1873 Liberty Seated Dollar : History & Value

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

Whereas the Philadelphia Mint struck Liberty Seated {Dollars} in more and more bigger portions from 1869 onward, demand for the massive silver coin was typically lower than that of the smaller and extra sensible Liberty Seated Half Greenback. Congressional sentiment that the United States Mint was due for reform had been rising steadily since earlier than 1870 and far of the intent of the Mint Act of 1873 had been debated in 1870 and 1871. This was pushed partially by modifications in Europe. For the reason that Paris Financial Convention of 1867, the main European powers had been shifting to undertake a global gold customary and decimalization. These concepts discovered some help within the United States, which had established its bimetallic customary within the Coinage Act of 1792, solely to battle with sustaining the authorized ratio over time.

The brand new legislation elevated the load of the dime, quarter, and half greenback, whereas eliminating the Two-Cent Piece, the Silver Three-Cent Piece, the half dime, and the silver greenback. Instead of the greenback, Congress approved the manufacturing of a Commerce Greenback for export.

As a byproduct of this laws, America shifted nearer to the gold customary, and the influence was felt acutely by working People briefly order. In September, a monetary panic spurred on by hypothesis within the railroad trade, the demonetization of silver, and different components unfold throughout the industrialized West.

Two years later, with the passage of the Specie Cost Resumption Act, Congress sought to finish the period of fiat cash necessitated by the American Civil Battle. Sadly, this legislation additional devalued silver. For these causes, silver proponents now considered the elimination of the silver greenback because the “Crime of 1873”.

The Final Liberty Seated {Dollars}

Earlier than the Coinage Act of 1873 took impact, the Mint produced almost 300,000 1873 Liberty Seated {Dollars}. Manufacturing started on January 7, 1873, and concluded on Could 29. In accordance with numismatist R.W. Julian’s analysis on the Nationwide Archives, the Philadelphia Mint struck solely 30,500 of the 293,600 1873 Liberty Seated {Dollars} minted (enterprise strikes plus 600 Proofs) earlier than the legislation’s passage. A lot of the rest was struck in March.

The Carson Metropolis and San Francisco mints additionally struck Liberty Seated {Dollars} in 1873. The Carson Metropolis Mint struck simply 2,300 items from which not more than 200 or so survive. The San Francisco Mint reported a mintage of 700 items however all are believed to have been destroyed.

For the typical collector, the 1873 Liberty Seated Greenback struck at Philadelphia is the one collectible final 12 months problem of the sort and sells for between $1,000 and $2,500 in About Uncirculated and between $8,000 and $10,000 in Alternative Uncirculated.

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Market Information and Noteworthy Specimens

High Inhabitants: PCGS MS66+ (1, 10/2024), NGC MS64 (2, 10/2024), and CAC MS66 (3:0 stickered:graded, 10/2024).

• PCGS MS66+ #81226672: Del Loy Hansen. Imaged on PCGS CoinFacts. Creamy facilities, extremely lustrous. Hints of rose/brown firming alongside the edges.
• PCGS MS66: “The Northern Bay Assortment, Half III,” Stack’s, Could 2006, Lot 4491 – $51,750. Imaged on PCGS CoinFacts. Awash in gold and orange firming with cobalt blue and sea inexperienced firming alongside the periphery.
• PCGS MS65+ CAC #06666499: As PCGS MS65 CAC #6578696. “The James Mossman Assortment,” Heritage Auctions, January 8, 2009, Lot 3958 – $63,250; As PCGS MS65+ CAC #06666499. Heritage auctions, August 11, 2010, Lot 3296 – $63,250. Creamy interiors with dappled gold/inexperienced firming alongside the periphery. Tiny ticks on torso. Two tiny ticks to the correct of knee. Ticks under eagle’s neck.
• PCGS MS65+ #21572808: As “MS66”. “The Riverly Assortment,” Heritage Auctions, August 6, 1998, Lot 8189 – $21,850. Not imaged however described as having “show brilliant mint frost beneath the a number of layerings of firming that cowl both sides. Wealthy sea-green, citrine, and rose patina swirl over both sides with the colour (and the luster) being the first focal factors.” As PCGS MS65 #5379651. “The Morris Silverman Assortment,” Heritage Auctions, April 2002, Lot 4067 – $26,450. As PCGS MS65 #21572808. Heritage Auctions, January 5, 2006, Lot 3238 – $40,250; “The Madison Assortment,” Heritage Auctions, January 10, 2008, Lot 2946 – $63,250; “The Eugene H. Gardner Assortment, Half III,” Heritage Auctions, Could 12, 2015, Lot 98572 – $58,750. As PCGS MS65+ #21572808. PCGS person SeatedCrazy. Upgraded 1/2 level. Awash in inexperienced and gold firming.
• PCGS MS65 #34706063: Heritage Auctions, April 26, 2018, Lot 4276 – $38,400. Rose firming alongside the periphery.
• PCGS MS65 #84266293: As PCGS MS65 #29752587. Heritage Auctions, July 10, 2014, Lot 3816 – $52,875; “The Mesquite Assortment,” Heritage Auctions, April 27, 2017, Lot 4121 – $42,300. As PCGS MS65 #84266293. Heritage Auctions, August 2, 2017, Lot 4032 – $42,300. Good with scattered rose firming alongside periphery.
• NGC MS65 #3815758-001: Heritage Auctions, October 29, 2015, Lot 3386 – $30,550. Good. Semi-Prooflike with frosted units.
• NGC MS65 #1633167-004: Heritage Auctions, September 17, 2015, Lot 4039 – $37,600. Good. Deep tick to the correct of star 11. Deep tick within the area between the eagle’s proper wing and department.

Design

Obverse:

The obverse options Liberty seated on a rock in classical flowing robes, her head turned to the correct (viewer’s left). Liberty’s left arm is bent, her raised hand holding a Liberty pole with a cap. The precise arm is prolonged downward at her facet, with the hand balancing a protect with the phrase LIBERTY displayed in a curving banner. 13 six-pointed stars encompass the seated determine inside a denticulated rim with seven on the left facet, one between Liberty’s head and the cap, and the remaining 5 alongside the correct. The date 1873 is centered on the backside between the bottom of the rock and the rim.

Reverse:

On the reverse, an eagle is prominently displayed inside a denticulated rim. The eagle’s wings are partly unfold however folded downward on the joint as if the majestic hen has simply landed or is getting ready to fly away. An olive department is within the dexter claw (viewer’s left); the sinister claw clutches three arrows. The legend UNITED STATES OF AMERICA encircles the highest two-thirds of the coin contained in the rim, with the ONE DOL. denomination centered on the backside.

Edge:

The sting of the 1873 Liberty Seated Greenback is reeded.

Coin Specs

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References

Julian, R.W. “The Silver Greenback, 1853-1873”, Numismatic Scrapbook Journal. August 1964. 2124-2128. Information compiled and analyzed from the Nationwide Archives.
 

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