Q. David Bowers
Collecting Silver Dollars in 1859
In 1859 in the American Numismatical Manual; Montroville Wilson Dickeson, M.D., commented on the availability of silver dollars, including the Liberty Seated series. His remarks cover much of the first two decades of the issue and give an interesting view of how such coins were considered by numismatists of the era.
The 1840 dollar, the first year of issue of the Liberty Seated series, was called "scarce," while the issue of the following year, 1841, was designated as "plenty." Similarly, 1842 and 1843 were "plenty," but 1844 was "rare" and 1845 "scarce." Dollars of 1846 were likewise "scarce," but those of 1847 were "plenty." Followed by the "scarce" 1848 and "plenty" of the 1849 issue, the 1850 dollar was considered to be "scarce," and the 1851 dollar "extremely rare." The dollar of 1852 was considered "rare," while that of 1853 was "scarce" The 1854 Liberty Seated dollar, just five years old when Dickeson wrote his book in 1859, was already considered to be "rare," but 1855 for some reason was in the "plenty" category, followed by 1856 "rare" and 1857, the last year studied, "plenty." Doubtless, Dickeson knew little about the 1857 dollar except that it was a current issue. Indeed, his information apparently was compiled in the summer of 1857, for his comments referred to production half way through the year.
The Year 1859 in History
Tensions concerning slavery mounted rapidly. The federal Supreme Court upheld the hated (by Northerners) Fugitive Slave Act of 1850 and reversed Wisconsin's decision that it was unconstitutional. On October 16th, John Brown led a party of over a dozen whites and five blacks to Harper's Ferry, Virginia, and took possession of the town and the federal arsenal there, the beginning of a hoped-for widespread insurrection by slaves. President Buchanan took action, and two days later Brown's remaining raiders were captured by federal troops under the command of Col. Robert E. Lee. Brown was subsequently convicted of treason. He was hanged on December 2nd. A popular song stated that while John Brown's body lay "moldering in the grave, his truth goes marching on." (The tune for this later served for The Battle Hymn of the Republic.) Ralph Waldo Emerson called Brown a "new saint" who "will make the gallows glorious like the Cross."
In Richmond, Virginia a newspaper advertisement offered a $25,000 bounty for the heads of selected Northerners. A local newspaper recommended that Southerners who entertained visitors from the North should be watched closely. Meanwhile, prices for healthy male slaves continued to increase, and a good farm hand was worth as much as $2,000.
In the newly-discovered Comstock Lode in Nevada, prospector George Hearst paid $450 for a half-interest in a mine which proved to be a bonanza. He then used his new-found wealth to engage in newspaper publishing and other enterprises. His son, William Randolph Hearst, would use the family fortune to build San Simeon, a castle on the California coast, and to expand his publishing empire. Meanwhile, in the Colorado district of Kansas Territory, an estimated 10,000 gold-seekers arrived in the Denver area to stake their claims to fortune. Horace Greeley, editor of the New York Tribune, visited Denver and learned that the town's only hotel was a tent. As always, gold proved elusive to many, but new arrivals soon found occupation in other trades and laid the foundation for permanent settlements. Oregon was admitted to the Union and in the early twentieth century would have its own significant gold discoveries (near Sumpter, Baker City, etc.).
In Titusville, Pennsylvania, Edwin Laurentine Drake struck oil at a depth of 70 feet, and soon his well was yielding at the rate of 2,000 barrels per year. An "oil rush" ensued, the district soon teeming with drillers and prospectors. The general area would continue to be a source of oil and natural gas up to the present era. Clearly; 1859 was a very good year for wealth through natural resources.
In Australia two dozen rabbits from England were set loose on the estate of Robert Austin to provide targets for sportsmen. As rabbits are wont to do, they multiplied, and within a decade or two millions of the long-eared creatures would cause a disaster by eating grass intended for sheep.
The year 1859 saw the production of silver dollars at three mints, an unprecedented number of minting locations: Philadelphia, New Orleans, and San Francisco. The Flying Eagle cent, in circulation only since 1857, was abandoned, and in 1859 the Indian Head cent made its appearance; only in 1859 did its reverse feature a laurel (or olive?) wreath. The design would continue, with some modifications, until replaced by the Lincoln cent in 1909. James B. Longacre introduced the new (Type III) design of the silver three-cent piece. In later years, mintages dwindled, and the Mint Act of 1873 would abolish the denomination. At the Philadelphia Mint regular issue half dimes of 1859 were of a unique design with hollow centers to the obverse stars and with slimmer arms to Miss Liberty. Patterns were made for new designs of the half dime and dime. Longacre and Anthony C. Paquet produced a bewildering profusion of pattern half dollars.
Bangs & Co. held an auction of the J K. Curtis Collection, which, like many prominent nineteenth century cabinets, featured a 1794 silver dollar, in this case in VF grade.