The 1866 Seated Liberty silver dollars have value as numismatic coins. Keep reading to learn more about these coins.
Specifications
Type: Seated Liberty Dollar
Year: 1866
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $24.14
This was the first year that the "IN GOD WE TRUST" motto was added to the reverse side of the coin.
The US minted the 1866 silver dollar with no mint mark. No other series were minted for this year.
| Series | Location | Quantity Minted |
|---|---|---|
| 1866 | Philadelphia | 48,900 |
Value
This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $24.14. This melt value is calculated from the current silver spot price of $31.22 per ounce.
The 1866 silver dollar is worth around $500 in very good condition. In very fine condition the value is around $800. In extremely fine condition the value is around $1,250. In uncirculated condition the price is around $2,500 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $5,500.
Proof coins are available and they are each valued at around $3,800 in PR 63 condition. There were 725 proof coins minted.
No Motto Variety
There is an extremely rare error variety for the 1866 proof silver dollar. On the reverse side of the coin the "IN GOD WE TRUST" motto is not present. This is called the no motto variety and it's one of the rarest American coins in existence. Only two of these coins are known to exist.
The 1866 proof silver dollar with no motto is worth around $1,000,000 in PR 63 condition.
Grading System
Very good- The word "LIBERTY" on the shield is mostly complete.
Very fine- The word "LIBERTY" on the shield is strong but the ribbon shows slight wear.
Extremely fine- The horizontal lines on the shield are distinct. The eagle's eye is plain.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
Sources:
The Red Book
See also: