Jeff Garrett: The Most Misunderstood Coin – Gobrecht Silver Dollars (1836-1839)

At first glance, many would think that the Gobrecht Silver Dollar series would be rather simple to understand. The coins are dated 1836, 1838 and 1839. How hard could that be? It is, however, one of the most complicated and least understood of all US coinage issues.

Even the most basic reason for the coin’s existence is questioned by many experts. Some consider this series to be pattern or experimental coinage, but this is not true, as over 1,000 1836-dated coins were struck and many of these clearly entered circulation. (Quite a few can be found with extensive wear or damage.) This series is indeed very complicated and even most rare coin experts only have a cursory knowledge of them. I will attempt to simplify and explain the many different variations of Gobrecht Silver Dollars so that you may appreciate and have a better understanding of these great coins.

American Silver Dollars were first struck in 1794, having been authorized by an act of Congress on April 2, 1792. Weight and fineness were specified at 416 grains and .8924 fine silver. The first type of Silver Dollar struck was the Flowing Hair issue of 1794 and 1795. A 1794 Silver Dollar made international headlines when it was sold at auction for over $10 million dollars in 2013. Another 1794 Silver Dollar shattered the record again when it sold for $12 million dollars in 2020.

Draped Bust Silver dollars were struck from 1795 to 1803. Mintage records for 1804 show that 19,570 Silver Dollars were struck that year. It was common practice in those days to use dies, as long as they were serviceable, and it is likely that all Silver Dollars struck in 1804 were actually dated 1803. The famous Silver Dollars of 1804 were actually struck decades later for presentation purposes.

The production of Silver Dollars was suspended in the United States starting in 1806. President Thomas Jefferson's order to stop dollar production was in 1806, thus dollars were struck in 1804 and 1805. The demand for American Silver Dollars was met in large degree by the Spanish 8 reale (the equivalent of the U.S. Dollar), also called a piece of eight. These coins circulated widely in the United States and are often found along with American coinage in any shipwreck or hoard find of the period.

In 1835, Mint Director R.M. Patterson ordered engraver Christian Gobrecht to create dies based on the designs of Thomas Sulley and Titian Peale. After some experimentation, dies were created for the first issue of Gobrecht Silver Dollars. Gobrecht Silver Dollars fall into three basic categories: Circulation and Original Issues, Patterns and Restrikes.

The coins are also struck in either a coin turn orientation or a medal turn orientation. This means that when the coin is turned over, the eagle is either right side up (coin turn orientation) or upside down (medal turn orientation). To further complicate matters, Gobrecht Silver Sollars are found with two basic die alignments. The die alignment means that when the coin is turned over, the eagle is either seen flying upward or level. As I stated earlier, Gobrecht Silver Dollars are a complicated issue!

Circulation and Original Issues

1836 C. GOBRECHT F. on base
No stars obverse, 26 stars in reverse fields, plain edge 416 grains
Die alignments — eagle flies upward, coin turn, eagle flies level coin and medal turn (alignment I, II and IV are Originals). All these alignments are with the uncracked reverse and are obviously Originals.)
Judd-60

In December 1836, the United States Mint struck 1,000 coins for circulation. The coins weigh 416 grains, which was the standard as enacted in 1792. These coins are dated 1836, with C. GOBRECHT F. (F is an abbreviation for the Latin word Fecit, or "made it," and is found on the base of the rock on which Miss Liberty is seated). Most of these coins are struck with the traditional coin turn.

These coins clearly entered circulation, as many are found in worn condition. High-grade examples are scarce and sought-after. Quite a few are found damaged, with holes repaired and other signs that the coins were used as jewelry for their novelty. Many consider these to be the most desirable Gobrecht Silver Dollars, as the coins are very rare for a circulation strike U.S. coin.

1836 C. GOBRECHT F. on base
No stars obverse, 26 stars in reverse fields, plain edge 412.5 grains

In January 1837, the standard weight for Silver Dollars was lowered to 412.5 grains, and 600 pieces were struck in March 1837. This is not Judd-61, as J-61 is the reeded edge example that currently is unique and is a late state example.

However, it is possible that this coin is one of the ones struck in March with the rest melted. This is one theory, as it is a late state of the reverse and the complaint against the J-60 coins struck in 1836 were that they were "too medallic" in appearance. They complained about the "smooth" edge, so it is possible that J-61 was one of the ones struck in March 1837, as its weight is correct.

1839 C. GOBRECHT name removed from base
Stars added to obverse, reverse with eagle flying in plain field
Die alignment – eagle flies level, medal turn
Reeded edge
Judd-104

In 1839, the United States Mint struck 300 Silver Dollars. Gobrecht Silver Dollars dated 1839 are also found in circulated condition, often with damage as well. As can be seen from the very low mintage, these coins are very rare and quite desirable.

Pattern Issues

1838 C. GOBRECHT name removed from base
Stars in obverse fields, reverse with eagle flying in plain field
Die alignment – eagle flies level, coin turn and eagle flies level, medal turn
Reeded edge
Judd-84

This issue was struck in very limited numbers and is considered a pattern. The 1838 issues are among the rarest of the Gobrecht Silver Dollars struck from 1836 to 1839. All examples known are Proofs and are generally seen in high grade. Only 20 to 30 are known to exist, and I know of only three Originals — the Smithsonian example, and two others.

Restrikes

After Large Cents were eliminated in 1857, there was a tremendous increase in the number of coin collectors in the United States. Collectors attempted to buy as many different dates of the discontinued Large Cents as possible. Many moved to more advanced numismatic pursuits, and coin collecting had its first boom. 

The American Numismatic Society was formed in 1858, and by 1859, rare coin auctions were a regular occurrence. One of the centers of the numismatic world in the 1850s was in Philadelphia. The United States Mint employees from that era would occasionally dust off old dies and strike rarities to meet the demand of the new collectors. A tidy profit could be made by creating a new rarity or restriking an older issue. 

As mentioned above, the famous 1804 Silver Dollars were created in this manner. (The Restrike 1804 Dollars were created this way, but the Originals were struck in 1834 and 1835 under official orders, so they are Novodels — coins struck from dies similar to the Originals, as the head punch and eagle punch are original, but the lettering, stars and numerals are from 1834. The 1804 Proof eagle is a Restrike, as it was struck from original dies, both obverse and reverse.) The coins are indeed Mint issues, but were struck as special orders for collectors.  

Gobrecht Silver Dollars must have been quite popular with this new band of coin collectors, as quite a few were produced from the 1850s to the 1870s. Exact dates and mintages of production are unknown. Rarity of these special coins is gained by knowledge of known examples. All known Restrike Gobrecht Silver Dollars are from a cracked reverse die. The crack is tiny, but it is one of the diagnostics of the Restrike issues. 

1836 C. GOBRECHT F. on base
No stars obverse, 26 stars in reverse fields, plain edge 412.5 grains
Die alignment – eagle flies upward, coin turn, eagle flies level coin and medal turn (alignment I, II, and IV are Originals). All these alignments are with the uncracked reverse and are obviously Originals.)
Judd-60

The restrikes for alignment III are actually quite rare, with less than 20 coins known in existence. There was not as much demand for restrikes of the Judd-60, due to the relatively large mintage of the 1836 originals.

1836 C. GOBRECHT name below base
Stars in obverse field, plain edge
Die alignment – eagles flies level, coin turn and eagle flies level medal turn
Judd-58

Judd-58 Gobrecht Dollars are very rare and extremely popular. Most are found in Proof 60 condition or higher. All known examples are Restrikes with cracked reverse die.

1836 C. GOBRECHT F below base
No stars obverse, no stars in reverse fields, plain edge
Die alignment – eagle flies upward, medal turn and eagle flies level coin turn
Judd-63

Judd-63 is extremely rare and one of the most valuable of the series. The coins are struck in alignment III, and according to the Judd book, were struck around 1876.

1838 C. GOBRECHT name removed from base
Stars in obverse fields, reverse with eagle flying in plain field
Die alignment – eagle flies level medal turn and coin turn (Restrikes are alignment III only)
Reeded edge
Judd-84

These are virtually identical to the Original Judd-84 issues, but are found with tiny die breaks on the reverse. These are very popular and are the most difficult year to find of the Gobrecht Dollar issues.

Researchers have found these tiny die breaks on Originals, so these are from hardening or when they were first struck. The Restrikes have heavier die cracks (obvious under slight magnification, while the Originals require 15x or higher, and they are not seen on some Originals that are not fully struck).

1839 C. GOBRECHT name removed from base
Stars added to obverse, reverse with eagle flying in plain field
Die alignment – eagle files level coin turn and eagle flies level medal turn
Reeded edge
Judd-104

There were perhaps less than 100 of this issue struck in the 1850s and 1860s. Most seen are high grade and are extremely popular issues. These are virtually identical to the Original Judd-104 issues but are found with tiny die breaks on the reverse.

Most of the alignment IV coins are Originals (eagle flies level medal turn) and Restrikes are much rarer (perhaps 50 or so were struck. Interestingly, they only started restriking 1839s after they became more expensive than the 1838s!)

Summary

Hopefully, this information will give readers a somewhat clearer picture of this incredibly misunderstood coin. I would like to thank my friend John Dannreuther for his help on the subject. He has spent a great deal of time studying this issue. You can expect more discoveries to be made in this perplexing series.

Anyone who has a chance to own one of these great coins will fully appreciate their complex story. Great coins are defined by the stories attached to them, and Gobrecht Silver Dollars are a fascinating series with a great story that is only now being fully understood.

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