Aspen Dollar
The Aspen Silver Dollar began in 2008 as a local community currency initiative in Aspen, Colorado. Spearheaded by Peter Affolter, a well-known local chef and Dr. Bill Wesson, a longtime dentist, the project aimed to promote silver as a stable store of value and alternative medium of exchange. Affolter took charge after Wesson introduced him to silver and became too busy to oversee the effort. He saw an opportunity when he noticed the lack of available silver in Aspen, prompting him to create a new local currency.
The Aspen Silver Dollar showcases an Aspen leaf on the reverse and the familiar Lady Liberty on the obverse, a design licensed by Bernard von NotHaus with Silver Liberty Marketing (SLM). Each round contains 1 troy ounce of .999 fine silver and has a nominal $50 value. Although created for voluntary use by local merchants, discounts were offered to Roaring Fork Valley residents to increase circulation, which helped it gain popularity. Participating businesses included bars, grocery stores, and repair shops.
Affolter’s passion for the project was driven by his belief in sound money and its potential benefits for the community. He emphasized that silver, unlike fiat currency, maintains its value over time and he compared it to the consistency needed in the restaurant business. Affolter also drew inspiration from Aspen’s history as a silver mining hub and its recovery after the panic of 1893. He envisioned the Aspen Silver Dollar as both a nod to the town’s heritage and a practical response to concerns about the declining value of the U.S. fiat dollar.
In 2010, special collector editions were released, including a First Day of Issue with a hand-stamped Aspen leaf and a Limited Numbered Issue of 100 serialized pieces. These were offered alongside the standard Brilliant Uncirculated version. There are an estimated 1,000 pieces in total, including the serialized and hallmarked Aspen Dollars. There are also test strike Aspen Dollars with the silver die used on copper planchets, though these were not meant for public release and are extremely rare. More information can be found on the Prototypes page.
The 2010 Copper Aspen Dollar is an example of the standard die, typically reserved for silver, being struck on a copper planchet. This picture is from the piece in my personal collection. While the exact number produced is unknown, it is believed that this was from testing the die on copper planchets before moving on to the intended silver strikes, which were likely not intended for public distribution. This piece provides collectors with a view into the trial production processes and the unintentional variations that emerged in the Liberty Dollar series.
The Aspen Silver Dollar represents a unique experiment in local currency, reflecting Aspen’s character and historical connection to silver. While primarily circulated within the local community, it also holds value as a collectible item tied to the broader Liberty Dollar movement.