By James McCartney – Senior Numismatist, Stack’s Bowers ……
The 1870 Liberty Seated dollar represents the final lower-mintage Philadelphia issue before production exploded above one million coins per year in 1871 and 1872. Just 415,000 1870 dollars were struck, primarily at the request of bullion depositors for use in trade with China. These conditions would soon prompt the introduction of a dedicated United States trade dollar in 1873.
Virtually all 1870 Liberty Seated dollars sent to China were eventually melted as bullion, further reducing this relatively low mintage. While it appears that a decent quantity remained in America, these pieces circulated heavily and are often found in grades of AU-50 and lower. Mint State survivors are very rare, with perhaps only 150 Uncirculated examples at all levels.
Stack’s Bowers is therefore excited to offer one of the very finest known 1870 Liberty Seated dollars in our November 2021 Showcase Auction. Graded MS-66 by PCGS, it is tied with just one other coin at PCGS as the finest certified. No examples have been graded higher than MS-65 by NGC.
The surfaces of this superior Gem are intensely lustrous with a smooth satin texture that borders on pristine. Generally brilliant, we note a few wisps and blushes of pale reddish-gold iridescence that are more prevalent on the obverse. Well-struck for the type with most design elements sharp, collectors will be impressed by the exceptional eye appeal and technical quality.
This MS-66 (PCGS) 1870 dollar will be featured in our November 2021 Official Auction of the Whitman Coin & Collectibles Winter Expo, offered alongside important collections of Presidential Inaugural medals, Indian Peace medals, colonial coppers, early half eagles, and much more. For more information on this important offering or to consign your numismatic treasures to a future auction, contact our firm at 800-566-2580 or email [email protected]. Stack’s Bowers Galleries is now accepting consignments of U.S. coins and currency for our March 2022 Showcase Auction, as well as our ipcoming monthly Collectors Choice Online (CCO) Auctions.