USA 1 dollar Seated Liberty 1853
USA, Philadelphia
Rarity
Rare
Attributes of Coins
| Region | USA |
|---|---|
| Denomination | 1 dollar |
| Krause number | KM# 71 |
| Mintage | 46,110 |
| Metal | Silver 0.900 |
| thickness | 2.8 mm |
| diameter | 38.1 mm |
| weight | 26.73 g |
Obverse:
Liberty
Star
Creators:
Christian Gobrecht
LIBERTY
Reverse:
Coat of arms
Creators:
Christian Gobrecht
ONE DOL.
UNITED STATES OF AMERICA
Introduction of Coins
In 1853 Congress passed an act lowering the weight of all fractional silver coins from half dime through half dollar, leaving the silver dollar at its 1837 weight as the poster child for an unsustainable bimetallic standard between gold and silver. This action permitted the smaller coins to circulate freely for the first time since 1849, but it also condemned the standard silver dollar to obscurity for the next 20 years. The mintage of silver dollars rose during 1853 for reasons that are not quite clear. The new fractional silver coins of reduced weight were to be paid out solely in exchange for deposits of gold, thus keeping them from becoming a redundant nuisance, though this safeguard was freely violated after a few years. The role of the silver dollar was left uncertain, and it's believed that most were purchased by depositors above their face value for use in the lucrative Far East trade, where silver ruled the day. In any case, few were seen in domestic commerce. The 1853 silver dollars tend to be poorly struck in many details, and their fields typically are frosty as a reflection of their higher mintage than in the preceding few years. A single pair of dies was used for the entire mintage, with Osburn and Cushing estimating that about 1000 examples survive. Though coins grading as low of Very Fine may be found, few pieces are seen below that grade. A few gems are known, but most Mint State examples fail to achieve the MS 65 grade. The number of certified MS 64 coins is probably overstated as a consequence of resubmissions in search of the higher grade.Read More
