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.
Seated Liberty dollars of 1860 were apparently intended mainly for use in the export trade to China, where many were melted. In his Silver Dollars and Trade Dollars of the United States, David Bowers writes:
'They never were available from the Mint at face value, and all were paid out at $1.08 each to bullion dealers, banks, and others who fed them into the Orient trade. A small percentage of the mintage (217,600 business strikes) circulated domestically after the resumption of specie payments in autumn 1876.'
Bowers also indicates that there was little interest in business strike Seated dollars during this time period. Collectors desiring date sequences of dollars were satisfied with Philadelphia Mint proofs.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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