1868 $1 MS(PCGS#6961)

1868 $1 MS (PCGS#6961)

Summer 2026 Global Showcase Auction U.S. Coins

Lot Description: Veiled in smoky-silver patina with wisps of olive and russet, both sides reveal soft champagne-pink undertones and considerable frosty luster as the surfaces rotate into direct lighting. Wispy hairlines are noted, and the overall appearance is a tad muted, but no sizeable marks are seen. Sharply defined in the absence of all but trivial wear.<p>Beginning in 1868, increased production at the Comstock and other Western mines gave silver dollar coinage at the request of bullion depositors a new, although ultimately only temporary lease on life. During the late 1860s and early 1870s Liberty Seated dollars were increasingly looked upon as a convenient storehouse for excess silver from domestic production, virtually all of which continued to be exported to Asia once converted into coin form. The Mexican government facilitated this process when, beginning in 1867, it placed a premium on the export of its own dollar by levying a local tax, after which Chinese merchants began to view the U.S. dollar as a more favorable alternative. These factors explain the trend toward higher yearly circulation strike Liberty Seated dollar coinage at the Philadelphia Mint beginning in 1868, when 162,100 coins were struck as opposed to only 46,900 pieces the previous year. With most examples melted once entering Asian markets, the 1868 is elusive today despite the more generous mintage.