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Lot
4871

1839 $10 Type of 1838, Large Letters MS61 PCGS....

2010 October Stamford Coinfest Signature US Coin Auction #1145

 
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Auction Ended On: Oct 29, 2010
Item Activity: 6 Internet/mail/phone bidders
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Location: Marriott Stamford Hotel & Spa
243 Tresser Boulevard
Stamford, CT 06901
Description:

1839/8 Ten Dollar, Type of 1838, MS61
A Major Condition Rarity
1839 $10 Type of 1838, Large Letters MS61 PCGS. For reasons that are not clear today, the Mint modified Gobrecht's original design for the ten dollar gold coin partway through the year 1839. Most examples seen are overdates, but Walter Breen reports a prohibitively rare normal date variety (possibly just a late die state, with the remnants of the undertype worn completely away). The new design featured differences in Liberty's hairdo, neck truncation, and the size of the letters in the reverse legends. As David Akers points out, these differences in design are dramatic, and each design should be considered a separate subtype of the Liberty Head, No Motto eagle. In Collecting & Investing Strategies for United States Gold Coins, Jeff Ambio notes this date as the least expensive option for inclusion in a type set of major subtypes of the Liberty Head, No Motto eagle.
With an original mintage of 25,801 pieces, this issue is scarce-to-rare in all grades. Seven specimens were recovered from the wreck of the S.S. Republic. The total surviving population is estimated at 250-300 pieces, with Mint State examples rare.
The present coin is an attractive orange-gold example with full mint luster. The strike is sharp in most areas, with some weakness on the stars, typical of the issue. The surfaces show a number of small handling marks, consistent with the grade. Overall eye appeal is strong. Population: 4 in 61, 7 finer (9/10).(Registry values: N7079) (NGC ID# 262E, PCGS# 8576)

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