1861 Seated Liberty Silver Dollar. MS-64 (PCGS).
By the time the Civil War broke out in 1861 the Silver Dollar had ceased to serve a function in domestic circulation. The Mint continued to strike small quantities of these coins, nonetheless, but since the mid 1850s the business strikes were being used almost exclusively for export trade. This is the fate of the 1861, a low-mintage delivery with just 77,500 business strikes produced. Virtually the entire mintage was exported, and the few circulated and Mint State coins that have survived did so purely as a matter of chance.
Conditionally rare at the near-Gem level, this coin exhibits a mostly satin-white sheen to both sides. The surfaces are lightly toned, nonetheless, although delicate golden-apricot iridescence is present. The toning is largely confined to the reverse and the obverse periphery. Fully struck throughout, with only a few wispy abrasions scattered about in the fields. A definite highlight of both the Horseshoe Collection as a whole and this particular offering of an 1861 Mint Set.
Pedigree: From the Horseshoe Collection.