flowing Hair Dollar
This coin is the initial dollar design and the rarest dollar in existence. It was launched in 1794 and was minted only for a year. It heavily borrowed different elements, including weight and size, from the Spanish dollars circulating in the US.
Robert designed these rare silver dollars in the US mint with an alloy of 10% copper and 90% silver. The name Flowing Hair was from the portrait of Lady Liberty, whose hair was waving in the wind. Scot was later advised to put a wreath around the eagle on the other side of the coin and bring the denomination close to the edge.
2. The Draped Bust Dollar
These rare silver dollars were produced between 1795 and 1803. According to the Coinage Act of 1792, the composition adjusted to 10.8% copper and 89.2% silver.
Collectors are still determining why the US Mint stopped producing the Flowing Hair design to Draped Bust, but some think it was due to public disapproval. Others suspect the newly employed director, Henry William, who decided to change the American coinage.
3. The Seated Liberty Rare Silver Dollars
Between 1836 and 1837, the US Mint released fewer coins, later called the Gobrecht Dollar, named after the engraver Chief Christian Gobrecht. During this time, the federal government was trying to determine how the economy would respond to introducing this rare silver coin in circulation.
In 1840, the Seated Liberty Dollar was released with a design similar to Lady Liberty sitting on a rock, holding a pole, and a shield resting on the floor. There were also thirteen stars with six points encircling the figure, representing the thirteen original colonies.
4. The Trade Dollar
These rare silver dollars were first used in 1873, and their sole purpose was international trade. The US government produced the trade dollar to compete with trade coins popular in East Asia. After a short while, business strike coins were stopped, and these coins lost their value, but proof versions were kept until 1883.
William Barber, a chief engraver of the US Mint, designed both sides of these coins. Observable features include the seated Liberty, which provides olive branches on her right hand, symbolizing peace. Like the Seated Liberty Dollar, this rare silver coin has thirteen stars representing the colonies.
Conclusion
Rare coins are popular among collectors because they bring a lot of value. Their scarcity proves they are hard to find and would cost you millions to own one. Silver coins in demand include The Flowing Hair Dollar, The Draped Bust Dollar, The Seated Liberty Dollar, and The Trade Dollar.
