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What is a silver dollar?

In numismatic circles, the US silver dollar is nothing less than an institution. From 1794 to 1935, the United States issued dollar coins in silver.

When did the silver dollar become a monetary standard?

The Spanish silver dollar created a global silver standard from the 16th to 19th centuries. The silver standard [a] is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians c. 3000 BC until 1873.

What really backs the US dollar?

What Really Backs the U.S. Dollar? Since 1971, U.S. citizens have been able to utilize Federal Reserve notes as the only form of money, and for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. government.

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