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Lot
2343

1858 $10 MS64 PCGS. This is a classic rarity within the Liberty eagle series. Just 2,521 examples were coined, the 15th low...

2007 St. Louis, MO (CSNS) Signature Coin Auction #434

 
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Auction Ended On: May 10, 2007
Item Activity: 12 Internet/mail/phone bidders
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Location: St. Louis, MO
Description:
Finest Known 1858 Ten Dollar, MS64
1858 $10 MS64 PCGS. This is a classic rarity within the Liberty eagle series. Just 2,521 examples were coined, the 15th lowest mintage of the entire design from 1838 to 1907, and the fifth lowest in the No Motto issue. Most survivors exist in lower grades with heavily abraded surfaces. Mint State examples of this issue are extremely rare. When this coin surfaced more than 30 years ago it was universally considered the finest 1858 in existence. Today it is still regarded as such, unrivalled in quality by any other coin of this date (the NGC MS64 is this same coin). Only three other Mint State pieces have been graded by NGC and PCGS combined.
We last handled this coin 12 years ago in the October 1995 Long Beach Sale, when we sold the Warren Miller Collection. At that time, we pieced together the story of this coin, and we present its story here once again. This extraordinary coin first entered the marketplace in 1972, when a man entered the New York offices of Manfra, Tordella and Brookes. He opened a small chamois pouch and showed Paul Nugget an 1858 eagle. The coin was presented face-up, and because it had such mint bloom Nugget naturally assumed it had to be an O-mint. To quote Nugget, "It was beyond comprehension that an 1858-P could be presented over the counter in such a superior state of preservation." Obviously, he bought the coin. He then placed it in the collection of Frank Bohren. When Bohren died, his trust fund consigned the coin to Auction '80 where it realized $115,000. It next passed to an unnamed intermediary, from whom Andy Lustig eventually purchased the coin. Andy placed it with Warren Miller, who kept it as one of the cornerstones of his extensive collection of Liberty tens.
Sharply struck throughout, the fields are bright and semi-prooflike with subtle reddish-gold and lilac color present on each side. A pedigree identifier in the form of a small grease stain is noted on the tip of the eagle's left (facing) wingtip. This coin is truly phenomenal and would be an impressive piece even if it were a common date. Expect enthusiastic bidding, as this coin may not appear again for many years.
From The Palakika Collection.(Registry values: N1) (NGC ID# 263W, PCGS# 8625)

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