History of Silver Coins in The United States

As the official silver bullion coin of the United States of America, American Silver Eagle, like many other silver coins in the United States, has a rich history that speaks of patriotism, opportunity, and American ideals that this country was founded upon. Adding this coin to any collection as an investment or individual retirement account investments is a perfect way to own a definitive piece of Americana. But first, let’s take a look at the rich history of American coins that were made with silver, when and why that stopped, and why owning a piece of United States silver is an impressive investment.

A Brief History of Silver Coins in The United States.

Silver coins have been used as far back as the ancient Greeks when they created one of the first crude coins for mass trade, the Drachma, as far back as 1100 BC. Research shows that even a cruder version was probably used before this time for a trade in ancient times.
Though American history doesn’t go as far back as the Greek’s history, silver is definitely a “language” the founding fathers of America understood. However, since the Revolutionary War took precedence over the minting of coins, the first silver coins were not created in the United States until 1794 at the first mining company in Philadelphia, PA. These coins were produced until the year 1804, but all coins created in 1804 were given the date of 1803. These coins were not produced until 1834 again and were printed with the date 1804 as a gift to give Asian rulers. Only 8 of these coins currently exist. In the year 1858 and 1860, a United States mint employee, Theodore Eckfeldt, illegally minted “1804” Silver Dollars. These coins are referred to as Class II and Class III 1804 Silver Dollars. Only one Class II coin exists and seven Class III 1804 Silver Dollars.
The Seated Liberty Coin was introduced in the year 1840 and was minted until 1873 until it was replaced by the Trade Dollar. Trade Dollars were created to facilitate trade with Asian countries. However, soon after these were created the price of silver plummeted
After the Trade Dollar came to the Morgan Dollar, which was produced between 1878 to 1904 and then again in 1921. The Morgan Dollar was replaced with the Peace Dollar. The Peace Dollar was minted from 1935-1964. This silver coin was named the “Peace Dollar” in order to commemorate the peace treaties signed to bring about the ending of World War I.

The End Of Silver Coins In U.S. Circulation.

In 1965, President Lyndon B. Johnson signed The Coinage Act Of 1965 which eliminated the circulation of silver in dimes and quarters and reduced the percentage of silver in half dollars from 90% to 40 %. In 1970, silver was completely eliminated from half dollars as well.

The Need For Beautiful Silver Coins Emerges.

In a time when American coinage was lacking beauty, Adolph A. Weidman created the breathtaking Silver Eagle coin in 1986. However, the design for the American Silver Eagle of 1986 was nothing new. This coin borrows its design from its predecessor the Walking Liberty Half Dollar that was minted from 1916 to 1947. With just one look at this coin, it’s easy to see why this silver coin was such a hit then and continues to catch the eye of Americans. The image of Liberty standing in the folds of the American flag, with her right arm extended and the branches of the laurel and ok in her left hand, echoes the American ideals and opportunities of the past. American Silver Eagles are a popular choice for both collectors and investors alike.

Adding Silver Coins and American Silver Eagles To Your Collection.

Luckily, American Silver Eagle coins are much easier to find that the silver coins of 1804(and not nearly as expensive). Not only are they easier to find, but they are a great overall investment for retirement account investments and collections. First Fidelity Reserve is proud to be able to carry a large selection of silver, gold, and rare coins. We carry a large selection of American Silver Eagles from backdated sets to current editions. Here are just a few reasons you will want to add this beautiful coin to your collection:

● Silver American Eagles are the largest and purest legal tender silver coins ever minted in the United States.
● These silver coins are legally classified as “numismatic” and are legally qualified investment coins through your personal IRA plan.
● Silver American Eagles are the perfect silver treasure for your family's estate collection.
● The United States Government guarantees the silver weight, content, and purity of each Silver American Eagle sold by First Fidelity Reserve.
● The United States Government guarantees the weight and 99.9% pure fine silver content of each Silver American Eagle.
● Buying American Silver Eagles now could save you money if the price of silver trends higher over time.

The uncirculated coins that are sold at First Fidelity Reserve are not sold directly to the public from the U.S. Mint. If you are interested in adding an American Silver Eagle to your collection don’t hesitate to speak with one of our representatives or view our current available stock. We are committed to bringing all of our customer’s expert advice and prompt, professional service.