Owner Comments:
1866 Liberty Seated Silver Dollar with Motto
This 1866 Liberty Seated Silver Dollar with Motto PCGS XF45 in an old Green Holder is a stunning example that has excellent eye appeal, a pleasant patina and a strong strike of a challenging and rare coin to obtain. I believe this coin is a CAC sticker worthy specimen.
Survival Rate:
Per Bowers the 1866 with Motto has a mintage of 48,900 with an estimated survival rate of less than 2%, which gives estimates ranging from 340 to 900. On the other hand Osburn & Cushing places the survival rate at around 1,000. When looking at the census reports of NGC, PCGS and ANACS places the combined number of Straight and Details graded coins at 707 coins. One can guess that a number of these coins have been re-graded and/or crossed over, so there is some flexibility in the number. When we take in account for ungraded coins, the Osburn & Cushing survival rate of 1,000 seems reasonable.
Coinage Context:
Per Q. David Bowers in his book “A Complete Encyclopedia SILVER DOLLARS & TRADE DOLLARS of the United States”.
This is the first year of regular silver and gold coinage with the motto IN GOD WE TRUST, appearing on nickel five-cent pieces, quarter dollars, half dollars, silver dollars, half eagles, eagles, and double eagles, preceded by the bronze two-cent piece in 1864.
Distribution:
It is probable that many dollars of this date were exported. It is possible that some domestic holders of dollars kept them stateside, and that they found their way back to the Treasury after 1873 (at which time the melt-down value and bullion value achieved equity).
Numismatic Information:
Circulated grades:
The 1866 is rare in all circulation strike forms. None was circulated domestically at the time of issue (nor were any other Liberty Seated dollars of this era). Popular with numismatists as the first year with motto on the reverse.