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Lot
2229

1907 $10 Wire Rim MS64 NGC. CAC....

2010 January Orlando, FL FUN US Coin Auction #1136

 
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Auction Ended On: Jan 7, 2010
Item Activity: 9 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
Near-Gem 1907 Indian Head Eagle, MS64
Wire Rim, Judd-1901
Saint-Gaudens' Original Design
1907 $10 Wire Rim MS64 NGC. CAC. David Akers reports a net mintage of just 472 Wire Rim ten dollar gold pieces in 1907, with 542 pieces initially struck, and 70 unsold specimens melted between 1915 and 1918. The coins were never released into circulation. Instead, the issue was distributed to Congressmen and Treasury Department officials, and sold to private citizens who ordered them from the Mint. The issue has a high survival rate, and experts estimate a surviving population of 325-400 examples in Mint State grades today.
Wire Rim tens are technically a pattern issue (Judd-1901) but like 1856 Flying Eagle cents, they were struck in sufficient numbers that regular issue collectors have long considered them part of the collectible series. The Wire Rim design has always been prized by collectors, as it is the only available issue that shows Saint-Gaudens' original design for the coins. An early auction appearance was in the William H. Woodin Collection (Thomas Elder, 3/1911), lot 1259. The lot was preceded by an example of the Rolled Edge design in lot 1258 to which Elder refers in his description, "1907. Similar type, with sharp 'wire edge'. Only 550 struck. Rare. Unc. Plate." Elder seems to have been well informed about the issue at this early date.
The present coin is a pleasing near-Gem specimen, with compelling eye appeal. The obverse surfaces have a curious fine granular texture, similar to a matte proof, but the reverse shows the usual swirling die polish marks. Most of the surfaces exhibit the bright yellow-gold color usually seen on this issue, but there is also a slight overlay of reddish patina. A couple of faint handling marks are clustered to the left of the E in E PLURIBUS, the only flaws worthy of mention. Census: 80 in 64, 62 finer (11/09).(Registry values: N7079) (NGC ID# 268B, PCGS# 8850)

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The Coinage of Augustus Saint-Gaudens as Illustrated by the Morse and Duckor Collections
Revised Edition by James L. Halperin, Mark R. Borckardt, Mark Van Winkle, Jon Amato, and Gregory J. Rohan, with special contributor David W. Akers

The Coinage of Augustus Saint-Gaudens is an issue-by-issue examination of these two artistically inspired series of gold coins. Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published. The book is based on two extraordinary collections: The Phillip H. Morse collection and the Dr. and Mrs. Steven L. Duckor collection.

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