Q. David Bowers
Proofs:
Obverse: Figure of Liberty seated on a rock, C. GOBRECHT F. on base. No stars in field.
Reverse: Eagle flying onward and upward in starry field. Plain edge. Perfect dies; no cracks. Tiny raised line or die defect in field to left of lower part of A in DOLLAR and another from top of eagle's wing on some issues (not on Christian Gobrecht's personal specimen; cf. Bowers and Merena sale of the Witham and Sansoucy Collections, September 1992, Lot 1419). Authorized weight: 416 grains. 1,000 struck. Delivered December 31, 1836. 600 were deposited in the Bank of the United States (Philadelphia) and went into circulation. 400 remained at the Mint for presentations and small orders (per R.W. Julian). About 60% to 70% of the known specimens are of this variety. Most surviving pieces (about 85%)1 show signs of wear or contact sufficient to merit a grade below Proof-60. At the same time, most high-grade Proofs of 1836 Gobrecht dollars are apt to be of alignment I (more were saved as souvenirs and by collectors than of alignment IV), even more than allowed for by the total population estimate. For estimated rarity, see Summary of Characteristics below.
One, formerly the property of President Andrew Jackson, was sold by Bowers and Mereria in the Brilliant-Sieck Collections Sale January 1992); and another, Christian Gobrecht's personal specimen accompanied by extensive documentation, was auctioned by the same firm the September 19.92 sale of the Witham and Sansoucy Collections. .
1a. Die alignment I. As preceding, but coined to the standard of January 18, 1837, of 412.5 grains. Time of striking after implementation of the Act of January 18,1837. A few have been reported (per Andrew W. Pollock III); 5 to 8 known? (URS-4)?
2. Die alignment II. Restrike: Breen"5413; Julian-4.Authorized weight 412.5 grains; unworn specimens vary slightly up to plus or minus a grain. Issue date not known, but after implementation of the Act of January 18, 1837, and before restrikes were made from the later-cracked reverse die (see alignment III, below). Studies by Andrew W. Pollock III, James C. Gray, and others suggest a limited mintage in the range of several dozen coins (in contrast to the 600 some believe were minted). (R.W.Julian believes that these were struck during the last week of March 1837, and included in the delivery of March 31,1837. He believes that die alignment IV pieces were not struck in 1837. Letter to the author, August 7, 1992.) Struck from uncracked reverse die. Usually seen without evidence of circulation; nearly all have been Proof-60 or finer, indicating that they were struck for collectors; an early restrike (certainly made prior to die alignment III, described below). Cf. Lot 1753 of the Somerset Collection, Bowers and Merena, June 1992. (The conventional view (with which the author does not agree) is that 600 were delivered on March 31, 1837, and that most if not all were put into circulation, and most seen today show signs of wear. R.W. Julian is an advocate of the conventional view.) Estimated 20 to 40 known (URS-6).
3. Die alignment III. Restrike: Breen-5414,Julian 11. Restruck, possibly 1858-1860 and/or 1867-1869. Weight: 412.5 grains, but apt to vary considerably. The repunching on 83, clear on originals, gradually fades out. Later impressions are from repolished dies. Reverse develops cracks through DOLLA (but faint at the D) and NITED STATES O. Earlier restrikes have a raised line from upper edge of wing pointing between A and T of STATES. Later restrikes, made after the reverse die was repolished, no longer show the line pointing between A and T, but do show another line from upper edge of wing pointing to 0 in OF. In this die state both die cracks are longer and plainer than on earlier restrikes. Very rare; nearly all Proof-60 or finer. Estimated 20 to 40 known (URS-6).
4. Die alignment IV. Second original. Issue of March 31, 1837: Breen-5414, Julian 12. Weight 416 grains; struck on planchets prepared before implementation of the Act of January 18, 1837. (Also see 4a below.) Probably included in the delivery of 600 pieces on March 31, 1837; if so, they would have been struck during the immediately preceding week, as the March 31 report covers only a one-week span. Reverse struck from uncracked die. Nearly always seen with.signs of wear, indicating that they were made for circulation. High grade Proofs are rarer than alignment I. For estimated rarity, see Summary of Characteristics below; about 30% to 40% are of die alignment IV. Very few high grade Proofs exist.
4a. Die alignment IV. Second original. Issue of March 31, 1837. As preceding, but struck on a 412.5 grain planchet prepared after implementation of the Act of January 18, 1837.
Note concerning weights of die alignment IV coins: Actually, observed weights have been in a continuum between 412.5 and 416 (with slight allowances for wear in instances of circulated coins), and it is evident that while some coins were probably struck on 416 grain planchets and others on 412.5 grain planchets, many were struck on planchets of intermediate weight, with actual examples of unworn coins including 416.6,415.2 grains, and 413.4 grains.
Note concerning the metallic fineness of dollars: R.W. Julian states this: (Letter to the author, August 7,1992. Further: "Weight variations merely confirm [that] rejected planchets [may have been used].") "The legal tolerance for silver coinage, under the Act of 1837, could fall as low as .897, and the 1792 standard could be nearly that high. It should also be noted that silver coins vary in fineness from point to point. When ingots were prepared by the Mint it was necessary to keep the overall fineness under .900 because the center of the ingot, from which the blanks were punched, ran higher. This is explained in the 1896 Mint Report."