1801 $10 BD-2, R.2, MS60 NGC....

Description

1801 Ten Dollar, MS60
BD-2, Early State
No Spines in Liberty's Cap

1801 $10 BD-2, R.2, MS60 NGC. Bass-Dannreuther Obverse State a / Reverse State a. Star 8 nearly touches the Liberty cap and has two points facing toward the cap. Star 13 also nearly touches the forward tip of the bust. Star 9 has an extra tine of metal pointed towards the Y. The reverse has lumps at the bottom left of the first T and A in STATES.

What is most interesting about this piece, however, is not a feature that it has, but one that it lacks, namely the usually seen "vertical spines in cap," as Bass called them. These spines have many times been called the result of die clashing with the vertical stripes in the shield on the reverse, but we remain unconvinced of that fact. Neither their width nor overall appearance seems to match the reverse shield lines or any other reverse feature. In many ways, the "spines" resemble some sort of addition made by hand after the dies were produced. If this is true, their discovery at the Mint would explain why a obverse die that showed no die cracks on the 600-800 examples known today was suddenly retired. Bass-Dannreuther write, "The obverse here is not known with any serious damage, so its cause of retirement is not known."

Our study of the die condition suggests that the spines were most likely created when a tiny set screw rested on top of a planchet as the press was operated. The present coin is clearly from a die state previous to their creation. This piece has somewhat prooflike surfaces on both sides, with generous luster and scattered small ticks, scrapes, and abrasions that explain the grade. We can see no evidence of tiny die cracks on the obverse. We have gone back though our Permanent Auction Archives and discovered only a tiny minority of examples we have sold in the past that lack the spines. An interesting coin that could be the subject of fruitful research for the specialist.
Ex: FUN Signature (Heritage, 1/2010), lot 2209, which realized $23,000.

Coin Index Numbers: (Variety PCGS# 45734, Base PCGS# 8564, GSID# 198085)

Metal: 91.67% Gold, 8.33% Copper
Weight: 17.50 grams
AGW: 0.51577oz
Mintage: 44,344

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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