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Lot
3954

1876 $10 AU53 NGC....

2014 July 10 - 13 Summer FUN US Coins Signature Auction - Orlando #1207

 
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Auction Ended On: Jul 10, 2014
Item Activity: 8 Internet/mail/phone bidders
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Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:

1876 Liberty Eagle, AU53
Second-Lowest Series Mintage
Only 687 Pieces Struck
1876 $10 AU53 NGC. Among Liberty eagles, only the famous 1875 issue boasts a lower mintage than the 1876, which was struck to the extent of only 687 pieces. A larger than average proof mintage of 45 pieces was also accomplished in anticipation of high demand during the bicentennial year. Collector interest in large denomination gold coins was extremely limited in the 19th century, and the relatively generous proof mintage more than supplied the needs of contemporary collectors. As a result, few business-strike examples were saved and the 1876 is prohibitively rare in Mint State grades today. Many examples seen exhibit extensive surface marks and some are severely impaired. An early auction appearance of the 1876 Liberty eagle was in lot 340 of the Charles Cowell Collection (B. Max Mehl, 11/1911):

"Fine. Extremely rare. Only 732 coined. Has been skillfully plugged above Liberty head, and the letter E in the word TEN has been re-engraved. A very skillful job and hardly noticeable. Record $35.00"


Elder added the mintages of proof and business-strike emissions to get his total of 732 pieces, a practice that was often followed in those days when the difference between proof and business-strike issues was not well-understood. The 1876 appears at auction two or three times per year in recent times. Recent auction sales include the AU58 PCGS coin in lot 5495 of the FUN Signature (Heritage, 1/2014), which realized $70,500.

The present coin is an attractive AU53 example, with well-detailed design elements that show just a trace of wear, and pleasing greenish-gold surfaces that display prooflike reflectivity in sheltered areas. No large or distracting abrasions are evident. This lot represents an important opportunity for the series specialist. Census: 2 in 53, 10 finer (6/14).(Registry values: N2998) (NGC ID# 265C, PCGS# 8674)

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