Silver dollars were commonplace in the rural south and western states. Population centers from Virginia north and about Milwaukee eastward preferred paper currency and smaller denomination coins. One dollar had a lot of buying power for a working-class family. This made smaller coins preferable since just one quarter could buy food for dinner (and more) and the balance of family cash could be left safely at home.
Here's an example from 1924 of Treasury trying to force dollar coins into circulation:
@RogerB said:
Brandt Cashier and other companies made solid, reliable, accurate coin counters and dispensers for businesses. This was still the age of weekly cash wage envelopes, and company cashiers used machines to dispense correct payroll amounts to hundreds of workers every Saturday at noon.
That is true, but silver dollars didn't circulate much. The highest coin payments would have been half dollars.
In over 35 years as a professional numismatist, I saw a LOT of circulated silver dollars. They did circulate enough to cause all that wear.
I don't disagree, but I never saw a dollar in my dad's pay envelopes. What is the ratio of circulated to BU dollars vs Half dollars?
Don't think the coins are comparable. The government never made hundreds of millions of half dollars intended for long-term storage that then came out just as silver was being hoarded.
Then there is the weight factor. Silver dollars had a much lighter paper equivalent, skewing the demand towards the lighter equivalent. There was no weight advantage or disadvantage towards using one half dollar vs. two quarters, just a slight advantage in the time spend counting out the coins.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@RogerB said:
Brandt Cashier and other companies made solid, reliable, accurate coin counters and dispensers for businesses. This was still the age of weekly cash wage envelopes, and company cashiers used machines to dispense correct payroll amounts to hundreds of workers every Saturday at noon.
That is true, but silver dollars didn't circulate much. The highest coin payments would have been half dollars.
In over 35 years as a professional numismatist, I saw a LOT of circulated silver dollars. They did circulate enough to cause all that wear.
I don't disagree, but I never saw a dollar in my dad's pay envelopes. What is the ratio of circulated to BU dollars vs Half dollars?
Don't think the coins are comparable. The government never made hundreds of millions of half dollars intended for long-term storage that then came out just as silver was being hoarded.
Then there is the weight factor. Silver dollars had a much lighter paper equivalent, skewing the demand towards the lighter equivalent. There was no weight advantage or disadvantage towards using one half dollar vs. two quarters, just a slight advantage in the time spend counting out the coins.
When my dad was in basic training at Fort Dix, he would send home his pay and have his mother (my grandmother) send him silver dollars back. The guys from the eastern US had never seen a silver dollar before, and were more than happy to pay $2 to get one. Easy way to double your paycheck.
Comments
I've always heard that the "circulation" of Dollars was due to their constant churn in casinos.
http://macrocoins.com
Silver dollars were commonplace in the rural south and western states. Population centers from Virginia north and about Milwaukee eastward preferred paper currency and smaller denomination coins. One dollar had a lot of buying power for a working-class family. This made smaller coins preferable since just one quarter could buy food for dinner (and more) and the balance of family cash could be left safely at home.
Here's an example from 1924 of Treasury trying to force dollar coins into circulation:
Don't think the coins are comparable. The government never made hundreds of millions of half dollars intended for long-term storage that then came out just as silver was being hoarded.
Then there is the weight factor. Silver dollars had a much lighter paper equivalent, skewing the demand towards the lighter equivalent. There was no weight advantage or disadvantage towards using one half dollar vs. two quarters, just a slight advantage in the time spend counting out the coins.
Exactly what I said.
When my dad was in basic training at Fort Dix, he would send home his pay and have his mother (my grandmother) send him silver dollars back. The guys from the eastern US had never seen a silver dollar before, and were more than happy to pay $2 to get one. Easy way to double your paycheck.