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Lot
3642

1839 $10 Type of 1840, Small Letters AU58 PCGS. The Type of 1840 eagle boasts a completely new obverse from that used on 18...

2007 January Orlando, FL (FUN) Signature Coin Auction #422

 
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Auction Ended On: Jan 4, 2007
Item Activity: 5 Internet/mail/phone bidders
1,675 page views
Location: Orlando, FL
Description:
Pleasing AU58 1839 Eagle, Type of 1840
1839 $10 Type of 1840, Small Letters AU58 PCGS. The Type of 1840 eagle boasts a completely new obverse from that used on 1838 and prior 1839 issues. The most noticeable difference between the two types is the tilt of Liberty's head; on the Type of 1838 star 6 is located directly above Liberty's coronet, while on the Type of 1840 the coronet points directly at star 6. Liberty's bust is rounded on the Type of 1838; and more pointed on the Type of 1840. Of the two types of eagles minted in 1839, this is easily the rarer. It has roughly half the mintage of its predecessor, and about as many have been certified by the major grading services in total as the Type of 1838 has examples graded in Mint State alone. Indeed, the current near-Mint piece has to be considered among the finest available to collectors. Breen called the 1839 Type of 1840 "prohibitively rare AU," while Akers states that it is "very rare in any condition and most known specimens are VF or EF." Only two pieces have been certified in Mint State: one graded MS64 by NGC and another graded MS62 by PCGS. This leaves collectors searching for the finest available quality to consider attractive high-end AU specimens such as the current coin. The surfaces boast a pleasing medium gold color and a good deal of remaining luster, most notably in the recessed areas near the edges. A bit of highpoint wear is evident, most noticeably on the hair above Liberty's ear, yet the overall level of detail is outstanding. The lightly abraded surfaces are appropriate for a coin that has spent a short time in circulation. A series of spindly die cracks, as struck, encircles much of the obverse. This lot represents an opportunity for the specialist to acquire a rare coin in an uncommonly high grade without having to wait the years or even decades it might take to encounter a finer specimen. Population: 2 in 58, 1 finer (11/06).
From The Temecula Collection.(Registry values: N4719) (NGC ID# 262F, PCGS# 8580)

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