PCGS COIN OF THE ISSUE - 1865 Liberty Seated Dollar

By Joshua McMorrow-Hernandez

There’s something special about a coin that has spent more than a century in one family. It tells a real story in a way that few other coins can. In the case of one particularly special 1865 Liberty Seated Dollar that was recently consigned to Stack’s Bowers Galleries, this piece shares a tale from another time, another place altogether.

This coin spent most of its life in the cabinet of James A. Millholland, a 19th-century railroad executive who prospered during a time when the American rail steamed wide-eyed travelers to newly platted paradises west beyond the horizons of the Mighty Mississippi and south to the tropical shores of Florida. Fortunes were gained during the heyday of the iron horse. Millholland was able to fill a custom-made wooden coin cabinet fit for a numismatic king, brimming with many treasures spanning from half cents through silver dollars. One of these silver dollars is a magnificent 1865 Proof Liberty Seated Dollar.

Awash in champagne hues and kissed with rainbow dappling, this 1865 Liberty Seated Dollar, graded PCGS PR66+, is a fascinating highlight of the James A. Millholland Collection, which includes some 550 coins. The prestigious collection, profiled in greater depth on pages 53-54 of this issue, is hitting the block at the Stack’s Bowers Galleries March 2023 Official Auction of the Whitman Spring Expo.

This 1865 Liberty Seated Dollar is graded PCGS PR66+ and is a crown jewel from the James A. Millholland Collection, which is being sold by Stack’s Bowers Galleries. Courtesy of PCGS TrueView.

“The thrill of presenting such an original collection simply never gets old,” said Stack’s Bowers Galleries Executive Vice President Christine Karstedt. “Stack’s Bowers Galleries is celebrating its 90th anniversary this year, and the firm's illustrious history was built on presenting just this type of cabinet to a new generation of collectors. It gives us all a chance to reflect on the times in which this collection was built and how the hobby has changed over the past century. What remains constant is the enthusiasm for collecting shared by numismatists, both then and now.”

No collector alive today has had the opportunity to purchase this remarkable specimen of the 1865 Liberty Seated Dollar –not to mention any of the other coins from this collection being sold by Stack’s Bowers Galleries. This gives collectors a unique chance to upgrade or complete existing sets or even endeavor on building a new wing of their collections altogether. Making this sale even more alluring still is its inclusivity, both in terms of the coins involved and the collectors it can reach. Thanks to a rich blend of coins that will appeal to those on more modest budgets as well as those who are positioned for acquiring coins of the trophy level, the James A. Millholland Collection has something for virtually everyone.

The Proof Liberty Seated Dollar graded PR66+ is a coin of truly coveted quality, for just one exists at this grade and only three are graded higher by PCGS. With those figures alone, this coin stands in an elite class. However, what sets this treasure apart from any of its peers is its distinguishing eye appeal and toning, the classic American story it tells, and the immense pride it will surely bring its next owner.

Joshua McMorrow-Hernandez has won multiple awards from the NLG and ANA for his work as a numismatic journalist and editor. He has been a coin collector since 1992 and enjoys all areas of United States coinage and U.S. minting history.