History of first silver dollar
The word dollar was first used by James VI of Scotland who struck a 30-shilling coin between 1567 and 1571 called as the Sword Dollar depicting him on the obverse holding a sword.
It is believed that the first silver dollar of U.S. i.e. Flowing Hair silver dollar, designed by Mint Engraver Robert Scot, and was struck in 1794.
There was difficulty in striking the first Flowing Hair silver dollar as it was not found to be of presentable quality.
The adjustment marks along the rim, pushed up denticles and usage of inferior quality of the planchets were the reasons for difficulty in striking.
Flowing Hair design was replaced with the Draped Bust with small eagle reverse in 1795 and Seated Liberty dollars in 1836.
Silver dollar underwent series of changes later and resulted in emergence of newer silver dollar coins.
Two most popular silver dollars
Among important U.S. silver dollar mintage include most popular Morgan and Peace designs of silver dollar.
Following enactment of Bland-Allison act of 1878 regarding America’s bimetal minting system, Morgan dollar was created for coinage purpose.
An Englishman, George Morgan, was entrusted responsibility of creating a new U.S. silver dollar. The design of silver dollar coin, created by Morgan, had head of Lady Liberty on the obverse side of the silver coin.
U.S. motto “E Pluribus Unum,” or “from many, one,” year of pressing and thirteen stars that represent number of colonies.
Whereas, reverse had an eagle with spread wings, holding an olive branch and three arrows that represent strength in peace and war.
Reverse of new silver dollar designed by Morgan had U.S. motto, “In God We Trust”, inscription United States of America and One Dollar and mint mark.
Morgan dollar showed innovation and connection with late 19th-century American history.
As per The Pittman Act of 1918, U.S. Mint begin striking more silver coins once again in 1921. The older Morgan design was in use but desire for a new coin design led to the creation of new design of silver dollar coin.
New silver dollar coin was named as “Peace Dollar” because it was created to commemorate the victorious end of World War I. It was designed by Anthony De Francisci, an Italian national, immigrated to America.
Peace Dollar features Liberty in profile, hair billowing, with radiant crown and showing U.S. motto, “In God We Trust,” as well as date of pressing.
Reverse of new silver dollar i.e. Peace Dollar featured an eagle at rest carrying an olive branch and perched in front of a sunburst.
Reverse on Peace Dollar had nation’s name, the “E Pluribus Unum” motto, the value i.e. one dollar and a mint mark.