Description and Analysis

Seated Liberty Dollars
1862 $1 PF

Description & Analysis

As in 1861, a single obverse die was paired with two reverse dies for the proof silver dollars of 1862. There is a notable difference in rarity between these two die marriages, but this is of little consequence when collectors seek only a single example of the date. Enough gems have been certified to satisfy the demand from advanced collectors, though most survivors fall well short of this level. Cameo pieces are scarce but collectable, while Ultra Cameo proofs are extreme rarities.

The experience of having to melt more than 1,000 unsold proofs of various dates early in 1862 drove the U. S. Mint to become more realistic in the number of pieces coined this year. The net proof mintage of 550 proof dollars for 1862 is likely a reflection of how many were sold annually in the years immediately preceding.