1850 Seated $1 (1850 Seated Silver Dollar) NGC PF64. This Liberty Seated proof 1850 Silver Dollar has a sharp, full strike, as expected for a proof coin. The centers of the stars and the feathers of the eagle are all bold. The surfaces show some cameo contrast with the principal devices lighter than the fields on both sides. Not a trace of wear is seen on the coin, in keeping with the grade.

Designed by Christian Gobrecht, the obverse shows Liberty looking over her shoulder to the left as she sits on a rock. In one hand she holds a pole with a Phrygian cap upon it. With the other she balances the LIBERTY inscribed Union shield. Thirteen stars are above, interrupted by her head and the cap, and the date is below. The reverse shows the heraldic eagle looking left. In its talons are the olive branch and arrows, symbols of peace and preparedness. At the top is the required inscription UNITED STATES OF AMERICA. The denomination written as ONE DOL. is below.

There were three varieties of the proof strike of 1850. One issue has a closed 5 in the date. The other two have open 5s. One of the open 5 issues has a heavy die crack through the base of the date. The present coin is the open 5 without the die crack. The reverse uses the reverse of 1840-50, which has elements of the vertical shield stripes extending through the horizontal line above. The right part of the first stripe extends farthest upward and touches the third horizontal stripe.

Christian Gobrecht was the third Chief Engraver at Mint in Philadelphia. He was born in Hanover, Pennsylvania in 1785. His father, a German immigrant was a reverend. His mother, Elizabeth Sands was a descendent of the early settlers of Plymouth Colony. In 1818 Gobrecht married Mary Hewes. After an apprenticeship, he became an engraver of clockworks in Baltimore. Later, in Philadelphia, he joined a banknote engraving firm where he had an excellent job. He invented a machine that enabled one to convert a three-dimensional medal into an illustration. Understandably, Gobrecht was reluctant to join the Mint staff and work for less money. In order to persuade him to leave the engraving firm, Mint Director Robert Patterson convinced Chief Engraver William Kneass, incapacitated by a stroke, to give up a significant part of his salary so more money would be available to hire the new employee permanently. Gobrechts first work for the United States Mint was in 1826 when he made dies as an assistant to Kneass. When Kneass was unable to continue working because of the stroke, Gobrecht did all the die and pattern work. He was Chief Engraver from 1840 until his death in 1844. Famous for his Liberty Seated dollar obverse, which was used for all denominations of silver coinage, he was responsible for also designing the Liberty Head motif that was first used on the gold eagle, and then on the half cent, the cent, and the gold quarter and half eagles.

The original mintage of the 1840 proof dollar is 40 to 60 making it a fundamental rarity in any condition. Only 15 to 20 are known to have survived. In its population report, NGC shows this specimen tied for second best with 9 others; there are 3 better. PCGS has only 2 in Proof 64 with none better, and these numbers do not account for crossovers or resubmissions.