1846 10C PR65+ Certification #56914113, PCGS #4733

Charles Morgan

1846 Liberty Seated Dime Proof

The 1846 Liberty Seated Dime Proof (#4733) is a rare coin with an estimated mintage of only 10 to 15 pieces. The PCGS Condition Census currently identifies 10 distinct surviving examples.

The Era of "Master Coins"

The United States Mint did not officially market Proof coins to the public until 1858—a move prompted by the surge in collecting interest following the discontinuation of the Large Cents and Half Cents. Prior to this "official" era, the Mint produced a limited number of high-quality strikes known as "Master Coins." Deep dives into the National Archives continue to shed light on why these were created. We know, for instance, that 1834 Proof Sets were struck as diplomatic gifts. Similarly, "Master Coins" struck in 1841 appear to have been commissioned by the State Department for coin exchanges to bolster the Mint Cabinet’s collection of foreign specimens. This diplomatic purpose likely explains the unusually large production of the 1841 $2.50 "Little Princess" Proofs (#7867).

If early Proofs were struck for international exchange and later released into domestic circulation once the dates became obsolete, it would explain how they trickled into the market without explicit marketing. While "connected" individuals certainly had access to these rarities, diplomatic utility likely provided the original catalyst for their creation.

Advancing the Reference Library

For decades, Walter Breen’s Encyclopedia of United States and Colonial Proof Coins, 1722-1989 was the definitive resource. However, 2026 marks a significant shift for advanced collectors with the release of John Dannreuther’s comprehensive two-volume study on American silver Proofs.

Technical Analysis and Corrections

Regarding the 1846 Liberty Seated Dime Proof, Breen’s original analysis was somewhat incomplete. He traced nine examples but identified a specific diagnostic—a lint mark between the 6th and 7th stars—as unique to the "Balboa Bank Set" specimen. Current research indicates this is not an isolated occurrence; rather, the lint mark appears on the majority of known examples. Other recurring die characteristics include: Raised elements surrounding several stars. A distinct curved mark to the right of Star 2, visible on multiple specimens.

* * *