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Lot
2589

1836 P$1 Name Below Base, Judd-58 Restrike, Pollock-61, R.6(?), PR64 NGC....

2010 January Orlando, FL FUN US Coin Auction #1136

 
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Auction Ended On: Jan 7, 2010
Item Activity: 10 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
1836 Name Below Base Gobrecht Dollar, PR58
Die Alignment IV
One of the Classics of U.S. Coinage
1836 P$1 Name Below Base, Judd-58 Restrike, Pollock-61, R.6(?), PR64 NGC. Silver. Plain Edge. Die Alignment IV (center of Liberty's head opposite right side of F in OF). The Name Below Base Gobrecht dollar first acquired its legendary status from Edward Cogan in 1867, when he claimed only 18 pieces had been struck. There is no documentary evidence to support this low figure, and based on the number of observed specimens, it is generally believed that today fewer than 60 examples are known.
One of the curious features of the Name Below Base dollars was recently discovered by John Dannreuther. The Name Below Base dollars are actually struck from a die that had C. GOBRECHT F. effaced from the base! The die is from the same name-removed hub as the 1838 and 1839 dies. This places the striking period not in 1836, as the coin would indicate, but rather in a later restriking period. The non-appearance of an 1836 Name Below Base in the Roper Sale (1851) is significant as it further underlines these pieces were not available until several years later.
The Die Alignment IV Name Below Base dollars are significantly scarcer than their Die Alignment III counterparts. The reverse die cracks through NITED STATE and OLLA are much fainter than the same cracks seen on Die Alignment III coins. It is generally believed the Die Alignment IV coins were made in the late 1850s, rather than one of the later striking periods when Henry Linderman was mint director.
The fields on this piece have glass-like mirrored reflectivity, a finish that is certainly more consistent with a late-1850s proof striking than the finish seen on Original 1836 dollars. Much silvery-white brilliance is seen on each side next to a wide crescent of rich russet toning. Two tiny planchet flakes in the left obverse field are the only pedigree identifiers (other than the distinctive toning) that can reasonably be used to track the provenance of this piece.
The Name Below Base Gobrecht dollar is one of the classics in American numismatics, and this is one of the finest examples we have seen in recent years.
(PCGS# 11217)

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Gobrecht Dollars
Gobrecht Dollars Illustrated by the Collection of Julius Korein

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