Coin Specifications

Category: Seated Liberty Dollars (1840-1873)
Mint: Philadelphia
Mintage: 11,540
Obverse Designer: Christian Gobrecht
Reverse Designer: Christian Gobrecht
Composition: Silver
Fineness: 0.9000
Weight: 26.7300g
ASW: 0.7734oz
Melt Value: $14.11 (2/18/2020)
Diameter: 38.1mm
Edge: Reeded
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1862 $1 MS obverse 1862 $1 MS reverse
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Description & Analysis

Beginning collectors and specialists alike will find it interesting to note that the 1862 is more easily obtainable in circulated grades than the 1861, this despite the fact that the former issue was produced to the extent of just 11,540 coins. As in 1861, the federal government apparently held a limited number of Silver Dollars stateside in 1862. This is not to suggest that the 1862 Seated Dollar entered domestic circulation at the time of issue. On the contrary, the Silver Dollar was worth $1.04 in gold by 1862, and any coins located by bullion dealers would undoubtedly have been melted. Furthermore, northern banks suspended gold specie payments in December 1861, and by mid-1862 Confederate victories and the uncertain outcome of the war had driven all silver coins from circulation. It is likely, therefore, that many 1862 Silver Dollars were exported, virtually all of which were melted. Other coins were probably released into domestic circulation in the late 1870s, when Silver Dollars were once again worth more as circulating currency than as bullion.

Although scarce, the 1862 is not rare in circulated grades, and collectors can usually obtain a decent representative with a little bit of patience. In Mint State, the 1862 is rare, especially in grades at or above the MS64 level of preservation.

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: 2/7/2020

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1862 $1 MS
  GVGFVFXF505355586061626364656667686970
Base $ 800 975 1500 2750 3900 4125 4750 5000 5400 6700 6900 7250 8750 11850 68000 - - - - -
$ - - - - - - - 7875 10500 40000 - - - -

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Census

 
NGC GRADE SUMMARY

Total Graded: 88
Low Grade: G
Average Grade: 58
High Grade: 65

The chart showing G series, VG series, F series, VF series, 40 series, 45 series, 50 series, 53 series, 55 series, 58 series, 60 series, 61 series, 62 series, 63 series, 64 series, 65 series.
NGC CENSUS DETAIL Last Updated: 2/18/2020 1862 $1 MS
 PrAgGVGFVF4045505355586061626364656667686970Total
Base-2117-55329281112191-----88
-------------1121-----5
--------------1-------1
-----------------------
Total-2117-55329281214212-----94
 -2%1%1%7%-5%5%3%2%10%2%9%13%15%22%2%----- 

NGC Registry

NGC Registry Score 1862 $1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base1201123914211658204827272860308031493281344738173902434753166007109191145412007125801353716854
121413001500178822742771293331033193333635703845405046705546764411097116381219812899146430
00000029333103319333363570384540504670554676441109711638121981289900
00000030073126323733923694387441994993577792821127611823123891321800
Registry Image Gallery
Grade: MS 63
Points: 5316
Owner: Tweed Collection
 
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