Coin Specifications

Category: Seated Liberty Dollars (1840-1873)
Mint: Philadelphia
Obverse Designer: Christian Gobrecht
Reverse Designer: Christian Gobrecht
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $21.62 (2/25/2021)
Diameter: 38.1mm
Edge: Reeded
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1846 $1 PF obverse 1846 $1 PF reverse
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Description & Analysis

Political scientists assert that, among the numerous reasons that prompt states to go to war, few are as tempting as the diversionary theory. This thesis asserts that states will start international wars in an effort draw public attention away from domestic problems. While the Falkland Islands War of 1982 is the archetypal example, some students of military history may be inclined to include the Mexican War of 1846-1848 in their analyses of the diversionary theory. At quick glance, President James Knox Polk's decision to provoke a war in 1846 may be seen as a response to the myriad political problems that plagued the United States throughout the early 1840s. The president's overriding desire for more land certainly provided a sop to Southerners whose hostility to the growing abolitionist movement threatened to paralyze the federal government. Rather than strengthen the ties of Union, however, the war effort only served to estrange Northerners from the Polk White House. In his Biglow Papers, the Massachusetts poet James Russell Lowell printed the following poem that amply explained New England's hostility to 'Mr. Polk's War:' They just want this Californy So's to lug new slave-states in To abuse ye, an' to scorn ye, An' to plunder ye like sin. Although New England's threat to separate from the Union in protest to the war proved shallow, the struggle for influence over the newly acquired territories further estranged Northerners and Southerners and took the nation one long step closer to war. As a unifying element, therefore, the Mexican War was an unparalleled disaster. The cheap victories that the United States Army won over Mexico's ill-led forces, however, had a positive effect on the nation's economic development and, as a result, its standard medium of exchange: the silver dollar.

The South's bumper cotton crop that overloaded the world market in 1839 ruined countless American banks and plunged the entire country into economic stagnation. This situation remained unchanged until U. S. troops under the command of General Zachary Taylor exchanged shots with Santa Anna's forces just north of the Rio Grande River on April 25, 1846. Following Congress' declaration of war on May 13, the nation's economy continued to improve through 1848's Peace Treaty of Guadalupe Hidalgo. While the Philadelphia Mint's delivery of 110,600 business strike silver dollars in 1846 was rather high by the standards of the 1840s, few Mint State survivors are available in today's numismatic marketplace. Readily available through the About Uncirculated grade levels, it is obvious that this issue saw heavy circulation in America's reinvigorated commercial channels. The Philadelphia Mint's production of proof Seated dollars in 1846 reached the previously unimagined total of between 40 and 60 pieces. In his book Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia, Q. David Bowers asserts that the federal government may have intended to use many of these specimens as gifts for diplomats and/or military officers in connection with the ongoing war. Since this explanation is difficult to substantiate, we offer the explanation that the Mint Director may have foreseen increased proof sales in response to people's improved economic standing.

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


GRADE SUMMARY

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Price Guide

Last Updated: 6/24/2019

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

1846 $1 PF
  GVGFVFXF505355586061626364656667686970
Base $ - - - - - - - 5350 - - 12250 14000 27500 34000 - - - - - -
$ - - - - - - - - - 52500 - - - -
1846 $1 PF CA
  GVGFVFXF505355586061626364656667686970
Base $ - - - - - - - - - - - - - 55000 - - - - - -

NGC Price and Value Guides Disclaimer

Disclaimer: The prices listed in the various NGC Price and Value Guides are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. Prices provided are averages, not specific prices for individual coins. Further, because these prices are only updated from time to time, they do not reflect short term pricing trends, which are quite common and are often quite dramatic, given the volatile nature of the collectible coin marketplace. This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and — when appropriate — expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Guides. By using the NGC Guides, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the Guides.

Census

 
NGC GRADE SUMMARY

Total Graded: 14
Low Grade: 55
Average Grade: 63
High Grade: 64

The chart showing 55 series, 58 series, 60 series, 61 series, 62 series, 63 series, 64 series.
NGC CENSUS DETAIL Last Updated: 2/23/2021 1846 $1 PF
 PrAgGVGFVF4045505355586061626364656667686970Total
Base---------1--1129------14
-----------------------
-----------------------
-----------------------
Total---------1--1129------14
 ---------7%--7%7%14%64%------ 

NGC Registry

NGC Registry Score 1846 $1 PF CA
 PrAgGVGFVF4045505355586061626364656667686970
Base333333332740349643194756558266447276849411009119061277564481117660134561
33333339152992377044645031593668547682933211308121953001082207123293141289
0000003915299237704464503159366854768293321130812195300108220700
000000318273244404446105306629070658088101701160712485472459993300
1846 $1 PF
 PrAgGVGFVF4045505355586061626364656667686970
Base333333332614334541414565536764007014820010653115291237862359113803134561
33333338732857361042824832571166047409901710945118122903879507120722141289
0000003873285736104282483257116604740990171094511812290387950700
00000031743310138754423509960556809780498351123712095456989665500
Registry Image Gallery
Grade: PF 64
Points: 8200
Owner: mr cool
 
Grade: PF 64
Points: 8200
Owner: NW Collections
 
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Related Articles

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NGC Auction Central Disclaimer

Disclaimer: The auction prices realized listed in the NGC Auction Central are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. The auction data listed by NGC may occasionally contain typographical or input errors that can result in incorrect prices realized appearing on the NGC website. Therefore, the prices realized listed in NGC Auction Central are designed to serve merely as one of many measures and facts that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and – when appropriate – expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Auction Central. By using the NGC Auction Central, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the NGC Auction Central.