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Description

Spectacular 1838 Gobrecht Dollar, PR64 PCGS, Ex: Silverman

1838 PS$1 Name Omitted, Judd-84 Restrike, Pollock-93, R.5-6, PR64 PCGS. Silver. Reeded Edge. Die Alignment III. This coin was previously offered as lot 4025 in our April 2002 sale of the Morris Silverman Collection, where it was cataloged as: "Several lint marks, commonly found on early proof dollars, are evident on the obverse. Light hairlining is seen on each side, but these are well within what is expected for the PR64 grade. Fully struck throughout, each side is lightly toned. Although the fields are a bit hazy, the proof surfaces flash through the toning when held at certain angles. Classified as a 'restrike,' this term seems superfluous as it appears that all 1838 dollars that exist today are restrikes. No 'original' 1838 dollar has been authenticated in recent memory, and it is believed by some numismatists that no 1838 dollars were actually struck in 1838. If this is correct, then all 1838 dollars are restrikes.
"The reverse of this coin shows the three normal diagnostic die cracks. These cracks can be observed, under high magnification, through the tops of the letters MERI (of AMERICA), TE (of UNITED), and the base of the letters LAR (of DOLLAR). The presence and size of these die cracks, when compared with other Gobrecht dollars struck with the same reverse die, indicate that this piece was probably made during one of [Mint Director Henry] Linderman's two terms of office. Most Gobrecht dollar restrikes are known to have been made between 1857 and 1860 (during Snowden's term of office), or from 1867 to 1869 (during Linderman's first term), or from 1873 to 1878 (during Linderman's second term as U.S. Mint Director). This particular coin...appears to be a later restrike made by Mint personnel for private purposes or personal gain.
"Most numismatists believe that the 1838 dollars are patterns; however, this is an interesting thesis since no 'original' (Die Alignment I) Judd-84 dollars were probably made. Certainly, no 1838 dollar in Die Alignm (NGC ID# BLXE, PCGS# 11352)


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Auction Info

Auction Dates
April, 2006
6th-7th Thursday-Friday
Bids + Registered Phone Bidders: 7
Lot Tracking Activity: N/A
Page Views: 3,427

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Gobrecht Dollars Illustrated by the Collection of Julius Korein

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