Coming August 30th, numismatic history will once again be made. Crossing the block in another landmark Bowers and Merena sale will be the Childs specimen of the "Original" Class I 1804 silver dollar, certified Proof-68 by PCGS, the finest known specimen by far! The next few weeks will be devoted to the mystery and historical importance surrounding this rarity. For further information on the sale or to order the catalogue featuring the 1804 dollar, click here.
Apparently, an element of cupidity entered the equation by the late 1850s during a rapid growth stage in numismatic interest. Certain Mint employees realized that the 1804-dated dollar was a rare and valuable coin indeed, and that it would be profitable to strike more examples and sell them privately, rather than in open exchange for the benefit for the Mint Cabinet.
It seems that at this time, circa the late 1850s, the reverse die used beginning in 1834 to produce earlier versions of the 1804-dated dollar could not be found, and a hitherto-unused reverse die of the same design (also made in the 1830s), but differing in minor details, was used. Coins from this new combination were made and sold secretly, although on occasion various Mint officials were all too happy to pronounce them to be genuine original coins actually made in the year 1804, if pressed on the subject. Today, these later strikings from a different die pair are known as Class II and Class III 1804 dollars. Sometimes the terminology original is used for Class I dollars and restrike for dollars of Class II and Class III.
The knowledge of the diplomatic gift sets ordered in 1834 was completely lost as was knowledge of the legitimate method of distributing the earliest-made coins, until James C. Risk startled visitors to the 1962 ANA convention by exhibiting an original 1834-made King of Siam presentation set (missing the half dime and the $2.50 without motto), including an 1804-dated silver dollar, owned by David Spink of London.
Q. David Bowers has been in the rare coin business since 1953 when he was a teenager. The author has served as president of the American Numismatic Association (1983-1985) and president of the Professional Numismatists Guild (1977-1979), is a recipient of the highest honor bestowed by the ANA (the Farran Zerbe Award), was the first ANA member to be named Numismatist of the Year (1995), has been inducted into the Numismatic Hall of Fame (at the ANA Headquarter in Colorado Springs), is a recipient of the highest honor bestowed by the Professional Numismatists Guild (The Founders' Award), and has received more "Book of the Year Award" and "Best Columnist" honors given by the Numismatic Literary Guild than any other writer. He has has written over 40 books, hundreds of auction and other catalogues, and several thousand articles.
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