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The First of Two 1838 Gobrecht Dollars From the Trane Collection

1838 PS$1 Name Omitted, Judd-84 Restrike, Pollock-93, R.5-6, PR61 PCGS. Silver. Reeded Edge. Die Alignment III (head of Liberty opposite the NE of ONE). Close inspection with a loupe reveals all three of the diagnostic reverse die cracks (as struck): joining the tops of the letters TE in UNITED, MERI in AMERICA, and LAR in DOLLAR. The presence of these hairline cracks suggest that this coin was struck at the same time as the 1838 example in the following lot, and probably during the same press run. This places the striking date of this coin sometime between 1867 and 1869, or possibly between 1873 and 1878.
The exact number of 1838 Gobrecht Dollars produced in still not known with certainty. The best estimate is that of 200 pieces recently provided by Mike Carboneau and J.C. Gray. All known 1838 Gobrecht Dollars are restrikes, and virtually all were struck in Die Alignment III. They are the rarest coins of their type, being more difficult to locate than the 1836 (those struck in 1836 as well as those delivered in 1837) and 1839. We have handled only one other collection that included two representatives of the 1838 Gobrecht Dollar: the Morris Silverman Collection which sold as part of our April 2002 Central States Signature Sale.
This coin is uniformly toned in copper-charcoal shades. The strike is needle sharp in virtually all areas, but we do note trivial softness of detail on the obverse over stars 1-10 and Liberty's foot. Although a little muted, the proof finish is evident at direct angles. The toning also adequately conceals grade-defining hairlines.
From the Trane Collection. (NGC ID# BLXE, PCGS# 11352)

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Auction Dates
January, 2003
Internet/Mail/Phone Bidders: 8
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Gobrecht Dollars Illustrated by the Collection of Julius Korein

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