The 1870‑S Seated Liberty Silver Dollar is one of the most mysterious and sought-after coins in U.S. numismatics. Despite no official records of production, the San Francisco Mint inexplicably struck this 1870-dated dollar.
Today, only about 9–12 specimens are known, with values reaching $500,000–$1 million depending on condition. This coin’s existence defies conventional mint history—and collectors can’t get enough of it.
A Mint Mystery: No Official Record, Yet 12 Survivors
- No documented production: Mint ledgers list no 1870-issued silver dollars from San Francisco.
- Hidden mintage: Numismatic research confirms only 12–15 coins exist today across all grades.
- First public appearance: One surfaced in 1914 at an ANS exhibition, nearly 45 years post-minting.
This “phantom” coin has sustained interest precisely because its origin remains unresolved.
How Rare Is It, Really?
| Feature | Details |
|---|---|
| Known specimens | 9–12 confirmed survivors across all conditions |
| Only one mint-state | PCGS-certified MS62 example—the sole uncirculated survivor |
| Worn examples condition | Most are in EF–XF caught from circulation |
This makes the 1870‑S dollar rarer than numerous other iconic coins, like the 1895-S Morgan dollar or 1804 silver dollar.
Auction Records & Market Value
- 2003 Stack’s sale: MS62 example sold for $1,092,500
- 2010 Auction (XF40): Presented by PCGS, sold for $632,500
- 2015 Heritage Sale: XF40 example fetched $505,250
- NGC Value Guide: Circulated examples currently range from $540,000 to $1.3 million
Even worn pieces command six-figure prices, with the lone mint-state specimen firmly in the seven-figure bracket.
What Sets It Apart
- Mint anomaly: Struck despite no entered dies, proving secret, undocumented production.
- Scarcity: With just a dozen survivors, none in mid- to high-grade condition save one, it’s rarer than many legendary rarities.
- Collector prestige: It ranks among the top silver-dollar rarities and is consistently included in all-star rarity lists.
Table of Value and Rarity
| Grade/Condition | Estimated Value (USD) |
|---|---|
| MS62 (only known mint-state) | $1.0M–$1.3M (sold $1,092,500) |
| XF40 | $500K–$650K (sold $505–632K) |
| VF–EF | $540K–$1.3M (NGC guide ranges) |
Even at low grade, these coins sold above $500,000—testament to their unbeatable scarcity and allure.
Authenticating the Phantom Dollar
- Mint mark: A small but readable “S” under the eagle is a must.
- Die characteristics: Sharp arrows, legend style, and design matches known examples.
- Provenance and slabs: PCGS/NGC-graded pieces with auction history are essential for value and authenticity.
- Expert verification: Due to rarity, even slight irregularities require third-party certification.
Why It Continues to Haunt Collectors
- Dead mint records vs. living coins: Genuine examples exist despite official sources claiming none were made.
- Ultra-low survivor count: It’s a coin nearly impossible to find.
- Strong collector demand: Every release triggers a wave of excitement thanks to its enigma and prestige.
The 1870‑S Seated Liberty Dollar is not just scarce—it’s practically mythical. With unrecorded issuance, fewer than a dozen known survivors, and eye-popping sale prices, it holds a mystique few U.S. coins can match. Whether MS62 mint-state or XF-dimmed in service, each specimen commands a price few collectors can resist.
FAQs
Q1: How many 1870‑S silver dollars exist today?
Numismatic experts confirm only 9–12 survivors, including the single MS62 mint-state example.
Q2: Why doesn’t the Mint have records of these coins?
No dies or delivery records were logged. These coins may have slipped out unofficially—exact production numbers remain unknown.
Q3: What’s the current value of a circulated 1870‑S dollar?
Even well-worn coins in XF40 condition often sell between $500,000 and $650,000 depending on market trends.