Background
Coinage began on the first United States silver dollar, known as the Flowing Hair dollar, in 1794 following the construction and staffing of the Philadelphia Mint. The Coinage Act of 1792 called for the silver coinage to be struck in an alloy consisting of 89.2% silver and 10.8% copper. However, Mint officials were reluctant to strike coins with the unusual fineness, so it was decided to strike them in an unauthorized alloy of 90% silver instead. This caused depositors of silver to lose money when their metal was coined. During the second year of production of the Flowing Hair dollar, it was decided that the denomination would be redesigned. It is unknown what prompted this change or who suggested it, though numismatic historian R.W. Julian speculates that Henry William de Saussure, who was named Director of the Mint on July 9, 1795, may have suggested it, as he had stated a redesign of the American coinage as one of his goals before taking office. It is also possible that the Flowing Hair design was discontinued owing to much public disapproval.
Read more about this topic: Draped Bust Dollar
Famous quotes containing the word background:
“I had many problems in my conduct of the office being contrasted with President Kennedy’s conduct in the office, with my manner of dealing with things and his manner, with my accent and his accent, with my background and his background. He was a great public hero, and anything I did that someone didn’t approve of, they would always feel that President Kennedy wouldn’t have done that.”
—Lyndon Baines Johnson (1908–1973)
“Pilate with his question “What is truth?” is gladly trotted out these days as an advocate of Christ, so as to arouse the suspicion that everything known and knowable is an illusion and to erect the cross upon that gruesome background of the impossibility of knowledge.”
—Friedrich Nietzsche (1844–1900)
“In the true sense one’s native land, with its background of tradition, early impressions, reminiscences and other things dear to one, is not enough to make sensitive human beings feel at home.”
—Emma Goldman (1869–1940)