1801 $10 MS64 PCGS....

Description

Breathtaking Near-Gem 1801 Eagle, BD-2

1801 $10 MS64 PCGS. Breen-6843, Taraszka-25, BD-2, R.2. The year was 1801. Thomas Jefferson was elected as our third president, the United States had meagerly grown to 16 states and we were at war with Tripoli. Meanwhile, our fledgling first Mint in Philadelphia was struggling for survival. David Lange elaborates in his History of the United States Mint and Its Coinage: "The late 1700s and early 1800s were the United States Mint's darkest days, and it seemed that the end was near. Declaring the Mint a failure, many in Congress wanted to abolish it." He goes on to add that, "in 1801, bullion deposits dropped off dramatically, and the Mint again was threatened with extinction. Only the previous year, the Senate had passed a resolution that called for abolishing the U.S. Mint and placing a contract for coining with the Bank of the United States. The lack of federal coinage was blamed on inefficiency and incompetence, while the real reasons were little understood by Congress." Amidst the economic and political turmoil of the time, Mint Director Elias Boudinot managed to keep the coining presses in motion. Over one million cents were struck, with mintages of the half dimes, dimes, half dollars, and dollars reaching into the tens of thousands of coins each. Interestingly, the only 1801-dated denomination struck in gold was that of the eagle. The recorded mintage of 44,343 tens in 1801 likely included some coins dated 1800 and, as suggested by noted collector and early gold researcher Harry W. Bass, Jr., some pieces dated 1799 as well. Nonetheless, the 1801 eagle is one of the more available issues in the Capped Bust ten dollar series.
The high estimate of the 1801 eagle extant population is approximately 800; a figure that most specialists agree upon. That would suggest a survivor rate of approximately 2%, which is consistent with other coins minted in the early years of our first Mint. Only the 1799 is more readily available in all grades, making either date the usual choice for type collectors. Those seeking Gem examples, however, will require much patience as PCGS and NGC combined have graded only four 1801 tens at the MS65 level. Even near-Gems, such as the current offering, are scarce with a mere 34 examples thus certified at PCGS (5/08).
This is a spectacular piece. The fields are bright with a confirmed reflectivity on each side. The central design elements are fully brought up and the only area of softness is on the peripheral stars on the obverse. Bright yellow-gold color. A magnificent early ten and a rare opportunity for the gold type collector.
From The Charleston Collection.(Registry values: P1)

Coin Index Numbers: (NGC ID# 2627, PCGS# 8564, Greysheet# 9348)

Weight: 17.50 grams

Metal: 91.67% Gold, 8.33% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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