The Silver Dollar

In past history of coins the silver dollar was widely looked at as a everyday coin used for currency. In the wild west times people like jesse james robbed people of these like they were gold. If today we still had at least a large sized dollar coin or even higher denomination coin that is large it would be used more than the presidential dollar or also known as the gold dollar. Other countries rarely even use higher denomination coins, our neighboring country canada uses the loonie and toonie which are used more than our ike dollar when it was still being circulated. Casinos passed silver dollar over the tables of gambling even after the were not minted anymore. If we could only go back to the times when the morgan, peace and ike dollar were ounce a every day in change of your pocket

 

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Check your history. People didn't like silver dollars, didn't want them and wouldn't use them. Millions, having been stored away for so long in vaults, were melted down on at least two occasions. The ones still left in the vaults were released as the GSA hoard when silver prices soared. That's the only time people really wanted them. And no one wants the dollar coins that are minted today. Billions of them are in storage right now. Before 1964, the half dollar was the workhorse of our coins. Now it's the quarter.

 

thanks for ruining my thread

 

It would be wiser if we went to a large dollar coin again. A paper dollar only lasts about 2 years, a metal coin can last 50 years or more.

People don't like the weight of the dollars....if you made a hole in the center, a large one, it would cut down on weight.

I don't think people like the $1 coins because they are not much different in size from a quarter.

 

all in all i meant the large sized dollar not the gold dollars today i meant this thread to say that people might apreciate them more if we used the large sized ones like the ike dollars or morgans

 

News Flash!

The Morgan and Peace Silver dollars were NEVER regularly circulating coinage "except" for in the gaming casino's. Even then, a dollar was a LOT of money.

When I was a small boy in the mid 50's, my folks brought back some Morgan's from Reno, Nevado (The only legal Gambling Joint in the Country). With that one dollar, I was able to purchase 9 full size candy bars and still get a nickel and a Franklin Half Dollar in change. Todays equivalent coin would be a $20 coin.

Another thing to consider, "when" dollar coins were made, a single $20 roll, could have purchased 4 (if not more) 20 gallon fill ups at the service station OR, it represented 2/3 of the monthly rent on a Studio Apartment. Hamburgers were about 15 cents each if not cheaper. Dinner out for a family might have run $7 with tip!

Unfortunately, dollar coins have never been popular at local merchants since the quarter and half dollar were "usually" the largest denomination of coin to fill most cash registers. Dollar Bills ruled as they do today. Matter of fact, the ONLY reason banks carried Morgan or Peace Silver Dollars was that each one dollar bill was printed with the following words:



If those words had not been there, Silver Dollars would not have been available at any Federal Reserve Member Bank. Just like they aren't today.

England has 1 pound and 2 pound coins. All the European counties have one euro and two euro coins. Canada has the looney and the tooney. For each of the above countries, the ONLY way that these coins could ever exist is whe the sponsoring country eliminated the paper bill equivalent.

Hopefully, the good ole US of A will one day eliminate the dollar bill and adopt the dollar coin. When that happens, then the dollar coin will be widely used both as a coin for change and as a collectible.

As for your last comment, "If you could only go back in time.....", it's a great idea but unfortunately the economy would be the same and you probably ould not be able to afford stashing Morgan Dollars away for the future.

My advice is, if you're interested in Dollar coins, start collecting them now or at the very minimum, start looking at them now and setting aside the good ones because it won't be 20 years before some of those good one's aren't so widely available any longer.

 

You ruined it by not really knowing what you were talking about.

 

Just what makes you think that? I ask because you just might know something that the rest of the world doesn't.

 

as was said above, people didn't use them then, they don't now either, so why would a larger coin make a difference?

 

The Public overwhelmingly rejected the Eisenhower Dollars. Their largest mintages occured in 1971 and continually tapered off after that becuase people simply did not use them. Actually, thats not entirely true, "Merchants", both large and small did not incorporate them into their businesses.

 

meh, returning to silver dollars wouldn't be such a great idea. They are far too big to be carried around as standard change. Although, our use of the loonie and toonie here in Canada is great. Smaller coins like the loonie and toonie make a whole lot more sense than paper money at those denominations as they last much, much longer. Heck I'd even possibly consider replacing the 5 note with a coin.

 

I assume you were just joking when you said this. Gambling was legalized in Nevada in 1931. The Railroad Pass Hotel & Casino in Henderson, Nevada opened in 1931 and is still the longest running casino in Nevada.

Chris

 

He didn't ruin your thread, but did point out that your information is flawed.

Morgan dollars were not widely received nor were they popular with the majority of the U.S. population. They did have some popularity in the west by gamblers in gambling houses and saloons.

If they were so popular, the U.S. Mint in Philadelphia would have had an overflowing hoard of Morgans in their storage vaults, and when they were filled to capacity, eventually had to use space in the Fed's vaults.

I suggest you buy and read Q. David Bower's book on Morgan dollars.

Oh and an FYI, the reason Canada's loonies and twonies are widely used is because Canada did away with their $1 note.

The only way our dollar coinage would be used that much is to follow Canada's suit, and do away with the $1 note.

 

This was actually a pattern coin.

 

i apologize to eveyone for falsely making this thread with incorrect information i am new to collecting and i love the dollar coins i wish to hopefully learn more of coins and i can learn from diffrent people in this forum thank you for your posts of correct facts i didnt know of

 

Welcome to CT!
Relax, all is well.
this is a great place to learn

 

does anyone know where a great site to view dollar patern cons

 

don't feel bad about your thread. Once I said I had a '66 proof Lincoln, but in 1966 they made SMS sets. The coin was SMS, and I just screwed up. We all have our flops

 

Nah. I was generalizing meaning Nevada used to be the only place you could legally gamble. Now, you can gamble danged near anywhere and lot's of young folks aren't aware of that.

Just like they're not aware that Morgan and Peace Dollars didn't really circulate. Sure, gunslingers and other nefarious individuals had them kinda like today's drug pushers and gangsters but the general public just couldn't afford to use them.

I was born in 1948 and I'll bet I never saw more than 20 Morgans total until the late 60's. Heck, in late 1967 my salary was a whopping $88.80 before taxes!

 

Great Attitude! You'll fit in quite well and learn lots! The ability to learn makes for some Great Collectors!

What you stated in your opening is what a lot of folks new to collecting would like to believe but the reality is much much different.

I often look back and wonder why the heck I didn't stash rolls of Kennedy's and IKE's away at face value for the future until I remind myself that I just did not have that much disposable income! You do realize that an original roll of 1983 Kennedy Half Dollars sells for over a $100 a roll or that an original roll of 1983 Washington Quarters can sell for upwards of $900!

Whatever, the change we received back in the 50's is highly sought after by collectors today and I truly believe that, 50 years from now, folks will be asking themselves the exact same question: Why didn't I stick more away when I coulda had them at face value?

Something to think about and welcome to the forum!