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Exceptionally Lustrous MS67 1909-S Ten Dollar

1909-S $10 MS67 PCGS. Work on the new design San Francisco eagles did not begin until August when a small quantity were struck during the visit of Director Leach. These were found to be too thick and it was not until mid-September that satisfactory coins were struck. Seven obverse and seven reverse dies were used to produce the San Francisco Mint's 1909 eagles. Each die pair struck on average 41,898 coins with total production of 293,287 pieces for the year. The net mintage--coins that were of proper weight, fineness, and without production defects--was 292,350 coins, indicating that just 937 defective pieces were made. Compared to the Philadelphia Mint's defect rate of nearly 3%, it seems the San Francisco Mint staff knew better how to mint these gold coins.
This is certainly a well-produced example of this median rarity in the ten dollar Indian series. The surfaces shout with luster--the bright, swirling cartwheel luster that S-mint coins are so well known for. Akers (1988) classes the 1909-S in two categories: " ... either very frosty with very little granularity, or slightly satiny." This piece is clearly an example of the former finish. Additionally, the striking details are boldly defined throughout, and there are no mentionable marks on either side. The only recorded hoard of this issue was a group of 70-90 pieces found in South America in 1977. Most of these pieces were of MS60-63 quality, which would lead one to the conclusion that this piece is probably not from that hoard and has been in a high grade date or type set since the year of issue. This piece is tied with one other at the MS67 level, and is exceeded only by a single MS68 coin at NGC (10/06). This is the first offering by Heritage of a MS67 example of this date.
From The Kutasi Collection.(Registry values: N1) (NGC ID# 28GP, PCGS# 8864)

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Auction Dates
January, 2007
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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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