Big old silver

[biggredd1972]

Went out for a while today with my 2 sons we found a 1861 seated dollar


wondering the value of such a coin?

 

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[Argentium]

Oh man , I was reading these responses and thinking why is nobody voting BANNER ?? then I came to the bit about funny coloring ,
(good eye !) and the weight being off . I have never been able to understand why these are almost non existent as a dug coin ?
Clearly they minted significantly less than they did of the Morgan series - but they are ULTRA RARE as a metal detected find . Any
theories

 

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[vpnavy]

Great find! Thanks for sharing...

 

[huntsman53]

Oh man , I was reading these responses and thinking why is nobody voting BANNER ?? then I came to the bit about funny coloring ,
(good eye !) and the weight being off . I have never been able to understand why these are almost non existent as a dug coin ?
Clearly they minted significantly less than they did of the Morgan series - but they are ULTRA RARE as a metal detected find . Any
theories

Considering that there were only 77,000 of the 1861 Liberty Seated Silver Dollar and as of 1860, the population of the U.S. was 31,443,321...then less than 2.5 percent of the population would have owned one a long as someone did not obtain two or more. With these stats and the size of the U.S., finding a genuine 1861 Liberty Seated Silver Dollar is like trying to get all 5 numbers and the Powerball if playing the Powerball Lottery. Also, probably as early as the 1870 or 1880's, Collectors probably realized that the coin is a Key Date due to the low mintage and folks were more careful not to lose the one or one's that they owned. I would not be surprised that if in the near future, someone comes forward with a hoard of these in Uncirculated condition!


Frank

 

[hostagedk]

an amazing find congrats! thanks for sharing

 

[MaineRelic]

The other big error the counterfeiters made was that In god we trust was not added to the reverse of the coin untill 1866 . Still a good find . I have found one as well that was a counterfeit . Took it to a coin shop and he said the confederates made a lot of these during the civil war . MaineRelic

 

[biggredd1972]

MaineRelic did the coin dealer say it was worth anything more than the copper its made of?

 

[AU Seeker]

I know that period counterfeits are worth good money, modern Chinese counterfeits are worth zero dollars.

 

[Metal Magnet]

The other big error the counterfeiters made was that In god we trust was not added to the reverse of the coin untill 1866 . Still a good find . I have found one as well that was a counterfeit . Took it to a coin shop and he said the confederates made a lot of these during the civil war . MaineRelic

ha, i didnt even catch the addition of the "In God We Trust" banner on the back. good to know. i think it's a really cool find.

 

[screwynewy]

The other big error the counterfeiters made was that In god we trust was not added to the reverse of the coin untill 1866 . Still a good find . I have found one as well that was a counterfeit . Took it to a coin shop and he said the confederates made a lot of these during the civil war . MaineRelic

Great information and good catch. That was a big mistake to make if you were going to the trouble to make a counterfeit silver dollar. You would have thought that they would have used a geniune expample of the coin they were copying.

 

[g-olden years]

Steller find - wow! Over 150 years old & looks really good! Big congrats to you guys! Andi

 

[g-olden years]

Oops, I missed the counterfeit report! But still a groovy find! Keep hitting that field for genuine old silver too! Andi

 

[wvplug]

Very, very interesting.

 

[huntsman53]

I know that period counterfeits are worth good money, modern Chinese counterfeits are worth zero dollars.

I agree! However, some Coin Dealers...especially the Bigtime Dealers, will pay pretty good prices for Chinese Counterfeits, so that they can be recorded and used as examples for spotting the Chinese fakes. I have shown some Counterfeit coins that I picked up in bulk purchases to Coin Dealers at Coin Shows and they actually asked to purchase them and paid $20 to $25 for some and up to $50 for others. Now, if an early Counterfeit can be traced to a specific and much written about Counterfeiter from the 1800's as far back as the 1500's and possibly earlier, they can sometimes fetch hundreds or thousands or even tens of thousands of dollars.


Frank

 

[SALTERSNATCH]

just so you know it is 100% fake because on 1861 seated dollar there is no motto on the back of the coin like yours. they didn't have the motto on the back until 1866. bummer man but still a great find congrats

 

[biggredd1972]

yes after much research it is fake but not sure if is a period counterfeit or not?

 

[CASPER-2]