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30366

1864-S $10 AU53 NGC....

2014 March 20 The Collection of Donald E. Bently - Bently Foundation US Coins Signature Auction - San Francisco #1205

 
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Auction Ended On: Mar 20, 2014
Item Activity: 10 Internet/mail/phone bidders
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Location: Bently Reserve
301 Battery Street
San Francisco, CA
94111
Description:
1864-S Ten Dollar, AU53
Condition Census Example
Rare Low-Mintage Issue
1864-S $10 AU53 NGC. According to rare gold coin expert Doug Winter, in an article posted on his website (RareGoldCoins.com):

"The 1864-S is the rarest eagle from the San Francisco mint. Only 2,500 were produced and my best estimate is that around 25-30 are known. Unlike its cousin, the very rare 1864-S half eagle, the 1864-S eagle is unknown in Uncirculated and I have personally seen only two that I regard as AU - The Bass III: 658 (graded AU55 by PCGS; it sold for a remarkably cheap $36,800 back in May 2000) and a coin owned by a West Coast specialist. The all-time auction record is $50,600 set in the July 2006 B&M sale by a PCGS EF45."



The auction record that Winter refers to has recently been broken by an XF45 NGC example sold by us at the recent FUN auction in Florida (January 9, 2014), which went for $99,875.00 (buyer's premium included).

The currently-offered example is high on the Condition Census list for this rare, low-mintage issue. It is one of just two pieces graded AU53 at NGC, where only one other 1864-S is graded even higher, at AU55.

The design's motifs are well-struck, even across the centers, except for the eagle's neck feathers. Pleasing shades of light orange-gold and peach are the primary colors to be seen on both sides, and the evenly worn surfaces display normal distributed marks for the grade.

An exciting opportunity for the specialist in this mint or type, and one that is unlikely to be repeated in the near future. As noted by Winter, this issue is the second-rarest in the entire long-lived Liberty Head eagle series, and examples are seldom offered in public auction sales. Astonishingly, this is the third 1864-S eagle coin to be offered by us as part of the Bentley collection.
From the Collection of Donald E. Bently, sold for the benefit of the Bently Foundation.(Registry values: N7079) (NGC ID# 264E, PCGS# 8640)

More Information:

"The 1864-S is the rarest eagle from the San Francisco mint. Only 2,500 were produced and my best estimate is that around 25-30 are known. Unlike its cousin, the very rare 1864-S half eagle, the 1864-S eagle is unknown in Uncirculated and I have personally seen only two that I regard as AU - The Bass III: 658 (graded AU55 by PCGS; it sold for a remarkably cheap $36,800 back in May 2000) and a coin owned by a West Coast specialist. The all-time auction record is $50,600 set in the July 2006 B&M sale by a PCGS EF45."

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