1872 LIBERTY SEATED S$1, MOTTO MS65
WITH MOTTO. ONLY 1 GRADED HIGHER AT NGC.
1872 LIBERTY SEATED - TYPE 4 $1
In 1872, Britain $15.5 million in damages to the United States for its part in supplying the Confederate States with ships during the Civil War, despite the island nation’s neutral stance during the conflict. When the war ended, the United States demanded compensation for damages done by the British-made warships and the claim was sent to an arbitration court at Geneva where the Britain was ordered to pay. This 1872 silver dollar recalls this payment from the British that totaled more than twice the amount that the US purchased Alaska from Russia just five years earlier.
The addition of the motto IN GOD WE TRUST in 1866 marks the start of the second major type in the Seated Dollar series. The Motto variant would be produced through 1873, when the infamous Crime of '73 (Mint Act of February 12, 1873) abolished the standard Silver Dollar, replaced it with the Trade Dollar and effectively placed the United States on the gold standard.
The later years of the Seated Dollar series are filled with scarce and rare issues. The P-mint deliveries from 1866 through 1869 are seldom encountered in any grade since most business strikes were exported and melted overseas. The four Carson City Mint deliveries from 1870-1873 - the first CC-mint Silver Dollars in U.S. coinage history - are also scarce-to-rare, the final-year 1873-CC exceedingly so. Finally, the 1872-S is elusive in all grades and the 1870-S is a major numismatic rarity with only nine or 10 examples reported from an unknown original mintage.