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This variety is 1 of 5 documented hand-made die counterfeit gold dollar varieties dated 1856.  The planchet is thought to be silver based on another example of this variety seen with a silver planchet, but this example shows so much of the original gold plating that the underlying plachet alloy is uncertain.  The quality of die workmanship on this variety was very good on the obverse but slightly lacking on the reverse.  In particular on the reverse the date and lettering are thin, and some of the wreath elements are also thin or overly boldly noticeable.  On the obverse of this example, a patch of debris is present on the lower hair, and this might be able to be carefully removed from an experienced coin restorer.  Nevertheless, this is a very nice example of this variety.

1856 counterfeit Gold Dollar, Variety 'C-4'

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