Which Of The Following Are-Established The Silver Dollar
The silver dollar is a currency that has been used in the United States since the late 1700s. It has a rich history that spans centuries, and it has become an iconic symbol of American currency. But where did the silver dollar come from? What established it as a form of currency? In this article, we will explore the history of the silver dollar and the events that led to its establishment.
The Spanish Dollar
The silver dollar can trace its roots back to the Spanish dollar. The Spanish dollar was a coin that was minted in Spain and used as currency in many parts of the world. It was made of silver and was the most widely used coin in the world during the 16th and 17th centuries. The Spanish dollar was also the currency used in the American colonies during this time.
The Coinage Act of 1792
The establishment of the silver dollar as a form of currency in the United States can be traced back to the Coinage Act of 1792. This act established the United States Mint and authorized the production of several different coins, including the silver dollar. The act stated that the silver dollar should be made of 371.25 grains of silver and have a diameter of 1.5 inches.
The Morgan Silver Dollar
The silver dollar underwent several changes over the years, and one of the most iconic versions of the coin is the Morgan Silver Dollar. This coin was first minted in 1878 and was in production until 1904. It was then briefly produced again in 1921. The Morgan Silver Dollar is named after its designer, George T. Morgan, who was an assistant engraver at the United States Mint.
The Peace Silver Dollar
The Peace Silver Dollar was another iconic version of the silver dollar. It was first minted in 1921 and was in production until 1935. The coin was designed by Anthony de Francisci, who won a competition to design the coin. The Peace Silver Dollar was minted to commemorate the end of World War I and was intended to symbolize peace.
The End of the Silver Dollar
The production of the silver dollar came to an end in 1935. This was due to several factors, including the rising cost of silver and the fact that the demand for the coin had decreased. The United States Mint continued to produce silver dollars in limited quantities for collectors, but they were no longer used as currency.
The Return of the Silver Dollar
The silver dollar made a comeback in 1971 with the production of the Eisenhower Dollar. This coin was produced from 1971 to 1978 and was named after President Dwight D. Eisenhower. The coin was made of copper-nickel and was larger in size than previous versions of the silver dollar.
The American Silver Eagle
The American Silver Eagle is the most recent version of the silver dollar. It was first minted in 1986 and is still in production today. The American Silver Eagle is made of one ounce of .999 fine silver and has a diameter of 1.5 inches. The coin features an image of Lady Liberty on the front and a bald eagle on the back.
Conclusion
The silver dollar has a rich history that spans centuries. It has undergone several changes over the years, but it remains an iconic symbol of American currency. From the Spanish dollar to the American Silver Eagle, the silver dollar has played an important role in the history of the United States.