why no 1858 seated dollar?

shuckins

1858 SILVER DOLLAR
PCGS No: 7001, 87001

Mintage:
Circulation strikes: 0
Proofs: estimated 300

Designer: Christian Gobrecht

Diameter: 38.1 millimeters

Metal Content:
Silver - 90%
Copper - 10%

Weight: 26.73 grams

Edge: Reeded

Mintmark: None (for Philadelphia) below the eagle on the reverse

fc

i am going to guess due to the price of silver they did not bother
mint it. the amount of silver in the coin was worth more then a dollar.

they made proofs because they could make a small profit on them?

sounds good to me :-)

" In 1853, the value of the silver was more than the face value of the coin. The coin was continued to be minted mainly as a trade coin to be used in the Orient. This ended in 1870 when the price of silver lowered allowing the dollars to be placed back in normal circulation."

seateddime

made proof to meet collector demand.

In the very old days the mint used to also trade coins and patterns for coins to complete it collection

ricko

I did not know that... thanks for the information. Cheers, RickO

EagleEye

I think it may have something to do with the issuance of the Flying Eagle Cent, indirectly though. Along with the Large Cent and Half Cent redemption, the Mint was redeeming the Spanish (Mexican mostly) silver for Federal silver coins. Half Dollars were preferred as the largest subsidary silver denomination. If the Dollar was to be issued to replace the foreign silver, it do so at a loss, since it was still at the pre-1853 standard. Rather than make an argument about why you could only get Half Dollars, Quarters and Dimes, they just said "We aren't making any Dollars, so there".