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Lot
6571

1836 PS$1 J-60RES

2001 April Indianapolis, IN (CSNS) Signature Sale #256

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Auction Ended On: Apr 6, 2001
Item Activity: 10 Internet/mail/phone bidders Number of Bidders
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Description:
Rarely Seen 1836 Gobrecht Dollar Restrike
1836 PS$1 Name on Base, Judd-60 Restrike, Pollock-65, R.5, PR 60 PCGS. Die Alignment III. This piece represents a Die Alignment III specimen (head of Liberty opposite the NE of ONE; in other words, coin-turn with the eagle level). Current research indicates that all (or nearly all) Judd-60 Die Alignment III coins were made during one of three different time periods. The first Judd-60 Die Alignment III restrikes were made during James Ross Snowden's tenure from 1858 to 1859. These restrikes are found with minute (light to very light) die cracks through the reverse letters NITED STATES OF. The second set of restrikes were made from 1867-1869 during Henry Linderman's directorship of the U.S. Mint. These restrikes (also in Die Alignment III) show strong and extensive reverse die cracks, but no obverse die rust. From May 1869 to March 1873 James Pollock was in charge at the U.S. Mint and restrikes of Gobrecht dollars were probably not made during this time. However, Henry Linderman was in charge again from April 1873 to December 1878 and a third set of Judd-60 Die Alignment III restrikes were probably produced during this time period, many of these coins ending up in his own personal collection. The third set of Judd-60 Die Alignment III coins show extensive reverse cracks and die rust marks in the left obverse field (to the left of Liberty's head).
The total number of Die Alignment III coins that were produced during all three time periods is estimated to be about 100 pieces (see "Gobrecht Dollars Revisited" published in The Gobrecht Journal, Volume 27, Issue # 79, page 12). Most Gobrecht dollar restrikes are probably still in existence since none of these coins were intentionally placed into circulation (e.g., they were sold or traded to collectors and the survival rate is expected to be higher than the original issues); however, the Die Alignment III coins do represent a rare subset of Gobrecht dollars, with the Die Alignment I and IV coins far more plentiful. The current coin was probably made during the time period of 1867-1869, some 31 years after the original coins were issued.
The obviously cleaned surfaces are really quite attractive and the hairlining is not heavy or too distracting. The fields are deeply reflective and overall the piece presents as brilliant although a light bit of patina is present.
From the Richard Weiss Collection. (PCGS# 11227)

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Gobrecht Dollars
Gobrecht Dollars Illustrated by the Collection of Julius Korein

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