Because commemorative silver dollars include a surcharge — usually $10 per coin — that helps support the organization, buying them is more than a good investment. It’s also a good way to support worthy causes and institutions. In fact, the program has raised more than $418,000,000 since it began. Over the years, the funds have helped to preserve historical sites and to create new national monuments and museums.

Obverse of AVDL Silver Dollar

The U.S. Mint is issuing two commemorative silver dollars in 2010. The first is the American Veterans Disabled for Life (AVDL) Silver Dollar which became available on February 25, 2010. The second is the Boy Scouts of America Centennial Commemorative Silver Dollar which is scheduled to be released on March 23, 2010.

The AVDL silver dollar was authorized by Congress in July of 2008. It was created to honor the sacrifice of American armed forces members who have been permanently disabled during their service to our country. Few subjects have been as worthy of this honor.

A total of 350,000 AVDL proof and uncirculated silver dollars will be minted at West Point. They will bear the W mint mark. The coins, which are 90% silver and 10% copper, weigh 26.73 grams and are 1.5 inches in diameter.

U.S. Mint Sculptor-Engraver Don Everhart designed the obverse which shows the booted legs of three soldiers. One of the soldiers has only one leg. It’s a poignant design that conveys the sacrifice these heroic Americans have made for their country. The inscription in the banner at the top of the coin reads THEY STOOD UP FOR US. The inscriptions at the bottom read LIBERTY and IN GOD WE TRUST with the year 2010.

Reverse of AVDL Silver Dollar

U.S. Mint Artistic Infusion Program Master Designer Thomas Cleveland designed the reverse of the coin. It shows a wreath of ribbons and oak branches with a forget-me-not at its base. The oak branches represent the strength of the veterans, and the flower is a symbol of remembrance. The message in the center of the wreath reads Take This Moment to Honor Our Disabled Defenders of Freedom. The other inscriptions are ONE DOLLAR and UNITED STATES OF AMERICA.

The proof AVDL silver dollars will be sold for the introductory price of $39.95 until March 29, 2010. Uncirculated coins in will be $33.95. After March 29, they will be $43.95 and $35.95, respectively.

The $10 surcharge from the sale of this coin will be used to build the AVDL Memorial in Washington, DC. The memorial was authorized by Congress in 2000.

You can order the silver dollars from the U.S. Mint by calling 1-800-USA-MINT or at http://www.usmint.gov/catalog.

Previous U.S. Mint commemorative silver dollars have turned out to be solid investments. Some proof 2001 Buffalo Silver Dollars are selling for ten times the issue price. And the 2009 Abraham Lincoln Silver Dollar sold out very quickly, which usually leads to appreciation.

Read more about commemorative silver dollars here.

Images from the U.S. Mint.

Commemorative silver dollars also help to raise money for worthy causes and institutions. A surcharge, usually around $10 per coin, is designated to support the organization that’s being honored. Since the program started in 1982, more than $418,000,000 has been raised. This money has been used to fund new museums, national monuments, and to help preserve historical sites.

2010 Boy Scouts of Amercia Silver Dollar Obverse

U.S. Commemorative silver dollars not only help to do a lot of good, they are often a good investment. Proof Buffalo Silver Dollars that sold for $35 when they were issued in 2001 now sell for ten times that.

The U.S. Mint will issue two commemorative silver dollars in 2010. The first was the American Veterans Disabled for Life Silver Dollar, which was released on February 25th 2010.

The second, The Boy Scouts of America Centennial Commemorative Coin, will honor the BSA’s 100th anniversary, which takes place on February 8th, 2010. The issue was authorized by Congress in October of 2008. And the surcharge for the coins will be used to support Boy Scout troops in hard-to-serve locations.

A total of 350,000 proof and uncirculated coins will be produced. Seventeen designs for the obverse and five for the reverse were developed. Secretary of the Treasury Timothy Geithner chose the winning designs on September 16, 2009.

U.S. Mint Artistic Infusion Program Master Designer Donna Weaver designed the obverse, which shows a Cub Scout, a female Venturer, and a Boy Scout saluting. The image reflects the diversity in scouting today. The inscriptions on the obverse include CONTINUING THE JOURNEY, LIBERTY, IN GOD WE TRUST, and the years 1910 and 2010.

2010 Boy Scouts of America Silver Dollar Reverse

U.S. Mint Sculptor-Engraver Charles Vickers designed the reverse which features the emblem of the BSA and the inscriptions ONE DOLLAR, BE PREPARED, UNITED STATES OF AMERICA, E PLURBIS UNUM, and BOY SCOUTS OF AMERICA.

The coins, which are 90% silver and 10% copper, weigh 27.73 grams and are 1.5 inches in diameter. They are available from the U.S. Mint and are scheduled to be released at noon ET on March 23, 2010. Uncirculated and proof silver dollars will be available for the introductory price of $33.95 and $39.85 respectively until April 22, 2010. After that, the price goes to $35.95 and $43.95.

Read about other U.S. Commemorative silver dollars here.

Images from the U.S. Mint.

The reverse side of the coin features an America Bison. Black Diamond, a buffalo in New York’s Central Park, was likely the model.

American Buffalo Silver Dollar

The obverse shows a portrait of a Native American Chief. Fraser used several actual chiefs as models — Iron Tail of the Oglala Sioux tribe, Two Moons of the Cheyenne tribe, and Big Tree of the Kiowa tribe. The three performed in Wild West shows in New York City when Fraser was designing the coin.

Fast forward 80+ years. The U.S. Mint decides to produce a coin to commemorate the opening of the National Museum of the American Indian at the Smithsonian Institution. And a slightly modified version Fraser‘s Buffalo Nickel design was chosen for the coin. On October 27, 2000, President William Clinton signed the law authorizing the creation of the commemorative silver dollar.

Only 500,000 coins were struck. They went on sale on June 1, 2001, and they were sold out by June 21. Originally, the coins sold for $35 apiece but today, proof coins are selling for $250 to $800. A portion of the proceeds from the original sale was used to help supplement the museum’s endowment fund.

American Buffalo Silver Dollar

Buffalo Silver Dollars are 90% silver and 10% alloy, and they weigh 26.73 grams. The uncirculated coins were struck in Denver, and the proof coins were struck in Philadelphia.

The silver dollars are slightly different from the original nickels. The word “Liberty” appears on the obverse to the right of the Chief’s profile. On the reverse, the words “United States of America” and “In God We Trust” appear above the buffalo. And “One Dollar” is visible below.

Coin collectors who jumped on the opportunity and were able to purchase Buffalo Silver Dollars are very glad they did. Especially those who were able to obtain one of the 50,000 American Buffalo Coinage and Currency sets.

If you collect coins, keep tabs on new issues from the U.S. mint.

Read more about collecting silver dollars here.

Photos: U.S. Mint

The vast flow of silver from the Comstock Load enabled a steady stream of silver dollars until the silver supply ran out in 1904.  Between 1918 and 1921, 270 million silver dollars were melted down in order to comply with the Pittman Act of 1918.  And U.S. silver dollars were minted again for a brief time, starting in 1921.

By 1926, silver was in short supply again, and in 1928, production of silver dollars was halted, once again.   To honor U.S. Silver Certificates — dollar bills that could be redeemed for silver — some Peace Dollars were issued between 1934 and 1935.

Since 1935, U.S. dollar coins have either not been silver — such as the Eisenhower Dollar, the Susan B. Anthony Dollar, and the Sacagawea Dollar — or have not been intended for circulation– like the American Silver Eagle coin.  

There are lots of reasons to collect coins.  Beautifully designed coins are tiny, portable works of art.  The best typify the aesthetic of an era — glimpses into another time and place.  And there’s something about being able to feel the relief of the design and the ridges along the rim that makes them even more special.

It doesn’t have to cost a lot of money to get started.  In fact, you could start collecting coins by  just sorting through the coins in your pocket or coin purse and setting them aside in some sort of order.   Once you start paying attention, you’ll be surprised by how many types of coins are in circulation.  

There are lots of coins you could collect.  But U.S. coins are the most collectible, trade the most quickly, and have the most collectors.  You could collect pennies, nickels, dimes, quarters, or half dollars.  But there’s no denying that silver dollars are the most appealing.  The designs are lovely. Silver is a beautiful metal. And there are nice quality coins available in the $20 – $35 range.

So how do you know which coins to buy?

There are several strategies you could adopt.  If you’re collecting as an investment, try to collect a set of coins that have a common denominator.  Specializing in coins released by one mint is a good strategy.  Carson City — “CC” — coins are the most valuable, and expensive.  But “O” coins from New Orleans, or “S” coins from San Francisco are both affordable and highly valuable.

Another method is to collect coins from the same year from all five mints.  This will be a bigger investment, but it will also be more valuable in the long run.  Depending on the year and condition, you could expect to invest about $5,000 and up.

Morgan Silver Dollars are the most collectible because there are lots of good quality coins that are readily available.  Know fair market value of the coin you’re interested in before you buy.  You can consult one of the online buying guides such as www.numismedia.com or buy the Official Red Book Guide to Coin Prices.
Read more about Morgan silver dollars here.

When the U.S. began doing more trade with Asia in the late 19th-century, the Chinese  preferred the Mexican peso over the U.S. silver dollar because the peso contained more silver – 416 grains versus 412.5 grains.

To conduct business in the Far East, American traders had to exchange their silver dollars for pesos, and then pay a commission for the exchange.

By 1873, the situation had become irksome enough for Congress to pass the Coinage Act of 1873, which authorized the issuance of a new silver dollar that would weigh 420 grains.  Called the U.S. Trade Dollar, it was designed by William Barber and replaced the Seated Liberty Silver Dollar.

The obverse of the coin shows Lady Liberty seated on a bale of cotton in front of a sheaf of wheat.  This not-so-subtle imagery showcased America’s leading crops, and the olive branch in her hand was a gesture of peace.  Liberty faces left, or west, another nod to Asian interests.

To advertise the new dollar’s more generous silver content, the term “420 Grains .900 Fine” is inscribed on the reverse below an eagle clutching a brace of arrows and another olive branch.

Most of the Trade Dollars produced between 1873 and 1875 were circulated in China, where they were an immediate hit.  The coin became the official Chinese trade coin, ousting the Mexican peso once and for all.

Many coins from that period have an Asian chop mark used to verify its authenticity.  Depending on the rareness of the chop mark, this can either add or subtract from their value.

The Comstock Load of 1859 had produced more than $400 million dollars worth of gold and silver.  And silver miners began dumping it into U.S. markets.  By 1876, the price of silver had dropped so far that the silver in the Trade Dollar was barely worth 80 cents.

Most of the coins came back to America where they could at least be traded at face value.  But because the bullion in the coins was worth significantly less, many people were duped by swindlers who bought the coins at bullion prices and then used them as dollars to buy goods or pay workers.

Commercial production of Trade Dollars stopped in 1878, but production of proof coins for collectors was begun in 1879.  These coins were produced in very small quantities.  There were only ten in 1884 and five in 1885.

Produced on the sly, their existence was unknown until 1908.  Consequently, they are some of the rarest U.S. coins in existence.

In 1887, the United States Treasury agreed to redeem non-mutilated trade dollars and more than 8 million were turned in.

Just how valuable are these coins?  In January of 2006, an 1885 PF-66 sold for $3.3 million.

Read more about collecting silver dollars here.

One of the best loved and most collected American coins, the Morgan Silver Dollar has a fascinating history.

The Comstock Load from Virginia City, Nevada, was first made public in 1859.  It produced more than $400 million dollars worth of silver and gold, and drove the price of silver way down.

So much so that in 1878, the Bland-Allison Act required the U.S. Treasury to purchase $2 to $4 million worth of silver bullion each month to convert into coins.

The Chief Engraver of the U.S. Mint, George T. Morgan, designed what is now known as the Morgan Silver Dollar.   The elegance and timelessness of the design has made it one of the most popular American coins.  And today, Morgan Silver Dollars run the gamut from affordable to extremely valuable.

In 1890, the Hayes Administration passed the Sherman Silver Purchase Act of 1890, which set the monthly commitment at $4.5 million.  Treasury Bills that could be redeemed for either gold or silver were used for the purchase.

So many bond holders redeemed their notes for gold that the Treasury’s reserves were seriously depleted, and financial panic ensued.  In 1893, the Sherman Act was repealed and production of silver dollars slowed dramatically.

Once the bullion supply for silver dollars basically ran out in 1904, minting of silver dollars ceased.

The Pittman Act of 1918 required the government to convert silver dollars into bullion and then create an equal number of new coins from the bullion.  More than 270 million silver dollars were melted down.

To comply with the Pittman Act, production of the Morgan Silver Dollar resumed in 1921 for a brief period of time.  You’d think that would be the end of the story, but it’s not.

The Silver Act of 1942 resulted in the melting down of even more Morgan Silver Dollars.  In fact, it’s estimated that more than 80% of the Morgan Silver Dollars that were produced are no longer in existence.  That’s why even coins with an original issue of over one million can still be valuable.

In 1962, with a surplus of silver dollars on their hands, the U.S. government began selling original Treasury bags containing 1,000 silver dollars for face value.   News stories about rare coins being included in the bags reignited interest in collecting Morgan Silver Dollars.

But when lots of the formerly rare uncirculated 1903-O coins were released, their value went from $500 to $35 in a matter of months.

During the early 1970s, the General Services Administration packaged and sold off most of the remaining government-owned Morgans, many of which were minted in Carson City.  Morgan Silver Dollars in the original GSA packaging are very collectible.

Probably the most valuable Morgan Silver Dollar is the 1893 proof minted in San Francisco, which is worth more than $1 million.  The 1893-O proof is worth more than $300,000.  The 1895-O and 1896-O MS-67s are worth around half a million.Other sought-after coins include anything minted in Carson City, especially 1889 – which is worth about $500,000 – and the 1892, 1895, 1903, and 1904 coins from San Francisco.

Read more about Peace silver dollars here.

Minted between 1921 and 1928, and again between 1934 and 1935, the Peace Dollar was the last silver dollar minted in the United States.

The Pittman Act of 1918 required that up to 350 million silver dollars be converted into bullion and that for each coin that was converted, a new one had to be minted.  More than 270 million silver dollars — nearly have of all that were ever struck — were melted down.  Paving the way for an equal number of new coins.

The popular Morgan Silver Dollar hadn’t been minted since 1904.  But to comply with the Pittman Act, 86 million Morgan Silver Dollars were produced in 1921.  But a movement was afoot to design a coin that would commemorate the end of World War I.

As the Mint’s chief engraver, George T. Morgan — the designer of the Morgan Silver Dollar — was the likely choice to design the new coin.  But President Warren G. Harding ordered than an open competition be held sponsored by the Commission of Fine Arts.

Nine artists entered the competition, including the designers of the Lincoln Penny, the Mercury Dime, and the Standing Liberty Quarter.  The design of an Italian immigrant named Anthony de Francisci carried the day.  Francisci’s wife was the model for Lady Liberty and his initials are visible under her neck.  Also an immigrant from Italy, she considered modeling for the coin the culmination of a lifelong dream.

The Peace Dollar is so named because the word “peace” appears at the base of the rock on which the eagle is perched.  Morgan did have a hand in the design.  He replaced the broken sword in the eagle’s beak with a more pacifist olive branch.

The first Peace Dollars were minted on December 26, 1921, but there were problems with the design.  The relief of the coin was so high that the dies used to produce it were breaking at record pace.  And the coins didn’t stack well.   The next year, the design was modified to lower the relief.

In 1928, the number of new silver dollars produced finally equaled the number melted down in compliance with the Pittman Act, and production stopped.   To back up existing silver certificates — paper dollars that could be redeemed for silver — some additional Peace Silver Dollars were minted between 1934 and 1935.

In May of 1964, 316,000 Peace Silver Dollars were struck in Denver.  But by order of Congress, all those coins were melted down.  There are rumors that there are still some in existence, but owning them is illegal.

Several Peace Dollars are valuable.  Extra-fine 1921, 1928-P, and 1934-S Peace Dollars are worth a bundle.   And extra-fine 1925 and 1928-S are also valuable.

Read more about the history of U.S. silver dollars here.

Although the Massachusetts Bay Colony began issuing paper money in 1690, the British Currency Act of 1764 made it illegal for any of the colonies to print their own money.

As a result, many foreign currencies were circulated in America prior to the Revolutionary War.   Coins from Europe, especially the Spanish silver dollars known as “pieces of eight,”  were relatively common.   And these coins, minted in Mexico from Central and South American silver, were legal tender in the United States until 1857.

The British Currency Act also required colonists to pay their taxes to Britain in gold or silver, a hardship which contributed to the unrest that led to the war.   By 1774, the colonists were dumping tea in Boston harbor.  And by 1775, the Continental Congress began issuing paper money — the Continental — in order to finance the war.

Because of public and political mistrust of paper money — even Jefferson went on record against it — and the absence of solid financial backing, the Continental was never widely adopted.  The French promised to send silver bullion for the production of American coins, and printing of the one-dollar notes ceased.

But the bullion never arrived from France.   And in 1776, the Continental Congress authorized production of the first silver coin.  The financial strain of the war sidelined the initiative and a circulating silver coin was not produced at that time.

During the 1780s, Massachusetts, New Hampshire, Vermont, New Jersey, and Connecticut were all producing copper coins.   By 1792, the currency situation in the newly formed states was a disaster.  So one of Congress’s first orders of business was tackling it.

The Coinage Act of 1792 authorized a salary for the Director of the Mint and established standards for new coins, such as inclusion of the words “United States of America” and the year of the coinage.  The first stone was laid for the first American mint that summer in Philadelphia.

Without a steady supply of bullion, coin production and circulation was spotty.   But on October 15, 1794, the Mint released the first 1,758 U.S. silver dollars.   The silver dollars minted between 1794 and 1795 are known as the Flowing Hair variety.  Those produced between 1795 and 1804 are the Draped Bust variety.

They were produced in varying quantities until 1806 when President Thomas Jefferson suspended production.

Since 1794, the United States has produced five other silver dollars: The 1804 Silver Dollar — one of the rarest coins in the world, the Seated Liberty Silver Dollar, the Trade Dollar, the Morgan Silver Dollar, and the Peace Dollar.

Read more about U.S. Trade silver dollars here.