One theory first advanced in the 1860s suggested 1804 dollars had been included in diplomatic presentation sets prepared by the Mint at the request of the State Department circa 1834 (documentation of the request of the sets existed). By the end of the 19th century though, some researchers concluded that no evidence existed proving 1804 dollars were included in any 1830s diplomatic presentation sets that might have been produced.

The Newman-Bressett book in its original form contained a chapter concluding that the diplomatic gift origin of the set was a "delusion."

After the unveiling of the set, Bressett contacted Whitman to literally "stop the presses." The presses were printing the original manuscript while he was at the convention.