Estimated grade. Sold by B. Max Mehl Jun '41 price realized $98
P. Scott Rubin: The 1851 Restrike Silver Dollar is a very scarce coin, all of these restrikes were struck in Proof. The restrikes can easily be identified since they show the date centered in the area from the Seated Liberty figure to the bottom rim. This differentiates Restrikes from Original issues of 1851 as originals exhibit a date close to the bottom of the Seated Liberty and none were struck as Proofs although many show a proof-like first strike appearance.
From 1840, the year the circulation strikes of the Seated Liberty Silver Dollar design commenced until 1850, Proof versions were made available at the Mint. 1851 was the first year of the design in which no Proofs were struck in the year of issue. This does not appear to have been a problem until the collecting of coins became more popular by 1858. The mint probably received requests from collectors and coin dealers of the day for Silver Dollars of this date and that of the following year, since both were issued for circulation in very small numbers. It is speculated that mint employees made small groups of the 1851 Proof Silver dollars to quench the thirst of the collecting public from about 1858 until possibly as late as the 1870’s.
The Restikes of 1851 first appear at auction in 1859, in recent years a few to as many as seven specimens appear at auction each year. The finest known specimen of this coin was graded Proof-66 Cameo by NGC but is now graded Proof-65 Cameo by PCGS.