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1863-S 10C MS65 PCGS. CAC....

2009 April-May Cincinnati, OH (CSNS) US Coin Auction #1124

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Auction Ended On: Apr 30, 2009
Item Activity: 10 Internet/mail/phone bidders
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Duke Energy Center
525 Elm Street
Cincinnati, OH 45202

Fantastic Gem 1863-S Dime
Only Two So Graded at PCGS
1863-S 10C MS65 PCGS. CAC. In 1863, both active Mints, Philadelphia and San Francisco, struck dimes. From the start of San Francisco's production of the denomination in 1858, the pattern had held for five years: San Francisco's output would be somewhere between the mid-five figures and low six figures, while Philadelphia's production easily would more than double that of San Francisco. The year 1863, however, would signal a reversal in the trend: while the main Mint at Philadelphia, affected by the ongoing Civil War, would strike a paltry 14,000 dimes, mintages at San Francisco, buffered from the immediate effects of the fighting, continued at the same pace. The modified pattern would persist through 1868, when Philadelphia's dime mintages returned to their prior levels.
As one might imagine, in circulated grades, the 1863 dime is substantially more elusive (and more expensive) than its S-mint counterpart. At the various Mint State levels, however, the San Francisco issue, which was active in commerce as opposed to the hoarded Philadelphia coins, catches up to and then surpasses the lower-mintage issue. S-mint and P-mint examples are nearly on-par in MS60, and as the grade rises, it is the San Francisco dime that becomes the greater prize.
At the Gem level, PCGS has certified just two 1863-S dimes as MS65, with none finer (3/09). This minimally toned Gem offers strongly lustrous, carefully preserved surfaces with a touch of satin. The strike is slightly soft at the margins, but the overall eye appeal reinforces the grade assigned.
From The Joseph C. Thomas Collection.(Registry values: N1) (NGC ID# 239L, PCGS# 4638)

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