Are you building your Seated Liberty dollar collection? Have you come across a 1842 silver dollar and are curious whether it’s worth anything? You’ve come to the right place! Our 1842 Seated Liberty dollar value guide will explain everything you need to know about this third-year issue of the Liberty Seated dollar.
You will learn about the coin’s interesting history, familiarize yourself with key features for authenticating and grading your silver coin, and learn tips for grading like a pro. We’ll also reveal fascinating, high-value minting errors that are worth a spot in your collection.
So, without further ado, let’s jump in and find out: how much is a 1842 Seated Liberty dollar worth?
1842 Seated Liberty Dollar Value Chart |
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| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1842-No Mint Mark Seated Liberty Dollar Value | $400 | $575 | $1,000 | $23,500 |
| 1841 Proof Seated Liberty Dollar Value | – | – | – | $80,000 |
History of the 1842 Seated Liberty Dollar
The United States Mint struck the Seated Liberty Dollar from 1840 to 1873, the last silver dollar to be struck before production halted temporarily. The design for the Seated Liberty dollar was inspired by the Gobrecht dollar, minted experimentally several years before in 1836.
Indeed, the 1830s were full of significant milestones for American commerce and coinage. It was during this period that Congress gave the Mint permanent status, and in 1832, authorized a new building where the Philadelphia Mint would be located. A few years later, in 1836, the Mint acquired the first steam machine, eliminating the manual process used to strike coins.
It was against the background of the numerous changes that Mint Director Robert Patterson consulted renowned artists Thomas Sully and Titian Peale to create designs for new American silver coins. Patterson suggested that the obverse of the new silver coin feature the image of Liberty seated on a rock while holding a staff. The reverse, on the other hand, would feature a flying eagle that appears as natural as possible.
Mint Chief Engraver William Kneass designed sketches based on Patterson’s suggestion but suffered a stroke, paving the way for his assistant engraver, Christian Gobrecht, to take over the work of designing the new coins. Eventually, Kneass passed away, and Gobrecht was appointed the new chief engraver. After several trial strikes, the Gobrecht dollars were struck in December 1836. Small amounts of this new dollar were struck until 1839, when production ceased, but by now, it was clear that the public had accepted the Seated Liberty design, and the Mint knew it was time to go ahead with full-scale production.
A small batch of the new silver dollars was produced in July 1840, an additional $41,000 pieces in November, and a final batch of 7,505 all struck at the Philadelphia Mint. The years 1841, 1842, and 1843 had the highest mintages in the entire series, making examples common in all grades. The 1842 seated liberty dollar is well-struck and desirable even in lower grades. Mint State examples are also easy to come by up to MS66, but anything higher can be difficult to collect. All in all, this third-year issue of the Seated Liberty dollar is worth collecting if you are looking for a sentimental historic coin that offers true value.
Also read: 12 Most Valuable One-Dollar Coin Worth Money
Features of the 1842 Seated Liberty Dollar
Next, we’ll explore the standout features of the 1842 seated liberty dollar. By knowing these characteristics, you can authenticate and grade your silver coins and even spot Seated Liberty dollars worth good money.
Here’s what to look out for:
Obverse of the 1842 Seated Liberty Dollar
On the front side of the coin is a portrait of Liberty seated on a rock and looking over her shoulder. She holds a staff topped with a Phrygian cap in her left hand, and a shield with the inscription LIBERTY in her right hand.
The date, 1842, is etched at the bottom along the rim. Seven stars appear on the left side along the rim and six on the right; all thirteen stars represent the first state to join the Union. Tiny denticles decorate the entire circumference.
Reverse of the 1842 Seated Liberty Dollar
When you flip over the coin, you’ll find an image of a bald eagle with a shield on its chest. The shield represents strength in the unity between the federal and state governments, but also symbolizes non-aggression.
The eagle also holds an olive branch in its right talon, representing peace, while the arrows in the left talon symbolize victory.
The words UNITED STATES OF AMERICA are etched at the top while the denomination, ONE DOL., is shown at the bottom along the rim. Like the obverse, the reverse is decorated with denticles all around its circumference.
Other Features of the 1842 Seated Liberty Dollar
Other notable features of the 1842 seated liberty dollar include:
- Diameter: 38.10 millimeters
- Weight: 26.73 grams
- Edge: Reeded
- Metal Composition: 90% Silver, 10% Copper
- ASW: 0.7734oz
- Fineness: 0.9
Also read: 14 Most Valuable Coins In Circulation
1842 Seated Liberty Dollar Value Guides
Now, onto the big question: What is the value of a 1842 Seated Liberty dollar? This depends on factors such as the coin’s condition and rarity.
There are two types of the 1842 seated liberty dollar:
- 1842 No-Mint mark Seated Liberty Dollar
- 1842 Proof Seated Liberty Dollar
Let’s find out how much each is worth:
1842 No-Mint mark Seated Liberty Dollar Value
The Philadelphia Mint struck an estimated 184,618 regular issue Liberty Seated dollars in 1842, one of the highest mintages in the entire series. Circulated examples are relatively common and well struck, and Mint State pieces in lower grades are occasionally available, although Gems can be elusive.
Here’s a breakdown of what to expect when collecting 1842 seated liberty dollars:
- Circulated Examples: These are fairly common and easier to collect than other dates in the Seated Liberty series. These coins were initially well-struck, so nice survivors are relatively accessible. Even in lower grades, the 1842 Seated Liberty dollar will fetch some good prices. For example, in Poor/Average condition, examples can sell for $300 while Good (G) ones are worth up to $400. In Fine (F) condition, examples can fetch as much as $575, while Extremely Fine (XF) pieces will command up to $1,000. About Uncirculated (AU58) coins are scarce but desirable and will sell for as much as $2,100.
- Mint State Example: Uncirculated examples are common in lower grades from MS60 to MS63, and many survivors show light frosty mint luster while a few have a semi-prooflike luster. True gems are genuinely rare. Indeed, this is the first issue of the Liberty Seated dollar in which Mint State examples are readily available. In MS60, specimens can command up to $3,000 and as much as $4,250 in MS62. The prices rise to $6,500 in MS63 and drastically shoot up to $23,500 in MS64. Examples graded MS65 and higher are extremely rare and will typically command prohibitively high prices.
- Auction Record: In a 2022 sale, Legend Rare Coins Auctions sold an MS64+ for a record-breaking $24,675, making this one of the most valuable 1842 Seated Liberty dollars.
1842 Proof Seated Liberty Dollar Value
Only about 15 proof silver dollars were struck in 1842 at the Philadelphia Mint, one of the smallest mintages in the Seated Liberty Proof Dollars series. Today, fewer than a dozen survivors are known, and only three have been certified by the Professional Coin Grading Service (PCGS). Although some might exist, currently, there are no known cameo proofs of the 1842 Seated Dollars.
As expected, these extremely rare special strike silver dollars can command significant premiums. In MS61, for example, pieces will fetch at least $18,500, and as much as $40,000 in MS63. Prices double in MS65, where examples can sell for up to $80,000 or more.
Also read: Top 10 Most Valuable Morgan Silver Dollar Worth Money
1842 Seated Liberty Dollar Grading
Accurate grading of the 1842 Seated Liberty dollar is important given its high demand among collectors, as a target for counterfeiting, and its relatively large size. Grading entails examining the coin for wear, strike quality, and surface luster.
Start by evaluating the high points where wear shows first. These include Liberty’s features such as her face, arms, breast, and knee area. Also, pay attention to the shield in her right hand, including the stripes and inscription, and don’t forget the stars along the rim. On the reverse, look at the eagle’s features such as the breast, wing, tail, and neck feathers, legs, and talons, as well as the shield on its breast.
In lower grade coins, the details will be weak, less defined, flat, and, depending on the grade, almost invisible. Higher-grade dollars will have crisper details, including bolder outlines and clearer, more visible design elements and inscriptions.
Evaluate the strike quality as well. Although these silver dollars were generally well struck, lower-grade examples will show a weak strike, specifically on Liberty’s hair and the stars. These details and others will be bolder and more visible on higher-grade dollars.
Lastly, pay attention to the surface luster, which says a lot about a coin’s grade. Uncirculated examples reveal frosty, shiny surfaces, while lower-grade worn examples will have little to no luster and may show signs of damage, including dings, dents, and scratches.
Check out this video for more tips on grading Seated Liberty dollars.
Rare 1842 Seated Liberty Dollar Errors List
Although the 1842 silver dollars were generally well-struck, a few minting errors in the series have been discovered. Not all of these errors are valuable, but some are definitely worth collecting.
Here are some to look out for:
1. 1842 Seated Liberty Dollar Re-punched Date Error
A re-punched date error occurs when one or more digits in the date overlap, show some doubling, or reveal a ghost outline. This error occurs when the date is punched into the die multiple times at slightly different positions, resulting in some overlapping in the digits. A re-punched date error can add $50-$100 or more to the value of your silver dollar. For example, Stack’s Bowers auctioned a 1842 Seated Liberty dollar graded Extremely Fine (XF) with a re-punched date error for $1,200.
2. 1842 Seated Liberty Dollar Off-Center Strike Error
Another error often seen on 1842 silver dollars is the off-center strike, which happens when the die strikes the planchet more toward the edge instead of in the center. This error’s value depends on the percentage of the off-center strike, for example, a 15% off-center strike would typically be more valuable than a 5% error. In 2012, a collector on eBay paid an impressive $2,300 for a 1842 silver dollar graded About Uncirculated (AU58) with a 25% off-center strike error.
3. 1842 Seated Liberty Dollar Rotated Die Error
Another high-value error found in the series is the rotated die, which happens due to a misalignment between the planchet and die. This results in the design being struck at a rotated angle instead of the usual upright position, creating a dramatic effect that greatly appeals to collectors. A rotated die error is worth $100-$200, depending on the extent of the misalignment. In 2009, Heritage Auctions sold a 1842 silver dollar graded MS60 with an obverse rotated die error for $3,200.
Where to Sell Your 1842 Silver Dollar?
Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons.
Check out now: Best Places To Sell Coins Online (Pros & Cons)
FAQs
How much is a 1842 silver dollar worth?
The value of a 1842 Seated Liberty dollar depends on its condition and rarity. However, even in lower grades, this historic coin can fetch premiums. Prices range from $300 to $2,100 for pieces in circulated condition to as much as $23,500 or more for unworn examples.
Why are seated Liberty dollars so expensive?
Seated Liberty dollars, including the 1842 issue, did not circulate widely compared to other denominations such as the dime, quarter, or half dollar—many silver dollars were hoarded for smelting due to their higher silver content. Another reason could be that these coins had significantly low mintages, and since they were minted more than 200 years ago, only a few gradable survivors exist. This combination of factors significantly increases the value of Seated Liberty dollars.
Are Liberty dollars made of silver?
Yes. Seated Liberty dollars, including the 1842 issue, are made of 90% Silver and 10% Copper. One way to authenticate a silver dollar is by using the magnet test—if the coin contains silver, it should not stick to the magnet. Apart from this, you can authenticate your Seated Liberty dollars by comparing key features such as the diameter, weight, and edge with images of authentic and certified silver dollars from the PCGS or NGC.
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