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Lot
3277

1836 P$1 Name Below Base, Judd-59 Restrike, Pollock-62, R.8, PR64 Brown NGC....

2010 August Boston, MA Signature & Platinum Night ANA Coin Auction #1143

 
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Auction Ended On: Aug 11, 2010
Item Activity: 8 Internet/mail/phone bidders
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Location:

Hynes Convention Center
900 Boylston Street
Boston, Massachusetts 02115

Description:

Copper 1836 Name Below Base Gobrecht Dollar
Judd-59 Restrike, PR64 Brown
Only Three Specimens Believed Known
1836 P$1 Name Below Base, Judd-59 Restrike, Pollock-62, R.8, PR64 Brown NGC. Copper. Plain Edge. Die Alignment III (head opposite the O in ONE after a coin turn). The reverse shows a heavy crack through NITED STATES O and another connecting the bottom of OLLA. At first glance, the die state of this coin appears to be the same as the Judd-58 in this collection, suggesting these two pieces were struck near the same time. However, two significant differences are noted. There is no trace of the microscopic die rust on this coin that is seen on the silver Name Below Base dollar, and the mark below the A in STATES is just barely visible on this piece. This suggests one of two possibilities. Either some of the copper strikings were produced before some of the silver ones, with enough time between them for die rust to accrue to the die, or there are two Starry Reverse dies with identical die cracks. This second possibility is not impossible, but it seems highly improbable.
Since Die Alignment IV coins have lighter reverse cracks and the cracks on Die Alignment III pieces are more pronounced, the conclusion is Die Alignment IV coins were struck first (ca. 1857-1859), and the Die Alignment III pieces were struck later (early 1860s or later; see the description under Judd-58 for more information).
It appears the planchet was split or cracked close to the edge between 12 and 6 o'clock on each side. This caused the dentils to double between strikings with the first striking appearing blobby on the inner part of the planchet crack. The diagnostics listed by John Dannreuther in his article "Gobrecht Dollars Revisited-Name Removed, Part 2," published in October 2007 and revised the following month were taken from Dr. Julius Korein's Judd-59. It is safe to assume that coin, this coin, and the PR61 examples of this rarity were struck at the same time from an advanced state of the dies.
Only three examples of the Judd-59 Name Below Base are believed known. The roster of known specimens is:

1. Scott Collection (Bowers and Merena, 6/1975), lot 1260; C. Smith of San Clemente, California; Rarities Sale (Bowers and Merena, 7/2002), lot 442, which brought $62,100; Dr. Julius Korein; ANS.
2. Haseltine (2/1877), lot 557, where it brought $20.50; probably ex: Scott (12/1878), lot 609; Parmelee Collection (New York Coin & Stamp, 6/1890), lot 26; Woodside Collection (New York Coin & Stamp, 4/1892), lot 16; 1914 ANS Exhibition; William Woodin; Waldo Newcomer; Palace Collection/Farouk (Sotheby's, 2/1954), lot 1716; Whitney P. Sunderland Collection (Bowers and Merena, 3/1994), lot 1454; Stack's (7/2008), lot 4154, unsold; Stack's (7/2009), lot 808, where it brought $201,250.
3. The present specimen. Ex: Peter Gschwend Collection (Tom Elder, 6/1908), Addenda lot C; Brand Inventory # 44161; probably ex: E.M. Wharton Collection (Stack's, 10/1945), lot 1627, where it realized $350; probably ex: Kagin's Sale # 298 (9/1972), lot 46.

Additional Appearance:

James Kelly (3/1956), lot 305, where it brought $110.


All copper Gobrecht dollars are rarities, but the Judd-59 is in the upper echelon of these highly sought after and valuable coins. It was thought for many years that only two pieces existed. This piece had been in the same collection for so many years that it had been forgotten. Those who did consider copper Gobrechts thought this coin's pedigree was tied to that of the #1 or #2 coins listed above.
Of the three known examples of Judd-59, one grades PR64 Red and Brown, a second is PR61 Red and Brown, and this third piece is the only PR64 Brown coin known or certified. The Korein coin is the PR64 Red and Brown piece, and that example is now housed in the ANS. Thus, there are only two examples commercially available to collectors and this coin is numerically three points finer than the other piece that is in a private collection. The obverse and reverse of this piece is a study in contrast. The obverse is mostly gray-brown, but there is a significant presence of mint red that surrounds the devices. The reverse has a brown-olive cast and the devices on that side show faded remnants of red, but this is difficult to discern beneath the layers of darker patina. There are no singular contact marks on either side that would aid in identifying the coin in previous catalogs. However, the crack in the planchet on the right portion of each side enabled us to trace the coin to the Wharton Sale from 1945, a feature that is evident even on the dark photo from 65 years ago.
Ex: Peter Gschwend Collection (Tom Elder, 6/1908), Addenda lot C; Brand Inventory # 44161; E.M. Wharton Collection (Stack's, 10/1945), lot 1627, where it realized $350; Kagin's Sale # 298 (9/1972), lot 46; the plate coin in The Gobrecht Dollar Book, page 88. (PCGS# 11219)

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