The 1859-O Liberty Seated silver dollar is a favorite among specialists and type collectors, hailed for its overall superior production quality and general availability in Mint State. 360,000 dollars were struck at the New Orleans Mint in 1859, which marked the first time the denomination was struck at the facility since 1850. Though intended for export to China, significant quantities of this issue remained in the domestic market and found their way into the hands of silver depositors and bullion dealers, who likely placed them into circulation in the 1870s once the price of silver fell. Additionally, it is thought that 2,000 to 3,000 examples were released by the Treasury in the mid-20th century in a manner most familiar to collectors of the Morgan series. While still fully Uncirculated, most coins released by the Treasury displayed bag marks and abrasions from improper storage and transport, confining them to the lowest Mint State grades. Examples at the MS-64 level typically appear at auction only once per year on average, and Gem examples are incredibly rare with just three coins certified MS-65 across both PCGS and NGC.
The 1859-O silver dollar to be offered in our November Collectors Choice Online Auction, Part II, is a magnificent survivor certified MS-65 by PCGS. As one of the three finest known examples, it showcases smooth surfaces that show no notable abrasions. The strike is razor sharp across all elements, and the frosty luster across the devices is emphasized by the satiny texture in the fields. Traces of subtle golden-olive enhance the eye appeal. This example will be offered in Part II of our November 2018 Collectors Choice Online Auction, which will open for live bidding on Tuesday, November 20th. If you would like to consign your collection to a future Collectors Choice Online Auction call 800-458-4646 or e-mail Info@StacksBowers.com to speak to a numismatic expert today.