1838 Gobrecht Dollar (Restrike) Value & Price Guide

The Gobrecht Dollar occupies a unique position in American numismatics. It is simultaneously a pattern coin, a regular-issue coin, and a restrike, depending on the specific variety and when it was struck. Christian Gobrecht, the third Chief Engraver of the United States Mint, designed what many consider the most beautiful silver dollar in American history. The 1838 restrikes, produced using original dies but struck in later years, are among the most fascinating and debated coins in the series.

Quick Value Summary

Detail	Info
Item	1838 Gobrecht Dollar (Restrike)
Year	1838 (restrike, struck circa 1858-1860)
Denomination	One Dollar
Mint	Philadelphia
Category	Coins
VF (Very Fine)	$5,000 - $8,000
EF (Extremely Fine)	$8,000 - $15,000
AU (About Uncirculated)	$15,000 - $25,000
Proof/Mint State	$25,000 - $60,000+
Record Sale	~$80,000+ (finest known examples)
Mintage	Unknown (restrikes produced clandestinely)

The Story

The story of the Gobrecht Dollar begins in 1835, when Mint Director Robert M. Patterson commissioned a new dollar coin design. The United States had not produced a silver dollar since 1804, and Patterson wanted something dramatic. He turned to Christian Gobrecht, who had recently been hired as an assistant engraver.

Gobrecht created a design featuring a seated figure of Liberty on the obverse, which would influence American coinage for the next 55 years. The reverse featured a magnificent flying eagle, designed from sketches by the painter Thomas Sully. The first Gobrecht Dollars were struck in December 1836, followed by additional strikes in 1838 and 1839.

The 1838 restrikes are where the story gets complicated. In the late 1850s, Mint officials (likely at the direction of Mint Director James Ross Snowden) used the original Gobrecht Dollar dies to produce new coins. These restrikes were made primarily for collectors and sold or traded privately. The practice was ethically questionable even by the standards of the era, and the exact number of restrikes produced is unknown.

Distinguishing original 1838 strikes from restrikes requires specialized knowledge. The original 1838 coins were struck with the die alignment known as "coin turn" (medal alignment), while the restrikes used "medal turn" (coin alignment) or other die configurations. The positioning of the eagle relative to Liberty's position also differs.

How to Identify It

Design Elements

• Obverse: Seated Liberty facing left, holding a pole with a liberty cap. Thirteen stars around the border. Date "1838" below.

• Reverse: Flying eagle soaring left, surrounded by 26 stars and the legend "UNITED STATES OF AMERICA" and "ONE DOLLAR."

• Edge: Reeded

• Diameter: 38.1mm

• Weight: 26.73 grams (416 grains of standard silver)

• Composition: 90% silver, 10% copper

Original vs. Restrike

The key identifier is die alignment:

• Original 1838: Die alignment Type I (coin turn, 180 degrees). Eagle flying upward when coin is rotated on vertical axis.

• Restrike: Die alignment Type II (medal turn, 0 degrees). Eagle flying level when coin is flipped on horizontal axis.

This distinction requires handling the coin and rotating it, or detailed photography from multiple angles. Professional grading services note the die alignment on the slab label.

Value by Condition

Very Fine (VF-20 to VF-35)

Moderate wear on high points of Liberty's figure and the eagle's breast feathers. Major design details remain sharp. VF examples sell for $5,000 to $8,000. Evidence of circulation is uncommon on restrikes, as most were collected rather than spent.

Extremely Fine (EF-40 to EF-45)

Light wear on the highest points only. Full detail remains on the stars, Liberty's gown folds, and the eagle's feathers. EF examples trade for $8,000 to $15,000.

About Uncirculated (AU-50 to AU-58)

Trace wear on the highest points, with substantial original luster remaining. AU examples sell for $15,000 to $25,000. Many restrikes survive in this range or higher because they were struck for collectors.

Proof/Mint State (PR/MS-60 to PR/MS-65)

Full original surfaces with no wear. The restrikes were often struck with proof-like surfaces. Proof examples command $25,000 to $60,000 or more depending on quality. A gem proof (PR-65 or higher) with clean surfaces and strong eye appeal can exceed $60,000.

Known Varieties

Variety	Die Alignment	Origin	Approximate Value (AU)
1836 Original	Coin turn (180°)	Original issue	$20,000 - $50,000
1838 Original	Coin turn (180°)	Original issue	$15,000 - $40,000
1838 Restrike	Medal turn (0°)	Circa 1858-1860	$15,000 - $25,000
1839 Original	Coin turn (180°)	Original issue	$10,000 - $30,000
1839 Restrike	Medal turn (0°)	Circa 1858-1860	$8,000 - $20,000

Authentication

Gobrecht Dollars require expert authentication:

• PCGS and NGC: Both major grading services authenticate and grade Gobrecht Dollars. They note the specific Judd number (pattern reference) and die alignment on the slab label.

• Counterfeits exist: Given the high values, counterfeit Gobrecht Dollars have been produced. Cast copies lack the sharpness of struck originals. Die-struck counterfeits are rarer but more dangerous.

• Weight and diameter: An authentic piece should weigh 26.73 grams and measure 38.1mm. Deviations suggest problems.

• Surface analysis: Original strikes and period restrikes show specific die characteristics that experts can identify. Die cracks, polish lines, and striking characteristics all help attribution.

Never purchase an uncertified Gobrecht Dollar for more than bullion value without professional authentication.

Where to Sell

• Heritage Auctions: The leading venue for rare US coins. Deep collector base for pattern and early dollar coinage.

• Stack's Bowers: Major auction house for numismatic material, especially early US coins.

• PCGS/NGC dealer network: Authorized dealers who specialize in early US coinage.

• Great Collections: Online auction platform specializing in certified rare coins.

Grading costs: PCGS charges $65 to $300+ depending on declared value and service tier. NGC is comparable. For a coin potentially worth $10,000+, professional grading is essential.

Think you might have a Gobrecht Dollar? Upload a photo to Curio Comp for initial identification.

Explore More

The Gobrecht Dollar represents American coinage at its artistic peak. Christian Gobrecht's Seated Liberty design would define American silver coins for over half a century.

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