Stanford Coins and Bullion Sells Rare 1870-S Seated Liberty Dollar for $1.3 Million

[akdrv]

Houston-based Stanford Coins and Bullion announced it has sold the historic 1870-S Seated Liberty Dollar Eliasberg Specimen for $1.3 million to Certified Acceptance Corp. (CAC), a New Jersey- based company founded and owned by John Albanese. Stanford Coins and Bullion, part of the Stanford Financial Group of companies, serves investors in precious metals and collectors of rare collectible coins.

 

The 1870-S Seated Liberty Dollar Eliasberg Specimen is considered a U.S. numismatic treasure. Shrouded in mystery and intrigue, the Seated Liberty Dollars do not have any official record of ever having been minted, yet somehow 11 traced specimens are believed to exist.

 

According to Joe Frisard, President of Stanford Coins and Bullion, "The 1870-S Seated Liberty Dollar is a true numismatic rarity. Of the 11 known specimens, only three are in mint condition. The Eliasberg Specimen is graded AU53 by PCGS."

 

When the Seated Liberty Dollars were made, for coins minted in San Francisco, the Philadelphia mint would prepare the dies and then have them sent to San Francisco to be minted. J.B. Harmstead, the coiner for the San Francisco mint, engraved an "S" on the dies when they arrived, and thus the coins were struck.

 

Louis Eliasberg acquired the coin from the Will Neil sale from B. Max Mehl in 1947, after Neil had purchased the coin from the Stack's George Hall sale in 1945 for $1,450. Eliasberg later offered his holding in the landmark sale in conjunction with Stack's and Bowers and Merena.

 

Frisard said that the current market for coins is robust. "Investing in rare coins can bring true value for the client. It is part of an asset diversification strategy in a portfolio, as well as an opportunity to hold a piece of art - and history. The 1870-S Seated Liberty Dollar Eliasberg Specimen is a prime example of this," he said.

[thedeadpoint]

man, i remember when the 1804 $ broke the million dollar mark just a decade or so ago. And now it seems like every coin is making a million.

[Kristofer]

man, i remember when the 1804 $ broke the million dollar mark just a decade or so ago. And now it seems like every coin is making a million.

 

I can't wait until pennies get there go, I've got lots of pennies!

[thedeadpoint]

I can't wait until pennies get there go, I've got lots of pennies!

 

Haha... what a wonderful thought. Until you rmemeber the good ole' days of the Weimar Republic. Weren't their million mark bills worth pennies?

[Kristofer]

Haha... what a wonderful thought. Until you rmemeber the good ole' days of the Weimar Republic. Weren't their million mark bills worth pennies?

 

Yeah... but if pennies are worth millions... then... those bills would be... worth millions... you're not making any sense deadpoint. [puts on tin foil hat]

[thedeadpoint]

It was an inflation joke. Apparently I really am too dry sometimes.