~May 2008~
Trade Dollar (1873- 1885)
This coin was issued for circulation in the Orient to compete with dollar-size coins of other countries. It weighed 420 grains compared to 412 1/2 grains, the weight of the regular silver dollar.
Many of the pieces which circulated in the Orient were counterstamped with Oriental characters, known as "chop marks". These are generally valued lower than normal pieces.
When first coined they were legal tender in the United States to the extent of $5.00, but with the decline in price of silver bullion Congress repealed the legal tender provision in 1876 and authorized the Treasury to redeem, for six months, all Trade Dollars which were not mutilated.
The Trade dollars of 1884 and 1885 were unknown to collectors generally until 1908. None is listed in the Director's Report and numismatists believe that they are not a part of the regular mint issue. After 1878, strikings were specimen proofs only.
The law authorizing Trade dollars was repealed in February, 1887.
~April 2008~ [none]
~March 2008~
Coins of the United States Dollar
United States coinage was first minted by the new republic in 1792. New coins have been produced every year since then they make up a valuable aspect of the United States currency system. Today circulating coins exist in denominations: $0.01, $0.05, $0.10, $0.25, $0.50, and $1.00. All of these are produced by the United States Mint. The coins are then sold to Federal Reserve Banks which in turn are responsible for putting coins into circulation and withdrawing them as demended by the country's economy.
Today four mints operate in the United States producing billions of coins each year. The main mint is the Philadelphia Mint, which produces circulating coinage, mint sets and some commemoratives. The Denver Mint also produces circulating coinage, mint sets and commemoratives. The San Francisco Mint produces regular and silver proof coinage. The West Point Mint produces bullion coinage (including proofs). Philadelphia and Denver produce the dies used at all of the mints. The proof mint sets are manufactured each year and contain examples of all of the year's circulating coins. These and the other non-circulating coins can be purchased directly from the US Mint.
~February 2008~
American Silver Eagle (1986- Present)
The American Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. It is struck only in the 1 troy oz denomination which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of .999 pure silver. It is authorized by the United States Congress and its weight and content is certified by the United States Mint. The American Sliver Eagle bullion coin may be used to fund Individual Retirement Account investments. The United States Mint also produces a proof version for coin collectors.
The design on the obverse was taken from the classic "Walking Liberty" design by Adolph A. Weinman, which had originally been used on the half-dollar coin of the United States from 1916 to 1947. As this iconic design had been a public favorite -and indeed one most beloved designs of any United States coinage of modern times, silver or otherwise- it was revived for the Silver Eagle decades later. The reverse portrays a heraldic eagle designed by John Mercanti.
Mintages, and thus prices, of uncirculated and proof specimens have varied widely, and the potential collector is advised to check a standard reference book before buying them. Generally the business strikes have minted in the millions, while the proofs were issued in the hundreds of thousands. Thus, most dates are not particularly expensive ($15-$20 each), although some of the early 1990s proofs sell for over $100. Also, the special 1995w issue (30,125 sold) is worth several thousand dollars. The 2006 Silver Eagle 20th Anniversary boxed set, with uncirculated, proof, and the previously-unreleased reverse proof pieces, had a maximum mintage of 250,000 and quickly sold out from the Mint at a catalog price of $100. As of January 2008 it was selling for over $350.
