The principal conclusions of this article are summarized as follows: 1 It is not known if any 1838 (J-84) dollars were made in 1838. We have not seen any 1838 dollar in die alignment I. There are two 1838 dollars reported in the PCGS population report as originals (J-84ORG); however, these coins may be slightly rotated die alignment III coins. It is known that some die rotation did occur for the 1838 restrikes, and this might explain the two J-84ORG coins reported by PCGS. The two PCGS certified J-84ORG coins have not been viewed or independently analyzed by the authors of this article. 2 The vast majority of 1838 dated coins exist in die alignment III. For all practical purposes, the die alignment III coins are the only collectable type of 1838 dollars in the marketplace. Some die alignment III coins have been reported with perfect (uncracked) reverse dies. However, most die alignment J-84's come with cracked reverse dies. The die cracks through the reverse legends are the same as those described for the 1839 dollars. It appears that the reverse die used for both J-84's and J-104's cracked during the restriking of the J-84's in die alignment III. This would explain why some 1838 die alignment III coins have been reported with and without reverse die cracks, and why all 1839 die alignment III coins have reverse die cracks. 3 It appears that a small number of 1838 dollars (J-84) were probably minted in 1839, and that these coins were made in die alignment IV from perfect dies. None of the 1838 dollars were deposited into commerce. Instead all 1838 dollars were held at the US Mint for special distributions and ceremonial purposes. Consequently, all 1838 dollars can be considered patterns; however, this description would not have been understood by the Mint personnel that made these coins. The total mintage of 1838 dollars in die alignment IV (made circa 1839) is estimated to be about 50. The mintage of 1838 (J-84) dollars in die alignment III is estimated to be between 150 to 200. Finally, it is very hard to locate 1838 dollars in die alignment IV. 4 There are four Gobrecht dollars in the National Coin Collection held at the Smithsonian, three of which were obtained directly from the US Mint (one of the 1836 dollars was donated to the Smithsonian from the Chase Manhattan Bank). We believe that all of the Smithsonian coins obtained directly from the US Mint Collection are original issued coins. One of the two 1836 dollars in the Smithsonian was obtained directly from the US Mint Collection. This coin is in die alignment I (Proof-60, 416.8 grains) and has the characteristics typical of an original coin. The 1838 and 1839 dollars are in die alignment IV, Proof-60 condition, and have weights of 412.8 (J-84) and 412.9 (J-104) grains, and do not have reverse die cracks. It is also interesting to note that there are no die alignment III coins in the Smithsonian Collection. 5 The circulation issue of 1839 was made in approximate die alignment IV from perfect dies (no cracks). About 200 to 250 coins were made in 1839 and dated 1839. The difference between the estimated mintage of 1839 dollars and the official mintage of 300 may be explained by the issuing of some 1838 dollars in 1839, also in die alignment IV from perfect dies. No 1839 dollars in die alignment I coins have been observed. 6 There are perhaps 150 to 200 of the 1839 dollar restrikes that were made in the 1850's and 1860's. Some of these coins were made in Die Alignment IV while others were made in Die Alignment III. It is not known why there was a switch from Die Alignment IV restirkes to Die Alignment III restrikes. Most restrikes have very faint die cracks through the top of the letters MERI, sometimes through the top of the letters TE, and sometimes through the bottom of the letters LAR. All die cracks are very faint and usually require good magnification to see. Depending upon the location of the light source, these die cracks are even difficult to observe with a microscope. Combining the number of original 1839 dollars made in 1839 with the number of restrikes made, we obtain a total estimated mintage of about 400. Finally, it is not known why Die Alignments III and IV were used for 1839 J-104 restrikes, but only Die Alignmnet III was used for the 1838 J-84 restrikes. Acknowledgments The authors would like to thank everyone that participated in our Gobrecht dollar surveys. We would also like to thank, Richard Doty and Douglas Mudd at the Smithsonian Institution (for the information on the Gobrecht dollars held at the Smithsonian), Saul Teichman (a noted expert on pattern coins including Gobrecht dollars), John Pack and Andrew W. Pollack III (for information on Gobrecht dollars appearing in many Bowers and Merena Auctions), Mark Van Winkle (for information on Gobrecht dollars appearing in the Heritage Auctions), Dr. Julius Korein (who sent in information on a number of Gobrecht dollars that appeared in the New York area), Duncan Lee (for his information on 1838 dollars), Scott Mitchell of Stack’s (for data on Gobrecht dollars appearing in the Stacks’ auctions), and Karsen M. Roberts (for his special assistance to Mike Carboneau on this project). References 1. Michael L. Carboneau and James C. Gray, “Gobrecht Dollars Revisited - Part I - The Issue of March 1837”, The Gobrecht Journal, Volume Twenty Seven, Issue #79, November 2000, pages 3-14. 2. Copyright Heritage Capital Corporation (or Heritage Numismatic Auction Inc.- HNAI), Heritage Plaza, 100 Highland Park Village, Dallas, Texas USA 75205-2788. All Rights Reserved by HNAI on their photographs. No reproduction is permitted without prior written authorization. Permission to reproduce Heritage Numismatic Auction Photos for this publication was granted by Mark VanWinkle at Heritage Corporation to Mike Carboneau on October 22, 2000. 3. Copyright Smithsonian Institution, NNC, Douglas Mudd. All Rights Reserved by the Smithsonian on the photographs of the four Gobrecht dollars in their collection. No reproduction is permitted without prior written authorization. Permission to reproduce the Smithsonian photos in this publications was granted by Douglas Mudd at the Smithsonian Institution to Mike Carboneau on July 5, 2001. 4. James C. Gray, “Gobrecht Dollars”, Issue #37 - November 1986, The Gobrecht Journal, Collective Volume Number Three, Published by the Liberty Seated Collectors Club, 1991, pages 395-401, and the following article on pages 402-407. 5. Walter Breen, The Secret History of the Gobrecht Coinages 1836-1840, The Coin Collector’s Journal Sept.-Oct., Nov.-Dec., 1954, Published by Wayte Raymond Inc, Vol. 21, No. 5&6. 6. Q. David Bowers, Silver Dollars & Trade Dollars of the United States A Complete Encyclopedia, Volume 1, Published by Bowers and Merena Galleries Inc., 1993, Chapters 7 and 8 (pages 495-534). 7. The PCGS Population Report, January 2001, Published by the Professional Coin Grading Service, PO Box 9458, Newport Beach, California, pages 89, 166, and 167. 8. Prepared under the direction of the Director of the Bureau of the Mint, Catalogue of Coins, Tokens, and Medals, Second Edition, Government Printing Office, 1913, pages 13, 18, 89, 90, and Plate VII (Photo No. 1 showing the 1836 dollar in the US Mint Collection). 9. Andrew W. Pollock III, United States Patterns and Related Issues, Published by Bowers and Merena Galleries Inc., pages 30-33, 39-40, 44-45, 398-399. 10. Personal communication with Richard Doty at the Smithsonian Institution, National Coin Collection, coin alignment, Judd number, coin weight, and grading estimates concerning the Gobrecht dollars residing in the Smithsonian collection, February 13, 1996. 11. Personal communication with Doug Mudd, Collection Manager of the National Numismatic Collection, Gobrecht dollar alignment details for the four dollars in the Smithsonian Institution and color photographs of these coins with permission to publish, July 5, 2001. Go back to Soaring Eagle Theory