1836 $1 J-58, Gobrecht Restrike PR(PCGS#11217)

Spring 2019 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1087

等级

PR64

价格

804,368

详细说明

Legendary 1836 Name Below Base Gobrecht Dollar 1836 Gobrecht Silver Dollar. Name Below Base. Judd-58 Restrike, Pollock-61. Rarity-6-. DTS Die State D. Silver. Plain Edge. Die Alignment III. Proof-64 (PCGS). A wonderfully original, exceptionally attractive example of this fabled Gobrecht dollar type. The obverse is brilliant in the center with splashes of sandy-silver and golden-orange patina encircling the periphery. The more extensively toned reverse exhibits vivid golden-apricot, powder blue and pale pink undertones to dominant sandy-silver and olive-russet patina. Smartly impressed with razor sharp design elements, the devices are also modestly satiny in texture and contrast appreciably with mirrored fields. Due to its brilliant center, the obverse exhibits particularly pronounced reflectivity in the field. Carefully as well as originally preserved, both sides are predominantly smooth in hand and temptingly close to an even higher grade. The origin myth that Philadelphia dealer Ed Cogan recounted in the pages of the American Journal of Numismatics, suggesting that this was the original Gobrecht dollar design, stuck with this issue for more than a century. The real story is very nearly the opposite, as modern research has shown the obverse of this popular rarity to be the last of the Gobrecht dies created. It likely was sunk about 1858, using the central device punch from Judd-60, the Name on Base type, from which Gobrecht's name was eventually effaced. The name was placed in the field below the central design to create this new Name Below Base variety, tailor-made for contemporary collectors. After Ed Cogan wrote about this type, word spread that just 18 specimens were struck, and dollar specialists have considered this a prime rarity ever since. Although the obverse still appears fresh and new, the reverse reveals several prominent cracks suggesting that the die was nearing the end of its useful existence when this coin was produced. A long crack connects the tops of the letters NITED STATES O, while a more delicate crack joins the bases of the letters OLLA in DOLLAR. A very light crack crosses the denticles above OF AME, and a short spur of a crack extends from the wing pointing to the letter O in OF. The presence of some very subtle spalling eruptions, including one between the bottom serifs of the letter A in STATES, along with a die line within the letter U in UNITED, identify this as Die State D, as defined by John Dannreuther, Saul Teichman, and Craig Sholley. This attribution helps to confirm that this variety was first struck during the late 1850s and, indeed, the first offering at public auction was in 1859. Specimens were struck through the 1860s, when demand for rare patterns reached a fever pitch and the executives of the United States Mint were happy to create a supply. The numbers distributed, however, were almost certainly limited as this was essentially a made-to-order delicacy for collectors. Today, the Name Below Base Gobrecht dollar continues to intrigue numismatists, the beauty of the design, its mythical origin and the rarity of specimens all combining to create a must-have coin for the advanced collector. With examples usually appearing on the open market only once in a long while, the significance of this offering can hardly be overstated. Provenance: From the Greenway Collection. Stack's paper envelope included. PCGS Population: 3; 4 finer (Proof-65+ finest). PCGS# 11217. Click here for certification details from PCGS.