1868 $1 MS (PCGS# 6961)

FUN07 Platinum Night #1

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    Heritage Auctions
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Lot Description
1868 $1 MS65 Prooflike NGC. Breen-5479, Heavy Date. The mintage of Seated silver dollars increased considerably in 1868 from the scant mintages of 1861-1867 that numbered only in the tens of thousands, to more than 162,000 pieces. This issue is nonetheless quite challenging in Choice Mint State, and rare in Gem condition. In fact, even circulated dollars of this issue are "quite scarce," according to the Bowers-Borckardt silver dollar Encyclopedia (1993), "but because of the high mintage figure they are nearly universally overlooked by the numismatic fraternity." Concerning Mint State specimens, Bowers-Borckardt comments, "The year 1868 does not come to mind immediately when one thinks of rare coins in the Liberty Seated series, but a perusal of the data, including certification service population reports, indicates that it is indeed very rare, even if it is unappreciated and overlooked. Dealer specialist Chris Napolitano stated that an MS-61 coin was the finest business strike he could locate in six years of searching." While recent submissions to the certification services have somewhat increased the number of known specimens in Choice Mint State and finer grades, the Gem Prooflike condition of the present coin is unique for the issue, as it is the only one so certified at NGC. There are three nonprooflike coins in Gem or finer condition at that service (11/06). PCGS has graded three MS66 coins, none of them prooflike. There were two date styles in this year for business strikes. The Heavy Date variant has the date impressed quite deeply into the die. The present example is brilliant silver-white, with reflective fields contrasting well with the frosty surfaces. There are no singular impairments on either side, expectedly so, of course. A prize find for the Seated dollar specialist, and unimprovable in technical merit and in aesthetic appeal.
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