1866 Liberty Seated Dollar : A Collector’s Guide

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

Despite its final battle taking place on Palmito Ranch, in Cameron County, Texas, on May 12 and 13, 1865, the formal end of the American Civil War did not take place until August 20, 1866, when President Andrew Johnson signed an official proclamation declaring that the “insurrection is at an end.”

With much of the South in ruins, the nation’s economic recovery varied based on region. While the Federal Government’s policy of Reconstruction was met with open hostility and sometimes violence in the South, its key pillars–the 13th, 14th, and 15th Amendments–sought to abolish slavery and extend the franchise and protections of citizenship to African American men.

Economically, the country remained mired in debt, having borrowed more than $2.7 billion to prosecute the war. Surprisingly, the government balanced its budget, and by the end of the century, the debt had been whittled down to just $1.9 billion.

Americans found little domestic use for the Liberty Seated Silver Dollar in 1866, but it was struck for use in international trade. The year’s total output of 48,900 business strikes was produced over five days, with the bulk occurring between May 8 and August 24. Most of these are lost to time, and fewer than 100 likely survive in Mint State. Most 1866 Liberty Seated Dollars are in low-Mint-State grades.

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1866 Liberty Seated Dollar Market Data and Noteworthy Specimens

Top Population: PCGS MS67 (2, 4/2025), NGC MS67 (1, 4/2025), and CAC MS67 (1:0 stickered:graded, 4/2025).

• PCGS MS67 #21572796: As NGC MS67. “The Millennium Sale”, Bowers and Merena, August 2000. As PCGS MS67 #21572796. “Legend Collection of Mint State Seated Dollars”; Dell Loy Hansen. Imaged on PCGS CoinFacts. Light centers. Toned edges.
• PCGS MS67 #21545221: Stack’s Bowers, December 18, 2020, Lot 2263 – $150,000. Golden peripheral toning on the obverse. Blue-green toning covers the reverse. Thin horizontal scratches across the field to the left and right of Liberty. Hit on Liberty’s forearm. Die crack across stars 9 and 10.
• PCGS MS66+ #38634069: “The D. Brent Pogue Collection, Part VII,” Stack’s Bowers, March 20, 2020, Lot 7306 – $132,000. Pale gold centers, with orange and purple toning along the periphery.
• PCGS MS65 CAC #25596548: “The Frog Run Collection,” American Numismatic Rarities, November 30, 2004, Lot 1554 – $43,125; Heritage Auctions, October 27, 2014, Lot 98598 – $79,312.50. CAC added. All over peach toning. On the reverse, there is a tick under the eagle’s right wing.

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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, 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 1866 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. Above its head is a ribbon with the motto IN GOD WE TRUST. 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.

Edge:

The edge of the 1866 Liberty Seated Dollar is reeded.

Coin Specifications

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1866 Liberty Seated Dollar 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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