1864 Liberty Seated Silver Dollar. OC-1. Rarity-2. Repunched Date. AU Details--Altered Surfaces (PCGS).The circulation strike 1864 has a mintage of 30,700 pieces with survivors scarce to rare in all grades. The limited mintage can be explained by the fact that, although production at the Comstock was increasing (it amounted to nearly $9 million in 1863), bullion dealers still had to rely on imports or foreign coins in domestic circulation (primarily Mexican dollars ) to obtain most of their silver. Without an abundance of domestically mined silver, there was little need for bullion depositors to turn to the Mint to coin excess silver into dollars to use in the export trade. Of course, those dollars that were struck in 1864, as in other years in the Liberty Seated series, were exported and subsequently melted. Survivors are understandably scarce to rare at all levels of preservation, and in great demand.PCGS# 6954. NGC ID: 24Z7.From the Collection of James Allaire Millholland, 1842-1911.
