The coinage act of 1792 saw the dollar first introduced as the standard monetary unit in America and since then American money has changed numerous times both in design and composition and indeed the dollar itself was discontinued between 1935 and 1971. Prior to 1935 the dollar was traditionally made of silver but because of a widespread world shortage of silver a new coinage act was passed in 1965 that changed the composition of coins from predominantly silver to a metal alloy. The widespread use of certain coins has also fluctuated greatly, the half dollar that was previously very popular suddenly became almost obsolete in 1964 and it was only really in1971 with the introduction of the silverless half dollar that it retained any of it's popularity. 1965 saw the half dollar trimmed from pure silver to only 40% silver and then in 1971 the use of silver was eliminated altogether.
The Eagle Coins
Particularly popular coins from the USA are normally based on the Eagle coins. Ten dollar coins were produced from 1795 right up until 1933 made of pure gold and because of the Eagle design on them they became known as the Gold Eagle. Quarter Eagles, Half Eagles and Double Eagles were also produced during this time and some have become both very rare and incredibly valuable although getting hold of one is almost as difficult as being allowed to keep it. In 1933 nearly half a million Double Eagle gold coins were produced in the United States but the president Franklin Roosevelt had them taken out of production meaning they were never released to the general public.
The infamous 1933 Double Eagle US coins
All but two of these infamous US coins were supposed to be destroyed but a very small number made it into the hands of the public where they remained. To date 20 of these coins have been found and reclaimed by the American Federal Government, one was even auctioned off in 2002 raising a staggering $7 million. Recently 10 more were found by one lucky family but unluckily (indeed many are saying foolishly) the American government have confiscated them and had them placed in Fort Knox. There are no plans for these coins to be auctioned off and they may become a public exhibit at a museum.
US Mints
The Philadelphia mint was the first mint to create US coins and has been in constant operation since with the addition of Denver mint in 1906. West Point, New York and San Francisco mints were subsequently opened in 1988 and are still producing now. Four further mints have been shut down with no further US coins expected to be created from behind their doors. The phrase 'In God We Trust' that features on every new US coin was first used on the two-cent coin in 1864 and by 1916 all coins had featured this motto. The phrase was removed from the nickel between the years 1883 and 1938 but since then every single US coin that has been minted features that very same motto.
Commemorative coins
Commemorative coins are regularly passed as special acts of Congress but future collectors buy these at a premium and so they regularly make it into general circulation. However they are usually produced in their thousands, sometimes millions so getting hold of one for your collection won't necessarily be difficult or cost you an exorbitant amount of money. These commemerative coins are usually made from silver, gold or other precious metals and are sold in display packs so they are almost always in excellent condition with absolutely no scuff or general wear and tear marks on them.
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