Houston, TX – Houston-based Stanford Coins and Bullion announced it has sold the historic 1870-S Seated Liberty Dollar Eliasberg Specimen for $1.3 million to Certified Acceptance Corp. (CAC), a New Jersey-based company founded and owned by John Albanese. Stanford Coins and Bullion, part of the Stanford Financial Group of companies, serves investors in precious metals and collectors of rare collectible coins.
The 1870-S Seated Liberty Dollar Eliasberg Specimen is considered a U.S. numismatic treasure. Shrouded in mystery and intrigue, the Seated Liberty Dollars do not have any official record of ever having been minted, yet somehow 11 traced specimens are believed to exist.
According to Joe Frisard, President of Stanford Coins and Bullion,
“The 1870-S Seated Liberty Dollar is a true numismatic rarity. Of the 11 known specimens, only three are in mint condition. The Eliasberg Specimen is graded AU53 by PCGS.”
When the Seated Liberty Dollars were made, for coins minted in San Francisco, the Philadelphia mint would prepare the dies and then have them sent to San Francisco to be minted. J.B. Harmstead, the coiner for the San Francisco mint, engraved an “S” on the dies when they arrived, and thus the coins were struck.
Louis Eliasberg acquired the coin from the Will Neil sale from B. Max Mehl in 1947, after Neil had purchased the coin from the Stack’s George Hall sale in 1945 for $1,450. Eliasberg later offered his holding in the landmark sale in conjunction with Stack’s and Bowers and Merena.
Frisard said that the current market for coins is robust.
“Investing in rare coins can bring true value for the client. It is part of an asset diversification strategy in a portfolio, as well as an opportunity to hold a piece of art – and history. The 1870-S Seated Liberty Dollar Eliasberg Specimen is a prime example of this,” he said.
About Stanford Financial Group
Stanford Financial Group is a privately held global network of independent, affiliated financial services companies led by Chairman and CEO Sir Allen Stanford. The first Stanford company was founded by his grandfather, Lodis B. Stanford in 1932. Stanford’s core businesses are private wealth management and investment banking for institutions and emerging growth companies.
The Stanford Financial Group of companies provides private and institutional investors with global expertise in asset allocation strategies, investment advisory services, award-winning policy and equity research, international private banking and trust administration, commercial banking, investment banking, merchant banking, institutional sales and trading, real estate investment and insurance. Stanford has over $43 billion in assets under management or advisement. Stanford Financial has made it a priority to invest in the communities in which it operates across the globe through signature corporate philanthropy initiatives with nonprofit organizations such as St. Jude Children’s Research Hospital and countless local and national charities that strengthen communities.
Securities products and services in the United States are offered through Stanford Group Company, member FINRA/SIPC. Stanford Financial Group is not a legal entity, but a registered trademark which encompasses the global network of independent, but affiliated, privately held and wholly owned entities. More information on the company can be found at www.stanfordfinancial.com. For complete inventory of numismatic rarities, visit www.stanfordcoins.com or phone 1-800-627-3015
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