About the Coin
In 1840, the silver dollar officially returned after having not been produced for circulation since 1803 (click here for a short discussion about the Gobrecht dollars and wether or not they are a pattern coin).
Production of the Seated Liberty dollar ceased in 1873 when the silver dollar was left out of the Coinage Act of 1873. (See Crime of '73.) In 1878, silver dollar production continued with the Morgan dollar design.
In 1866, religious sentiment that had been growing during the Civil War led to the motto "In God We Trust" being added to the reverse of the coin.
The Seated Liberty dollar type is one of the few 19th century silver coin types whose price difference between those coins graded MS-64 and those graded MS-65 is very large. In 2008, the price differential for the 1866 with motto was anywhere from $40,000 to $50,000. By 2009, the differential had grown to $70,000 to $80,000. For this reason, the MS-64 PCGS and NGC census totals are surely inflated by resubmissions. It is believed that only a handful of MS-64 coins actually exist.
The 1866 Seated Liberty dollar in The Arlington Collection is a very high end MS-64 (CAC certified) and may be one of the coins resubmitted and inflating the census totals. The previous owner admitted cracking the coin out and resubmitting it at least twice. There is a very slight mark near the ninth star (about 1 o'clock) on the obverse that is probably the reason the coin does not grade MS-65. The reverse is basically flawless.
This 1866 example in The Arlington Collection has beautiful blues, greens and reds below an overtone of medium gray. I like the nice original surfaces that also still have some proof-like luster remaining. All-in-all, a beautiful type coin.
Designer: Christian Gobrecht
Weight: 26.73 grams
Diameter: approx. 38.1mm, reeded edge
Composition: 90% silver, 10% copper
PCGS Price Guide:
Seated Liberty Dollar (1840-1873)