Description and Analysis
Seated Liberty Dollars
1864 $1 PF
Description & Analysis
With silver coins not circulating except in the far western states and territories, the mintage of silver dollars in 1864 was low for both proofs and currency strikes. It's thus all the more remarkable that no fewer than four die marriages are known for the modest proof issue. Three obverse dies were paired with the two reverse dies used previously for the 1863 proof silver dollars.
Gems are available in limited numbers, as are Cameo proofs. The certified population data is likely a bit high for both due to resubmissions over the years.
Persons purchasing proof coins in 1864 had to pay twice the established price when tendering federal paper currency, these notes falling to half the value of their hard money equivalents this year. The Union Army's war was at its most discouraging stage that summer, but the capture of Atlanta in September and Sherman's sweep of Georgia over the next few months finally reversed both the army's setbacks and the USA dollar's decline.