When Did The U.S. Mint Make Silver Dollars?

We receive many questions like this, and while the answer may seem straightforward enough, it’s actually not. Why? Well, for starters, what defines a silver dollar? Do we count years that the U.S. Mint made dollar coins only for circulation? What about non-circulating silver dollars? What about dollar coins that aren’t made from silver but look “silvery”?

There is at least one absolute in all of this: the U.S. Mint began striking silver dollars in 1794. In fact, one of the most valuable coins is a special 1794 Flowing Hair Dollar that PCGS graded SP66. It sold for more than $10 million.

After 1794, what happened? Well, the U.S. Mint kept making silver dollars, without interruption, until 1804. Ah, but the 1804 silver dollar almost everyone in the hobby knows about wasn’t actually struck in 1804. And this is where the silver dollar story starts getting murky. The 1804 Draped Bust Dollar wasn’t made until the mid-1830s, when the U.S. Mint had already put the dollar coin on ice for some 30 years. Dollar coinage resumed on a regular basis by 1840, but it would sputter once again in 1873. What happened? Changes in coinage law brought an end to the silver dollar then in production.

Now, those of you who know your silver dollar history will be quick to point out that the Trade Dollar began production in 1873 – the year the Liberty Seated Dollar came to an end. So, what’s going on here? Ah…

Laws authorized the production of the Trade Dollar for international use in Asia. It wasn’t struck with intent to see domestic circulation in the United States; the coin – for a time – had only limited legal-tender status in the United States. So, do we call this a silver dollar by traditional definition? Hmm…

Enter 1878, and the Bland-Allison Act resurrected production of U.S. silver dollars – a move particularly beneficial to silver mining outfits in the West. The silver dollar returned, and this time it came in the form of the ever-popular Morgan Dollar. The Morgan Dollar is the silver dollar’s silver dollar. It is one of the most widely collected coins around, and there’s no question it fits the status of being a true “silver dollar.” It saw plenty of circulation during its heyday, especially out West.

In 1904, the Morgan Dollar breathed its last – for 17 years, that is. Then obligations of the Pittman Act of 1918 brought the Morgan Dollar back to production in 1921 until the Peace Dollar debuted late that same year.

The Peace Dollar was struck by the millions for years, until it wasn’t. The Peace Dollar took what many believed would be a final bow in 1928. But legislation brought the Peace Dollar back for two more years in 1934 and 1935.

Three decades passed, and a movement to eliminate silver from circulating dimes, quarters, and half dollars also led to a short run at producing Peace Dollars dated “1964” at the Denver Mint. But this didn’t last. In fact, none of these coins was ever officially released to the public. They were reportedly all melted, and no confirmed sighting of even one 1964-D Peace Dollar has been made public.

The U.S. Mint brought the Eisenhower Dollar to life in 1971. But something was different with this coin. Most were struck from copper-nickel clad, and not silver as all its predecessors had been. Does that mean 1935 is officially where the silver dollar story ends – with the last circulating Peace Dollars? You might think so. Think so, that is, until learning about the 40% silver Eisenhower Dollars made from 1971 through 1976. So does that mean that silver dollars really continued up through the time of the nation’s bicentennial in 1976? Do we count all Ike Dollars, since even the copper-nickel clad strikes are of the same diameter (38.1 millimeters) and same basic appearance as the classic silver dollars of yore?

Hang on, because we aren’t done yet. The U.S. Mint debuted the copper-nickel “mini dollar” in 1979 bearing the likeness of women’s rights leader Susan B. Anthony. These coins were struck only until 1981. Then it retired for nearly 20 years until a short reprisal in 1999. None – not one of these coins – was made with a silver planchet. Yet, many think of Susan B. Anthony Dollars as “silver dollars” because they were made from silvery-colored copper-nickel clad. So should you count Susan B. Anthony Dollars as “silver dollars”? Hmm…

It gets trickier still when we consider that the United States Mint started striking commemorative silver dollars of traditional composition, weight, and size in 1983. In fact, commemorative silver dollars continue to this day. The U.S. Mint also strikes the ever-popular American Silver Eagles, the non-circulating legal-tender coin containing one ounce of silver and denominated as “ONE DOLLAR.” Many refer to the American Silver Eagle as “today’s silver dollar.” Do you?

Insomuch, answering a question like “when did the U.S. Mint make silver dollars” isn’t a question with a clear answer. It may come down to technicalities. It may come down to semantics. And, ultimately, it may come down to what each of us thinks of when we think of a silver dollar. But remember this – the silver dollar is a coin that holds great importance in the hearts of many coin collectors and is one of the most beloved of all U.S. coins around.

*Opinions expressed here are those of the author and may not represent those of Professional Coin Grading Service or its subsidiaries.