Following an increase in coin collecting among the public in the mid-nineteenth century, there arose considerable demand for older American coins.
Mint Director James Ross Snowden began selling restrikes of Gobrecht dollars and trading them for rare medals (especially those depicting or relating to former President George Washington), which were then added to the Mint's coin collection, then known as a coin cabinet.
The money generated from selling the restrikes went toward purchasing new items for the coin cabinet.
The restrikes created under Snowden's tenure were likely struck in 1859 and 1860, but the practice was largely halted after the eruption of a public scandal; other Mint employees were creating and selling restrikes of early American coins for their own profit.
All Gobrecht dollar restrikes, when tilted on their axis, depict the reverse eagle flying level, rather than upward as it is depicted on the coins struck during the official production run.
It is unknown precisely why the orientation of the eagle was altered, though it is believed by many numismatists that Snowden did this intentionally to make restrikes distinguishable from originals.
Numismatic historian Walter Breen suggests that Snowden simply used the alignment because that was the same used on the Flying Eagle cent, which began production in 1856.
Mint Engraver James B. Longacre, its designer, had borrowed Gobrecht and Peale's eagle reverse for the one-cent coin's obverse.
Following an increase in coin collecting among the public in the mid-nineteenth century, there arose considerable demand for older American coins. Mint Director James Ross Snowden began selling restrikes of Gobrecht dollars and trading them for rare medals (especially those depicting or relating to former President George Washington), which were then added to the Mint's coin collection, then known as a coin cabinet. The money generated from selling the restrikes went toward purchasing new items for the coin cabinet. The restrikes created under Snowden's tenure were likely struck in 1859 and 1860, but the practice was largely halted after the eruption of a public scandal; other Mint employees were creating and selling restrikes of early American coins for their own profit. All Gobrecht dollar restrikes, when tilted on their axis, depict the reverse eagle flying level, rather than upward as it is depicted on the coins struck during the official production run. It is unknown precisely why the orientation of the eagle was altered, though it is believed by many numismatists that Snowden did this intentionally to make restrikes distinguishable from originals. Numismatic historian Walter Breen suggests that Snowden simply used the alignment because that was the same used on the Flying Eagle cent, which began production in 1856. Mint Engraver James B. Longacre, its designer, had borrowed Gobrecht and Peale's eagle reverse for the one-cent coin's obverse.
Gobrecht dollar