The First US Silver Dollars

After the Coinage Act of 1792 was passed, the United States Mint started to produce the first US silver dollars from 1794 up to 1803. Containing 90 percent silver and 10 percent copper, there were 1,758 minted in 1794 and it's believed that there are only about 200 of these 1794 silver dollars remaining in the world now.

Designed by Robert Scot, the original "Chief Engraver of the United States Mint", the 1794 silver dollar features the right profile of Lady Liberty on the obverse. Here, she can be seen with free flowing shoulder length hair, without her crown. For this reason, the 1794 and 1795 silver dollars are also known as "Flowing Hair" silver dollars to coin collectors. On top of her head is the word "LIBERTY" and below is the year of coinage. A number of six-pointed stars on both sides make up the rest of the circle. On the reverse, there's a bald eagle encircled by a wreath with the words "UNITED STATES OF AMERICA" forming the outer ring.

In 1795, there were about 160,000 of the Flowing Hair Silver dollars minted. In the middle of 1795, the "Draped Bust" Silver dollars replaced the Flowing Hair design. The Draped Bust Silver Dollar features a more sexy profile of Lady Liberty where her cleavage is prominent. There's also some sort of a hair band to make her appear more wild and patriotic. The other elements on the obverse remain much the same.

In 1798, the smaller bald eagle on the reverse was replaced by a more emblamatic version, running up to 1803. This time, the wings of the eagle spread more majestically, carrying a banner with the words "E PLURIBUS UNUM". There's a badge of horizontal and vertical lines shielding the eagle's body. The right talons are clutching a bunch of arrows and the left talons are clutching a branch of olive. Somehow, the eagle looks more angry and symbolic in this version. A cluster of five-pointed stars appears above the eagle's head and there's a band of clouds above the stars.

For some reason, the American public of those times didn't really embrace the silver dollar coins. As a result, the highest number of the earliest US silver dollars minted for circulation was only 423,515 in 1799. Proofs of these issues of the earliest silver dollars are extremely rare with only 40 estimated to be minted from 1801 to 1804. While it's unlikely that you have a silver dollar from 1794 to 1803, you can sell your silver and get instant cash for silver. Here, you will find a silver buyer who pays the best rates for silver.