LOT Heritage Rare Coin Galleries  /  2004 June Long Beach Signature Sale #349 - Sessi...  / 

6117

1839[PS$1] Name Omitted, Judd-104 Original, Pollock-116, R.3, PR63 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1839[PS$1] Name Omitted, Judd-104 Original, Pollock-116, R.3, PR63 PCGS.
<B>1839<PS$1> Name Omitted, Judd-104 Original, Pollock-116, R.3, PR63 PCGS.</B></I> Silver. Reeded Edge. Die Alignment IV, "original" issue of 1839. The head of Liberty is nearly opposite the F in OF, and therefore is in Die Alignment IV orientation. A full figure of Liberty, with pole and shield, is the main design element on the obverse. The 26 stars that had been placed on the reverse of the 1836 dollars have now been removed, and 13 stars are now seen around the figure of Liberty on the obverse. A majestic flying eagle (symbolizing the United States) adorns the reverse surrounded by the legend UNITED STATES OF AMERICA and the denomination: ONE DOLLAR.<BR> This coin has been identified by PCGS as an "original;" that is, a coin that was made in 1839. This new classification methodology adopted by PCGS is consistent with the latest information published in the "Red Book." However, not all Die Alignment IV coins are originals, but all originals are in Die Alignment IV. Those coins that exhibit a microscopic die break through the top of MERI are normally associated with restrikes (including both Die Alignment III and IV coins). Likewise, those coins in Die Alignment IV with a perfect (uncracked) reverse die are believed to be the originals from 1839 (and are usually found in low grades). The present coin is attractively toned on both sides with subtle gray, golden, and lilac iridescence and strong reflectivity in the fields. The devices also exhibit an excellent strike on each side. Only 300 1839 dollars were reported to have been made in 1839, and an unknown number of restrikes were struck after 1857 to meet collector demand at that time. All of the 1839 dollars made in 1839 are thought to have been deposited into the US banking system. Therefore, by default, the Gobrecht dollars issued 1839 dollars are regular issued coins (even though they were struck in proof format). Although considered a rare coin today (in fact rarer than 1794 dollars), we are very fortunate to have three 1839 dollars to choose from in this sale. The present coin is an attractive specimen that should fit nicely into any high grade collection that includes regular issued US dollars. As previously noted, all Gobrecht dollars are assigned Judd numbers, suggesting that these coins are patterns. However, this conclusion is not correct. In fact, the Gobrecht dollars made in 1836, 1837, and 1839 are regular issued coins, and therefore are not patterns. Nevertheless, for historical reasons, it appears that these coins will continue to be incorrectly identified as patterns. The only real Gobrecht dollar pattern coins are the Judd-58 (name below base) and the J-84 (1838 dollar). Gobrecht dollars represent a short, 3-year series, with two different "types" of coins. The first type consists of the issue of 1836 with the no-star obverse design, and the second type includes the 1838 and 1839 dollars with obverse stars but no reverse stars. Another interesting observation is that Gobrecht dollars are the only Proof coins intentionally made for general distribution. Gobrecht dollars are one of the most fascinating and yet confusing series of silver dollars ever made by the US Mint. Due to the small number of 1839 dollars that exist today, very few coin collectors will ever own an 1839 Gobrecht dollar. The current coin certainty represents a high grade example that should please most collectors. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid.
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