1866 Liberty Seated Dime : A Collector’s Guide

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

Despite 1865 bringing with it the end of hostilities between the North and the South, President Lincoln’s assassination on April 14, 1865, just a week after Lee’s Appomattox surrender, cast a pall over the country. It seemed fitting, in a way, that a war that wasted the lives of nearly 750,000-850,000 Americans, including civilians, would not end without a final sacrifice.

The South was devastated by the fighting, with about two-thirds of its wealth destroyed, its infrastructure and cities primarily in tatters, and its livestock depleted, and its farm machinery either destroyed or in disrepair. The economic burden facing the reunified nation was immense, and the country sorely missed Lincoln’s steady and considered leadership.

For the Treasury Department, there was no conceivable way to resume the flow of specie coinage with the massive amount of greenbacks (over $400 million) in circulation. Greenbacks and “good money” did not trade on par, and as a result, the Philadelphia Mint primarily struck base metal coinage for domestic circulation and $20 gold coins for export and institutional use. Of the 15 coin types struck by the Philadelphia Mint in 1866, eight had token coinages of fewer than 25,000 pieces. The 1866 Liberty Seated Half Dollar was the only silver coin struck in Philadelphia with a considerable mintage. Introduced in 1866 was the Shield Nickel five-cent coin.

The 1866 Liberty Seated Dime: A Closer Look

Only 8,000 circulation-quality 1866 Liberty Seated Dimes were struck, all on January 31. In addition, the Philadelphia Mint produced 725 Proofs for collectors. Proof mintages were slightly up in 1866, and some have postulated that this was due to collector sentiment regarding the end of the war. When one considers that Proof mintages were higher in 1860, this theory begins to lose some credibility.

However, examining the 1866 business strike mintage reveals the continuation of a trend of declining production figures that began in 1863 and concluded in 1867. All five of these issues are tough to collect, but the 1867 is the most challenging- not that the other dates are readily available. NGC and PCGS have combined to report 72 grading events (through August 2025), with 32 coins falling within the MS63 and MS64 grade bands.

The 1866 is scarce in all grades, but the price differential between a circulated example and one in Choice Mint State suggests that uncirculated coins are the better value.

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Market Data and Noteworthy Specimens

While Seated Dimes are collected in all grades, the condition census examples of the 1866 date are primarily composed of toned pieces. A notable exception is the frosty-brilliant MS67 example from the historic Del Loy Hansen Collection.

This piece was joined in 2023 by a previously unknown toned coin that had been off the market for over 112 years, originating from the James Allaire Millholland Collection. Millholland, a lesser-known collector from the 19th to early 20th centuries, largely collected uncirculated silver denominations. When his collection came to market, nearly all the coins featured attractive original toning and many were in very high grades.

Usually, we see a fair number of crossovers and upgrades in classic U.S. coin series. However, this does not appear to be the case with MS66 or better 1866 dimes. Our research found only one upgrade—a PCGS MS66+ that had previously been an NGC MS66.

Top Population: PCGS MS67 (2, 8/2025), NGC MS68 (1, 8/2025), and CAC MS67 (1:0 stickered:graded, 8/2025).

• PCGS MS67 #46212607: “The James Allaire Millholland Collection,” Stack’s Bowers, March 21, 2023, Lot 3003 – $7,200. This coin was held in a collection for 112 years by the estate of James Allaire Millholland, a collector who lived from 1842-1911.
• PCGS MS67 #84065944: Del Loy Hansen. Imaged on PCGS CoinFacts. Brilliant and frosty. PQ.
• PCGS MS66+ CAC #39848029: As NGC MS66 #6060873-007. Heritage Auctions, December 16, 2021, Lot 3049 – $3,960. As PCGS MS66+ CAC #39848029. Heritage Auctions, June 18, 2021, Lot 3411 – $5,160. Crossed to PCGS, where the coin was upgraded by 1/2 point. CAC added—champagne centers with flecks of orange and brown toning along the periphery.
• PCGS MS66 #33072225: As PCGS MS66 #8346782. “Moores Collection,” Sotheby’s, November 1999, Lot 123 – $4,950; “The Eugene H. Gardner Collection III,” Heritage Auctions, May 12, 2015, Lot 98240 – $4,465. As PCGS MS66 #3307225. Heritage Auctions, March 4, 2016, Lot 4799 – $3,172.50. Dark green toning along the periphery. Pale golden toning in the centers. Dark spot on Liberty’s right upper arm.
• PCGS MS66 CAC #25202573: Heritage Auctions, June 4, 2015, Lot 3862 – $3,760; Heritage Auctions, February 5, 2016, Lot 3788 – $3,525. Splotchy blue and purple toning throughout.
• PCGS MS66 #27382710: New England Museum; Stack’s Bowers, May 9, 2013, Lot 207 – $12,925. All over antique olive, blue, and red toning.
• PCGS MS66 CAC #06666750: “The Bob R. Simpson Collection of Seated Dimes,” Heritage Auctions, September 23, 2010, Lot 3668 – $6,325. Lavender, seafoam green toning.
• NGC MS66 #1899749-004: The Bob Simpson Collection,” Heritage Auctions, August 12, 2010, Lot 4418 – $3,450. Simpson’s duplicate. Streaks of blue, gold, red, and green toning on the obverse. Golden peripheral toning on the reverse.
• NGC MS66 CAC #376739-008: Heritage Auctions, July 9, 2009, Lot 356 – $3,335. Beautiful frosty example with a light champagne hue.
• PCGS MS66: Stack’s Bowers, March 14, 2006, Lot 560 – $12,650. All over blue and purple toning.
• NGC MS66 #3428500-011: As NGC MS66 #1876768-002. Stack’s Bowers, March 14, 2006, Lot 561 – $5,060. Heritage Auctions, April 9, 2007, Lot 525 – $3,737.50; Heritage Auctions, April 29, 2009, Lot 135 – $3,220. As NGC MS66 #3428500-011. Heritage Auctions, January 7, 2015, Lot 3804 – $3,055. Purple, blue, and gold target toning all over.

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Design

Obverse:

The obverse features a sitting depiction of the personification of Liberty holding a Liberty pole in her left hand as she looks behind her over her right shoulder. At the top of the pole is a Phrygian cap, a classic symbol of emancipation. Her right arm and hand cradle a Union shield, which features a ribbon with the word LIBERTY running from the upper left to the lower right. The legend UNITED STATES OF AMERICA wraps around the top of the obverse from left to right. The date 1866 sits below Liberty. Denticles surround the rim.

Reverse:

The denomination ONE DIME is in the middle, with a closed wreath of wheat surrounding it. Denticles surround the rim.

Edge:

The edge of the 1866 Liberty Seated Dime is reeded.

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Coin Specifications

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