1860 Seated Liberty Dollar MS65 NGC
Park Avenue Numismatics Inventory Item # PAN33018
1860 Seated Liberty Dollar MS65 NGC
The obverse of the Liberty Seated dollar displays Liberty seated on a rock in Classical flowing robes, head turned toward her right (viewer’s left). Her left arm is bent, raised hand holding a liberty pole with a cap. The right arm is extended downward at her side, with the hand balancing a shield across which the word Liberty is displayed in a curving banner. Thirteen six-point stars surround the seated figure inside a dentilled rim with seven on the left side, one between Liberty’s head and the cap, and the remaining five along the right. The date is centered at the bottom between the base of the rock and the rim.
On the reverse, an eagle is prominently displayed inside a dentilled rim. The eagle’s wings are partially spread but folded downward at the joint as if the majestic bird had just landed or perhaps instead is preparing to fly off. An olive branch is in the dexter claw (viewer’s left) ; the sinister claw clutches three arrows. UNITED STATES OF AMERICA encircles the top two-thirds of the coin inside the rim, with the ONE DOL. denomination centered at the bottom. Most were minted at Philadelphia; branch New Orleans (O) and San Francisco (S) mintmarks are located below the eagle, above the denomination.
Seated Liberty dollars of 1860 were apparently intended mainly for use in the export trade to China, where many were melted. In his Silver Dollars and Trade Dollars of the United States, David Bowers writes:
“They never were available from the Mint at face value, and all were paid out at $1.08 each to bullion dealers, banks, and others who fed them into the Orient trade. A small percentage of the mintage (217,600 business strikes) circulated domestically after the resumption of specie payments in autumn 1876.”
Bowers also indicates that there was little interest in business strike Seated dollars during this time period. Collectors desiring date sequences of dollars were satisfied with Philadelphia Mint proofs.
The above factors account for the scarcity of 1860 dollars in all grades. NGC and PCGS have certified approximately 250 examples from Very Good through Mint State, many of which are undoubtedly resubmissions.
