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Lot
2201

1875 $10 AU50 PCGS. The 1875 Ten Dollar is a well known, ...

2004 Orlando, FL (FUN) Signature Sale #336

 
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Auction Ended On: Jan 7, 2004
Item Activity: 6 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
Extremely Rare 1875 Liberty Eagle
1875 $10 AU50 PCGS. The 1875 Ten Dollar is a well known, some might even say, legendary rarity in the ten dollar Coronet series. It is so rare that very few collectors or dealers have ever seen one. Only 100 business strikes were originally produced plus 20 proofs. Only 5-6 business strikes may be extant today in all grades, and at least two of those are in very low grades (Jake Bell and Adolph Menjou both had pieces that graded Good). Proofs are almost as scarce with an estimated 7-8 pieces believed known today.
Even though PCGS has certified this piece as an AU50, we believe it may be a circulated proof. The fields still retain a significant amount of reflectivity around the devices (although this by itself is certainly not evidence of its proof status). However, the left base of the 1 in the date is positioned over the left edge of a dentil; and on the reverse, the top of the second stripe is weak. A planchet flake is seen on the upper portion of Liberty's neck and is mostly surrounded by a deeper coppery patina. While planchet flaking is sometimes seen on the reverse of both 1875 and 1874 tens (indicating a shared die), we have not seen enough proof or business strike 1875 tens to say with any certainty if flaking can also be expected on the obverse. The surfaces show the usual number of small abrasions and handling marks one expects from any coin that has seen ten points of wear. The only mark of any significance is located in the upper left obverse field and extends downward from the juncture of Liberty's forecurl and the bottom of the coronet. Rich red and lilac coloration is seen over each side. An extremely rare opportunity to acquire this seldom-seen 19th century gold issue. (#8672) (Registry values: P3) (NGC ID# 265A, PCGS# 8672)

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