![]() The front of the coin ("obverse") featured Lady Liberty, an image patterned after a schoolteacher known to the coin's designer. It also included the motto "E. Grant adopted the gold standard for American coinage and no silver dollars were minted for several years. However, new legislation after his term put silver dollars back on track and the now legendary Morgan dollar was released in 1878. Mint has become known as the Flowing Hair dollar and was produced for only two years (1794-1795). It was replaced by the so-called Draped Bust dollar (1795-1804) and that, in turn, was supplanted by the Seated Liberty dollar (1840-1873). All three of these early-dollar coins are very scarce and a few dates are exceedingly rare. Several have sold at auction for more than $1 million each.Īs for the silver dollars most of us are familiar with? Following the Civil War, President Ulysses S. ![]() The first one-dollar coin struck by the U.S. Prior to American independence in 1776, most coins circulating in the New World were Spanish coins known as 8 Reales. These were the "pieces of eight" first minted in the 16th century and became something of a universal currency in the western hemisphere until being discontinued in the 1860s. Their size and weight were well-known to America's founders and used as templates for the first American silver dollar and all later dollars for the next 180 years. The world's earliest coins pre-date the U.S. by more than two millennia. Coins first appeared some 2,500 years ago, initially in Lydia, a kingdom located in modern-day Turkey that was tied to ancient Greece. The first coins were made of a mixture of gold and silver and featured the head of a royal lion. They proved immediately popular, eventually standardizing trade and creating a system of common value. Before long, coins of all sorts were in circulation throughout the world and remain so today. ![]()
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