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Act of April 17, 1862 Amended September 23, 1862 $170,000,000 (i) $5,000,000 (ii) $1, $2, $10, $20, $100: Introduced $1 and $2 notes, and $100 interest-bearing notes (2 cents per day) Fifth [20] Act of October 13, 1862 $90,000,000 [n 1] $1, $2, $5, $10, $20, $50, $100: Payable six months after ratification of a treaty. Lower denominations ...
The value of silver dollars can vary greatly, whether it’s the 1964 Kennedy half dollar or the 1922 silver dollar coin. And some rare specimens fetch astounding amounts at auctions.
By 1862, the second year of the Civil War, government-issued coinage began vanishing from circulation. American citizens hoarded all coins with gold and silver, and eventually began hoarding copper-nickel cents as well. This made it extremely difficult for businesses to conduct transactions.
Although Pollock reported hoarding of cents in his June 1864 report, he did not thereafter mention such activities. Silver coins still did not circulate in much of the nation, and the new coins (joined by the three- and five-cent pieces of copper-nickel, first struck in 1865 and 1866 respectively) answered the need for small change. [36]
On quarter, half dollar, and silver dollar coins, the reverse featured a central eagle about to take flight, with a striped shield upon its breast. The eagle clutched an olive branch of peace in its right talons and a group of arrows in its left talons. Above the eagle around the rim were the words "United States of America" and below the eagle ...
In 1862, the greenback declined against gold until by December, gold had become at a 29% premium. By spring of 1863, the greenback declined further, to 152 against 100 dollars in gold. However, after the Union victory at Gettysburg , the greenback recovered to 131 dollars to 100 in gold.
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