Q. David Bowers
Rarity in, MS-65 .Grade
At the MS-65 or higher level a very curious chart of relative rarity emerges. The 1860 is the most plentiful date in MS-65 grade, although in worn grades it is one of the rarer Liberty Seated dollars. The 1859-O and 1860-O, both of which are common in grades from MS-60 to 62; are very rare in MS-65.
1860 Approximate population MS-65 or better: 10 to 20
1866: 10 to 15
1863: 8 to 12 (tied with 1871)
1871: 8 to 12 (tied with 1863)
1864: 6 to 10
1854:5 to 8 (tied with 1872)
1872: 5 to 8 (tied with 1854)
1847: 4 to 8 (tied with 1861, 1869)
1861: 4 to 8 (tied with 1847, 1869)
1869: 4 to 8 (tied with 1847, 1861)
1860-O: 3 to 6
1851: 2 to 4 (tied with many others)
1853: 2 to 4 (tied with many others)
1857: 2 to 4 (tied with many others)
1859: 2 to 4 (tied with many others)
1859-O: 2 to 4 (tied with many others)
1862: 2 to 4 (tied with many others)
1867: 2 to 4 (tied with many others)
1870: 2 to 4 (tied with many others)
1868: 2 or 3 1841: 1 to 3
1848: 1 or 2 (tied with 1849, 1852, 1865, 1873)
1849: 1 or 2 (tied with 1848; 1852, 1865,1873)
1852: 1 or 2 (tied with 1848, 1849, 1865, 1873)
1865: 1 or 2 (tied with 1848, 1849, 1852, 1873)
1873: 1 or 2 (tied with 1848, 1849, 1852, 1865)
1840: 0 or 1 (tied with many others)
1850: 0 or 1 (tied with many others)
1842: 0 or 1 (tied with many others)
1843: 0 or 1 (tied with many others)
1844: 0 or 1 (tied with many others)
1845: 0 or 1 (tied with many others)
1846: 0 or 1 (tied with many others)
1846-O: 0 or 1 (tied with many others)
1850-O: 0 or 1 (tied with many others)
1855: 0 or 1 (tied with many others)
1856: 0 or 1 (tied with many others)
1859-S: 0 or 1 (tied with many others)
1870-CC: 0 or 1 (tied with many others)
1871-CC: 0 or 1
1872-CC: 1 (tied with many others)
1872-S: 0 or 1 (tied with many. others)
1870-S: 0 (tied with 1873-CC)
1873-CC: 0 (tied with 1870-8)
Rarity of Proof Liberty Seated Dollars In many ways, estimates of the rarity of Proof Liberty Seated dollars are the easiest to make and are probably the most accurate. This is because such coins were specifically made for numismatic purposes, in most instances (especially after 1858) were documented, and their sales have been widely recorded in auction catalogues; reference books, etc.
Further, there is little likelihood of a significant hoard coming on the market in the future to cause a perturbation' of the data, none (except pieces which might have been spent) was melted under the Pittman Act of 1918, and none was released by the Treasury in the great distribution of 1962-1964.
On the other hand, there were unrecorded shenanigans at the Mint, such as the restriking of Proof Liberty Seated dollars dated 1851, 1852, and 1853.
Virtually every Proof issue is a special case unto itself, and it is hard to draw general conclusions. However, such broad factors such as export policies, the price of silver after 1850, the Mint advocacy of the gold dollar vs. the silver dollar after 1849, the suspension of specie payments, etc.-prime considerations in the evaluation of Mint State and circulated coins-had relatively little effect on Proofs. Proof Liberty Seated dollars had their own set of causal factors, many of which were numismatic rather than commercial or economic. For example, profit from clandestine sales to collectors (numismatic considerations) motivated the "Midnight Minters" to make Proof dollars of 1851-2-3.
Each Proof issue from 1840 to 1873 has its own individual commentary in the specific listings to follow. Population reports of grading services, auction records, and other numismatic data are very important in this section of the study.
In general, Proofs dated from 1840 through and including 1857 are exceedingly rare, those dated 1858 are very rare and at the same time very popular, and those dated from 1859 through 1873 are rare, but not as rare as those dated earlier. There is no such thing as a common Proof Liberty Seated dollar.