ADDITIONAL PRODUCT SPECIFICATIONS
- Product ID: 7165889
- Year: 1868
- Grade Service: ANACS Fine 15
- Denomination: $1.00
- Metal Content: 0.7734 troy oz
- Minted: Philadelphia Mint (Not Shown)
- Purity: .900
- Thickness: 3.1 mm
- Diameter: 38.1 mm
- Liberty Seated (1840-1873) / No Motto (1840-1865) / With Motto IN GOD WE TRUST (1866-1873)
VG-8 Very Good- Any three letters of LIBERTY at least two-thirds complete.
F-12 Fine- All seven letters of LIBERTY visible, though weak.
VF-20 Very Fine- LIBERTY strong, but slight wear visible on its ribbon.
EF-40 Extra Fine- Horizontal lines of shield complete. Eagle’s eye plain.
AU-50- About Uncirculated- Traces of light wear on only the high points of the design. Half of the mint luster present.
MS-60 Uncirculated- No trace of wear. Light marks or blemishes.
PF-60 Proof- Several contact marks, hairlines, or light rubs possible on surface. Luster possibly dull and eye appeal lacking.
PF-63 Choice Proof- Reflective surfaces with few blemishes in secondary focal places. No major flaws.
Distribution: Many if not most 1868 dollars were exported, accounting for the relative rarity of circulation strikes today.
In China, merchants accepted Liberty Seated dollars by weight, and at a discount compared to the heavier Mexican dollar, an old story which was repeated in Mint and commercial reports for many years (and which eventually led to the production of the heavier U.S. trade dollar in 1873).
In the Annual Report of the Director of the Mint, 1868, Dr. Henry Richard Linderman observed the following: (Linderman’s information concerning dollars in China probably represented the situation in 1867, due to the length of time needed to communicate with that remote location.)
Our silver dollar is not received by the Chinese except at a discount. This is owing to the fact that while it is of equal fineness with the Spanish or Mexican dollar, it is about 1 % less in weight. This rejection seems to take away the last plea for continuing to coin this piece.
Circulated grades: Circulated Liberty Seated dollars dated 1868 are quite scarce, but because of the high mintage figure for this date they are nearly universally overlooked by the numismatic fraternity. Exceptions, of course, are Liberty Seated specialists who know full well that a nice VF, EF, or AU 1868 is an object of beauty and rarity.
Mint State grades: The year 1868 does not come to mind immediately when one thinks of rare coins in the Liberty Seated series, but a perusal of the data, including certification service population reports, indicates that it is indeed very rare, even if it is unappreciated and overlooked. Dealer specialist Chris Napolitano stated that an MS-61 coin was the finest circulation strike he could locate in six years of searching. (Conversation with the author, Central States Convention, April 30, 1992.)
Some high-grade pieces show unfinished areas within the lower right area of the shield. Most high-grade coins are prooflike.
1. Normal Date: Breen-5479. Obverse: Date impressed to medium depth in the die.
2. Heavy Date: Breen-5479. Obverse: Date impressed deeply in die.
Dies prepared: Obverse: Unknown; Reverse: Unknown