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    Description

    1872 Eagle, Strong Near-Gem
    One of the Two Finest Known Examples
    Once-in-a-Generation Opportunity

    1872 $10 MS64 PCGS. The Liberty Head eagle series is replete with rarity after rarity, not strictly limited to the branch mint issues, those with or without a motto, or condition rarities, although the set includes all three. No, this long running ten dollar gold series defies all boundaries when it comes to challenging dates.

    The 1872 is rare in the absolute sense, a Philadelphia emission struck to the lowly extent of 1,620 circulation strikes and another 30 proofs for collectors. Why were so few coins produced? After specie payments were halted in 1862, Greenbacks became the dominant medium of exchange on the East Coast. Gold coins were hoarded or sold for a premium and did not circulate. In 1872, the gold value of one Greenback dollar was 89 cents, which continued to prevent circulation of the yellow metal.

    The eagles produced at the Philadelphia Mint during this period were strictly for export, and depositors had to pay a premium. Many of the coins struck and exported were most likely melted, explaining the low survivorship of 40 to 60 coins (estimate provided by PCGS Population Report). There are just five Mint State coins at PCGS and NGC combined. The former has seen two submissions in MS62 and two more in MS64, while NGC lists a single Select Uncirculated representative. This near-Gem is tied with the Warren Miller Collection coin for finest known. That piece was sold in our October 1995 Long Beach Signature sale, where it set a record price of $46,750 that still stands. We expect this spectacular Choice example to exceed that total and set a new record.

    Frosted motifs and semireflective fields produce a slight cameo effect that is unsurprising given the issue's paltry production total. Hints of mint-green and lavender complement glowing peach-gold surfaces, furthering the appeal. The impression is nearly complete. Simply the finest 1872 eagle available and a once-in-a-generation opportunity. Population: 2 in 64, 0 finer (1/18).
    From The Admiral Collection. (Registry values: N10218) (NGC ID# 264Z, PCGS# 8663)

    Weight: 16.72 grams

    Metal: 90% Gold, 10% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    View all of [The Admiral Collection ]

    Auction Info

    Auction Dates
    February, 2018
    22nd-27th Thursday-Tuesday
    Bids + Registered Phone Bidders: 16
    Lot Tracking Activity: N/A
    Page Views: 599

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    Due completely to Heritage's thoroughly diligent and professional management and promotion of the collection, the faraday Collection stirred national attention among numismatists and the auction results brought a gross value greater than that last estimated by the experienced collector.
    The Estate of David M. Faraday ,
    San Rafael, CA
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