
By Charles Morgan and Hubert Walker for CoinWeek Notes โฆ..
Despite its final battle taking place on Palmito Ranch, in Cameron County, Texas, on May 12 and 13, 1865, the formal end of the American Civil War did not take place until August 20, 1866, when President Andrew Johnson signed an official proclamation declaring that the โinsurrection is at an end.โ
With much of the South in ruins, the nationโs economic recovery varied based on region. While the Federal Governmentโs policy of Reconstruction was met with open hostility and sometimes violence in the South, its key pillarsโthe 13th, 14th, and 15th Amendmentsโsought to abolish slavery and extend the franchise and protections of citizenship to African American men.
Economically, the country remained mired in debt, having borrowed more than $2.7 billion to prosecute the war. Surprisingly, the government balanced its budget, and by the end of the century, the debt had been whittled down to just $1.9 billion.
Production of 1866 Liberty Seated Dollars |
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January 30, 1866 | 6,700 struck | May 8, 1866 | 15,900 struck |
June 21, 1866 | 6,600 struck | July 30, 1866 | 13,900 struck |
August 24, 1866 | 5,800 struck | Uncertain Date | 725 Proofs |
Total Mintage: | 48,900 coins |
Americans found little domestic use for the Liberty Seated Silver Dollar in 1866, but it was struck for use in international trade. The yearโs total output of 48,900 business strikes was produced over five days, with the bulk occurring between May 8 and August 24. Most of these are lost to time, and fewer than 100 likely survive in Mint State. Most 1866 Liberty Seated Dollars are in low-Mint-State grades.
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1866 Liberty Seated Dollar Market Data and Noteworthy Specimens
Top Population: PCGS MS67 (2, 4/2025), NGC MS67 (1, 4/2025), and CAC MS67 (1:0 stickered:graded, 4/2025).
- PCGS MS67 #21572796: As NGC MS67. โThe Millennium Saleโ, Bowers and Merena, August 2000. As PCGS MS67 #21572796. โLegend Collection of Mint State Seated Dollarsโ; Dell Loy Hansen. Imaged on PCGS CoinFacts. Light centers. Toned edges.
- PCGS MS67 #21545221: Stackโs Bowers, December 18, 2020, Lot 2263 โ $150,000. Golden peripheral toning on the obverse. Blue-green toning covers the reverse. Thin horizontal scratches across the field to the left and right of Liberty. Hit on Libertyโs forearm. Die crack across stars 9 and 10.
- PCGS MS66+ #38634069: โThe D. Brent Pogue Collection, Part VII,โ Stackโs Bowers, March 20, 2020, Lot 7306 โ $132,000. Pale gold centers, with orange and purple toning along the periphery.
- PCGS MS65 CAC #25596548: โThe Frog Run Collection,โ American Numismatic Rarities, November 30, 2004, Lot 1554 โ $43,125; Heritage Auctions, October 27, 2014, Lot 98598 โ $79,312.50. CAC added. All over peach toning. On the reverse, there is a tick under the eagleโs right wing.
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Design
Obverse:
The obverse features Liberty seated on a rock in classical flowing robes, her head turned to the right (viewerโs left). Libertyโs left arm is bent, her raised hand holding a Liberty pole with a cap. The right arm is extended downward at her side, with the hand balancing a shield with the word LIBERTY displayed in a curving banner. Thirteen six-pointed stars surround the seated figure inside a denticulated rim with seven on the left side, one between Libertyโs head and the cap, and the remaining five along the right. The date 1866 is centered at the bottom between the base of the rock and the rim.
Reverse:
On the reverse, an eagle is prominently displayed inside a denticulated rim. The eagleโs wings are partly spread but folded downward at the joint as if the majestic bird had just landed or perhaps instead is preparing to fly away. Above its head is a ribbon with the motto IN GOD WE TRUST. An olive branch is in the dexter claw (viewerโs left); the sinister claw clutches three arrows. The legend UNITED STATES OF AMERICA encircles the top two-thirds of the coin inside the rim, with the ONE DOL. denomination centered at the bottom.
Edge:
The edge of the 1866 Liberty Seated Dollar is reeded.
Coin Specifications
Country: | United States of America |
Year of Issue: | 1866 |
Denomination: | One Dollar (USD) |
Mintmark: | None (Philadelphia) |
Mintage: | 48,900 |
Alloy: | .900 silver, .100 copper |
Weight: | 26.73 g |
Diameter: | 38.10 mm |
Edge: | Reeded |
OBV Designer: | Christian Gobrecht, from sketches by Titian Peale/Thomas Sully |
REV Designer: | Christian Gobrecht |
Quality: | Business Strike |
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1866 Liberty Seated Dollar References
Julian, R.W. โThe Silver Dollar, 1853-1873.โ Numismatic Scrapbook Magazine. August 1964. 2124-2128. Data compiled and analyzed from the National Archives.
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