The Seated Liberty dollar is a historic coin type that was produced between 1840 and 1873. Despite its unique history, it remains one of the most misunderstood coin series among collectors, according to experts. Originally struck for bullion depositors who exchanged their silver for these coins, they were also intended for export trade. As a result, only a few circulated within the United States.
The recent Ray Ballinger Collection, presented by Stack’s Bowers Galleries on June 17, showcased a nearly complete set of Seated Liberty dollars, missing only the rare 1870-S issue. Below, we explore highlights from the collection and what makes these coins so remarkable.
The Beginning: 1840 Seated Liberty Dollar
The 1840 Seated Liberty dollar marks the first year of wide circulation for this design, following the Gobrecht dollars of 1836–1839. Its design, already seen on quarters in 1838, made it popular among collectors as a first-year issue.
One notable 1840 dollar from the Ballinger collection, graded About Uncirculated (AU) 50 by PCGS, sold for $2,160. Its appeal lay in its attractive “smoky silver and golden-olive patina” on frosty, well-struck surfaces.
| Coin Year | Mintage | Surviving Examples | Grade | Price at Auction | Notable Features |
|---|---|---|---|---|---|
| 1840 | N/A | N/A | AU-50 | $2,160 | First year of wide circulation, frosty with smoky silver and golden-olive patina |
| 1851 | 1,300 | ~30 | AU-58 | $45,600 | Low mintage, intense frosty luster with silver and olive-gray iridescence |
| 1855 | N/A | N/A | AU-50 | $26,400 | CAC Gold Sticker, brilliant surfaces with iridescent rose-russet and powder blue toning |
| 1870-CC | N/A | N/A | AU-53 | $7,200 | Popular Carson City mint issue |
| 1871-CC | 1,376 | ~135 | AU-50 | $20,400 | Rare issue, strong demand from collectors |
| 1872-CC | 3,150 | ~300 | AU-55 | $10,200 | Rare with light golden-russet patina, one of the last Carson City mints |
1851 Seated Liberty Dollar: A Rare Treasure
The standout coin of the auction was an 1851 Seated Liberty dollar. With just 1,300 minted, it is incredibly rare today, with estimates suggesting only around 30 examples survive.
Graded AU-58 by PCGS, this coin fetched $45,600, cementing its value among collectors. The piece has a history of achieving impressive prices in previous auctions: $70,500 in 2013, $31,725 in 2016, and $36,000 in 2021.
Its beauty was highlighted by “intense frosty to semi-reflective luster,” along with silver and olive-gray iridescence and undertones of powder blue and reddish-rose.
A Unique 1855 Dollar with a Coveted CAC Sticker
Another standout was an 1855 Seated Liberty dollar, graded AU-50 by PCGS and carrying a rare gold Certified Acceptance Corp. (CAC) sticker. The coin sold for an impressive $26,400, far exceeding the $6,462.50 it achieved in 2015.
The CAC gold sticker, which indicates a coin of exceptional quality for its grade, undoubtedly boosted its appeal. Its luster, combined with rose-russet and powder blue toning, made it highly desirable to bidders.
Carson City Mint Dollars: Coveted Collectibles
The four Seated Liberty dollars struck at the Carson City Mint (1870–1873) are highly sought after by collectors. The Ballinger collection featured examples from each year, all graded by PCGS:
- 1870-CC: Graded AU-53, this coin sold for $7,200.
- 1871-CC: With a mintage of just 1,376, only about 135 are believed to survive today. Ballinger’s AU-50 example sold for $20,400.
- 1872-CC: Out of 3,150 originally minted, fewer than 300 are thought to exist today. This AU-55 coin fetched $10,200.
These Carson City issues are prized for their rarity and historical significance, representing the rich legacy of Nevada’s famous mint.
Conclusion: Why Collect Seated Liberty Dollars?
The Seated Liberty dollar series holds a special place in numismatics. Its limited mintage, historical relevance, and aesthetic appeal make it a treasure for collectors. From the rare 1851 coin to the elusive Carson City Mint issues, these coins tell a story of America’s monetary past.
Whether you’re a seasoned collector or new to the hobby, the Seated Liberty dollar offers a fascinating glimpse into U.S. history and the artistry of coinage.
FAQs
What is a Seated Liberty dollar?
A Seated Liberty dollar is a type of U.S. coin that was produced between 1840 and 1873. It features Lady Liberty sitting on a rock and holding a shield and olive branch, with the design used on other denominations like quarters.
Why are Seated Liberty dollars valuable?
Seated Liberty dollars are valuable due to their rarity, historical significance, and the limited number of coins that survive today. Many were produced for bullion deposits or export, meaning few circulated in the U.S. and most were eventually melted down.
What makes the 1851 Seated Liberty dollar special?
The 1851 Seated Liberty dollar is rare because only 1,300 were minted, and only around 30 are believed to survive. It is highly sought after by collectors for its low mintage, historical importance, and stunning appearance.
What is the significance of the CAC sticker on some coins?
The Certified Acceptance Corporation (CAC) sticker is a mark of quality. It indicates that the coin has passed a higher standard of review, ensuring it is of superior quality for its grade. Coins with CAC stickers tend to fetch higher prices at auction.
Why do Carson City Mint coins have such high demand?
Coins minted at the Carson City Mint (1870-1873) are popular because of their historical significance. The mint was located in Nevada, and its coins were produced in smaller quantities, making them rarer and more valuable among collectors.
What is the most expensive Seated Liberty dollar ever sold?
One of the most expensive Seated Liberty dollars sold in recent auctions is an 1851 Seated Liberty dollar, which fetched $70,500 in 2013. The high price reflects its rarity, grade, and appeal to collectors.