Sets

GI SMI

The General Issue (GI) State Monetary Initiative (SMI) pieces are one-ounce silver rounds that are a popular part of the Liberty Dollar story. These pieces were minted and weren't marked with any additional stamps, such as serial numbers or hallmarks, making them the most basic version of the SMI series. The Serial Numbered (SN) and Hallmarked (HM) pieces are made from the GI set and were stamped in limited numbers.

There are 29 pieces in this set and each round features the standard SMI obverse design used across all 25 participating states, as well as special issues for Puerto Rico, Marco Island, the Texas Double Date (TXDD), and New York Double Date (NYDD) errors.

The GI pieces were produced in varying quantities depending on the state. Some states had as many as 1,000 pieces minted, while others had only 500 total, making certain GI pieces harder to find today. Unlike the SN and HM versions, GI pieces did not require additional stamping after minting and were sold exactly as they came from Sunshine Mint.

How the GI SMI Started

The SMI program began in 2006, with Michigan being the first state to issue its SMI piece. Ron Goodger, Jeff Kotchounian, and Jeff Hoffmaster were instrumental in getting the program off the ground and working with other RCOs to put sets together. Each participating state needed a Regional Currency Office (RCO) to sponsor production. In total, 25 states joined the initiative, along with special issues for Puerto Rico and Marco Island, Florida.

At first, the Sunshine Mint required a 1,000-piece minimum order for each state’s design. Some states, such as Michigan, California, and Florida, met this requirement, leading to larger mintages. Later in the program, Sunshine allowed two states to split a 1,000-piece order, producing 500 pieces per state. This change let more states participate but resulted in smaller mintages for those issued later.

The Texas Double Date (TXDD) and New York Double Date (NYDD) errors were created in early 2007 when the mint mistakenly used an updated obverse die with 2007, while the reverse still showed 2006. These pieces were sent directly to RCOs, not through the Liberty Dollar main office, so they are rarer (particularly the NYDD).

States that had multiple RCOs and large mintages (several thousand pieces) remain easy to find and sell for lower prices. These include:

Michigan (MI)
New York (NY)
North Carolina (NC)
California (CA)
Florida (FL)
Pennsylvania (PA)
Texas (TX)

These pieces often sell for significantly less than rarer states.

States with only 500 pieces minted have become the hardest to find. Since 100 of the 500 were Serial Numbered (SN) and 50 were Hallmarked (HM), that left only 350 GI pieces available for collectors. Some of these lower-mintage states had nearly their entire supply sold into the collector market, making them appear for sale far less frequently.

Some of the hardest-to-find GI SMI pieces include:

Maine (ME)
New Mexico (NM)
North Dakota (ND)
Oregon (OR)
Mississippi (MS)
Idaho (ID)
Alaska (AK)
Massachusetts (MA)
Missouri (MO)
Alabama (AL)
Montana (MT)

Among these, ME is particularly difficult to find and I had quite the time trying to get ahold of NM.

The GI SMI pieces remain an important part of the Liberty Dollar history. While they are more common than their Hallmarked or Serial Numbered counterparts, their availability depends on state mintages. With increasing collector interest and limited supply, especially for the lower-mintage states, these pieces continue to gain recognition in the numismatic community.