1836 $1 J-60 Original, Alignment IV PR(PCGS#11226)

June 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

2162

Grade

PR50

Price

14,640

Lot Description

Korein-95. DTS Die State E. Liberty's head is opposite the letter E in STATES. Bright and flashy surfaces are noticeably semi-reflective despite light handling. Frosty qualities are also see, typical of the issue (these are not true Proofs, but "Special Strikes" as defined by John W. Dannreuther). Cleaned at one time and untoned, although only a few of the scattered marks are singularly distracting during in-hand viewing. Sharply struck with virtually full detail remaining to allow ready appreciation of all aspects of this classic design type.<p>Numismatic scholars recognize four different die alignments for Gobrecht dollars, designated as I (coin turn, eagle flying upwards), II (medal turn, eagle flying upwards), III (coin turn, eagle flying level with respect to obverse), and IV (medal turn, eagle flying level with respect to obverse). When Walter Breen wrote his <em>Complete Encyclopedia</em> in 1988, he considered Die Alignment I examples of the Judd-60 Name on Base issue to be originals from 1836 and Die Alignment II pieces from a mintage of 600 pieces delivered in March of 1837. He regarded Die Alignment III and IV pieces as restrikes. This view had been challenged by the early 1990s, when it was found that many Die Alignment IV pieces evinced signs of circulation, suggesting that they had been made for that purpose rather than to accommodate coin collectors. Modern research by Craig Sholley, John Dannreuther, and Saul Teichman (based on an exhaustive examination of die state evidence), reported that the die alignment sequence of Judd-60 Gobrecht dollars is actually I-IV-II-IV-I-IV. All examples in these alignments are originals attributed to the December 1836 issue of 1,000 coins; the 600 pieces struck in March 1837 represent a test striking, and all were subsequently melted. Die alignment III pieces are still regarded as restrikes coined decades later than 1836. Pollock in his <em>United States Patterns and Related Issues</em> considered Die Alignment II and III pieces as the scarcest alignment varieties, followed by IV. He regarded Die Alignment I pieces to be the most readily available.