Collecting Proof Seated Dollars represents the ultimate in difficulty and challenge. Not only does the patient collector require knowledge and perseverance in locating these underappreciated rarities, a deep pocketbook will be required. The United States mint manufactured proof Seated Dollars each year from 1840 to 1873 during a turbulent era when a young nation struggled to establish itself as a world entity.

I have used population reports from NGC and PCGS that were available to me as of July 1, 2006 to determine relative rarities among the 34 various issues. Although the census reports are very useful in establishing relative rarity, the reports do not include specimens that are impaired or otherwise not holdered by the grading services. I would venture what is at best an educated guess that perhaps 70 to 80 percent of all proof Seated Dollars have been certified by the two grading services with a slightly higher percentage for the rarer and more expensive specimens.

The reported numbers may be significantly off due to resubmissions and human errors on the part of the grading services. An example of this is the 1866 No Motto Dollar. A proof only transitional, considered by Walter Breen to be a "fantasy coin," the coin has a combined PCGS and NGC population of six. This is obviously misleading as it is a well known fact that only two 1866 No Motto Dollars exist. This can be explained by possible resubmissions as well as incorrect identification of the coin. I have personally seen two PCGS graded 1866 With Motto Dollars attributed incorrectly as "No Motto." Regardless, the grading reports are immensely important as they provide an objective basis for the study of relative and absolute rarity.

The mint production records where known are not very helpful. Most pre-1859 mintages are at best estimates. The difficulty lies in the fact that the later years' mintages are practically useless due to the policy of the mint at that time to melt unsold proofs at year's end or shortly thereafter.

All proof Seated Dollars dated prior to 1858 are very rare. The mint records are silent on the actual number made of the early proofs. It is baffling that for such a small number of struck pieces the mint used more than one die for some of the year's production. The numbers make sense only if the mint struck restrikes at a later date. This is further supported by the fact that one easily identifiable reverse die ("Common Reverse") was used from 1840 to 1850 and again in 1852! Some specialists have speculated that the dies were used each year of issue, put back into the vault and brought out in successive years. Given the hot and humid summer months in the east coast (I'm finalizing this report in Baltimore in mid-July), the steel dies could not have survive the 13 years without major die deterioration due to rust and other handling damage. And yet virtually no such problems are evident on the 1850 proof dollar reverse. This common reverse is found on only proof Seated Dollar where the final A in AMERICA has die defects along the center of the right side and above the right edge of the crossbar. All known proof Seated Dollars with this common reverse are considered restrikes.

1840:

For the inaugural year, there are at least two clearly identifiable varieties. One has the common reverse and represents restrikes and the other has a perfect reverse that may be originals. Both are equally rare with restrikes making slightly more appearances than the originals. Rarity Ranking: 15.

1841:

This is the rarest issue in this relatively short series. In the past twenty years, only three separate specimens have been seen and identified plus the specimen in the Smithsonian. All known proofs are restrikes and have the same common reverse. Rarity Ranking: 1.

1842:

All known proof 1842 Seated Dollars were struck from a single pair of dies. The obverse has a few slanting die file marks around Liberty's left hand and the top of the ribbon upon which LIBERTY is inscribed. All observed specimens are restrikes with the common reverse. Possibly the second rarest date in this incredible series. Rarity Ranking: 2.

1843:

Although the number produced is unknown, this issue remains one of the rarest of the early proof issues. This date is tied for third with the 1849 and 1853 and, with the 1841 and 1842 issues, makes up the top five rarest proofs. All known issues have the perfect date whereas all business issues have the date lightly repunched, especially on the last two digits. All observed specimens are restrikes with the common reverse. Rarity Ranking: tied at 3.

1844:

The Proofs of 1844 can easily be distinguished from business strikes by the vertical shield stripes. The proofs have three lines whereas all known business strikes are doubled dies and display four lines. All observed proofs are restrikes with the common reverse. Rarity Ranking: 7.

1845:

Almost all proofs seen of this date have the recut date where the 8 in the date is widely repunched south and the 4 shows light recutting on the crossbar. All recut date 1845's are restrike proofs only. There is at least one proof with the perfect date or "Normal Date" without any evidence of recutting on any digit. Both have the common reverse. Rarity Ranking: tied at 9.

1846:

All known proofs of this year are restrikes and have dramatically recut date. This obverse is paired with the common reverse. Rarity Ranking: tied at 9.

1847:

This is an underrated proof issue previously considered "common" by some specialist, possibly due to early population reports showing several graded in proof early on. All issues of this year have the common reverse. Rarity Ranking: 8.

1848:

A marker for this rare proof is a trio of small die chips below Liberty's left breast. All inspected proofs from this year are restrikes and have the common reverse. Rarity Ranking: 6.

1849:

Some specialist have argued that this date is the rarest of the dollars from the decade of the 1840s. Certainly a strong argument can be made in support of that assertion as the population reports indicates that this issue is tied for third. All proofs are restrikes. The date show a distinctive imperfection on the 4 in the date and is combined with the common reverse. Rarity Ranking: tied at 3.

1850:

Most issues show an Open 5 and recutting on the digit 0 on the date paired with the common reverse. There is also a second variety that combines a Closed 5 obverse with a new reverse die that was not used to produce any of the earlier proofs in this series. There is no repunching of the 0 on the date. Although not unanimous, some specialists consider the Closed 5 variety business strikes only. All inspected proofs are restrikes. Rarity Ranking: 12.

1851:

All known 1851 proof dollars are restrikes with date centered between the base of Liberty and the border. The originals, struck in 1851, have the date high in the field with the tops of each numeral close to the base of Liberty. Rarity Ranking: 16.

1852:

Like the restrike 1851 Seated Dollar, the restrike 1852 was produced solely for the benefit of collectors and in proof finish only. There exists some confusion regarding the status of originals and restrikes, and much more research in this area is required. However, most reverse seen have been from the same dies as the proof 1859 specimen. There is one example reported of a proof 1852 (the ANS specimen) that is paired with the common reverse of 1840 to 1850. The 1852 is much rarer than the 1851 especially in proof. Rarity Ranking: 11.

1853:

This issue has been surprisingly difficult to find in proof. Based on the combined census, the 1853 rates among the top five rarest issues. Rarity Ranking: tied at 3.

1854:

Although the Coinage Act of February 1853 reduced the weight of smaller denomination silver coins, the Act did not alter the weight of silver dollars. Accordingly, silver dollars continued to have a value greater than their face value, and were highly sought by bullion dealers as well as individual hoarders. As such, the circulation strike dollars of 1854 are rarities and made it necessary for the mint to produce an unknown quantity of proofs for the collector. The proof obverse has what appears to be the top of a misplaced 4 over the space between the digits 54 of the date. Rarity Ranking: tied at 13.

1855:

There is only one known obverse die for this issue, and it is identifiable by a die scratch through the denticles above Liberty's forehead. Apparently two reverse dies were used to produce this very rare proof issue. Rarity Ranking: tied at 13.

1856:

Although the exact number of proofs struck in 1856 is not known, based on the number of coins certified by the grading services, I would venture a guess that more than 150 were made. Of that number, probably 70 to 80 or so proofs might still be extant today. The marker to differentiate between a proof and a business strike is to look for the die scratch between the tail and the loop of the 6 on the date that is characteristic of all observed business strikes. Rarity Ranking: tied at 17.

1857:

Again, the exact number of proofs struck this year is not known, but, based on the number of survivors, approximately 150 proofs were probably minted and approximately 70 to 80 or so proofs might still be extant today similar to the 1856 proofs. Rarity Ranking: tied at 17.

1858: Mintage 300+

The 1858 is the only proof-only date in the Liberty Seated silver dollar series. Based on the assumed survival ratio of 50 percent, the mintage figure of 300 or more seems accurate as approximately 150 to 180 are currently believe to exist today. All known survivors were struck from one obverse die paired with at least two reverse dies, one being the same reverse die that the mint used to deliver some 1856 and 1857 proofs with a prominent rust lump over the left base of the L in DOL. Several others were made with the reverse die which was used to produce some proof 1859 examples. Rarity Ranking: 19.

1859: Mintage 800

In his Proof Encyclopedia, Walter Breen reports that of the 800 proofs made in 1859, only 450 pieces were sold and the remaining pieces were sent to the melting pot in 1862. Virtually all specimens display repunching on the base of the 1 in the date. Rarity Ranking: 21.

1860: Mintage 1,330

Although 1,330 proofs were made, only 527 proofs were sold, and the remainder of the production was melted by the mint accounting for the low survival of specimens today. This is consistent with known number of survivors and the number certified by the grading services. Rarity Ranking: 22.

1861: Mintage 1,000

Although 1,000 pieces were minted, on January 13, 1862, per Walter Breen, more than a thousand unsold proof sets were melted by the mint. Most of these were likely dated 1861. This may account for the very low survival rate for this issue and making it the rarest of the post-1858 proofs. Rarity Ranking: 20.

1862: Mintage 550

This issue is especially desirable today because of the paucity of business strikes in 1862. Rarity Ranking: 25.

1863: Mintage 460

Proofs of this Civil War era issue are distinguished from business strikes by a date that is low in the field and the left base of the 1 in the date is centered between two denticles. Rarity Ranking: 24.

1864: Mintage 470

Because of the extreme scarcity of business strikes of this date, there is considerable date pressure on the 470 proofs that were produced of the 1864. All business strikes from this year have the repunched date with the "18" showing microscopic repunching. All proofs seen to date have perfect dates. Rarity Ranking: 23.

1865: Mintage 500

Most proofs have a horizontal die scratch on the obverse rim at 7 o'clock. An even 500 proofs were distributed in the last year of the No Motto design. Some of the nicest proofs with great strike and cameo contrast were made this year. Rarity Ranking: 26.

1866: Mintage 725

A popular first year type. There are at least two different varieties. One has a reverse with a die line touching the letters of N GOD within the motto and a similar line through the center of WE. Rarity Ranking: 33.

1867: Mintage 625

This year had some of the best made proof dollars with great cameo contrast. Walter Breen's report of a very rare repunched date proof variety is most likely an error. The repunched date, where the date is repunched over a smaller date logo used for the half dollar, is the key characteristic of all business strikes. There has been some confusion as many prooflike business strikes have been misattributed as proofs. Accordingly, the easy way to differentiate between proofs and business strikes is the absence of the repunching of the date on all proofs. Rarity Ranking: 34.

1868: Mintage 600

All observed proofs have the 1 in the date repunched and is visible on the flag and base of the digit. Rarity Ranking: 31.

1869: Mintage 600

Proofs of this date were struck from possibly three different combinations of obverse and reverse dies. On the most common variety, the date has the appearance of slanting slightly up to the right in the field below Liberty. Rarity Ranking: 30.

1870: Mintage 1,000

Many were melted at year's end, making the 1870 scarcer than its mintage would indicate. There are two varieties of proof 1870 Dollars. One displays light die doubling on the feathers of the left wing. Rarity Ranking: 32.

1871: Mintage 960

At least two varieties exist with one showing a reverse doubled die where the motto IN GOD WE is nicely doubled. Again, it appears that many proofs that remained unsold were melted at year's end. Rarity Ranking: 29.

1872: Mintage 950

Most proofs inspected come with the same reverse doubled die used the previous year. Rarity Ranking: 28.

1873: Mintage 600

Discontinued by the Mint Act of 1873, this final Seated Dollar is a favorite of type collectors. Almost all proofs of this date are observed with the same reverse doubled die use the previous two years. Rarity Ranking: 27.