1870 Liberty Seated Silver Dollar. Proof-66 (NGC). Toned in rich jewel shades of blue, rose and purple on the obverse, similar on the reverse with a dash of orange thrown in with a patch of silver-white at the center. The surfaces are a delight to examine, free of all but minute signs of handling or hairlines. Even the wire rim is intact on the obverse and reverse, testifying to the intensity of the striking pressure and careful preservation since that time. Several meandering lintmarks are present when closely examined, notably one crosses through the top of 0 in the date. A visually stunning Gem Proof. <p>In 1870, the price of silver had risen enough that a typical Seated Liberty silver dollar was worth just above its face value, forcing the circulation strike coins into the export trade as well as into the hands of local bullion dealers for melting. This situation would not last for long, the steady influx of bullion from the mighty Comstock Lode would soon begin to saturate the market with the metal, leading to the eventual demonetization of silver in 1873 through what soon became known as the "Crime of 73." Even so, the Philadelphia Mint recorded that 1,000 Proof silver dollars were struck in 1870, the highest quantity since 1861. Even so, this issue is among the scarcer Liberty Seated with Motto dates, and it is likely that a portion of the mintage remained unsold and was melted or placed into circulation. The delicate surfaces of the present Gem are exceptionally smooth, and it is one of the finest Proof 1870 silver dollars available to todays collectors. Ex our sale of November 2011, lot 2672.
