A United States commemorative coin, authorized by Public Law 103-302, honored the seventh President of the United States. Minted in 1993, this legal tender contained 90% silver and 10% copper. Proceeds from the sale of this item benefited the Hermitage, Andrew Jackson’s home.
This numismatic piece served not only as a tribute to a significant figure in American history but also as a means of supporting the preservation of his legacy. Its creation and sale provided a tangible link to the past and a financial contribution towards maintaining an important historical site. The silver content added intrinsic value, making it attractive to collectors.
The production and release of these collectible coins led to increased interest in historical figures and landmark locations. Subsequent sections will delve into details regarding the coin’s design, mintage figures, and its place within the broader context of American commemorative coinage.
1. 1993 Commemorative Coin
The designation “1993 Commemorative Coin” precisely situates the andrew jackson silver dollar within a specific timeframe and category. It indicates that the silver dollar was issued as part of a program celebrating a particular event or individual during that year. Understanding this context is crucial because it explains why the coin was produced in the first place. Without the commemorative designation, it would simply be a silver dollar with the likeness of Jackson, potentially circulating as currency. The 1993 date also places it within a specific era of U.S. commemorative coin production, influencing factors like minting techniques and design aesthetics.
For example, the 1993 date is critical because the US Mint produces commemorative coins almost every year. Each year has a specific theme or person it honors. Other coins were also issued in 1993. Knowing it is part of the 1993 series is important for collectors who specialize in this area. This designation defines the purpose, establishes its limited availability, and dictates its eligibility for inclusion in collections focusing on specific historical periods or subjects.
In summary, the “1993 Commemorative Coin” label is not merely a descriptor; it is an essential identifier that defines the piece’s purpose, historical context, and collectibility. This understanding differentiates the coin from regular circulating currency and establishes its value as a limited-edition tribute. This knowledge is the basis for any collector or historian assessing its value and significance.
2. Hermitage Beneficiary
The designation “Hermitage Beneficiary” highlights a direct connection between the sale of the andrew jackson silver dollar and the preservation of a vital historical site. This facet underscores a unique aspect of commemorative coin programs: their ability to generate funding for specific causes. The Hermitage, Andrew Jackson’s home and estate, directly benefited from the revenue generated by the coin’s sale.
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Funding for Preservation
A portion of the proceeds from the sale of each andrew jackson silver dollar was earmarked for the preservation and maintenance of The Hermitage. This funding supported efforts to restore and protect the historic buildings, grounds, and artifacts associated with Jackson’s life and presidency. This direct financial contribution ensured the continued accessibility and educational value of the site for future generations.
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Educational Outreach
Beyond physical preservation, the funds also bolstered educational outreach programs at The Hermitage. This encompassed initiatives aimed at educating the public about Jackson’s life, the history of the Hermitage plantation, and the broader context of the early 19th century. The sale of the coin thus contributed to a wider understanding of American history and its complexities.
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Increased Awareness
The association of the commemorative coin with The Hermitage raised public awareness of the historical site. The coin itself served as a miniature advertisement, prompting individuals to learn more about Jackson’s legacy and the importance of preserving historical landmarks. This increased visibility potentially translated into higher visitor numbers and greater engagement with the site’s educational offerings.
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Endowment Support
A portion of the revenues may have also been allocated towards the Hermitage’s endowment fund. This ensured the long-term financial stability of the organization, enabling it to continue its preservation and educational mission in perpetuity. By contributing to the endowment, the commemorative coin helped to secure the future of The Hermitage as a vital historical resource.
In essence, the “Hermitage Beneficiary” aspect of the andrew jackson silver dollar demonstrates how numismatic initiatives can directly support historical preservation and education. It highlights a symbiotic relationship where the sale of a commemorative object contributes to the safeguarding of a tangible link to the past. This connection between the coin and The Hermitage amplifies the significance of both, enriching the historical landscape.
3. 90% Silver Content
The designation “90% Silver Content” is a critical attribute of the andrew jackson silver dollar. This specification denotes the coin’s composition, directly influencing its intrinsic value and collectibility. The silver content represents a substantial portion of the coin’s overall worth, distinguishing it from base metal coinage.
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Intrinsic Value
The andrew jackson silver dollar, containing 90% silver, possesses inherent value tied to the fluctuating market price of silver. This distinguishes it from coins composed of less precious or non-precious metals. The silver content provides a baseline worth independent of its numismatic or commemorative value. For instance, during periods of heightened silver prices, the melt value of the coin would increase, potentially exceeding its face value of one dollar. This characteristic makes it appealing to both collectors and precious metal investors.
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Historical Significance
The use of 90% silver in U.S. coinage, including commemorative issues, harkens back to a historical precedent. This standard was common in many silver coins produced during earlier periods in American history. Using this standard gave the silver dollar historical significance. The andrew jackson silver dollar’s adherence to this established tradition connects it to a lineage of U.S. silver coinage, adding to its historical appeal.
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Collectibility and Preservation
The 90% silver composition contributes to the coin’s collectibility. Silver coins often develop a unique patina over time, enhancing their visual appeal to collectors. Furthermore, silver is generally more resistant to corrosion than base metals, potentially aiding in the coin’s long-term preservation. Careful storage and handling can maintain the coin’s condition, preserving its aesthetic and monetary value. The higher silver content of the andrew jackson silver dollar has made it a key target for coin collectors.
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Minting Precision and Quality
The 90% silver content requires specific minting processes to ensure consistent quality and accurate weight. The U.S. Mint employed established protocols for alloying and striking silver coins, ensuring uniformity in the andrew jackson silver dollar’s production. The precision involved in maintaining the specified silver content contributed to the coin’s reputation for quality and craftsmanship.
In summary, the “90% Silver Content” of the andrew jackson silver dollar is not merely a technical specification; it is a defining characteristic that influences its intrinsic value, historical context, collectibility, and minting quality. This attribute positions the coin as a tangible asset with lasting worth, appealing to collectors, investors, and those interested in preserving historical artifacts. The 90% silver gives collectors a more intrinsic desire to obtain the coin as part of their collection.
4. Public Law 103-302
Public Law 103-302 directly authorized the creation and issuance of the andrew jackson silver dollar. Without this legislative action, the coin would not exist. This law provided the legal framework for the U.S. Mint to design, produce, and distribute the commemorative coin. Specifically, it outlined the coin’s specifications, including its design theme, metal composition (90% silver), denomination, and the quantity to be minted. This legislative act is not a mere formality; it is the foundational requirement for any U.S. commemorative coin program. The law explicitly directed that surcharges from the coin sales would benefit The Hermitage, Andrew Jackson’s home, demonstrating the law’s purpose beyond simply producing a collectible coin. For example, the law specified that the coin honor the bicentennial of Jackson’s birth, dictating the historical narrative the coin was intended to represent.
Further examination of Public Law 103-302 reveals its broader significance within the context of U.S. commemorative coinage. The law represents a conscious decision by Congress to utilize numismatics as a tool for both honoring historical figures and supporting cultural institutions. It sets a precedent for future commemorative coin programs, establishing a model for public-private partnerships in preserving historical landmarks. For instance, subsequent commemorative coin programs often follow a similar structure, where legislation authorizes the coin, specifies its characteristics, and designates a beneficiary organization. Without that authorization the andrew jackson silver dollar would not have been legally produced by the U.S. mint.
In conclusion, Public Law 103-302 is an indispensable element in understanding the significance of the andrew jackson silver dollar. It is the legal foundation upon which the coin’s existence rests. Recognizing the role of this law provides crucial insight into the motivations behind its creation, its intended purpose, and its lasting impact on both numismatics and historical preservation. By understanding the law, collectors can appreciate the full context of the coin and value it more than just the physical properties.
5. One Dollar Denomination
The “One Dollar Denomination” designation is a fundamental characteristic of the andrew jackson silver dollar, establishing its face value and legal tender status. This aspect defines its function within the U.S. monetary system, affecting its circulation, use, and perception by the public.
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Legal Tender Status
As a coin with a “One Dollar Denomination”, the andrew jackson silver dollar was technically considered legal tender at the time of its issuance. This meant it could legally be used to settle debts, both public and private. However, due to its commemorative nature and silver content, it was rarely used in everyday transactions. The legal tender status is significant, differentiating it from medals or tokens, which do not possess such standing.
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Face Value vs. Intrinsic Value
The “One Dollar Denomination” represents the coin’s nominal face value, distinct from its intrinsic value derived from its silver content and its numismatic value as a collectible. While its face value remained constant at one dollar, its intrinsic and collectible values fluctuated based on market conditions and collector demand. This discrepancy between face value and actual worth contributed to its primary use as a collectible item rather than circulating currency.
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Symbolic Representation
The “One Dollar Denomination” is symbolically linked to the historical significance of the silver dollar in American coinage. Throughout U.S. history, the silver dollar has represented a standard unit of currency and a symbol of economic stability. While the andrew jackson silver dollar maintained this denomination, its commemorative nature shifted its primary role from a medium of exchange to a representation of historical memory and a collectible asset.
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Pricing and Surcharges
The “One Dollar Denomination” also indirectly impacted the pricing structure of the commemorative coin. The U.S. Mint sold the coin at a price significantly higher than its face value, incorporating a surcharge to benefit The Hermitage. This surcharge, permissible under the authorizing legislation, allowed the coin to serve both as a collectible and a fundraising mechanism. The face value provided a baseline for understanding the cost and value proposition of the coin for potential buyers.
In conclusion, the “One Dollar Denomination” of the andrew jackson silver dollar is a multifaceted element, influencing its legal status, value perception, symbolic representation, and pricing structure. While nominally a circulating currency, its commemorative nature and silver content transformed it into a collectible item with a unique place within the American numismatic landscape. The denomination, while seemingly straightforward, is integral to understanding the coin’s intended purpose and its relationship to both the U.S. monetary system and the historical legacy of Andrew Jackson.
6. Limited Mintage
The concept of “Limited Mintage” is central to understanding the value and desirability of the andrew jackson silver dollar. This restriction on the number of coins produced directly impacted its collectibility and market dynamics.
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Enhanced Collectibility
A limited mintage significantly increases the collectibility of the andrew jackson silver dollar. When the U.S. Mint announces a maximum production number, collectors recognize that the availability of the coin will be finite. This scarcity drives demand, as collectors seek to acquire the coin before it becomes difficult or expensive to obtain. The perceived rarity adds to the allure, making it a more sought-after item in numismatic circles.
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Price Appreciation Potential
Due to its limited availability, the andrew jackson silver dollar possesses potential for price appreciation over time. As the number of available coins decreases due to attrition (damage, loss, or placement in permanent collections), the remaining coins become more valuable. Market forces of supply and demand dictate that the price will increase as fewer coins are available to meet collector interest. This potential for financial gain incentivizes collectors and investors to acquire the coin, further fueling demand.
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Exclusivity and Prestige
Owning a andrew jackson silver dollar from a limited mintage provides a sense of exclusivity and prestige. Collectors who possess the coin are part of a smaller group who appreciate its historical significance and numismatic value. This exclusivity enhances the collector’s sense of accomplishment and contributes to the overall enjoyment of collecting. Displaying or owning such a coin becomes a statement of discerning taste and a commitment to preserving historical artifacts.
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Impact on Marketing and Distribution
The limited mintage influenced the marketing and distribution strategies employed by the U.S. Mint. Awareness of the limited quantities encouraged collectors to purchase the coins promptly upon release. The Mint often employed lotteries or order limits to ensure fair distribution, preventing large-scale acquisitions by a few individuals and maximizing the number of collectors who could obtain the coin. This careful management of distribution further contributed to the coin’s perceived scarcity and desirability.
These factors demonstrate how the “Limited Mintage” designation is not merely a production constraint but a crucial element that shapes the andrew jackson silver dollar’s value, collectibility, and market dynamics. The scarcity created by the limited mintage is a driving force behind the coin’s enduring appeal to collectors and investors alike. As time goes on the limited quantity gets even smaller, raising prices even more.
7. Bicentennial Honoree
The designation “Bicentennial Honoree” is intrinsically linked to the andrew jackson silver dollar, establishing the coin’s purpose as a commemorative tribute. It signifies that the coin was issued to celebrate the 200th anniversary of Andrew Jackson’s birth, grounding the numismatic piece in a specific historical event.
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Historical Contextualization
As a “Bicentennial Honoree,” the andrew jackson silver dollar serves as a tangible artifact of a specific historical commemoration. The U.S. Mint designed the coin with imagery and inscriptions intended to reflect Jackson’s life, presidency, and legacy. The coin, therefore, encapsulates a particular interpretation of Jackson’s historical significance, shaped by the bicentennial observances.
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Commemorative Design Elements
The “Bicentennial Honoree” status directly influenced the design choices made for the andrew jackson silver dollar. The obverse featured a portrait of Jackson, while the reverse showcased The Hermitage, his home. Inscriptions likely included phrases related to the bicentennial, further reinforcing the coin’s commemorative purpose. These design elements served to visually connect the coin to the historical figure and the anniversary being celebrated.
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Public Awareness and Education
By designating the andrew jackson silver dollar as a “Bicentennial Honoree,” the U.S. Mint aimed to raise public awareness of Jackson’s life and accomplishments. The coin served as a miniature educational tool, prompting individuals to learn more about his role in American history. The coin’s issuance coincided with other bicentennial events and initiatives, contributing to a broader effort to commemorate Jackson’s legacy.
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Long-Term Legacy
The “Bicentennial Honoree” designation ensures the andrew jackson silver dollar’s lasting association with the historical event it commemorates. Future generations of collectors and historians will recognize the coin as a product of the bicentennial celebration, preserving its connection to Jackson’s legacy and the historical context of its issuance. The coin serves as a lasting reminder of the bicentennial and its significance in American history.
In summary, the “Bicentennial Honoree” aspect of the andrew jackson silver dollar is fundamental to understanding its purpose, design, and historical context. The designation transforms the coin from a mere piece of currency into a lasting tribute to a significant figure in American history, ensuring that his legacy is remembered and celebrated. It is a reminder of history, long after Jackson’s death.
Frequently Asked Questions
The following section addresses common inquiries regarding the commemorative silver dollar honoring Andrew Jackson, providing concise and informative answers.
Question 1: What is the composition of the Andrew Jackson Silver Dollar?
The commemorative coin is composed of 90% silver and 10% copper, consistent with many historical U.S. silver coin standards.
Question 2: What was the legal basis for the Andrew Jackson Silver Dollar?
Public Law 103-302 authorized the creation and issuance of the commemorative silver dollar by the United States Mint.
Question 3: Who benefitted from the sale of the Andrew Jackson Silver Dollar?
A surcharge from the sale of each coin was directed to The Hermitage, Andrew Jackson’s historical home, for preservation and educational purposes.
Question 4: What is the face value of the Andrew Jackson Silver Dollar?
The coin has a face value of one dollar, though its actual value is determined by its silver content, scarcity, and collector demand.
Question 5: Why was the Andrew Jackson Silver Dollar issued?
The coin was released in 1993 to commemorate the bicentennial of Andrew Jackson’s birth, honoring his life and legacy.
Question 6: Is the Andrew Jackson Silver Dollar still available from the U.S. Mint?
The coin is no longer available directly from the U.S. Mint. Interested parties must acquire it through secondary markets, such as coin dealers or private collectors.
Understanding these key details provides a comprehensive overview of the Andrew Jackson Silver Dollar, solidifying its place within the realm of numismatics and American history.
The following sections will explore the long-term market performance and investment potential of this commemorative coin.
Navigating the Andrew Jackson Silver Dollar Market
Acquiring and managing commemorative silver dollars requires a discerning approach. The following tips aim to provide informed guidance when engaging with these historical numismatic items.
Tip 1: Research Mintage Figures. Awareness of the total coins minted is paramount. Lower mintage numbers often correlate with increased scarcity and potential value appreciation. Verify mintage numbers through official U.S. Mint publications and reputable numismatic sources.
Tip 2: Assess Coin Grading. The condition of the piece significantly impacts its value. Employ professional grading services, such as PCGS or NGC, to obtain objective assessments. Familiarize oneself with grading scales to understand the nuances of coin preservation and potential flaws.
Tip 3: Understand Market Trends. Numismatic markets are subject to fluctuations driven by economic factors, collector demand, and precious metal prices. Track auction results, dealer listings, and numismatic publications to remain informed about the current market trends for commemorative silver dollars.
Tip 4: Authenticate Purchases. Counterfeit coins exist, posing a risk to inexperienced collectors. Acquire coins from reputable dealers who guarantee authenticity. Consider purchasing certified coins from grading services, as they have already undergone authentication processes.
Tip 5: Preserve Properly. Silver coins are susceptible to environmental damage, including tarnishing and scratching. Store commemorative silver dollars in archival-quality holders designed for long-term preservation. Avoid handling coins directly to prevent contamination.
Tip 6: Be Aware of Surcharges. A portion of the original sales price of commemorative silver dollars typically benefited a designated cause, such as The Hermitage. Consider this altruistic aspect when evaluating purchase decisions, as it connects the coin to a broader historical and philanthropic context.
Tip 7: Know the Legislation. Review Public Law 103-302, the authorizing legislation for the commemorative silver dollar. This document provides critical details regarding the coin’s specifications, purpose, and beneficiaries, enriching the collector’s understanding and appreciation of the piece.
In summary, successful navigation of the commemorative silver dollar market requires due diligence, informed decision-making, and a commitment to preserving these historical artifacts.
The subsequent section will provide insights into resources for further research and exploration of commemorative coin collecting.
Andrew Jackson Silver Dollar
The preceding exploration of the andrew jackson silver dollar has illuminated its multifaceted significance. From its legislative authorization under Public Law 103-302 to its composition of 90% silver, the commemorative coin stands as a tangible representation of American history and numismatic artistry. Its designation as a Bicentennial Honoree and its role as a beneficiary for The Hermitage further solidify its unique place in American heritage. The limited mintage underscores the coin’s collectibility, while its one-dollar denomination ties it to the fabric of the U.S. monetary system.
As collectors and enthusiasts engage with this piece of history, a deeper understanding of its origins, purpose, and market dynamics is imperative. The andrew jackson silver dollar serves not only as a collectible asset but also as a reminder of the enduring legacy of Andrew Jackson and the importance of preserving historical landmarks for future generations. Continued research and responsible acquisition will ensure that this commemorative coin remains a valued piece of the American narrative.
