Recommendations for the Connoisseur: It is bargain time among early silver dollars, and with the exception of coins in higher Mint State levels, nearly all varieties are cheaper now than they were 10 to 15 years ago! Start with a type set of the three designs. VF-20 to EF-40 are very affordable grades, although higher grades are even nicer to own. There are many die varieties among 1794-1803 dollars. If you obtain a copy of Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia, you can have a field day, especially with slabbed coins, as most are not marked as to variety, and sometimes you don't have to pay a great premium for rarities.

Elite Recommendations: Aspire to acquire as many major varieties as you can in AU-50 or better grade, acquiring the occasional MS-60 or finer piece as it comes on the market.

Liberty Seated Dollars (1836-1873)

After the pieces dated 1803, no dollars were struck for circulation until 1836, in which year Christian Gobrecht's Liberty Seated design was produced, possibly as a pattern, for all were made with Proof finish, hardly the format to use for business strikes. However, nearly all of the 1,000 pieces struck in 1836, and 600 additional 1836-dated pieces struck on March 31, 1837, were deliberately placed into circulation by the government. Therefore, these are de facto business strikes, no argument. Certain varieties of Liberty Seated patterns were also made dated 1836, and additional pieces were produced in 1838 and 1839. In the latter year some 300 pieces were produced for circulation, again with Proof finish. The last word has not been written on this subject, although the author's book, Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia, gives much information.

Beginning in 1840, silver dollars were again struck in large quantities for circulation, during which year 61,005 were minted. The obverse featured the Liberty Seated design with stars, while the reverse depicted a perched eagle similar to that found on quarters and half dollars of the era. Liberty Seated dollars were produced continuously through 1873, with a design modification in 1866 when the motto IN GOD WE TRUST was added to the reverse.

Several prime rarities were produced during that span, including the 1851, of which 1,300 originals were made, and the 1852, struck to the extent of 1,100 pieces. Another famous dollar is the 1858, struck only with Proof finish, quite possibly to the extent of only about 300 coins, equal to the number of silver Proof sets believed to have been sold by the Mint that year. No 1858 dollars were made for general circulation.