Coin Specifications

Category: Seated Liberty Dollars (1840-1873)
Mint: Philadelphia
Mintage: 30,700
Catalog: KM-71
Obverse Designer: Christian Gobrecht
Reverse Designer: Christian Gobrecht
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $11.02 (11/26/2015)
Diameter: 38.1mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
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1864 S$1 MS obverse 1864 S$1 MS reverse

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There are no NGC varieties for this coin.

Description & Analysis

The 1864 is widely recognized as a rarity in mint condition, but the reasons why are not always obvious. Until the discovery of the Comstock Lode in the late 1850s, silver was mined in this country in tiny quantities. As a result, mintages for silver coins were relatively low for most denominations. After the Comstock Lode began to flood the commodities markets with silver in the United States, mintages slowly began to rise in certain denominations and years, but not uniformly. The one complicating factor that prevented it from rising in all denominations was the Civil War. It may seem peculiar to Americans today, but in the early 1860s the outcome of the War Between the States was anything but a foregone conclusion. There was a distinct possibility in the early years that the South might actually win its independence. If it did, what would become of the North? How would Northern textile mills survive without Southern cotton? This question, of course, was answered midway through the war by the purchase of cotton at favorable prices from Egypt. Nevertheless, there was great uncertainty on both sides of the conflict, and people's natural reaction was to hoard silver and gold when it was found (which was seldom).

In his Silver Dollar Encyclopedia Q. David Bowers cites another reason for the absolute scarcity of this date: 'Silver dollars of the 1864 year did not circulate domestically, and their rarity today is explained by the fact that most were exported.' In addition to an absolute rarity, the 1864 dollar is also a condition rarity.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


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Price Guide

Last Updated: 9/22/2015

Click on a price to see historical prices, comparison charts and trends.

1864 S$1 MS
Base $ 450 575 775 1025 1800 2500 3200 3700 4000 4800 7100 9250 21000 65000 125000 - - - -
$ - - - - - - - 13000 27500 80000 - - -

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Total Graded: 83
Low Grade: G
Average Grade: 53
High Grade: 65

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
3/13/1996 PCGS XF 40   Teletrade Auction 0823, 823/Lot# 647 $490.50
8/7/1998 PCGS XF 45   Heritage Auctions 1998 ANA Signature Sale #190, 190/Lot# 8166 $747.50
2/20/2005 PCGS MS 63   Goldberg February 20-23, 2005 Pre-Long Beach Coin Auction, 28/Lot# 1722 $6,325.00
8/11/2011 NGC AU 55   Heritage Auctions 2011 August Chicago Signature US Coin & Platinum Night Auction Session(3), 1158/Lot# 4327 $2,760.00
7/26/2012 NGC AU 50   Stack's Bowers The August 2012 Philadelphia ANA World's Fair of Money Auction, 140/Lot# 274 $1,138.58
7/7/2013 PCGS Genuine XF   GreatCollections GreatCollections Coin Auctions 07/07/2013, 82/Lot# 121905 $423.52
10/8/2014 PCGS VF 35   Heritage Auctions 2014 October 8 - 13 PNG New York Invitational US Coins Signature Auction - New York Session(2), 1210/Lot# 3677 $1,645.00

NGC Registry

NGC Registry Score 1864 S$1 MS
Registry Image Gallery

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