The Silver Dollar
The silver dollars coined had 46 grains of silver, the standard set by the Spanish dollar. The treasury also coined half dollars, quarters, dimes, and half dimes, all of which had proportionate quantities of silver. The worth of gold eagles was also determined relative to silver, with each gold eagle worth ten silver dollars. The Silver Dollar was a great choice for us. Many of your old US silver coin values are tied closely to the price of silver. Pre 1965 silver dimes, quarters, half dollars and silver dollars are all heavy with 90% silver and worth many times their face value. With today's high value of silver; $29.48 per ounce as of 2/1/2021 your old silver dollars are becoming surprisingly valuable. The US minted the 1971 S Eisenhower silver dollar as an uncirculated coin and also as a proof coin. Most of the coins minted were proof coins. The mint mark can be found above the date. Note that not every 1971 Eisenhower dollar is a silver coin.
The Silver Dollar Louisville Ky
The 'Silver Dollar Salute.'
The first salute is a old tradition for all US Service Branches in which newly commissioned officers give a silver dollar to the person from whom they receive the very first salute of their career.
While no one knows for sure where this tradition originated, some suggest that it was passed on from British regiments garrisoned in the US during the colonial era. Of course at the time it would not have been a 'dollar' as we know it. As the story goes, some of their traditions and customs were passed on to newly formed American units. New officers were assigned an enlisted adviser who showed them the ropes, taught them the regimental history as well as the ins and outs of the military profession. Lieutenants compensated their enlisted adviser with a small amount of money.
American Second Lieutenants in the early 1800's, received about $25 monthly as base pay, a rations allowance of about $3, and an additional allowance of $1 for their enlisted adviser. While the adviser's pay was eventually discontinued, the responsibility for mentoring the newly commissioned officer continued. This relationship is thought to be the basis for this tradition.
By tradition, a dollar coin is the only coin given in exchange for the first salute. While the coin may be just one dollar in denomination, it represents a value far greater. To new officers it may represent the respect found in ones newly earned rank and position. A twist on the thinking for the silver dollar salute is that the new officer must buy his first salute as he has not yet by the nature of his deed alone, earned it!
The Silver Doll
This coin should represent the deep-felt gratitude for the mentor ship and lessons imparted by the Non Commissioned Officer on his Lieutenant before he sends him out into the world to embark in the brotherhood and profession of arms. The silver in a true silver dollar really represents the fidelity to a standard and this coin will be a store of value both in the memory it makes, its intrinsic value as a precious metal, and its part in American history.
Some of the most often used coins for this tradition are Morgan and Peace Dollars, the American Silver Eagle, Eisenhower Dollars (40% Silver variant) and Modern Commemorative Dollars.
Honor you enlisted mentor and the First Salute tradition by presenting a Real Silver Dollar!
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