Lot 2888
1860-O Liberty Seated Dollar. ICG graded MS-63. A brilliant white untoned frosty mint example. An outstanding lustrous and frosty example with nice rotating cartwheels free of toning or heavy bagmarks. The reverse and obverse centers play host to a brilliance and originality always appreciated by the stronger buyers of Seated Liberty coinage. In short, a lovely MS63, one that certainly meets the qualifications for the grade.
An export dollar, the 1860-O dollar was probably intended primarily for the export trade, which was active through New Orleans (America’s largest port at the time). Most were used in this way, although probably several tens of thousands were held domestically. As to its availability of Mint State grades, it was believed by Walter H. Breen that 6,000 coins were released by the Treasury during the 1962-1964 silver dollar distribution, "although other opinions as to the quantity vary widely," explains Bowers-Borckhardt in their Silver Dollar encyclopedia. Nearly all of these were heavily bagmarked and today fall in the MS-60 or slightly finer category. One uncouth coin dealer (since deceased) -- one hesitates to call him a numismatist -- once said tongue-in-cheek of this issue: "The average BU 1860-O dollar earned the nickname of 'Quaker Oats dollar,' because it looks like it was shot from guns." (PCGS # 6950) .
Estimated Value $2,300 - 2,500.
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