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.
To reiterate, in due course alert numismatists noticed that the 1804 silver dollar existed with two different reverse die varieties. The variety now known as Class I, and described below, became known as the "original." Those of the other variety (Class II and III below) were called "restrikes." The supposition was that the originals had been struck in 1804 plus, if someone remembered Woodward's account, a few in 1834. The others, which first came on the market at a later date, were supposed to be restrikes, but little was said as to their maker or time of striking. The Mint took the official position (having also forgotten its own history) that all 1804 dollars were made in calendar year 1804.
Today, the varieties of 1804 silver dollars are classified as follows:
Class I 1804-dated dollars: Reverse die with E in STATES over a cloud. "Original" dollars of the first type, first officially coined in 1834 for diplomatic presentation purposes. Eight specimens are known to exist, several of which are in museums. The presently offered Sultan of Muscat presentation coin is a Class I "original." All of these are on early (pre-1837 standard) 416-grain planchets.
Class II 1804-dated dollars: Reverse from a different die, with E in STATES over junction between two clouds. Plain edge. "Restrike." Made in 1858. Five said to have been made, three melted, one unaccounted for. Only one is known, struck over a Swiss dollar-sized silver coin. In the National Coin Collection in the Smithsonian Institution.
Class III 1804-dated dollars: Reverse die as preceding. "Restrike." Lettered edge. Made circa late 1850s onward, last date of manufacture unknown, but possibly into the late 1860s or early 1870s. Six specimens are known to exist. Kenneth E. Bressett holds the opinion that all were made in 1858. These seem to have been sold privately by certain Mint officials, sometimes through Philadelphia dealer Captain J.W. Haseltine, who seems to have had certain connections. Most of the Class III dollars were "laundered" by artificially wearing down the surfaces to give the illusion that they had been placed in circulation in 1804! Some were given fanciful pedigrees as well. All are on later (412.5 grain) lighter weight planchets.
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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