Q. David Bowers
Collecting Liberty Seated Dollars
Forming a Collection
Many have tried to assemble a definitive collection of Liberty Seated dollars. The prime stumbling block is the 1870-S, of which only nine (possibly 10) examples exist. If this issue is ignored, then the most difficult in all grades are the 1851 and 1852 originals, the Proof-only 1858, and, among branch mint coins, the 1873-CC. Next comes 1871-CC, then 1872-CC. Other branch mint issues such as 1846-O, 1850-O, 1859-S, 1870-CC, and 1872-S are somewhat elusive, particularly in higher grades. Among Carson City coins, 1870-CC is the most available and also is the best struck, often occurring (in better grades) with a prooflike surface.
1859-O and 1860-O are readily obtainable in Mint State, the typical piece being MS-60 with heavy scarring from coin-to-coin contact in bags.
After 1858, through the end of the series in 1873, Proofs were made in quantities averaging about 500 to 1,000 per year. Although these quantities in an absolute sense are small, still the remaining coins from the Proof mintages survive in larger numbers than do Mint State coins of the same dates. In terms of auction appearances, for some dates in the early 1860s, more Proofs appear in catalogues than do VF, EF, AU, and Mint State coins combined! Impaired Proofs sell at a deep discount from attractive Proofs and provide the most feasible way to acquire high-grade examples of such dates as 1862, 1863, and 1864.
Coins for Type Sets
Collectors desiring a high-grade "type" Liberty Seated dollar to illustrate the 1840-1865 style without motto will typically acquire an 1859-O or 1860-O in MS-60 grade. Few other candidates are available, although auction-watching may produce rewards. Proofs are obtainable of the 1859-1865 years and are often quite attractive if the grade is Proof- 63 or higher. For coins of the 1866-1873 with-motto type, high-grade business strikes are elusive (but not as much so as the earlier type), while Proofs are encountered with some regularity.
How to Get Started
If you don't own a Liberty Seated dollar, and find the field potentially interesting, here are some suggestions for getting started: Rather than plunging in and buying a Mint State or Proof coin, budget $1,000 (admittedly not pocket change) and do the following:
1. Buy a nice EF-40 1844 dollar. This date is rare, thus you will own something numismatically desirable. In addition, this is the only date with "quad stripes," which each large stripe in the obverse shield made up of four tiny stripes, instead of three; the result of die doubling. This will give you a nice coin of the 1840-1865 design type without motto on the reverse.
2. Buy a nice EF-40 dollar of a common date with motto, of the type of 1866-1873. If you want to spend a bit more, buy a scarcer date or an 1870-CC.
3. Write to the Liberty Seated Collectors Club (I'll send you the address, which changes from time to time, if you write to me) and ask for membership information. Members of the Liberty Seated Collectors Club, which began its activities in 1974, have published much useful information in this regard, although not as much on Liberty Seated dollars as on lower denominations. Back issues of the Society's publication, The Gobrecht Journal, provide a good starting point for the researcher. While these are nearly all out of print, the L.S.C.C. offers for sale "Collective Volumes" which reprint virtually all of the articles. Buy these. When they arrive, read all of the interesting articles about Liberty Seated dollars, some of which will be about your coins.
Alternative suggestion: If you're hesitant, skip nos. 1 and 2 above and go directly to 3.
Research Possibilities
The entire field of Liberty Seated dollars admits numerous possibilities for further study, although varieties are mostly limited to doubled dies, repunched dates, blundered dates, and positional differences in the date logotypes.
Just as A1 Blythe has done with Liberty Seated half dimes, Kamal Ahwash with Liberty Seated dimes, and Larry Briggs with Liberty Seated quarters (the first and-third representing the two major studies of Liberty Seated coins in print as of July 1992), the possibility exists for more research to be accomplished in the study of minute date and mintmark varieties. Much in this direction has already been achieved by Walter H. Breen and appears in his Encyclopedia.
Collecting Circulated Dollars
Setting Goals
Just as the collector of early American large cents would not set his sights on acquiring a Mint State collection, for peace of mind and sense of accomplishment, a more reasonable goal in the Liberty Seated dollar series is to acquire coins in EF-40 or better grade. In EF-40 or better grade, the tough, issues are 1851 original, 1852 original, 1858 (you will have to buy a Proof or impaired Proof of this date and, Philadelphia Mint coins from 1853 through 1869. Among branch mint coins, 1846-O; 1850-O, and 1859-S, while scarce, can be obtained with some patience, as can 1870-CC and 1872-S. The 1871-CC will prove to be difficult; and the 1873-CC will be a major challenge, not-necessarily because it is unavailable-as coins do come on the market from time to time-but because of the widespread demand for them. So far as 1870-S is concerned, 'the fact that only nine specimens are confirmed to exist (these nine show evidence of wear; a 10th coin is reported and is said to be Uncirculated) dictates that offerings will be few and far between; on the average of one specimen every few years.
Another and easier goal is to collect a group containing one of each mint with and without motto: six coins in all. No-motto coins would include one from Philadelphia of any date 1840-1865; from New Orleans, probably 1859-O or 1860-O; and from San Francisco, 1859-S. (One could even try for all three dated 1859.) With-motto coins would include one from Philadelphia of any date 1866-1873; from Carson City, probably 1870-CC; and from San Francisco, 1872-S. The set of six could make a nice display.
Of course, a set in a lower grade such as VF-20 will cost even less and can be completed in a shorter time, At the VF-20 to EF-45 level you will find that dealers who service want lists or who issue fixed price catalogues will be your best source. Auctions offer many possibilities for higher graded coins, including Mint State pieces and Proofs.