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Press Release - June 27, 2000

Heritage Announces Sale of Rare Gobrecht Dollar

Dallas, Texas: Heritage Numismatic Auctions, Inc. is pleased to announce their offering of an incredibly rare 1836 Gobrecht dollar as part of their upcoming Philadelphia 2000 Signature Sale. The coin is one of only three known examples of the Judd-63 Restrike, and its pedigree reads like a "Who's Who" in U.S. numismatics. "In addition to its rarity, this Gobrecht dollar is also important as a 'rediscovery' piece," noted Heritage Cataloger Jeff Ambio. "For all intents and purposes, this coin has been lost to the general numismatic community since the late 1960s. Although acquired by the present owner 20 years ago, its significance was overlooked until very recently."

The history of this Gobrecht dollar begins in the 1830s when the production of silver dollars became a reality after a hiatus of three decades. Pursuant to his predecessor's desire to improve the aesthetic merits of the nation's circulating coinage, Mint Director Robert Maskell Patterson hired the Pennsylvania-born engraver Christian Gobrecht to join his staff in Philadelphia. Working with representations of the seated Britannia figure prepared by noted artists Thomas Sully and Titian Peale, Gobrecht created his own concept of the Seated Liberty motif by early 1836. In its various forms, this hardy design would become the hallmark of 19th century United States coinage.

In November 1836, Gobrecht completed the first set of working dies for the new dollar. The obverse bore a seated figure of Liberty in a plain field with the date at the bottom. Below the portrait, Gobrecht had inserted his 'signature' in the form of the Latin phrase C. GOBRECHT. F. (C. Gobrecht Fecit), which translates literally as "Christian Gobrecht made it." The reverse depicted a majestic eagle flying within a field of 26 stars with the legend UNITED STATES OF AMERICA and the denomination ONE DOLLAR around the periphery. Toward the end of 1836, the Philadelphia Mint produced the first 18 pattern silver dollars (Judd-58) with these dies. What transpired next is now common knowledge to most numismatists. Following a reported "public outcry" about the prominence of his name in the obverse field, Gobrecht created new dies that moved his stylized signature to the base of the rock upon which Liberty is seated. When this proved inadequate to still the mounting criticism, the engraver was forced to remove his signature in its entirety from the silver dollar dies that he prepared in 1838 and 1839.

Federal authorities did not, however, destroy the original Gobrecht dollar obverse with C. GOBRECHT. F. below the base. Instead, the chief coiner locked the die in his vault, where it remained until the late 1860s. According to noted Gobrecht dollar specialist Saul Teichman, this obverse die was retrieved from the coiner's vault sometime between 1867 and 1878. Mated with the original reverse die with the eagle flying in a starry field, this obverse die produced an undetermined number of Gobrecht dollar restrikes (Judd-58). As the 18 originals that the Mint produced in late 1836 have since been lost, these restrikes constitute the sole representations of this die marriage available to today's Gobrecht dollar specialists.

More information on consigning to upcoming auctions can be obtained by contacting the Heritage Consignor Hotline at 1-800-US COINS (800-872-6467) Ext. 222, or by visiting the Heritage website at www.heritagecoin.com.

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