Seated Liberty Dollars, Why Are They So Expensive?

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.

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.

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.

I need two for my Dansco 7070. Those are the last two holes in it. Yes, I certainly wish they were not so expensive.

Agreed I need 2 for my type set too. Also a reeded edge half dollar 1836-1839.

Generally, circulation strikes are more expensive than proofs. Some less expensive circulation dates are the 1859-O and 1860-O.