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Free coinage of silver means a person could bring silver ingots to the United States Mint and have them coined. For example, $0.53 of silver would produce a silver dollar, which is what the Morgan dollar (1878-1921) contained. If the government issued dollars containing 100 cents worth of silver, they would have been very large and cumbersome.
The United States trade dollar was a dollar coin minted by the United States Mint to compete with other large silver trade coins that were already popular in East Asia.The idea first came about in the 1860s, when the price of silver began to decline due to increased mining in the western United States.
Value: $1, $2, $5: Years of printing: 1896: ... 1899 United States five-dollar Silver Certificate; References ... FRBSF currency exhibit Archived 2006-01-26 at the ...
At first, the banknotes circulated at par with the stated value, however after a few months they started depreciating until they became almost worthless. The United States agreed to redeem the notes for treasury bonds at 1% of the face value. The issued denominations ranged from $1 /6 to $80.
As a way of honoring more presidents, the U.S. Mint began issuing Presidential Dollar coins in the 2000s. Most are worth about face value, but a couple are valued in six figures due to errors .
The Japanese Trade Dollar was a dollar coin, issued from 1875 to 1877. It was minted of 27.22 g of silver with a fineness of .900 (90%). The Yen coin had 26.96 g of silver at that time, and otherwise nearly identical in design to the trade dollar.