Q. David Bowers
General comments: The preceding analysis fits rather well with my own observations of availability of certain issues. In addition to the Proofs in grades from Proof-60 to 65 or better there are at least several dozen impaired Proofs existing of various dates 1858-1873, and these must be added to the "Total Proofs (60 to 65+) estimated to exist" entries.
However, in reviewing the preceding, Weimar W. White thought my estimates of surviving pieces to be too liberal. Letter to the author, May 17, 1992.) He suggested 103 as an estimate for surviving 1858 dollars, 196 for 1859, 204 for 1860, 201 for 1861, etc. By adjusting my multipliers, any number of different answers can be obtained. My estimates are just that: estimates. Those of others can and do vary.
Historical Prices
The following survey of prices is for historical purposes only and will serve' to give you a sense of the flavor of items offered at auction. This section can be skipped over quickly if such material is not of interest. It is evident that as early as the 1850s and 1860s, numerous Liberty Seated dollars were considered to be scarce on the numismatic market. It is also evident that then, as now, there was little consistency in the pricing structure.
In each instance, coins are listed in order by date, variety, and descending order of grade within the variety. In the actual auction catalogues the order may have been different. 'There were no grading standards in effect during the nineteenth century, and one cataloguer's EF might be equal to another's Unc. In general, coins listed as Poor, Fair, or Good would be designated higher grades today. However, the opposite is true for coins listed as Unc.; today, many would be called EF or AU.
The Coin Collectors' Manual, 1860, by George F. Jones, published by Edward Cogan in Philadelphia, gave auction price records for silver dollars and other coins. Among the silver dollars listed were items sold in M. Thomas' sale of the A.C. Kline Collection, June 12, 1855, Edward Cogan's sale of the Joseph N.t. Levick Collection, December 19, 1859, multiple New York sales of 1859, and a Cogan sale of 1860. The following Liberty Seated silver dollars were included:
A.C. Kline Sale (June 12, 1855):
1840 through 1850, at a small advance on par value.
Joseph N.T. Levick Sale (December 19, 1859):
1840 Good $1.25.
1841 Good $1.15,
1842 Good $1.15.
1843, Good $1.20.
1844 Scarce, VG $2.87.
1845 Rather scarce VG $2.00.
1846 Fine $1.15.
1847 Fine $1.20.
1848 Scarce, Fine $2.13.
1849 Rather scarce, Fine $1.25.
1850 Scarce, VG $1.63.
1851 Extremely scarce, Proof $18.00.
1852 Extremely scarce, Proof $17.00.
1853 Rather scarce (no Proofs),(The author (Jones) hastened to point out that no Proofs were struck in 1853. After the book was published in 1860, it is believed that the Mint struck a quantity of 1853 Proof novodels, said to have been 12 in all.) Fine $1.63.
1854 Scarce, Proof $5.50.
New York Sales (1859):
1841 VF $1.50.
1842 Good $1.25.
1843 Fine $1.35.
1844 Scarce, Fine $1.50.
1845 Rather scarce, Fine $1.30.
1846 VF $1.50.
1847 VF $1.25.
1848 Scarce, Good $1.63.
1849 Rather scarce, Fine $1.30.
1850 Scarce (no grade given) $1.25.
1852 Extremely scarce, Good $13.00.
1853 Rather scarce (no Proofs), Fine $1.75.
1854 Scarce, VF $3.75.
1855 Very scarce, Proof $6.50.
1856 Rather scarce, VF $1.25.
1857 Rather scarce, VF $1.63.
1858 Very scarce, Proof $5.00.
1859 Good $1.20.
Cogan Sale (1860):
1840 Fine $1.30.
1841 VF $1.50.
1842 VF $1.38.
1843 VF $1.45.
1844 scarce, VG $3.00.
1845 Rather scarce, VG $2.25.
1846 VG $1.15.
1847 VF $1.15.
1848 Scarce, VG $4.00.
1849 Rather scarce, Fine $1.50:
1850 Scarce, VF $2.12.
1853 Rather scarce (no Proofs), VF $2.38.
1854 Scarce, Proof $6.50.
The William Lilliendahl Collection catalogued by W.H. Strobridge, sold by Bangs, Merwin & Co., May 26-28, 1862. This impressive offering was one of the most spectacular of early American coin sales. However, although the sale contains the standard rarities (1851, 1852, 1858), the grades of typical issues of the 1840s are not memorable. It is to be remembered that such listings as VG and Fine in 1862 probably represent coins that would be graded considerably higher today. These catalogue listings, from a copy preserved by the American Numismatic Society, are accompanied in some instances by buyers' names.