1854 Liberty Seated Silver Dollar. OC-1. Rarity-3+. MS-64+ (PCGS).A sharply struck and visually engaging rarity from the challenging No Motto Liberty Seated dollar series. The strike is remarkably full with even the more intricate design elements crisp. The toning bespeaks to the undeniable originality of the coin with visually engaging sandy-gold patina and speckled russet around the devices. Uniform satin luster is noted for both sides, the texture of which is smooth enough to evoke thoughts of a Gem rating.<p>A pivotal issue in the Liberty Seated series, the 1854 is likely the first date of this type that served primarily in the export trade. The 33,140 circulation strikes produced were made primarily from bullion obtained from Mexico. Since the Act of February 21, 1853 did not reduce the weight of the silver dollar, the bullion value of these coins continued to exceed their face value. (The Act solved this problem for the smaller denomination silver coins by reducing their weight and making them subsidiary in reaction to rising silver prices brought about by the California Gold Rush.) Obtained at a premium from brokers on the West Coast, the vast majority of 1854 silver dollars were shipped to China by merchants in exchange for goods such as tea and silk. These exported coins were almost all subsequently melted, thereby explaining the elusiveness of survivors in numismatic circles, and in all grades. Mint State examples are particularly rare and usually appear at auction only once in a very long while. PCGS has certified just 27 examples across all Mint State grades, the bulk of those at MS-63 or below. Clearly we anticipate strong competition for this piece among astute collectors specializing in both Liberty Seated coinage and silver dollars.From The Des Moines Collection.
