1865 $1 OC-2, R.2, MS65 PCGS....

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1865 Seated Dollar, Exceptional MS65
Tied for Finest Certified

1865 $1 OC-2, R.2, MS65 PCGS. Osburn-Cushing Die State b/d. By the summer of 1862, all regular-issue U.S. coinage as well as any precious-metal foreign coins had disappeared from circulation -- even the humble copper-nickel and bronze Indian cents. Silver coin production declined significantly during the war years, and whatever silver coin was produced was promptly either tucked away or exported. Bowers' Silver Dollar Encyclopedia maintains that most of the 1865 Seated dollar issue was exported to Central and South America. Osburn-Cushing's research does not mention the exports, although it notes the availability of the 1865 dollars -- despite a higher 46,500-piece mintage -- is at least as limited (or more so) than the other Civil War dates.

Regardless of the precise disposition of the coins nearly 150 years ago, the issue is inarguably rare in Mint State grades. At the Gem level the certified population drops off of the proverbial cliff, with but three MS65 examples graded at each PCGS and none at NGC (12/25). This coin displays wonderful gold-tinged, silver-gray surfaces with nary a visible distraction. What little contact can be seen is of the most picayune kind, and the piece offers generous eye appeal overall. Light diagonal die polishing marks are visible on both sides. A bold strike features sharp star centers, Liberty's gown clasp, and the eagle's feathering. This is a marvelous example, likely unsurpassable in today's marketplace and a capstone for any advanced Seated dollar collection.
Ex: ANA Signature (Heritage, 7-8/2008), lot 1754; The Pelican Bay Collection, Part II / ANA Signature (Heritage, 8/2025), lot 3179.

Coin Index Numbers: (Variety PCGS# 932763, Base PCGS# 6955)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS