The 1870-S Seated Liberty Dollar stands as one of the most coveted treasures in American numismatics. Its rarity, historical significance, and the mystery surrounding its production have captivated collectors and historians alike.
Historical Context
The Seated Liberty Dollar, designed by Christian Gobrecht, was minted from 1840 to 1873. The obverse features Lady Liberty seated, holding a shield and a liberty cap, symbolizing freedom and vigilance. The reverse showcases a heraldic eagle clutching arrows and an olive branch, representing war and peace.
In 1870, the San Francisco Mint produced a limited number of these dollars. However, official records of their mintage are conspicuously absent, adding to their mystique and rarity. It’s believed that only around 12 specimens exist today, making it one of the rarest U.S. coins.
Rarity and Value
The scarcity of the 1870-S Seated Liberty Dollar has led to significant appreciation over time. The finest known specimen, graded MS62 (Mint State), sold for over $1 million in 2003. Other examples in various conditions have fetched between $470,000 and $805,000 at auctions.
Notable Sales
Here are some of the most notable sales of the 1870-S Seated Liberty Dollar:
| Year | Grade | Auction House | Sale Price |
|---|---|---|---|
| 2003 | MS62 | Stack’s | $1,092,500 |
| 2007 | VF25 | Stack’s | $552,000 |
| 2008 | VF25 | Stack’s/Bowers | $705,698 |
| 2015 | VF25 | Heritage | $470,000 |
Identifying an 1870-S Seated Liberty Dollar
If you suspect you possess this rare coin, consider the following identification markers:
- Date and Mint Mark: The obverse should display the year “1870.” The reverse, beneath the eagle, should bear the “S” mint mark.
- Design Features: Familiarize yourself with the Liberty Seated design to ensure authenticity.
- Weight and Composition: The coin should weigh approximately 26.73 grams and comprise 90% silver and 10% copper.
Given the prevalence of counterfeits, it’s imperative to have the coin authenticated by reputable grading services such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
Conclusion
The 1870-S Seated Liberty Dollar is a numismatic gem, with its rarity and historical significance contributing to its multimillion-dollar valuations. While the likelihood of discovering one in circulation is exceedingly slim, understanding its features and history enriches the appreciation of U.S. coinage.
FAQs
Why is the 1870-S Seated Liberty Dollar so valuable?
Its extreme rarity, with only about 12 known examples, coupled with its historical context, makes it highly sought after by collectors.
How can I verify if my coin is an authentic 1870-S Seated Liberty Dollar?
Check for the 1870 date and “S” mint mark. However, due to sophisticated counterfeits, professional authentication is essential.
Where can I get my coin authenticated?
Reputable services like the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) offer authentication and grading services.
What factors influence the value of the 1870-S Seated Liberty Dollar?
Factors include the coin’s condition (grade), provenance, and current market demand.
Are there other rare Seated Liberty Dollars I should be aware of?
Yes, other notable rarities include the 1871-CC and 1873-CC Seated Liberty Dollars, which also command high values among collectors.
