The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
Were one to judge from the mintage alone (416,000 pieces struck), it would appear that the 1870 is a fairly common Seated Dollar. This is not the case, however, and the speculation is that quite a large number of this date were melted in 1918-20 under the Pittman Act. High grade coins are as difficult to locate as the several issues that precede it and, as with other dates, proofs are more available than business strikes.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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