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Lot
8783

1859-S $10 AU53 PCGS. An immensely important coin for the ...

2003, Orlando, FL. (FUN) Signature Sale #308

 
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Auction Ended On: Jan 10, 2003
Item Activity: 3 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
Excessively Rare 1859-S Liberty Eagle, Impressive and Nearly Unsurpassable AU53 Preservation
1859-S $10 AU53 PCGS. An immensely important coin for the specialist, and a representative that is equal in grade to the Bass specimen that Bowers and Merena sold for $12,650 in their October 1999 sale of that collection. Both sides retain considerable luster for the grade, the greatest concentrations of which are seen in the more protected areas around the devices and at the borders. This is a pleasing coin to behold with lovely golden-rose coloration and a not excessive number of abrasions. None of the latter features are large or worthy of singular mention. Overall bold in definition with some isolated bluntness of detail on some of the obverse star centrils. A few swirls of dark color are noted on the reverse at the S mintmark and along the outside of the eagle's left (facing) leg.
The 1859-S was produced to the extent of just 7,000 pieces. Writing in 1980, David Akers describes this issue as "grossly underrated in light of its true rarity." We do not known exactly how many '59-S Tens are extant, but NGC and PCGS have seen only 54 coins (resubmissions?), the finest of which grade AU55 (10/02). This is the highest graded example that we have offered in at least ten years. (NGC ID# 2643, PCGS# 8630)

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