Are silver dollars still in circulation?

Answer 1

The US makes tons of $1 coins for circulation, but they're made of brass, not silver. Silver was deregulated back in the 1960s and no silver coins have been made for circulation since then.

There are "dollar" bullion coins containing 1 oz. of silver that are sold to investors and collectors, but the denomination is artificial. You can't spend them.

Answer 2

The last US silver dollars struck for circulation were made in 1935. Circulating $1 coin production wasn't resumed until 1971(*) and those coins were made of copper-nickel. Copper-nickel dollars were minted on and off up till 1999. In 2000 the composition was changed to brass so that the coins would be distinctive and easier to recognize in change.

In any case silver isn't used in modern circulating coins because it's too expensive. A dollar's worth of silver today would make a coin smaller than a penny.

Commemorative silver dollars are still being made. They're struck to honor various subjects such as the bicentennial of the Constitution, General Eisenhower, the Olympics, etc. They're only sold to collectors at prices much higher than $1.

In addition, "silver eagle" coins are sold to investors. They're denominated as $1 but it's purely artificial to meet legal requirements. Their price is actually based on the cost of silver bullion.

(*) To be strictly correct, a trial run of about 330,000 1964 Peace dollars was made as part of plans to resume the denomination. Before full production could resume the price of silver skyrocketed to the point where the coins would have been worth $15 or $20 each. To prevent speculation all were melted, except for a couple that are rumored to have been secretly saved.

Answer 3

It depends on what you mean by "silver dollar". The last dollar coins containing silver were struck for circulation back in 1935. They're worth considerably more than $1 both for their silver content and as collectibles so effectively all of them have been removed by collectors, dealers, and speculators.

However $1 coins that are incorrectly called "silver" dollars have been minted since 1971. The large-size Eisenhower coins were unpopular because of their weight and like their silver predecessors are no longer seen. However small-size brass dollars minted since 2000 continue to see limited use, especially in areas with automated systems such as transit fareboxes and parking meters where they're a convenient payment method.

The single biggest impediment to $1 coins' use is the refusal of Congress to eliminate the $1 bill and authorize a redesigned, widely-used $2 bill or $2 coin, the practice in every other major country.

Answer 4

Yes and no. There are no silver coins produced for circulation in the US since the 1960s, but since the 1980s there has been the American Silver Eagle produced, it has a face value of one dollar and is made out of one troy ounce of pure silver. Now, the silver value far outstrips the face value of the coin and it is not the same size as the Morgan or Peace dollars, though. There are also commemorative dollars made in silver, but they, like silver eagles, aren't intended for circulation.

Answer 5

The mint still makes dollar coins but they are not silver. In 1964 true silver dollars stopped due to the rising price of silver. Silver dollars can still be bought at coin shops and are not really expensive.

Answer 6

Technically, silver dollars are still legal tender. So yes you can.

However it wouldn't make much sense to spend a real silver dollar (dated 1935 or earlier) for $1 because the silver metal alone is worth around $30 as of early 2012.

Now if you're using the words "silver dollar" to mean any of the $1 coins minted since 1971, these are made of either brass or copper-nickel are are only worth $1.

Answer 7

No. The last circulating silver dollar was minted in 1935. Then in the 1970s, large dollar coins were minted again, but they were nickel-coated copper. The silver versions were only minted for collectors.

Since 1986, the U.S. has minted the Silver Eagle, which is a one troy ounce silver bullion round with a face value of one dollar, but it's worth much more than one dollar and isn't meant for circulation.

Answer 8

The last year for actual silver dollars was 1935. Then in the 1970s, there were the large Eisenhower dollars, but they're made of the same nickel/copper blend as modern dimes and quarters. The silver versions were produced specifically for the collector market. The US Silver Eagle is a 1-ounce silver bullion round with a face value of one dollar, but the melt value is far greater.