Silver Eagle Coins
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Silver eagle coins are one of the many types of coinage offered from the United States mint, and the diversity of collections offers many areas of interest for collectors. The legal tender denominations were available in three cent, half-dime, dime, twenty cent, quarter dollar, half dollar, and dollar. Silver dollar coins are the most popular collector's item today. The most famous is the Morgan Silver Dollar. This coinage is large and richly colored. First minted in 1878 until 1904, then again in 1921; the mints that were producing were in the cities of Philadelphia, New Orleans, San Francisco, and Carson City. Until 1965; all dimes, quarters, and half dollars were minted with 90% silver alloy and 10% copper. Three out of the above mentioned seven denominations are obsolete; these were the three cent, the half dime, and the twenty cent. The three cent coin was developed to make the postage of three cent stamps easier. They were also the smallest coin ever minted. The half dime was replaced by the nickel. The twenty cent piece lost its popularity because of its resemblance to the quarter. It was only minted for four years, and the last two years only proofs for collectors were produced.
Silver was considered to be a rare and noble metal; the metal was also a desirable medium for exchange in history. During the early years of US coinage, the precious metal was scarce, and at times was even more valuable than gold. There was even a break in the production of silver dollar coins from 1804-1836 because of the rarity of the metal. The discovery of the "Comstock Locke" in 1850 in Nevada found mass quantities of the metal that could restart the production of the coin. At most times in history, the coinage was not 100% of the precious metal. Silver eagle coins, however, boasted a full 100% silver totaling a full troy ounce. This was never intended to be circulated as money. It will always be worth at least 5 times its face value. In the early days when the metal was worth more than the face value, hoarding of the coinage occurred. Consequently, the value of a dollar rose significantly and became a higher value than the metal used to create the money. In 1918, there was a huge melt of the metal and in 1921 production of the coinage began again.
There have been many start and stop dates of production throughout United States history. The silver eagle coins were only minted in three mints nationwide; these were Philadelphia, San Francisco, and West Point. The most readily available silver dollar coins are the Morgan and the eagle. Since they are relatively inexpensive, many people can afford to collect these replicas of history. There are however, certain dates of production that will raise the worth of the coinage. The most important dates are the 1889 and 1893 Carson City; the 1893, 1895, and 1903 New Orleans; the 1893, 1894, and 1895 San Francisco; and the 1893, 1894, 1895, 1899, 1921,1928 Philadelphia; and also the 1995 West Point. Of these, the 1895 'P' is one of the rarest and can be worth at least $11,000 in excellent condition. The highest worth on a dollar is the 1893'S' which values at over $250,000 in its highest grade condition. Collecting these items can be fun and rewarding. Continually searching auction sites or classifieds for those who are unaware of the worth of these items is a good idea. Many coins have been found this way, and can be discovered to be worth tremendous amounts of money. It is important to remain in good spirits when coin collecting, and not to concentrate too much on only gathering coins that can bring riches.
Christians are supposed to remain detached from the material things of this world; especially money and the desire for riches and power. "For the throne is established by righteousness. Righteous lips are the delight of kings; and they love him that speaketh right. The wrath of a king is as messengers of death: But a wise man will pacify it. In the light of the kings countenance is life; and his favor is as a cloud of the latter rain. How much better is it to get wisdom than Gold?" (Proverbs 16:12b-16a). Silver eagle coins and silver dollar coins can still be traded as a medium for exchange in some parts of the world where the metal is scarce and has a high value. In the US, it is only used in bullion, commemorative and proof sets and no longer in legal tender. Around the world, however, mints are producing coinage and legal tender to include higher percentages of silver. It is interesting to see how diverse the worth and value of a single metal can be when traveling around the globe. One mans garbage truly can be another man's riches.
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