1851 $1 MS62 PCGS....

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Attractive 1851 Seated Liberty Dollar, MS62
A Classic Rarity

1851 $1 MS62 PCGS. Massive exports of silver caused the Mint to limit production of silver dollars in 1851. A tiny mintage of 1,300 pieces was accomplished during the year, but records are unclear as to their purpose. They may have been requested by bullion depositors, or coined for the government account. Commercial needs for the dollar denomination were satisfied by a huge mintage of 3.6 million gold dollars in 1851. In Silver Dollars & Trade Dollars of the United States, Q. David Bowers relates, "The Liberty Seated dollar had become a second-rate coin in American commerce, and from this point onward little notice would be made of it."
Few coins were released into circulation at the time of issue, and most seen today are in lower Mint State grades. When coin collecting became a popular pastime in the late 1850s, collectors soon realized this issue was almost impossible to locate. In 1858 Mint Director James Ross Snowden ordered proof restrikes of the date made to trade with collectors for specimens needed for the Mint Cabinet. Auction appearances of these coins began at an early date, with perhaps the first being lot 134 in the Gratz Collection (Edward Cogan, 5/1859). The lot realized $15.00, a remarkable sum, considering the coin had only been struck eight years before.
The present coin is an attractive specimen of this rare date. Lovely iridescent tones of rose and lilac highlight the prooflike fields, while traces of silver cling to the devices. The strike is strong, with exquisite detail on the hair and star centrils on the obverse, and sharply delineated feathers on the eagle's breast on the reverse. A few scattered handling marks are consistent with the grade. Overall eye appeal is outstanding. Population: 7 in 62, 8 finer (3/09).
From The Joseph C. Thomas Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 24YP, PCGS# 6939, GSID# 7201)

Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.77346oz
Mintage: 1,300

View all of [The Joseph C. Thomas Collection, Part One ]

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