In a remarkable turn of events, a routine closet cleanout in Houston, Texas, led to the discovery of an ultra-rare 1870-S Seated Liberty Dollar, a coin so scarce that only 12 specimens are known to exist.
This particular coin, known as the Eliasberg Specimen, was sold privately for an astonishing $1.3 million by Stanford Coins and Bullion to Certified Acceptance Corp.
The 1870-S Seated Liberty Dollar: A Numismatic Marvel
The 1870-S Seated Liberty Dollar holds a unique place in American numismatic history. Despite no official mint records indicating its production, 12 examples have surfaced over the years.
These coins were likely struck at the San Francisco Mint, with the “S” mintmark added locally.
The coin’s obverse features Lady Liberty seated, while the reverse showcases a heraldic eagle, both designed by Christian Gobrecht.
Key Details of the 1870-S Seated Liberty Dollar
| Feature | Details |
|---|---|
| Year Minted | 1870 |
| Mint Location | San Francisco (S) |
| Known Specimens | 12 |
| Composition | 90% Silver, 10% Copper |
| Diameter | 38.1 mm |
| Weight | 26.73 grams |
| Edge | Reeded |
| Designer | Christian Gobrecht |
| Highest Sale Price | $1.3 million (Eliasberg Specimen) |
The Eliasberg Specimen: A Coin with a Storied Past
The Eliasberg Specimen, named after renowned collector Louis Eliasberg, is graded AU53 by PCGS.
Its provenance includes ownership by King Farouk of Egypt and appearances in several prominent auctions. The coin’s exceptional condition and documented history contribute to its high valuation.
Market Value and Collectibility
The 1870-S Seated Liberty Dollar is considered one of the most coveted coins among collectors.
Its rarity and historical significance drive its value, with prices ranging from several hundred thousand dollars to over a million, depending on condition and provenance.
The discovery and sale of the 1870-S Seated Liberty Dollar underscore the enduring allure of rare coins.
This numismatic gem not only represents a significant piece of American history but also serves as a reminder of the potential value hidden in personal collections.
For collectors and enthusiasts, it reinforces the importance of preserving and understanding the stories behind these timeless artifacts.
FAQs
Why is the 1870-S Seated Liberty Dollar so rare?
No official records confirm its mintage, and only 12 specimens are known, making it exceptionally scarce.
What makes the Eliasberg Specimen special?
Its excellent condition (graded AU53) and well-documented ownership history enhance its value and desirability.
Can I find such rare coins in my collection?
While unlikely, it’s possible. Regularly reviewing and appraising your collection can uncover hidden treasures.