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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.
The 1848 is an immensely popular date due to the limited original mintage of 15,000 business strikes. Nevertheless, one should not call this date rare in an absolute sense, as enough circulated coins are extant to satisfy demand from most collectors. Advanced specialists, however, should recognize that a Mint State 1848 Seated Dollar is a significant condition rarity.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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