Seated Liberty Dollars were introduced in 1840 and were minted in much bigger quantities than the preceding sparsely minted Gobrecht Dollar.
The dollars were put in circulation until 1853. In that year, the value of the silver got to be more than the face value of the coin. The coin continued to be minted mostly as a trade coin for use in the Orient. This came to an end in 1870 as the price of silver went down allowing the dollars to go back in circulation.
There were some spectacular rarities in this series. The most valuable of
those coins is the 1870-S, with 12-15 known. However, the most precious of
the series is a single known 1851-O, a coin struck under unknown and
mysterious circumstances. It is not even listed in the Guidebook of
United States Coins. It also cannot be found in Breen's Complete
Encyclopedia of US and Colonial Coins. Its value likely far exceeds that
of the 1870-S. It has not been offered for sale publicly, nor privately.
At this moment, its value is not known.
Some years are also pretty rare, like the following issues: 1851, 1852,
1858 (which was a proof-only restrike in the 1860's-1870's), 1871-CC,
1872-CC, and 1873-CC, all with only 50-500 pieces of each known to exist.
The No Motto piece issued in 1866 is refferred to as a fantasy piece,
created in the 1870's along with the No Motto quarter and half dollar, for
a favorite Mint customer. There are only 2 known which are classified as
patterns. They are neither regular issues nor restrikes.
