The Seated Liberty Dollar, minted from 1840 to 1873, is one of the most iconic and sought-after coins in American numismatic history. Struck from silver, these dollars were highly valued during their time in circulation and continue to be a favorite among collectors today. Diversifying your precious metals portfolio with a Seated Liberty Dollar is both a smart and rewarding endeavor.
The Seated Liberty Dollar was first minted for public circulation in 1840 by the United States Mint. Initially produced at the Philadelphia Mint, the New Orleans Mint began striking these coins in 1846. This series is particularly notable as it was the last silver dollar minted before the Coinage Act of 1873, which temporarily halted the production of silver dollars in the United States.
The California Gold Rush had a significant impact on the Seated Liberty Dollar series. By the late 1840s, the influx of gold caused the price of silver to rise relative to gold, leading to the hoarding and export of silver. This economic shift resulted in lower mintages of Seated Liberty Dollars during this period. However, near the conclusion of the series, increased U.S. silver production led to higher mintage numbers.
The Seated Liberty Silver Dollar was designed by Christian Gobrecht, the Chief Engraver of the U.S. Mint at the time. The obverse of the coin features Lady Liberty seated on a boulder, holding a pole topped with a liberty cap in one hand and a patriotically striped shield in the other. She is surrounded by 13 stars as an homage to the original colonies, with the issue date located below.
Early prototypes of the Seated Liberty Dollar, minted in 1836, 1838, and 1839, featured a flying eagle on the reverse with surrounding inscriptions. The stars on the reverse were removed for the 1839 coin. These early pattern pieces are known as Gobrecht Dollars.
From 1840 onwards, the reverse design was modified to feature an American eagle with outstretched wings, holding arrows and olive branches in its talons. Surrounding inscriptions read "UNITED STATES OF AMERICA" and "ONE DOL." In 1866, a ribbon with the motto "IN GOD WE TRUST" was added above the eagle.
Coin images sourced from: Heritage Auctions
Certain dates within the Seated Liberty Dollar series are especially sought after by collectors due to their rarity and historical importance. Key dates include:
Seated Liberty Silver Dollars can be found on the market with a wide range of prices. Depending on their rarity, condition, and grade, prices can range from a few hundred dollars to several thousand dollars. Coins from earlier years in good condition are particularly valuable. Professional grading services like the Numismatic Guaranty Company (NGC) and the Professional Coin Grading Service (PCGS) provide accurate assessments of a coin's condition, significantly influencing its market value.
Whether you are a novice or advanced collector, the Seated Liberty Dollar is a valuable addition to any collection. Its rich history, intricate design, and various key date issues make it a fascinating and rewarding pursuit. As always, ensure you are dealing with trusted precious metal dealers when buying or selling these coins. For assistance, Bullion Hunters' customer service team is available to help you enhance your collection with these timeless treasures.