Dollar, United States, 1804 (Class Two)

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Description
If you look very closely at the reverse of this, the sole remaining "class two" 1804 dollar, you will discern a slight shifting of the relationship between the clouds and the lettering above them.
This discrepancy, which distinguishes it from the "class one" and "class three" 1804 dollars, suggests that a new reverse die was employed to strike the coin. This new die was necessary because the old one had either been broken, rusted, or simply discarded after the coinage of 1834, when the class one dollars were struck.
This coin was made a quarter-century later, by a group of enterprising coiners who had decided to go into the rarities business. In addition to making a new die, these midnight coiners had to have stock on which to use it. Instead of following the usual procedure of rolling out a strip of metal to the correct thickness, then blanking it to the correct size-a difficult and expensive process, they decided to start with an existing coin and overstrike it with the new die. That way the new coin would be of about the right weight and thickness. This coin shows traces of the original design: it began its life as a Swiss thaler dated 1857!
When word got out about what was going on, the Mint Director swooped down on the miscreants. All their coins but this one were retrieved and ordered melted down. It remains: a somewhat tarnished, but still legendary rarity.
date made
1804
mint
U.S. Mint (unauthorized)
place made
United States
Physical Description
silver (overall metal)
0 (overall die axis)
0 (overall die axis measurement)
struck (overall production method)
Measurements
overall: .25 cm x 3.8 cm; 3/32 in x 1 1/2 in
ID Number
1986.0836.0062
catalog number
1986.0836.0062
accession number
1986.0836
Credit Line
Transfer from the United States Mint
See more items in
Armed Forces History: National Numismatic Collection
Legendary Coins
Coins
Numismatics
Coins, Currency and Medals
Exhibition
The Value of Money
Exhibition Location
National Museum of American History
Data Source
National Museum of American History, Kenneth E. Behring Center

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