1930-S $10 MS65 PCGS. CAC....

Description

1930-S Indian Ten Dollar, MS65
Rare CAC-Approved Gem Registry Coin

1930-S $10 MS65 PCGS. CAC. After World War I, small denomination gold coins rarely circulated as people preferred the convenience of paper currency for daily transactions. However, large denomination gold coins in the form of double eagles continued to be minted regularly throughout the 1920s for use in international trade and to support the value of paper money -- congressional legislation necessitated a certain amount of gold coin be available as backing for paper currency in circulation. However, demand for ten dollar coins was lower, and following a significant production of 1.4 million pieces in Philadelphia in 1926, no further eagles were minted at any U.S. Mint until 1930, when a limited run of 96,000 coins was produced in San Francisco.

During the Depression, there was minimal commercial demand for these coins, and most of the production was kept in storage at the Mint and Treasury, never entering circulation. Only a few coins were issued to the public through the Treasurer's Office, and some were possibly retained by members of the Annual Assay Commission. The vast majority remained in federal storage until they were recalled and melted down under the 1933 Gold Recall order. The 1930-S eagles started to emerge in auction houses by 1939, fetching prices well above double their face value, despite their recent minting date.

This is a lovely Gem example of the key-date 1930-S Indian eagle. Sharp central devices complement radiant, frosty straw-gold and peach-orange mint luster, while neither side shows serious abrasions. Indeed, the quality and eye appeal are excellent for the grade, as the CAC green label suggests. Even the border stars are generally well defined according to what is typically seen on this issue. Population: 19 in 65 (4 in 65+), 6 finer. CAC: 8 in 65, 2 finer (4/24).(Registry values: N7079)
From The Mercury Rising Collection, Part II.

Coin Index Numbers: (NGC ID# 28HA, PCGS# 8883, GSID# 9775)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.48375oz
Mintage: 96,000

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.

View all of [The Mercury Rising Collection, Part II ]

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