Silver Dollar has been the favourite of most US coin collectors. It would not be wrong to suggest that you may find a silver dollar or two with people who have no specific interest in coin collection. What do you think would be the reason? What is about silver dollar that makes people look forward to investing in it? Why do people look forward to hang on to the silver dollar?
Why to invest in silver dollar
It would be pertinent to mention here that silver dollar is big, heavy and beautiful as well. However, you cannot ignore the fact that you are talking about coins here. It would be the piece of American history. You may ponder on the question about what history are we talking here. You should be rest assured that it would entail all American history here. The silver dollar was first made in the 1700s. It was not too long after independence. It would not be wrong to suggest that they were a big deal in the earlier days of the Wild West. Moreover, you could avail change for it in Las Vegas while gambling or even while purchasing gas.
Why are they made of silver?
The major reason for silver being used for their manufacturing was when the mint started in 1792, coins were deemed to be worth the money they actually stood for. A dollar manufactured from metal would be worth one dollar only. Silver was deemed the best metal for manufacturing of the dollar. The major reason was it coming easy in the pocket, as compared to copper and gold. Copper would be heavy for the pocket and gold would be too tiny to be lost easily.
What should be considered as silver dollar?
It would be pertinent to mention here that dollar made of silver would be considered as silver dollar. It would not be wrong to suggest that silver dollar came no later than 1935. However, few Eisenhower dollars would be made from 1971 to 1976. These comprise 40% silver. However, the last of mostly silver dollar, entailing 90% silver were 1935 Peace collar. However, rumours were that mint struck over 300,000 pieces of 90% silver Peace dollars in 1964. All of these were reported to be destroyed by the mint without exception. However, it would be pertinent to mention here that early dollar coins were beautiful in appearance. They were gorgeous coins.