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Heritage World Coin Auctions
FUN Signature US Coin Sale 1251  4-6 & 8-9 Jan 2017
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Lot 5690

Starting price: 1 USD
Price realized: 75 000 USD
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Gobrecht Dollars
1838 P$1 Name Omitted, Judd-84 Restrike, Pollock-93, R.5, PR64 PCGS. CAC. Silver. Reeded Edge. Die Alignment III (head of Liberty opposite the NE of ONE; or equivalently, coin-turn with the eagle flying level). Almost all 1838 Gobrecht dollars are restrikes. To date, only two Originals have been confirmed. The early restrikes were apparently made on order of Mint Director James Ross Snowden as trade material for Washingtonia lacking in the Mint Collection. The historical record and emission sequence that has been established recently, shows that Judd-84 Restrikes were struck in three fairly distinct striking periods. The Early State Restrikes were struck circa June 1859 to 1863, Middle State Restrikes were coined circa 1863-1864, and the Late State Restrikes were produced circa 1867 to 1869.
Restrikes are known in Die Alignment III (as seen here) and Die Alignment IV. As with almost everything Gobrecht-related, the telltale signs of Original vs. Restrike as well as striking period for Restrikes is a matter of minutiae -- requiring strong magnification, access to up-to-date information, and patience. The first thing we know from close observation of this piece is it cannot be an Original because of the fine die rust seen on the eagle's beak and peripheral reverse lettering. Another pick-up point is the small cluster of fine die rust seen in the obverse field out from the forearm and thigh of Liberty. Further examination reveals this is a Late State Restrike as indicated by the extensive die lapping on the top of the rocky base, reducing it to a couple of dots. On the reverse, there is a faint die crack that extends from the second dentil over the T to the left upper serif of the E in UNITED.
The fields of this piece are deeply reflective, as seen on all Restrikes. Each side is evenly covered with subtly variegated lilac and rose patina of considerable beauty. The overall strike is pinpoint-sharp with only the left stars on the obverse showing any central softness. There are no contact marks present that bear mentioning. Fewer than 100 Die Alignment II dollar are believed to have been produced. This is one of the finest examples known of this rarity.
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