1857 Liberty Seated Silver Dollar. OC-P1. Rarity-5. Proof-63 Cameo (PCGS). A superior example of this scarce Proof issue with strong contrast between the frosty devices and reflective fields. Traces of peach patina hug the protected areas and accent the overall untoned complexion. Sharp and free from significant imperfections.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. By that time, the popularity of numismatics in the United States was increasing to the point where the Mint was starting to increase its offerings of yearly Proof coinage to collectors, many of which at the time resided in the Northeastern states. The mintage for Proof 1857 dollars was not officially recorded, but based on the estimated 50 known survivors it appears that around 75 examples were struck in total, as per Dick Osburn and Brian Cushing (2018). Most of these were distributed as part of the years silver Proof sets, but others were likely sold individually, such was the popularity of the large-size silver dollar. The Proof 1856 issue employed the same obverse die used for one of the two known Business Strike varieties of the year, paired with the reverse die used for the Proof issue of 1856. This reverse die would also go on to strike Original Proofs in 1858 and Restrike Proofs dated 1851 and 1852. The present example is a desirable representative of these dies and just 3 coins have been certified finer by PCGS.
