1870 $1 MS65+ PCGS. CAC....

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1870 Seated Dollar, Frosty MS65+
Major Philadelphia Condition Rarity
Two Coins Graded Finer

1870 $1 MS65+ PCGS. CAC. Radiant, frosty mint luster illuminates both sides of this high-end Gem 1870 Seated dollar, while the surfaces show a suggestion of light golden color, primarily around the borders. The eagle's left (facing) talons, as well as Liberty's head and several stars, are not fully defined, but the surfaces are devoid of significant abrasions, and the corresponding eye appeal is fully deserving of the Gem grade assessment.

Population Data (4/15): PCGS reports three examples in MS65 (one in MS65+) and two MS66 finer. NGC lists four in MS65 and none finer. One of three in MS65 with the CAC green approval sticker.

Heritage Commentary: The Philadelphia Mint struck 415,000 Seated dollars in 1870, but the issue is not nearly so plentiful in Mint State as one might be led to assume. A significant portion of this issue circulated domestically, something that had not occurred to a notable extent in the series since the 1840s. This accounts for the overall availability of circulated examples of this date in comparison to those of issues from the 1850s and 1860s, which were primarily exported for trade and/or melted by various interested parties, including the Mint.

Some 1870 Seated dollars were also exported, but not to a crippling extent, which left a significant number of pieces for local commerce and for Treasury needs. It is speculated, however, that additional examples of the 1870 date were melted in the Pittman Act destructions of 1918-20.

For whatever reason, collectors in 1870 saw little need in saving high-grade Mint State examples of this issue, and as a result it is a significant condition rarity in Gem grades. In the past two decades, we have offered only two other MS65 examples, as well as a single MS66 coin, which was merely a reappearance of one of the two Gems, regraded. The current Plus-graded coin is an important condition rarity and among the finest examples of this date we have ever handled.

Provenance: Purchased from Legend Numismatics (4/2011).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 24ZD, PCGS# 6963, Greysheet# 7219)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from PCGS