Natural Toning
1850


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: SILVER DOLLARS - SEATED LIBERTY, NO MOTTO
Item Description: $1 1850
Grade: PCGS AU 58
Owner: Hagop
 
Winning Set: Natural Toning
Date Added: 4/4/2021
Research: See NGC's Census Report for this Coin

Owner's Description

The gorgeous natural blue-green obverse and deep turquoise reverse is illuminated by the proof-like surfaces producing extraordinary eye appeal. The striking weakness on Liberty's hair and star 7 is easily overlooked on this incredible example of a beautiful and naturally toned seated dollar. An early purchase from Art Weisel a NJ collector.

The 1850 is the first of the truly low mintage circulation strike issues in the Liberty Seated dollar series with only 7,500 pieces produced. This is the lowest yearly output from either the Philadelphia or New Orleans mints since the introduction of the Liberty Seated design in 1840. Most examples are well struck and circulation strikes almost always display slightly to fully proof-like finish.

The onset of the California Gold Rush in 1849 led to the yellow precious metal becoming common on the world market in comparison to silver. This forced a rise in silver prices to the point where such coins were eventually withdrawn from circulation and hoarded domestically or, more commonly, exported to Europe and subsequently melted. Liberty Seated dollars, being large storehouses of silver that were already held by bullion brokers in most instances, were among those coins that suffered the most immediate and extensive effects of this melting. Hoarding and increased exportation also meant that little bullion remained on hand that depositors would potentially want to have coined into new dollars. This situation would become even more severe in 1851 and 1852, when circulation strike dollar coinage shrank to infinitesimal levels. Survivors of the 1850 issue are scarce in today's market despite my suspicion that they were hoarded. Very few any are seen in grades lower than EF. These facts confirm that many 1850 dollars were exported and melted.

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