By: Dennis Hengeveld - Republished with Permission from the Author

Gobrecht Dollars. They have fascinated both collectors and researchers since they were minted, first in 1836, and for the last somewhere in the 1870’s as restrikes. And collectors love them. On the obverse, the coin design shows Miss Liberty, seated on a rock and with here right hand holding a shield. Sometimes there are stars around Miss Liberty, sometimes not. On the reverse, there is an eagle, flying onward in different positions, sometimes up and sometimes level. Here also, sometimes there are stars around the eagle, sometimes not.

The above text sounds a bit confusing, but that is also the case with the Gobrecht dollars. The originals are already confusing when you want to find out when they were minted, and how much. Because only very few were minted (always less than 1000 if you take die alignments in account) die cracks and the like are very rare, and you have to find other ways to find it out. Then there are the second originals, sometimes already designated as restrikes. And after that the real restrikes were made trough the early 1870’s.

The designer, Christian Gobrecht was of German ancestry, and was born in Pennsylvania in 1785, and early in his life he showed an interest and talent for artistic and engraving work. He perfected his talent when he worked for a clockmaker at the usual tender age by putting his engraving skills in ornamental designs put on watches. In 1811, he moved to Philadelphia, and after that he soon began to work for a bank-note firm. As early as 1816 his name was well known in engraving circles and he seems to have begun his die engraving work about this time, although there are no signed medals until the mid-1820s. When the mint’s engraver Robert Scot died in November 1823, Gobrecht was already well enough known to become a temporary replacement. Unfortanly for him, he was turned down in favour of William Kneass, who had better connections (which was very important at that time). The chief engraver received a salary of $1200 per annum (year) and Gobrecht thought even this amount was barely acceptable. Despite losing the top prize and turning down the assistantship, Gobrecht maintained a connection with the Mint in several ways. Not only did he make letter and figure punches for the engraving department, in 1825 he executed some fine Liberty heads (which again for him) unfortunately were not used on the coinage. (more…)

By Ken Cable-Camilleis E-Gobrecht 2008 Volume 4, Issue 1

The following is a collector value assessment of coins within the portion of the Liberty Seated series spanning the years 1837 through 1852, all denominations. The foregoing analysis is based on several factors, including but not limited to the PCGS Population/NGC Census Reports, various pricing guides, and extensive personally compiled data and statistics related to general market presence. This compilation indicates, based on my observations and research, what in the realm of mainstream numismatics could be the 25 most underrated Seated coins within this period.

My research suggests that presently there are no overpriced Seated coins dated prior to 1853. I also surmise that most of the dimes and quarters minted from 1840 through 1851 are dramatically undervalued in the mainstream market. While working from such a large sample space of dates and varieties within the five Seated denominations covering the 16-year span of 1837-52, it was a tough call to narrow the field down to 25 specific coins that have especially captured my attention.

The reader should bear in mind that the coins enumerated in this work are not all “classic rarities” because current pricing may have already taken their rarity into consideration. They are simply coins that have received too little attention, or coins that can be obtained relatively cheaply. Some of these coins may already be recognized by LSCC members or other numismatic specialists as having been overlooked. Their market values are not, however, reflected in the most influential price guides, especially the Coin Dealer Newsletter “Greysheet” Quarterly (CDNQ) which since 1992 seems to have been the predominant buyer guide for Seated material.

Another observation is that most certified coins of 1837-52 are “market graded” for their assigned grade. Therefore, I have taken into consideration that many Seated coins of this period that are certified MS60 to MS62 may actually have cabinet friction, obtrusive field abrasions or hairline scratches, poorly struck stars and areas within devices, or wear which is confused with poor strike. I have even seen Seated coins slabbed MS63 to MS65 for which I would assign technical grades in the AU range! Choice pieces seem to represent less than 25% of third-party-graded Seated coins from 1837 through 1852, and even some that have few blemishes are not fully struck (that is, all 13 stars, full head/shield details, full eagle features, and anything else that is supposed to be struck up). (more…)