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Seated Liberty Dollars, Why Are They So Expensive?

 
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 Posted 01/30/2017  1:44 pm Show Profile   Bookmark this topic Add Jolteon1698 to your friends list Get a Link to this Message
Hey,

I've been looking at Seated Liberty dollars and non-detachable ones are all quite expensive (compared to other coins). Why is that? Lower survival? Less mintages?

Thanks for your thoughts!
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 Posted 01/30/2017  2:02 pm  Show Profile   Bookmark this reply Add hcmusicguy to your friends list Get a Link to this Reply
Less mintages. Especially when compared against the omnipresent Morgan dollars.
Oldest circulation finds: Cent 1902; 3CN 1867; Nickel (Buffalo/no date); Dime 1914; Quarter 1876; Half 1936; Dollar 1900; Banknote 1928 $2; Foreign 1917 3d (Great Britain)
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 Posted 01/30/2017  2:12 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
You are correct low mintage and survival rate. To collect the series is very expensive, so there are not a lot series collectors, but the prices still remain strong because of the rairety. I had considered to collect the series, but I passed because of the high cost. Most collectors buy the coins for their type set.
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 Posted 01/30/2017  2:19 pm  Show Profile   Check Andrew99's eBay Listings Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
What is a non-detachable Seated dollar? I've often found they are way more expensive than I would expect given mintages, especially compared to Bust Dollars. The difference, I think, is that the design is very popular. There is an Liberty Seated Collector Club which probably dwarfs the John Reich Society for shear membership numbers.
The collection is in your mind. Dispose of your albums and free your mind from the tyranny of holes.
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 Posted 01/30/2017  2:28 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
As with most coins the price is usually influenced by popularity versus the number available.

Most of the need for SLD comes from type collecting.

Plus, they actually circulated, unlike the majority of Morgan's, for example.
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 Posted 01/30/2017  2:50 pm  Show Profile   Bookmark this reply Add Jolteon1698 to your friends list Get a Link to this Reply
Lol not detachable I meant non-details
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 Posted 01/30/2017  3:09 pm  Show Profile   Bookmark this reply Add billjones to your friends list Get a Link to this Reply

Quote:
Plus, they actually circulated, unlike the majority of Morgan's, for example.


The Seated dollars did circulate, but they didn't circulate a lot. One reason was the problem with all silver dollars; people found them to be heavy and inconvenient to carry. Most Seated dollars grade VF or better, but Mint State examples, other than the 1859-O and 1860-O which came from a government hoard, are scarce.

Another more important reason was their metal content. In 1853 the Congress lowered the weight of every silver coin, from the half dime to the half dollar, but NOT the silver dollar and placed arrows beside the date. Apparently there was a misguided notion that maintaining the weight of the silver dollar would help to preserve the integrity of the U.S. dollar overall. All that did was provide one more reason to drive the silver dollar out of circulation.

I have no doubt that a fair number of Seated dollars were melted during this period because their melt value exceeded their face value. This is one more reason why the Seated dollars have a number of very scarce dates.
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 Posted 01/30/2017  3:33 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Because of belt buckles


"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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 Posted 01/30/2017  3:37 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I need two for my Dansco 7070. Those are the last two holes in it. Yes, I certainly wish they were not so expensive.
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 Posted 01/30/2017  5:08 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Remember also that many Seated dollars no doubt went into the furnace along with their Morgan counterparts after passage of the Pittman Act in 1918. Of particular interest, several original bags of uncirculated 1859-O, 1860 and 1860-O dollars turned up during the Treasury release in 1964, which accounts for their (comparatively) low Unc prices today. Imagine the expressions on the faces of the random buyers who received them.
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 Posted 01/30/2017  5:14 pm  Show Profile   Bookmark this reply Add Imthealphaomega to your friends list Get a Link to this Reply
Agreed I need 2 for my type set too. Also a reeded edge half dollar 1836-1839.
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 Posted 01/30/2017  10:23 pm  Show Profile   Bookmark this reply Add TypeCoin971793 to your friends list Get a Link to this Reply
Because they are scarce and are needed to finish a type set. Demand drives up the price.
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 Posted 01/31/2017  01:40 am  Show Profile   Bookmark this reply Add Fathead 5 to your friends list Get a Link to this Reply
Generally, circulation strikes are more expensive than proofs. Some less expensive circulation dates are the 1859-O and 1860-O.
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 Posted 01/31/2017  02:10 am  Show Profile   Bookmark this reply Add johntookit to your friends list Get a Link to this Reply
Only 6.5 million liberty Seated dollars were minted among 47 separate issues as noted by weimar w. White author. Liberty Seated dollars were not generally saved by the government and worn out and mutilated pieces were melted yearly as were other silver and gold denominations. Author estimate that less than 30,000 presently exist in all conditions.
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 Posted 01/31/2017  10:10 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Author estimate that less than 30,000 presently exist in all conditions.
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 Posted 01/31/2017  10:12 am  Show Profile   Bookmark this reply Add Dlangs56 to your friends list Get a Link to this Reply
Neat fact, surprising to a newbie.
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