1856 Liberty Seated Dollar : A Collector’s Guide

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

The 1856 Liberty Seated Dollar is a semi-key in a type replete with deceptively tough dates. Researchers Osburn and Cushing have identified one die marriage for business strikes and a separate marriage for Proofs.

From 1851 to 1859, the Philadelphia Mint exclusively minted silver dollars in limited numbers. This denomination was struck on request by depositors, typically for export.

Production of the 1856 dollar began on January 30, with an emission of 10,000 coins. Eighteen thousand more were struck a day later. Two additional strikings took place in early February, culminating with 18,500 produced on February 9. By comparison, Philadelphia manufactured 938,000 Liberty Seated Half Dollars and 7,264,000 Liberty Seated Quarters that year.

Series specialists are well aware, but the general collector might be surprised to learn that most issues in the Liberty Seated Dollar series are scarce in Mint State, and rare in Gem. For the 1856 Liberty Seated Dollar, no examples are known finer than MS64. The leading grading services report only 12 examples finer than MS63, but this tally may include duplication, as we have identified only five discreet specimens through our online auction research. Given the lack of extant examples, we are surprised by the seemingly low prices that Mint State coins in this series fetch at auction. Is this a sleeper series?

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1856 Liberty Seated Dollar Market Data and Noteworthy Specimens

Top Population: PCGS MS64 (3, 8/2024), NGC MS64 (2, 8/2024), and CAC MS64 (2:0 stickered:graded, 8/2024).

• NGC MS64 #1776790-005: Heritage Auctions, July 28, 2005, Lot 10244 – $14,950; Bill Nagle to Eugene H. Gardner, February 2007; “The Eugene H. Gardner Collection, Part II,” Heritage Auctions, October 27, 2014, Lot 98594 – $14,100; “The Mesquite Collection,” Heritage Auctions, April 27, 2017, Lot 4106 – $11,456.25; Heritage Auctions, October 11, 2018, Lot 3097 – $10,200. Raspberry and apricot toned. Soft strike near Liberty’s head and right-side stars. Four diagonal dark lines at stars 1 through 3. Fingerprint at Liberty’s hair.
• PCGS MS63 #35412671: “The Des Moines Collection,” Stack’s Bowers, August 15, 2018, Lot 1199 – $13,800.
• PCGS MS63 #2617684: “The Dr. John L. Pellegrini Collection of Liberty Seated Dollars,” Heritage Auctions, July 29, 2005, Lot 6604 – $10,350. Darkly toned.
• NGC MS63 #597983-001: Heritage Auctions, February 24, 2005, Lot 7372 – $6,612.50. Splotchy toning in russet and goldenrod over slate grey surfaces.
• NGC MS63 #2091852-006: Stack’s, May 1987, Lot 350; As NGC MS63 #2091852-006. “The Richard J. Chouinard Collection of United States Coins, Part One,” Heritage Auctions, January 14, 2005, Lot 8263 – $6,900. Darkly toned, with dark crescent toning around lower right periphery.
• NGC MS62 #1716031-056: “The Richmond Collection, Part II,” David Lawrence Rare Coins, November 2004, Lot 1479. RICHMOND COLLECTION on insert; “The Delexa Collection,” Heritage Auctions, January 10, 2024, Lot 3782 – $5,520. Wheat-gold and powdery blue. Typical weakness in strike. Scattered marks in the fields. Horizontal scratch across the crook of Liberty’s elbow.
• PCGS MS62 #30159560: As PCGS MS62 #21812012. Heritage Auctions, November 3, 2005, Lot 2216 – $4,600; Heritage Auctions, March 15, 2007, Lot 923 – $4,312.50; Heritage Auctions, January 8, 2010, Lot 3587 – $4,600. As PCGS MS62 #30159560. Heritage Auctions, September 4, 2014, Lot 3221 – $6,462.50; Heritage Auctions, April 23, 2015, Lot 4830 – $5,170; Heritage Auctions, August 4, 2017, Lot 5314 – $4,700. Peach hue. Soft head and right-side stars. Small horizontal nick on Liberty’s right breast and in the right obverse field. Eagle’s right leg weak. Dark spot between the eagle’s head and AM.
• NGC MS62 #50941-010: Heritage Auctions, April 17, 2008, Lot 2113 – $8,625. Splotchy toning in yellow, green, and slate.
• PCGS MS62 #03973495: Heritage Auctions, April 9, 2007, Lot 944 – $8,625. Thin vertical streak above 8 of date. Horizontal streak across torso. On the reverse, there is a small reflective area above the eagle’s head and the N of ONE. Die crack from U to O. Very lightly toned.

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Design

Obverse:

Liberty is seated upon 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 1856 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. Minted in Philadelphia, the coin bears no mintmark.

Edge:

The edge of the 1856 Liberty Seated Dollar is reeded.

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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