1857 Liberty Seated Silver Dollar. Proof-64 (NGC).This is a lovely Choice representative of a scarce and elusive early Proof issue in the No Motto Liberty Seated dollar series. Virtually brilliant centers give way to soft sandy-gold iridescence toward the borders. Even Proofs of this date are not always fully struck, yet this exceptional piece reveals complete definition from the rims to the centers. Overall smooth, it is sure to please even the most discerning specialist.1857 was an eventful year in American financial history when the rapid over expansion of the economy combined with the loss of the <em>S.S. Central America</em> precipitated what is widely considered one of the first worldwide financial crises, the Panic of 1857. Silver dollars saw very little domestic use by this time and Proof silver dollars were produced in seemingly small numbers. The mintages of early Proof Liberty Seated dollars are not known and in many cases are purely conjecture. Such is the case with the Proof 1857, of which most estimates place the mintage anywhere between 50 and 100 pieces using at least two die pairs as identified by Walter Breen. Of these, no more than half of the mintage survives, and examples seldom appear at auction. When specimens do cross the block, they are especially sought after and have a tendency to be held tightly for years. This, indeed, is a numismatic treasure that will excite any specialist in early Proof silver coinage.From the Magnolia Collection. Earlier from our Baltimore Auction of November 2015, lot 20080.
