J-104 (J104) 1839 S$1 (1839 Silver Dollar) PCGS PF50 CAC. This rare Proof 1839 Pattern Dollar coin has mint luster glowing within its devices. Shades of tan, rose, steel-grey, and blue are seen on both sides. The strike is full, as expected for a proof coin with full details on Libertys head, the word LIBERTY, and the higher parts of the eagle. Just a touch of wear and some small scattered marks keep this piece from a higher grade. The surfaces are original and clean for the grade. The CAC sticker indicates that the coin is of premium quality and fully merits the grade it was assigned. The scuff marks on the eagles wing are on the holder not the coin.

The J-104 has an obverse that shows Liberty seated as she looks over her shoulder to the left. She balances the Union Shield inscribed LIBERTY with her right hand and holds a staff on which is placed a Phrygian cap in her left. There are seven stars to the left and six to the right interrupted by her head and the capped pole. The dated is below. The reverse shows the flying eagle is a starless field. It is surrounded by the inscription UNITED STATES OF AMERICA with the denomination ONE DOLLAR below.

Gobrecht Dollars are often complex. They were first struck in 1836 to 1839 and later as restrikes in the 1870s. The first pieces struck in 1836 were actually a small circulation strike for the educated in Philadelphia as samples of the planned new dollar coin. Robert Patterson, the Mint Director, knew that a nation was judged by the artistic nature of its largest coin. He wanted the United States to have the finest coinage. The first issue had a mintage of 1,000 and was struck with a coin turn alignment. In March 1837, another 600 pieces were struck from the 1836 dies. These are often called restrikes. To distinguish these coins from the originals, the alignment was changed to a medal alignment. Then there were Gobrecht dollars struck that were dated 1838 and, the present coin, 1839. The 1838 coins are considered patterns. They have 13 stars around the obverse edge and no stars on the reverse. In 1839 only 300 pieces were struck, all of which were intended for circulation.
All Gobrecht Dollars have a proof finish, even those that were struck for circulation. They are the only United States proof coins that were made for commerce. To make matters even more complicated, there are many varieties of Gobrecht dollars. They have reverse stars or no stars, the designers name on the rock or below it or omitted, various edge types, and silver and copper issues.

In the 1850s to the 1870s, many rare coins were restruck at the Mint, including Gobrecht dollars. These are also known as restrikes and can be distinguished by the die alignment or the die state. While considered patterns, a small number of Gobrecht dollars were struck for general circulation, and technically are not actually pattern coins.

Struck in silver with a reeded edge, the coins dated 1839 are either originals or restrikes. Most 1839 pieces were struck with Die Alignment IV, when the coin is turned like a medal and the eagle is flying level. This is the more common die alignment, and researchers believe these are clandestine restrikes made in about 1858 or later, for Robert Coulton Davis, a Philadelphia druggist and collector with friendly ties to the Mint staff.

The 1839 J-104 dollar pattern coin is an R3, meaning that 201 to 500 are known to have been minted. Hence, it is a rare in all grades. In its population report, NGC shows a total of 46 coins certified and PGCS has 42. As of January 2012, this coin has not been listed by CAC in its consensus.