United States Coins and Paper Money

UNITED STATES COINS

The early American colonies primarily relied on British and Spanish-supplied silver and copper coins, which were provided in limited quantities. Facing a shortage of currency, the Massachusetts colony established its own mint in 1652. Initially, copper tokens known as the Granby Coppers were minted, marking the first copper coins produced in America.

US Silver Eagle Silver One Ounce Coin

The American Silver Eagle, a one-ounce .999 fine silver coin, is among the world's most esteemed collector coins, with over 180 million minted by the US government. Renowned for its liquidity and global reputation, it measures 40.6 mm in diameter, 2.98 mm in thickness, and carries a face value of $1.00.

Saga of the 1933 Double Eagles

During the Great Depression, President Roosevelt ordered the melting of all gold coins, with a few exceptions. Notably, two coins went to the Smithsonian Institute, while others were later confiscated by the Secret Service. A significant legal battle ensued over the ownership of these rare 1933 Double Eagles, culminating in a record-breaking sale of $7,590,020 for one coin in 2001. Subsequently, additional coins were discovered and are now held in Fort Knox.

USA Silver Coins

Morgan Silver Dollar

Named after its designer G.T. Morgan, the Morgan Silver Dollar was minted from 1878 to 1904 and again from 1921. Comprising .900 silver, each coin contains 0.77344 troy ounces. Initially intended for domestic circulation, it contrasts with the Trade Dollar, which served international trade purposes.

Peace Dollar

Following the Morgan Dollar, the Peace Dollar was intermittently minted until 1935, marking the last silver coin for US circulation. Notably, the 1923 Peace Dollar stands out for its unique "TRVST" inscription, reflecting a creative use of Latin spelling.

American Silver Eagle

First minted in 1986, the American Silver Eagle features one troy ounce of 99.9% silver. Revered as a hedge against inflation and economic uncertainties, its popularity has occasionally led to production delays due to high demand.

Cleaning and Historical Notes

Antique silver coins should not be cleaned as it can diminish their value. Methods for safely cleaning silver coins include using baking soda, electrolysing, ammonia, or commercial jewelry cleaning products.

Spanish Influence and Colonial Mints

During the 16th century, Spain exerted significant influence in Europe and established numerous colonial mints that produced coins similar to those minted in Spain until the 1820s. These coins bear distinguishing mint marks, necessitating reference to a coin guide due to their various varieties.

Conclusion

The history of US coinage began amidst the struggle for independence from Great Britain, with early colonies clandestinely minting their own currency to address shortages. This eventually led to the establishment of the US Mint, a crucial step towards unifying the nation's currency. Today, coins like the Morgan Silver Dollar remain highly sought-after by collectors, underscoring their enduring popularity and historical significance.