1839 Gobrecht Silver Dollar. Name Removed. Judd-104 Restrike, Pollock-116. Rarity-3. Silver. Reeded Edge. Die Alignment IV. Proof-61 (PCGS).This is an otherwise untoned example with wisps of pale reddish-gold iridescence confined to isolated peripheral areas. Universally reflective in finish, a feature that remains pronounced despite light hairlining that points to a cleaning and, by extension, explains the Proof-61 rating from PCGS. Sharply to fully struck, as well, and desirable as an example of one of the United States Mints scarcest and most challenging silver dollar types. A shallow reverse scrape at the letter E in AMERICA and the eagles adjacent wing tip is noted for accuracy. DTS Late State Restrike.<p>The original 1839 dollars, coined in the last week of that year, "are in Alignment IV, have weak mirrors, more [semi-prooflike] than fully [prooflike], and typically come with a weakly struck foot," according to <em>gobrechtdollars.com</em>, a website built by John Dannreuther, Saul Teichman, and Craig Sholley. Restrikes, by contrast, show "a strong mirror from polishing" and are better struck, "generally with a fully struck foot." Restrikes are "also rather easily distinguished from originals by the very granular (rusty) letters and eagle," according to their study of the issue. This specimen shows the granular texture within the eagles beak, as well as somewhat truncated letter forms from extensive polishing. The die line above the letter T in UNITED is very bold and all cracks are virtually absent, largely polished away in this state. The abuses of James Ross Snowdens administration of the Philadelphia Mint provoked a clamor for change, as collectors realized that many coins they had cherished were still being restruck for well-connected dealers. From the initial program to trade restruck rarities for Washington medals to stock Snowdens cabinet at the Mint, the restriking policy spun out of control, resulting in an edict from Mint Director James Pollock in 1866. The Pollock circular letter stated that restriking backdated pieces was no longer acceptable, no coins or patterns could be struck in off metals, and the Mint would sell only current issues to collectors. The circular letter also fixed the prices for patterns and Proof sets and ordered that all money received would be "part of public money," as Mint employees "are expected to refrain from dealings in this line, or affording aid to friends or dealers outside."<p>Pollocks rules were ignored, certainly after he left his position in 1866 and likely before. When Henry R. Linderman took his place in 1867, he fully availed himself of not only the opportunity to strike anything he wanted for his own collection, but also to continue the practice of striking special items for others for profit. Unusual mulings, new dates in obsolete series (like the 1868 large cent), and off metal strikings of old favorites became the norm, continuing even after Lindermans 1879 death and into the superintendence of A. Loudon Snowden.<p>Two major varieties of silver 1839 Gobrecht dollars with the starless reverse were produced: reeded edge Judd-104 and plain edge Judd-105. Judd-107 was struck from the same dies in copper, while Judd-108 (silver) and Judd-109 (copper) were struck during the Linderman era from the 26-star reverse like the one used in 1836. Judd-107 and Judd-109 are both unique, and Judd-108 is extremely rare, with just three specimens known. Though specimens of Judd-104 are somewhat more numerous, they are scarce in an absolute sense, and quite rare from a market availability standpoint.From the E. Horatio Morgan Collection. Earlier from our (Stacks) session of Auction 87, July-August 1987, lot 783.
