1854 Liberty Seated Dollar : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

Silver dollar coinage resumed in 1840 with the Liberty Seated design. For the first decade of the denomination’s reintroduction, the Philadelphia Mint handled the coinage exclusively for most years. In 1846, the New Orleans Mint would strike 59,000 pieces and in 1850, the southern port city struck another 40,000 pieces. Demand for the large silver coin did not increase as the 1850s unfolded and the Philadelphia Mint served as the exclusive dollar-producing Mint from 1852 to 1858.

In 1854, Philadelphia struck a total of 33,140 Liberty Seated Dollars, all of them minted on one day – June 29. A week later, in Jackson, Michigan, the first convention of the newly-formed Republican Party is held.

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Market Data and Noteworthy Specimens

PCGS certification data has more or less remained constant in the MS64 to MS66 grades since 2015. No additions have been reported since and the Sweet MS64+ is the only coin to upgrade. NGC reports 14 coins in this grade band but we have not located one example listed for sale at a major online auction in our research.

In Heritage’s 2015 lot description of the Sweet coin, the cataloger quotes a conversation that allegedly took place between silver dollar dealer Bruce Amspacher and an unnamed collector, who is said to have submitted a single coin six times to get it graded MS65. Amspacher was surprised to learn that the collector didn’t notify the service of the crackouts so that the old certification numbers could be eliminated from the pop report. Even without the benefit of this information, it is clear from auction data that the 1854 Liberty Seated Dollar is an underrated rarity in Mint State. Consider this: there are more PCGS-graded Mint State 1893-S Morgan Dollars (37 as of July 17, 2024) than there are 1854 Liberty Seated Dollars (29).

Top Population: PCGS MS66 (1, 7/2024), NGC MS65 (6, 7/2024), and CAC MS66 (1:0 stickered:graded, 7/2024).

• PCGS MS66 CAC #21572842: Del Loy Hansen. Imaged on PCGS CoinFacts. PQ rainbow toning. Diagonal scratch to the right of the date.
• PCGS MS65 CAC #25596537: “The B.S.T. Collection,” Legend Rare Coin Auctions, April 27, 2023, Lot 48 – $91,062.50.
• PCGS MS65: Heritage Auctions, March 15, 1996, Lot 6485 – $22,550. No image provided on Heritage’s website. “IRS Seizure coin.”
• PCGS MS64+ #35412670: “The Richmond Collection,” David Lawrence Rare Coins, November 2004, Lot 1477. As PCGS MS64 #05975112. “Rod Sweet & North Shore Coins Collection, Part IV,” Bowers and Merena, July 2005, Lot 1051. Sweet Collection on insert; Purchased by Legend Numismatics, February 2007; Heritage Auctions, May 12, 2015, Lot 98565 – $21,737.50; As PCGS MS64+ #35412670. “The Des Moines Collection,” Stack’s Bowers, August 15, 2018, Lot 1196 – $22,800. Upgraded by one-half point. Pedigree research assisted by Heritage Auctions.
• PCGS MS64 #9489653: Heritage Auctions, January 4, 2018, Lot 4904 – $26,400; Heritage Auctions, January 10, 2019, Lot 4521 – $22,800; Heritage Auctions, February 20, 2020, Lot 3092 – $21,000.
• PCGS MS64 #25214877: Heritage Auctions, January 10, 2019, Lot 4520 – $17,400.

Design

Obverse:

The obverse features Liberty seated on a rock in Classical flowing robes, her head turned to the right (viewer’s left). Liberty’s left arm is bent, her raised hand holding a Liberty pole with a cap. The right arm is extended downward at her side, with the hand balancing a shield with the word LIBERTY displayed in a curving banner. Thirteen six-pointed stars surround the seated figure inside a denticulated rim with seven on the left side, one between Liberty’s head and the cap, and the remaining five along the right. The date 1854 is centered at the bottom between the base of the rock and the rim.

Reverse:

On the reverse, an eagle is prominently displayed inside a denticulated rim. The eagle’s wings are partly spread but folded downward at the joint as if the majestic bird had just landed or perhaps instead is preparing to fly away. An olive branch is in the dexter claw (viewer’s left); the sinister claw clutches three arrows. The legend 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 and above the denomination.

Coin Specifications

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References

Julian, R.W. “The Silver Dollar, 1853-1873”, Numismatic Scrapbook Magazine. August 1964. 2124-2128. Data compiled and analyzed from the National Archives.

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