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1859-S $1 Liberty Seated Dollar - Osburn-Cushing 1

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 Posted 09/28/2021  2:03 pm Show Profile   Bookmark this topic Add numismatic student to your friends list Get a Link to this Message
This silver dollar is the first produced by the U.S. Mint in San Francisco. It has a mintage of 20,000 coins in contrast to the 255,700 silver dollars minted in Philadelphia and 360,000 minted in New Orleans that year. The production of this coin was for the Far East trade prior to the introduction of the Trade dollar in 1873. This coin came about to reduce the risk and cost of shipping silver dollars from Philadelphia or New Orleans to San Francisco for ships sailing with silver to purchase goods in China.

The coin ended up having limited uptake because Chinese merchants preferred the Mexican dollar which contained more silver. U.S. coins had reduced their silver content in 1853. The commercial unpopularity of the U.S. dollar in overseas trade was the main reason for the introduction of the Trade dollar.

1859 was also interesting because it was the year of the discovery of the Comstock Lode. Until this discovery, domestically mined silver remained scarce in the United States. In 1859 two prospectors, Patrick McLaughlin and Peter O'Reilly, discovered a deposit of silver ore on Mt. Davidson, in Washoe, Nevada, on property claimed by Henry Tompkins Paige Comstock, age 39. Comstock sold his interest in the mine, but his name remained on the Comstock Lode. This silver did not make it into the 1859-S dollars but figured later into the large numbers of Seated, Trade and Morgan dollars minted starting in the early 1870s. The Comstock Lode is estimated to have been worth $397 million in recent dollars.

Wonder why the reverse looks so blue compared to the obverse. Thoughts? Thanks!


Edited by numismatic student
09/28/2021 2:41 pm
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 Posted 09/28/2021  3:59 pm  Show Profile   Bookmark this reply Add hokiefan_82 to your friends list Get a Link to this Reply
Nice Seated dollar. I won't estimate a grade, but my guess on the toning is the coin was stored for a period of time with the reverse in contact with paper or cloth which contained sulfur...
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 Posted 09/28/2021  5:48 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
I'll say AU details (cleaned) as well.
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 Posted 09/28/2021  5:59 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
What are you seeing that makes you believe that this coin is cleaned? Always trying to learn from you experts. Thanks!
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 Posted 09/28/2021  6:35 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
There is no evidence of the kind of luster you'd expect to find on an example with this little wear, at least in these pics.
Edited by Coinfrog
09/28/2021 6:36 pm
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 Posted 09/28/2021  6:38 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
That makes sense. Will have to examine closely when it gets here.
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 Posted 09/28/2021  6:46 pm  Show Profile   Bookmark this reply Add Heymikep to your friends list Get a Link to this Reply
Did you but this from the Osburn-Cushing website? If so have they even responded? Have they shipped the coin to you? I purchased a coin from them about 2 weeks ago and sent them a check, they have yet to responded to any v-mail, email or text and have not cashed the check either! I wonder if something might have happened to them?
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 Posted 09/28/2021  6:59 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Ditto what Frog says. Surfaces look dull a muted. No original skin left on this one (at least in these pics). There is no variation in the surfaces in the way they reflect the light. You'd expect some original luster in the protected areas around the devices at this grade.
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 Posted 09/28/2021  7:02 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
@Heymikep - No, but from what I can tell, everyone is busy gearing up for Long Beach. Not sure you have much to worry about with Brian. Having said that 2 weeks is a long time and seems very unprofessional. Maybe they are having trouble getting customer service staff. Hope it's not something more serious. Sorry that I can't be more help, but maybe someone else can shed more light.
Edited by numismatic student
09/28/2021 7:05 pm
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 Posted 09/28/2021  7:09 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Thanks Ty. After looking at countless *** Edited by Staff | The bad word filter is in place for a reason. Bypassing the filter and making the intended word obvious anyway is completely unacceptable. *** Seated dollars, I wouldn't be surprised to see AU straight-graded LSDs with no luster. Personally, it looked like a really nice XF45 to me due to the lack of luster.
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 Posted 09/28/2021  7:30 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
On balance, the reverse toning is a gray-blue, closer to "gull gray" than a true blue. Some older varnishes and shellacs can react with silver to do this. Just a possibility, combined with a hunch, but this may have been in a wood case or cabinet for some time.

Either that, or you may have Orcs very, very near you.
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 Posted 09/28/2021  7:38 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Was also thinking that maybe someone spilled some gun blueing rub on a table and some got on one side of the coin. No idea if that can really happen or not, but its similar to your theory of exposure to varnish and shellac.
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 Posted 09/28/2021  8:54 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
Curious what in hand pics will bring, could very well be the images.

I also wouldn't doubt PCGS straight grading it, given the rarity (they like being lenient at times). I too have seen many LSD's with this look straight grade. I'm just calling it as I see it (I'm usually wrong HA!) That said, still has great eye appeal. I especially like the obverse toning.
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 Posted 09/29/2021  12:59 pm  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
XF45. I'm betting its straight

thanks for the history lessons on your posts. love learning about this
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 Posted 10/01/2021  2:00 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
This one came in not looking blue at all. Further thoughts? Thanks!


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