Mint Case
Mint Case
Evolution of the Silver Dollar Mint
Beginning in 1792 the United States was allowed to produce silver dollars for use as legal tender. When the paper dollar came into existence some years later the use of dollar coins became obsolete with periods when the US mint didn\'t even strike any coins larger than the half dollar. In the 21st century dollar coins are a rare sight though they are not obsolete, especially in light of the late 199s introduction of the gold dollar piece. It was a definite improvement over earlier issues because it was easy to differentiate the dollar from the half dollar or quarter because of the color. Earlier the silver dollar had been reduced in size and in its silver color was almost indistinguishable from either the quarter or half dollar. This left retailers with the problem of having to look at any silver coin in denominations higher than the dime to make sure they were giving correct change.
Although it has not remained in constant circulation, there have been some new issues of the silver dollar from the Mint. This may be an effort to rejuvenate its use or just to provide collectors with another coin to add to their growing collections. There have been various occasions when the silver dollar has been produced such as the Susan B Anthony dollar as an expression of a woman\'s right to participate in the running of the government. These special occasions make the value of that particular silver dollar from the mint more valuable for the collector. It will not increase the face value nor will it be worth anything to collectors while it is still in circulation.
One thing a collector must keep in mind is that the circulation of a silver dollar from the Mint may have a widespread or limited circulation. Since these factors are not generally public knowledge at the time of issue, you may want to save any new coins in case they become collector\'s editions later. When any coin is still in widespread circulation whether it is still being minted or not it will have no value beyond that on its face. After the coins have limited circulation because they are no longer in widespread circulation they will begin to gain value for the investor and collector.
One problem with the silver dollar is its additional cost compared to the Federal Reserve Note and the public\'s dislike of so many coins. It has dwindled in popularity even though other countries use coins equivalent to the U.S. dollar. For instance, Great Britain\'s one pond denomination is a coin-the lowest note available for widespread use is the five pound note. The minimal production of the silver dollar make any new issues more valuable to collectors because they know eventually those coins will be removed from circulation. Each new issue from the Mint means a potential new coin for a collector although it will take some years for any new silver dollar from the Mint to be worth the same as those old, rare coins from centuries ago.
About the Author
Rachel Barr
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