1857 Liberty Seated Dollar : A Collector’s Guide

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

The Philadelphia Mint was the sole mint facility to strike Liberty Seated Dollars in 1857. Production began on May 29 with 490 struck and concluded on June 30. SS Central America would sink three months later, exacerbating the slow-moving global financial crisis that became known as the Panic of 1857.

As was typical for silver dollars struck during this period, most 1857 Liberty Seated Dollars were produced for American businesses as payment for trade in Asia. Subsidiary silver coinage had been struck at a reduced weight to prevent profiteering since 1853, but the dollar coin was excluded from this change in tenor. As a result, most examples left the country never to return, making this a tougher date to collect than the coin’s 94,490 mintage might suggest.

While collectors are enthusiastic about Prooflike business strikes, the 1857 Liberty Seated Dollar’s surviving Mint State specimens are usually found with Prooflike or Semi-Prooflike surfaces, making frost coins pinnacle rarities for the issue. Could these Prooflike coins be the product of the May 29, 1857 emission of 490 coins? It’s an interesting question to ponder.

Two die marriages are known for the issue and are catalogued by Dick Osburn and Brian Cushing. OC-1 features a Proof obverse die that is married with a business strike reverse, while OC-2 is a die marriage exclusively used to produce business strikes. OC-2 is the more commonly-encountered marriage.

CAC, NGC, and PCGS report a combined certified population of 250 coins. Most certified 1857 Liberty Seated Dollars fall in the About Uncirculated to MS64 range. Gems are rare.

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Market Data and Noteworthy Specimens

The NGC population of three coins in MS66 may not be an accurate representation of the current number of coins in NGC holders as the Akers-Gardner coin downgraded to MS65 when crossed to PCGS and a Heritage Auctions’ cataloger has suggested that at least one grading event was duplicative.

Top Population: PCGS MS65+ (1, 7/2024), NGC MS66 (3, 7/2024), and CAC MS66 (3:0 stickered:graded, 7/2024).

• PCGS MS65 CAC #25608485: As NGC MS66 #1725739-004. “The David and Sharron Akers Collection,” Heritage Auctions, January 9, 2014, Lot 5291 – $99,875; “The Eugene H. Gardner Collection, Part III,” Heritage Auctions, May 12, 2015, Lot 98566 – $76,375. As NGC MS66 #4247134-002. Heritage Auctions, February 4, 2016, Lot 3271 – $62,000. As PCGS MS65 CAC #25608485. Legend-Morelan Collection of Mint State Seated Dollars; Legend Rare Coin Auctions, December 15, 2016, Lot 357 – $73,437.50. Crossed to PCGS, where the coin downgraded by one point. Champagne hue. Ticks in the left obverse field below stars 6 and 7. Mark on the crook of Liberty’s elbow. Cut on cheek. All star radials impressed. Diagonal streak at 5 o’clock. Frosty and PQ for the grade.
• PCGS MS65 CAC #13722780: Legend Rare Coin Auctions, April 27, 2023, Lot 338 – $79,312.50. Silvery-white with streaks of apricot and slate across the figure of Liberty. Stars weak at Liberty’s head. PQ coin.
• NGC MS65PL #3017497-005: Heritage Auctions, January 7, 2010, Lot 2598 – $56,925.
• PCGS MS64 CAC #08501366: Heritage Auctions, April 2006, Lot 2183; “The M & S Petty Collection,” Legend Rare Coin Auctions, July 28, 2022, Lot 245 – $17,037.50; “The Delexa Collection,” Heritage Auctions, January 10, 2024, Lot 3783 – $13,800. Gold-tan hue. Stars 4 to 13 weak. Head weak.
• NGC MS64PL #1921327-007: Heritage Auctions, July 9, 2009, Lot 773 – $11,500; Heritage Auctions, February 9, 2023, Lot 3759 – $12,000. OC-2. Heather-colored fields with golden devices.
• PCGS MS64 CAC #21572845: Sterling Collection; Sterling Collection purchased by Legend Numismatics; Legend-Morelan Collection of Mint State Seated Dollars; Heritage Auctions, December 2005, Lot 957; “The Issaquah Estate,” Heritage Auctions, May 16, 2019, Lot 17 – $34,075; Heritage Auctions, August 18, 2021, Lot 3367 – $14,400. Sterling-Legend on insert. Stars 4-13 flatly struck. Five ticks in a diagonal to the immediate left of 1.
• PCGS MS64 CAC #34341476: As PCGS MS64 #21310480. Heritage Auctions, January 30, 2004, Lot 6295 – $8,337.50. As PCGS MS64 CAC #34341476. Heritage Auctions, January 3, 2018, Lot 3924 – $10,825.20. As PCGS MS64 CAC #21310480. Legend Rare Coin Auctions, January 26, 2017, Lot 207 – $12,337.50. PL obverse. Darkly toned with streaks of antiqued green and russet.
• NGC MS64* #1749225-012: “La Jolla Collection”; Heritage Auctions, September 4, 2014, Lot 3222 – $16,450; “The Mesquite Collection,” Heritage Auctions, April 27, 2017, Lot 4107 – $9,400. LA JOLLA COLLECTION on insert. Cobalt and electric blue peripheral toning with golden centers. Darkly toned. Horizontal hit across torso. Stars 4-12 weakly struck. On the reverse, tick below eagle’s beak. First S of STATES and AM of AMERICA flatly struck.
• PCGS MS64 #08527398: Heritage Auctions, March 15, 2007, Lot 924 – $12,650; “The Eugene H. Gardner Collection, Part IV,” Heritage Auctions, October 28, 2015, Lot 98779 – $10,575. Champagne hue. Slightly better than typical strike.
• NGC MS64 #3413538-002: Heritage Auctions, February 4, 2014, Lot 5193 – $10,575.
• NGC MS64 #3211336-004: Heritage Auctions, April 24, 2013, Lot 4325 – $9,987.50. Orange and purple toning on both sides.
• NGC MS64 CAC #3103683-013: Heritage Auctions, November 8, 2011, Lot 3489 – $14,950. Darkly toned in blue and purple.
• NGC MS64 #287203-004: Heritage Auctions, December 3, 2009, Lot 914 – $8,625. Stars 4 to 13 weak. Head weakly struck. Large circular spot in the left obverse field, left of Liberty’s elbow. Gold and orange hue.
• NGC MS64 #500993-003: Heritage Auctions, November 17, 2000, Lot 5987 – $7,762.50; Heritage Auctions, February 5, 2009, Lot 1596 – $19,550. Old holder. Rainbow toning on the obverse with gold and red toning on the reverse. All star radials impressed.
• PCGS MS64 #21659558: Heritage Auctions, January 10, 2008, Lot 2943 – $18,400; “The Malibu Collection,” Stack’s Bowers, November 2010, Lot 2266 – $25,875. Seafoam, slate, and apricot toning on both sides. Rim hit in the right obverse field to the left of star 13, another on Liberty’s leg. On the reverse, there is a rim hit above the first S of STATES and a diagonal hit below TA of STATES.
• NGC MS64PL #1887839-006: “The Jack Lee Collection, Part III,” Heritage Auctions, November 3, 2005, Lot 2217 – $8,625.

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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, the right 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 1857 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 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.

Edge:

The edge of the 1857 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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