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Lot
6449

1839 PS$1 J-104RES

2001 Atlanta, GA Signature Sale #267

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Auction Ended On: Aug 9, 2001
Item Activity: 8 Internet/mail/phone bidders
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Location: Atlanta, GA
Description:
Very Rare 1839 Gobrecht Dollar--PR60--Judd-104 Restrike
1839 PS$1 Name Omitted, Judd-104 Restrike, Pollock-116, R.3-4, PR60 PCGS. Die Alignment IV. (Unknown mintage; although, 300 originals are reported for 1839). The head of Liberty is opposite the space between the F in OF and the first A in AMERICA, with the eagle flying level to slightly downward after a medal turn. This coin shows evidence of having been cleaned at one time and there are several hairlines mainly present in the obverse fields and on the devices. However, overall it appears reasonably attractive for the grade with rich gray-brown and cobalt-blue toning seen mostly around the margins.
The coin shows very fine die cracks in MERI in AMERICA, AR in DOLLAR, and TE in UNITED. These cracks are typical of all 1838 and 1839 dollars made in the late 1850s. Therefore, it is believed that this coin was probably made between 1857 and 1859 under the direction of James Ross Snowden (Mint Director from 1853 until 1861). Snowden had restrikes made of several rare coins, or at least allowed them to be made by other Mint personnel. The main purpose of this restriking activity was to trade or sell the newly made coins to collectors (not telling them they were restrikes) in order to acquire coins and medals not already in the U.S. Mint Collection. Eventually a scandal occurred, involving the restriking and selling of 1804 dollars, and this brought the entire restriking efforts of Snowden to an end in 1859. Later in 1867-1869 and again in 1873-1878 under the Mint Director Henry Linderman, a few additional restrikes were made, with most ending up in his personal collection. Regardless of the number of people and Mint Directors involved in the restriking of coins, comparatively few Gobrecht Dollars, especially 1839 dollars, were ultimately made. Even when one adds the number of restrikes to that of the originals, the total number of 1839 dollars in existence today is quite small. Based on the January 2001population data from PCGS, NGC, and ANACS, a total of 73 1839 dollars have been certified in all grades, with some data most certainly representing re-grades of cracked-out and resubmitted coins.
The coin in this sale represents an excellent chance to obtain a rare 1839 Gobrecht Dollar in an affordable grade. (PCGS# 11446)

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Gobrecht Dollars
Gobrecht Dollars Illustrated by the Collection of Julius Korein

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