The Seated Liberty dollar is one of the most iconic coins in American numismatic history. Struck from 1840 to 1873, it is known for its distinctive design, which features Liberty seated on a rock holding a shield and a liberty pole. While the Seated Liberty dollar has become highly popular among collectors today, it was once a misunderstood and rare coin, especially when it was originally minted.
In this article, we will delve into the history of the Seated Liberty dollar, discuss its importance in the world of coin collecting, and highlight some of the most notable sales from a recent auction of the Ray Ballinger Collection, where these coins brought impressive prices.
History of the Seated Liberty Dollar
The Seated Liberty dollar first appeared in 1840, replacing the earlier Liberty Seated design used for various denominations. The initial Seated Liberty dollar was not widely circulated within the United States due to the fact that many were struck for bullion depositors, who wanted to exchange silver for dollars. These coins were also intended for the export trade, leading to their limited circulation domestically.
The design of the Seated Liberty dollar is closely associated with the work of Christian Gobrecht, who also designed the Liberty Seated half dollar and quarter. The design was used on the quarter starting in 1838, and by 1840, it was introduced on the dollar. However, due to its limited domestic use and the preference for melting down the coins for their silver content, Seated Liberty dollars are not as abundant today as one might expect for coins minted over a long period.
| Year/Issue | Description | Grade | Price ($) | Notable Details |
|---|---|---|---|---|
| 1840 Seated Liberty | First year of the Seated Liberty design for circulation | AU-50 (Professional Grading Service) | $2,160 | Smoky silver and golden-olive patina, well-struck, frosty surfaces |
| 1851 Seated Liberty | Low mintage, only 1,300 struck | AU-58 (PCGS) | $45,600 | Frosty to semi-reflective luster, iridescent silver and olive-gray tones |
| 1855 Seated Liberty | Early PCGS holder, Certified Acceptance Corp (CAC) gold sticker | AU-50 (PCGS) | $26,400 | Brilliant surfaces with rose-russet and powder blue toning |
| 1870-CC Seated Liberty | Carson City Mint issue | AU-53 (PCGS) | $7,200 | Popular among collectors, low mintage |
| 1871-CC Seated Liberty | Only about 135 survive | AU-50 (PCGS) | $20,400 | Un-toned surfaces, few scattered marks |
| 1872-CC Seated Liberty | Small mintage, estimated 300 survivors | AU-55 (PCGS) | $10,200 | Golden-russet patina |
| 1873-CC Seated Liberty | Most expensive of the four CC-mint issues | AU-50 (PCGS) | $43,200 | Popular among collectors due to rarity and historical value |
Ray Ballinger Collection Auction Highlights
In June 2024, the Ray Ballinger Collection of Seated Liberty dollars was auctioned by Stack’s Bowers Galleries. This collection was considered complete, except for one important missing piece: the 1870-S Seated Liberty dollar. The collection offered a variety of Seated Liberty coins, including several highly sought-after examples.
The 1840 Seated Liberty Dollar
The auction kicked off with a stunning 1840 Seated Liberty dollar, graded About Uncirculated 50 by Professional Coin Grading Service (PCGS). This coin sold for $2,160. The 1840 dollar is especially popular as it marks the first year of the Seated Liberty design being struck in large numbers for circulation. The coin featured a thin veil of smoky silver and golden-olive patina, giving it an attractive appearance and significant historical value.
The 1851 Seated Liberty Dollar
One of the stars of the auction was the 1851 Seated Liberty dollar, with a low mintage of only 1,300 coins. This year saw fewer depositors requesting dollars, so most of the coins were melted down, leaving only about 30 surviving specimens. The coin, graded AU-58 by PCGS, sold for an impressive $45,600. This coin has a notable history, having sold multiple times over the years for high prices. For example, it was sold for $70,500 in 2013, $31,725 in 2016, and $36,000 in 2021.
The coin’s high price at auction can be attributed to its sharp strike, frosty luster, and iridescent toning, with shades of silver, olive-gray, and powder blue.
The 1855 Seated Liberty Dollar
Another highlight of the auction was the 1855 Seated Liberty dollar, graded PCGS AU-50. This coin was housed in an old PCGS holder from the early 1990s and carried a Certified Acceptance Corp. (CAC) gold sticker, which is a mark of quality. This CAC-graded coin sold for $26,400, far surpassing the $6,462.50 it sold for in a 2015 auction. Coins with CAC gold stickers are highly prized among collectors, as they are considered to be of exceptional quality.
The coin featured brilliant surfaces, with iridescent rose-russet and powder blue toning around the edges, making it a beautiful and highly collectible piece.
Carson City Mint Coins
The Seated Liberty dollars struck at the Carson City Mint are especially popular due to their scarcity and historical significance. From 1870 to 1873, several coins were minted at this facility, and they remain highly sought after by collectors.
The 1870-CC Seated Liberty Dollar
The 1870-CC Seated Liberty dollar, graded AU-53, sold for $7,200 at auction. This coin is notable for its low mintage and relatively small number of surviving examples, making it a rare find for collectors.
The 1871-CC Seated Liberty Dollar
The 1871-CC Seated Liberty dollar is another rare piece with an estimated survival rate of only about 135 coins. The AU-50 example from the Ballinger Collection, which featured untoned surfaces and only a few scattered marks, sold for $20,400.
The 1872-CC Seated Liberty Dollar
The 1872-CC Seated Liberty dollar had a small mintage of just 3,150 coins, and only about 300 examples are estimated to survive today. The AU-55 example in the auction sold for $10,200, with a touch of golden-russet patina adding to its appeal.
The 1873-CC Seated Liberty Dollar
The most expensive of the four Carson City Seated Liberty dollars offered was the 1873-CC example, which sold for $43,200. This coin was graded AU-50 and is one of the most sought-after pieces in the entire Seated Liberty dollar series.
Conclusion
The Seated Liberty dollar is a fascinating and historically significant coin that has become a favorite among collectors. Its unique design, limited circulation, and the stories behind the coins have made it a highly collectible piece in the numismatic world. The recent auction of the Ray Ballinger Collection demonstrated the continued demand for these coins, with several Seated Liberty dollars selling for impressive prices.
The auction featured a wide range of Seated Liberty dollars, from the 1840 first-year issue to the rare Carson City mint coins from the 1870s. As interest in these coins remains strong, collectors continue to value their beauty, rarity, and historical significance.
FAQs
Q1: What is a Seated Liberty dollar?
A1: The Seated Liberty dollar is a type of U.S. coin minted between 1840 and 1873, featuring a design of Lady Liberty seated on a rock. These coins were produced for circulation, export, and bullion deposits.
Q2: Why are Seated Liberty dollars considered valuable?
A2: Seated Liberty dollars are valuable because of their historical significance, low mintage, and rarity, particularly for certain years. Coins with CAC gold stickers or those from the Carson City Mint are especially sought after by collectors.
Q3: What is the significance of the 1840 Seated Liberty dollar?
A3: The 1840 Seated Liberty dollar is significant as it was the first year the design was struck for general circulation. The coin is popular due to its historical importance and its status as the first in the series.
Q3: What is the significance of the 1840 Seated Liberty dollar?
A3: The 1840 Seated Liberty dollar is significant as it was the first year the design was struck for general circulation. The coin is popular due to its historical importance and its status as the first in the series.
Q4: Why did some Seated Liberty dollars have such low mintage?
A4: Many Seated Liberty dollars had low mintage due to the fact that most depositors during the era didn’t request large quantities of dollars, and many of the coins minted were later melted down, making the remaining examples rare.
Q5: What does a CAC gold sticker indicate?
A5: A CAC (Certified Acceptance Corporation) gold sticker on a coin indicates that it has been verified by experts as a top-quality example of its grade, further increasing its value among collectors.