COPPER 1839 GOBRECHT DOLLAR JUDD-107 RESTRIKE

 

1839 P$1 Name Omitted, Judd-107 Restrike, Pollock-119, Unique, PR65 Brown PCGS. Ex: Simpson. Copper. Plain Edge. Stars Obverse, No Stars Reverse. Die Alignment III (head of Liberty opposite the N in ONE). Die State A. Judd-107 is essentially a Judd-105 struck in copper. While struck in different metals, both the Judd-105 and 107 share the same starless reverse and plain edge. The reverse die cracks are microscopic, but located left of M and extending through MERI terminating to the right of I, connecting the tops of NITED, and through the bottom of LAR. The die spur on the right side of the D in UNITED is also present as well as the depression in the field below and to the right of the F in OF. Several stars on the left side of the obverse are double-punched: star 3 slightly, 5 and 8 (both show considerable rotation). This is the same star repunching as seen on Judd-104s. At the microscopic level there is pimply evidence of die rust, undoubtedly from using a 30-40 year-old pair of dies.

The die state of this piece is similar to that on the later state 1839 Judd-104 restrikes, Judd-105, and all the other mules. These other starless reverse issues as well as all other Gobrecht mules show the same die spur on the right side of the D in UNITED. Judd-64, 87, and 107 all show the same field depression below and to the right of the F in OF, which is believed to be from foreign matter that adhered to the die at the time of striking. This depression is not seen on any silver Gobrecht dollars, and its presence on these three copper issues suggests a common striking period. There is an interesting annotation in Samuel Chapman's copy of Adams-Woodin as quoted in the Champa II Sale (Bowers and Merena, 3/1995). Next to AW61-63 Chapman noted, "Mules by the Snowden-Thatcher (?) gang 1874-1880." This is the equivalent of AW-87, but the point is still taken that mules (generally speaking and not just limited to those dated 1838) were struck in this 1874-1880 time frame.

This coin appears to be unique. No other example has surfaced since this coin was first sold at public auction in 1908. To further underline the significance of this unique dollar, it was one of only two Gobrecht issues and mules missing from the fabulous collection assembled by the late Dr. Julius Korein, whose collection was donated to the ANS and remains there. This piece has only been one other time at public auction since 1972, and thus was never on the market during Dr. Korein's collecting career.

For 113 years this coin has only been in only five collections that we are aware of. It first appeared in the Peter Gschwend Collection in 1908. Gschwend stopped collecting coins around 1871 and consigned his collection to Tom Elder. This coin is listed on the last page of the catalog as an Addenda lot. It almost certainly was not a part of Gschwend's collection, but rather a last-minute addition from another source. That one Addenda page contains several significant Gobrecht rarities. The coin then passed to Virgil Brand, the wealthy beer magnate.

The third collector to own this piece was the well-known, playboy-king of Egypt, King Farouk. With the royal treasury at his disposal, Farouk was able to purchase whatever rarities were offered to him. He was by far the biggest buyer of U.S. and world rare coins in the 1930s and 1940s.

Ex: Peter Gschwend Collection (Tom Elder, 6/1908), Addenda lot F; Virgil Brand inventory # 44164; The Palace Collection/Farouk (Sotheby's, 2/1954), lot 1729; purchased out of Farouk by dealer/collector James Randall; Kagin's (10/1966), lot 1595, unsold; Kagin's (5/1969), lot 212, where it brought $3,600; Kagin's (9/1972), lot 50, unsold; unplated in the Kagin's catalogs; ANA Auction (Heritage, 8/2010), lot 3291, where it brought $149,500.

To read the complete lot description, see:
1839 P$1 Name Omitted, Judd-107 Restrike, Pollock-119, Unique, PR65 Brown PCGS.... (https://coins.ha.com/itm/gobrecht-dollars/1839-p-1-name-omitted-judd-107-restrike-pollock-119-unique-pr65-brown-pcgs/a/1344-3594.s)

 

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