Starting in 1840, Silver Dollars were issued for general circulation. This is the first year of the so called "Liberty Seated" Silver Dollars that were designed by Christian Gobrecht. The seated figure of Liberty was adopted for the obverse, but the flying eagle design on the reverse of the previous pattern coins ,referred to as the "Gobrecht" Dollars, was rejected in favor of the more familiar form with the olive branch and arrows used for the other silver denominations. This is also the "no motto" variety of this coin, which lasted from 1840-1865. This year had an extremely low mintage of 61,005 and is graded by PCGS as a VG10 condition.