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Rare and Impressive 1839 Restrike Gobrecht Dollar, PR62

1839 P$1 Name Omitted, Judd-104 Restrike, Pollock-116, R.3, PR62 PCGS. Silver. Die Alignment IV (medal turn, center of Liberty's head opposite right side of F in OF). Over the past year two significant discoveries have been made in the study of 1838 and 1839 Gobrecht dollars. The first was that Gobrecht's name was not merely omitted, it was vigorously effaced from the working hub, which was used to create the master die with stars. The second is that the striking sequence may have to be revised. Tiny, almost microscopic die cracks are present on this piece and some 1838 Gobrecht dollars. The conclusion, brought to our attention by numismatic researcher extraordinaire John Dannreuther, is that the presence of these tiny cracks probably date both 1839 and 1838 dollars to the same time period. For those with a strong loupe, these microscopic die cracks are located at the tops of the letters MERI in AMERICA.
The restrike status of this piece says much about when the coin was actually struck. Original pieces were struck from a perfect reverse die and were produced in 1839. They also lack the reflectivity in the fields that would qualify them as proofs by the standards used for Seated dollars from the 1840s. Nevertheless, the grading services still call such coins proofs. As a restrike, it is unknown exactly when this coin was struck. It has traditionally been thought that it was between 1857 and 1859. But it could have been much earlier, in the early 1840s or even in 1839--we do not know exactly when the die cracked. As one would suspect, restrikes are well preserved; in fact, our records indicate the average grade for such pieces is 60.2.
Overall, the coin appears much finer than the stated grade, undoubtedly to a great extent because of this strong mirroring in the fields. Much of the original silver is still evident on each side with irregular dabs and streaks of golden-brown and blue toning scattered over each side. The devices are fully struck throughout, and the only surface disturbance of note (other than light hairlines) are a few small contact marks below the eagle on the reverse. (NGC ID# BLY5, PCGS# 11446)

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Auction Dates
June, 2008
26th-29th Thursday-Sunday
Bids + Registered Phone Bidders: 9
Lot Tracking Activity: N/A
Page Views: 2,028

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