U.S. dollar coins
Origins of the U.S. dollar
Did you know that the U.S. dollar, with its iconic “$” symbol, has a fascinating history? Its roots go back to the Coinage Act of 1792, which established the dollar as the official currency of the United States. This act also introduced the concept of the “cent” with its symbol “¢”. It is interesting to note that the origins of the dollar can be traced to the Spanish real de a 8 (also known as Spanish dollar), a currency then widely used in the North American colonies. Although the dollar remains the dominant international currency today, other currencies such as the euro are gaining ground.
In this new NCV article we delve into the captivating world of dollar coins… and cents!
The first dollar coins
The first dollar coins were minted in 1794. The Draped Bust Dollar is one of the best known coins of this era and one of the most coveted old American coins by collectors. These coins were mare of silver and featured a design with the bust of Liberty on the obverse and an eagle on the reverse. 1849 marked a milestone in American numismatics, as the first gold dollar coin was introduced, known as the Gold Dollar, which was minted until 1889 and designed by James B. Longacre.
Different denominations of dollar coins
Over the years, dollar coins have been minted in various denominations. Let’s take a look at the most common ones:
Dollar coin collecting isn’t just a hobby – it’s a thrilling journey into America’s history. From the intricate designs to the fascinating stories behind each coin, collecting offers a unique peek into the evolution of our culture. Whether you’re a seasoned collector or just starting out, each coin promises endless discoveries and a richer connection to our past.
Dollar coins and collecting
There are many collectors of dollars, quarters, and pennies in the United States and worldwide. As usual, when it comes to numismatics, their value is determined by the history, rarity or scarcity, and condition of the coins. Below is a list of some of the most sought-after U.S. coins:
- Cent (1 cent): The smallest coin in value, commonly known as a “penny”.
- Nickel (5 cents): Introduced in 1866, replaced the half-cent coin.
- Dime (10 cents): Introduced in 1796, it is one of the oldest coins in continuous circulation.
- Quarter (25 cents): Introduced in 1796, it is widely used in everyday transactions.
- Half dollar (50 cents): Although less common today, it has been minted since 1794.
- Dollar ($1): Dollar coins have been minted in various designs and metals, including silver, gold and modern alloys.
Record breaking dollar coins at auctions
Being the number one currency in the world, it is not surprising that some dollar coins have reached astronomical prices at auctions due to their rarity and state of preservation. Among the most notable are:
- 1933 Double Eagle is the most expensive coin ever sold. The sale took place at a Sotheby’s auction in 2021 and the piece was sold for $18,900,000.
- 1794 Flowing Hair Silver Dollar: Considered the first dollar coin minted by the United States. One of these coins sold for over $10 million in 2013.
- 1822 Half Eagle: One of these coins sold for $8.4 million in 19991.
- 1804 Dollar: The 1804 Dollar or Arched Liberty Dollar was a one dollar coin struck by the United States Mint, of which fifteen examples are currently known to exist. It sold at a Stacks Bowers auction in 2021 for $7.68 million.
… By the way do you collect dollar coins, quarters or pennies? If so, feel free to leave your comment or contribution below. We appreciate it very much.
On our blog you will find articles about old and recent coins and banknotes, as well as coin and banknote certification.
The NCV team hopes you enjoyed this article.
See you soon!
