Description and Analysis

Seated Liberty Dollars
1863 $1 PF

Description & Analysis

Sales of proof coins declined in 1863, and this may have reflected the challenge of purchasing these coins during the Civil War. The federal paper money introduced in 1861 very shortly began to depreciate as compared to its gold and silver coin equivalents, and hard money quickly disappeared from circulation in most of the nation. This prices for proof coins were thus for payment in gold or silver, while those tendering paper money had to pay a premium that grew steadily to a peak in the summer of 1864.

Gems of this date are scarce but available to the more determined collectors. Cameo pieces have been certified in far lower numbers, while Ultra Cameo proofs are all but unknown.

A recurring pattern of recent years was the use of a single obverse die paired with two different reverses, and this was repeated for 1863. Also a repeat was the use of entirely separate dies for currency strikes, while the proofs of the 1850s had experienced some mingling of the two issues. Both proof reverse dies for 1863 silver dollars would continue in use into the following year.