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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 mintage of Seated silver dollars increased considerably in 1868 from the scant mintages of 1861-1867 that numbered only in the tens of thousands, to more than 162,000 pieces. This issue is nonetheless quite challenging in Choice Mint State, and rare in Gem condition. In fact, even circulated dollars of this issue are 'quite scarce,' according to the Bowers-Borckardt silver dollar Encyclopedia (1993), 'but because of the high mintage figure they are nearly universally overlooked by the numismatic fraternity.'
Concerning Mint State specimens, Bowers-Borckardt comments, 'The year 1868 does not come to mind immediately when one thinks of rare coins in the Liberty Seated series, but a perusal of the data, including certification service population reports, indicates that it is indeed very rare, even if it is unappreciated and overlooked. Dealer specialist Chris Napolitano stated that an MS-61 coin was the finest business strike he could locate in six years of searching.'
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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