The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-22
FAMOUS DOLLAR OF 1904
REPORT THAT ONE WAS FOUND IN
MONTANA DOUBTED BY EXPERTS.
Doubt Cast Upon the story of Its Orig
fnaI Coinage by Well Posted Nu-
Observation-Disclosures Frauds.
Philadelphia Telegraph.

throughout the country are much interested
in a story from Great Falls, Montana; that
a bartender at Choteau, Montana, had
taken in over the counter for drinks 1904
silver dollar, said to be genuine. In this
city the better-informed numismatists place
little faith in the dollar being the real
thing. They can, however, but theorize on
that point at this distance; but if any one
has faith in the find, they have been very
careful to hold their tongues when discuss
ing the incident
In this connection it is important to men
ton a fact that is probably not known to
the general public, and that is the doubt
now generally held by men who make old
coins a study, as to whether there were
ever any silver dollars coined by the United
States minis in 1904. This doubt is also
held by many of the mint officials who
have been connected with that institution
for years. and it goes far to explode the old
story told in school books that nearly 20 900
of these dollars were coined in that year
and were shipped to Tripoli, pay the
United States troops in service there. and
of their use to purchase the freedom of
Americans who had been enslaved by the
barbarians of Northern Africa.
Whether there were, as the Mint records
pretend to show, nearly 10000 of these coins
lists concerning their history that no we'll
informed coin dealer would guarantee that
any specimen, no matter how nearly per-
feet, was not re-strike-Or was not struck
on after the year 1904 despite the fact that
the coin may bear that date.
1t has been claimed that out of the whole
number coined bearing date 1904 there are
only four which were really struck off in
that year. Two of these are said to be held
IN New York; another in this State, and, if
the Montana dollar can be considered seri-
ously, 1T IS supposed that that is the
fourth. With all of the. uncertainty con-
corning the history of the coin,. they are
quoted today at from $1,000 to $4,000 al
though the highest price. ever given for one.
as far as known, was 1,200.
AN EXPERTS OPINION.
The Montana find was called to the atten-
ton Of J. Colvin Randall, of No. 1905 Chest
nut street, one of the most noted numismat-
lists in This country. He said that he did
not believe the coin was genuine, and
added: And as far as that Isl concerned,
believe the 1904 dollar is always a good
thing to steer clear of. I have my doubts
and they are supported by many Others in
and outside of the Mint, who have tried to
investigate the matter if there is now,
or ever was, genuine 1904 dollar-that is
one that was not a re-strike. We all know
that there was die made for use in that
year, but there are good reasons to believe
that 1t was not used for years afterwards.
i know that the Mint reports saw that near
ly 10000 silver dollars were coined in 1904
but investigation has proved, time and time
again, that the Mint records of the early
days have been absolutely unreliable. They
were made frequently, to serve the pur-
poses OF men who have at different times
not only tried to rob the Government, but
have also swindled the citizens
1T has always been criminal offense to
make re-strikes without the authority of
Congress, but it has been this character of
violation of law that has figured most
prominently in the history of this remark
able coin, for specimens of which more
has nar, 4 s..
COINS or this country. The men who worked
this game either did not fear the law or
they felt safe In the protection of men
higher up on the ladder of authority. Dur
Ing the SOS man employed in the Mint
made re-strfke of twelve or fifteen of
these coins for speculative purposes, and
succeeded in putting them on the market.
This happened again during the latter part
of the sos o.. during the COS. when there
these brought high prices, and finally found
their way to the treasures of the curio
hunters. The supposed real dollar of 1904
had stamped on its edge the words 100
centS-one dollar or unit but those coined
during the SOS had smooth edges. and at
tempts were made to stamp the letters on
afterwards. They can easily be detected
by the irregular appearance of the line.
One of the employees, of the Mint. who
afterwards became a well-knOwn ward poll
tician, but Is now dead, came to me one
day in 1873 and offered to sell one of the
,St :, OF the Iast re.strlke: He pretended
sell 1t for 5000, although they were quoted
at that time at $500. He told a story of hav-
ing obtained it from old woman, who
had received it from her father Some
time before that one was offered me for
sou. IL is needless to say that did not
buy either of the coins.
What the last strike was made the
scandal got out in some way. and resou-
uon passed by Congress required all dies
used for coming money to be destroyed at
the end of the year. This is the custom at
present, and re-strikes can scarcely occur
IN the future. Dies of the dollars of 1901
'O2 and '03 were destroyed with that of 1904.
There have been other fraudulent deal
tngs in connection with this coin in the shape
of alterations. and there are a great many
people who have them in their possession
to-day. .favorite coin for this purpose
We're easily changed by simply scraping off
the last figure and placing upon the coin
the figure f. This could be sOldered on so
neatly as to escape the eye of an expert,
and the only way to discover the fraud was
to heat the coin. This process would cause
the figure to drop off.
HIGHEST PRICE PAID FOR 1T.
1.-THE highest price to my knowledge, ever
paid for an 1904 dollar was s., 200, and that
dollar sold to New York man by
druggist who resided in the Ninth ward. 1t
was known as the Davis dollar and was
bought by the druggist from John Hazel
tine. Some time after its sale the druggist
wanted me to buy it back and l securel. it
for him for $500. / told my client that ii
was re-strike dollar. and / advised him
ing 1t for him. number of years after
that a lawyer named John NJ. Hale, of Phil
lIpSbprg, Center County. Pa, gave me $3.50
for it. j refused to guarantee the coin, and
before purchasing it he took it to the Mint
and someone there told him that the coin
YVES struck off during 1904.
"A favor:te scheme used frequently by
dealers who have no principle is to secretly
send bogus coins to Europe, where they APP
pear strangely in an auction room and are
sold at any price that they will bring Well,
remember there was wealthy man from
the West who bought an alleged 1904 dollar
through a New York coin dealer from a
numismatist in this city. The dealers here
had purchased it in Germany for $3.50 and
they sold it for 81 GOO, guaranteeing it to be
genuine.
This coin was afterwards the cause of
considerable contention, the purchaser hay-
ing suspected that he had been duped
zone of these 1904 dollars Is now owned
by t. e. Altwein, of ST. Joseph, No. who
after long negotiations, bought il from an
Illinois man for $1,000. That was several
years ago. The other was in the collection
of Parmlee. the noted Boston numismatist
and collector. He paid 500 for it some time
in the 7OS, but could undoubtedly have sold
it for more than three times that amount.
At one time, Ii is said, the Government was
in negotiation for it, but the negotiation fell
through. When the Parmlee collection was
sold at auction in this city several wears
ago the famous dollar was not a part of it,
From time to time reports of other 1904
dollars have been circulated, but they in
variably turned out TO be either without
foundation, or TO refer to bad counterfeits."
THE STORIES OF THE DOLLAR
One of the officials of the Mint said today:
ST do not believe that there ever was