1846

At 31,300 pieces, the 1846 dime carries the lowest Philadelphia mintage in the entire Stars With Drapery era and one of the smallest production figures in the series overall. The Mint struck the issue with no documented procedural explanation in surviving correspondence for why output fell so dramatically below the 1,755,000 pieces of 1845 or the 245,000 pieces that would follow in 1847. Whatever the operational reason, the result is a coin that left the Mint in genuinely small numbers and circulated heavily through the late 1840s before the silver-export pressures of the early 1850s further reduced the surviving population. The Semi-Key classification reflects that combined arc: a tiny original mintage, heavy commercial attrition, and a survival rate that runs thin in every grade band above About Good.

Strike quality on the 1846 generally arrives better-defined than the higher-mintage Philadelphia issues of the period, with the limited output allowing reasonably full Liberty head detail and crisp wreath leaves when the dies were fresh. The catch is that most surviving examples show heavy circulation wear that obscures the original strike character entirely, and grading consequently centers on surface preservation and rim integrity rather than central detail. Mint State survivors exist in single digits at the major grading services and almost never reach Gem; certified populations cluster at MS-62 and MS-63 with original cartwheel luster commanding strong premiums. Authentication is the central acquisition discipline. The price spread between the 1846 and the adjacent 1845 or 1847 is wide enough to make date alteration a real concern, and verification requires careful microscopic examination of the final digit for tooling, raised metal, or broken serifs, combined with the pre-Arrows weight of 2.67 grams and the standard reeded edge. Wiley-Bugert catalogs a small number of die marriages with light date repunching on certain working dies; none has risen to separately-priced major-variety status, but the variety-level scarcity multiplies the date-level scarcity for specialists.

For collectors building a Seated Dime date set, the 1846 is a coin to acquire in problem-free Very Good or Fine when budget allows, properly authenticated and ideally certified by a major grading service. Higher-grade survivors are real events and reward patient bidding rather than impulsive purchase. The Semi-Key classification accurately reflects the issue's position in the series: one of the harder dates to fill without venturing into the recognized absolute keys like 1838-O or the Carson City rarities that come later in the run. For the broader story of Gobrecht's design and the series' production arc, see the Seated Liberty Dime series history.