The 1863 Liberty Seated Dollar is a significant piece of American numismatic history, produced during one of the most tumultuous periods in the United States—the Civil War. Despite efforts by the U.S. Mint to keep coins in circulation during the conflict, hoarding of gold and silver coins was widespread in both the Northern and Southern states.
The U.S. Treasury operated five mint facilities in 1861: the main Philadelphia Mint, three branch mints in the South, and a Western branch in California. With the outbreak of the war, the three Southern mints ceased operations by the end of 1861, with only the New Orleans Mint resuming coin production after the war.
As the Civil War progressed, the Union faced financial strain, leading to the suspension of specie payments by New York banks in December 1861. By early 1862, this suspension spread nationwide, prompting the issuance of fractional currency and Greenbacks. Nevertheless, coinage continued at the Philadelphia and San Francisco mints, primarily for private depositors.
Historical Context and Coin Production Of The 1863 Liberty Seated Dollar
The year 1863 was pivotal in the Civil War, marked by President Abraham Lincoln’s Emancipation Proclamation, which took effect on January 1. This proclamation freed slaves in rebelling states, authorized the enlistment of black troops, and reframed the war as a fight to end slavery, shifting European sentiment against the Confederacy.
Amidst these historical events, the production of the 1863 Liberty Seated Dollar occurred at the Philadelphia Mint. The mint produced 27,200 business strikes and 460 Proofs using a single die marriage, as identified by numismatists Dick Osburn and Brian Cushing. Most of these coins were struck for private depositors and exported to South America and Asia, where they largely remained.
Survival and Rarity
As of August 2024, CAC, NGC, and PCGS report a combined total of 303 grading events for the 1863 Liberty Seated Dollar. Numismatic expert Q. David Bowers estimates that fewer than 500 examples survive today.
In 2014, Heritage Auctions reported 56 coins in Mint State grades in the PCGS census, with only a slight increase in the decade since. NGC records 47 Mint State grading events, and CAC has certified only nine coins, indicating the rarity of high-grade examples.
Design Details of The 1863 Liberty Seated Dollar
Obverse:
The obverse of the 1863 Liberty Seated Dollar features a depiction of Liberty seated on a rock, clad in classical flowing robes. Her left arm is bent, holding a Liberty pole with a cap, while her right arm extends downward, balancing a shield inscribed with the word “LIBERTY.” Thirteen six-pointed stars encircle the figure, with the date “1863” centered at the bottom.
Reverse:
The reverse showcases a majestic eagle with partially spread wings, clutching an olive branch in its right claw and three arrows in its left. The legend “UNITED STATES OF AMERICA” encircles the top, with the denomination “ONE DOL.” at the bottom.
Edge:
The edge of the 1863 Liberty Seated Dollar is reeded, consistent with other U.S. coins of the era.
Coin Specifications
| Specification | Details |
|---|---|
| Country | United States of America |
| Year of Issue | 1863 |
| Denomination | One Dollar (USD) |
| Mintmark | None (Philadelphia) |
| Mintage | 27,200 |
| Alloy | .900 Silver, .100 Copper |
| Weight | 26.73 g |
| Diameter | 38.10 mm |
| Edge | Reeded |
| Obverse Designer | Christian Gobrecht, with influences from sketches by Titian Peale and Thomas Sully |
| Reverse Designer | Christian Gobrecht |
| Quality | Business Strike |
Conclusion
The 1863 Liberty Seated Dollar is a remarkable coin from a pivotal moment in American history. Its production during the Civil War, combined with its historical significance and rarity, makes it a prized piece for collectors. Despite the challenges of its time, the coin’s enduring design and limited surviving examples ensure its continued value in the numismatic community.
FAQ
Why is the 1863 Liberty Seated Dollar significant?
The coin was produced during the Civil War and represents a period of immense historical and economic importance in the United States.
How many 1863 Liberty Seated Dollars were minted?
A total of 27,200 business strikes and 460 Proofs were minted at the Philadelphia Mint.
What makes the 1863 Liberty Seated Dollar rare?
Fewer than 500 examples are believed to survive today, making high-grade coins particularly rare and valuable.
Who designed the 1863 Liberty Seated Dollar?
The coin was designed by Christian Gobrecht, with the obverse design influenced by sketches from Titian Peale and Thomas Sully.
What is the current market value of the 1863 Liberty Seated Dollar?
The value depends on the coin’s condition, with Mint State examples being particularly valuable due to their rarity.
Reference
Information compiled from numismatic sources and historical records.
