1875 $10 AU53 PCGS....

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1875 Ten Dollar Liberty, AU53
Lowest-Mintage Circulating U.S. Gold Coin
Only 100 Examples Struck

1875 $10 AU53 PCGS. The Philadelphia Mint struck a token mintage of just 100 business-strike Liberty eagles in 1875, accompanied by 20 proofs for collectors. The proofs and circulation strikes were struck from different dies, but all the coins were delivered on February 13. The meager 100-piece mintage makes the 1875 Liberty eagle the lowest mintage regular-issue U.S. gold coin and the foremost rarity of the series. PCGS CoinFacts estimates only eight or nine examples are extant in all grades, but that figure may be a little low. There was little numismatic interest in high denomination gold coins at the time, so no high-quality examples were saved by contemporary collectors. The few numismatists who did collect large denomination gold coins simply ordered one of the 20 proof examples struck that year to update their collections. As a result, no Mint State coins are known, or even rumored, today. Most examples seen are in the XF-AU grade range, and some of the coins that have been certified are actually impaired proofs. The roster below includes 11 specimens known to us, including one example in the National Numismatic Collection at the Smithsonian Institution.

The present coin is an attractive AU53 PCGS example which we believe may be tied for second-finest known (the AU55 coin in the NGC Census is actually a circulated proof and we believe the other AU53 specimen in the PCGS Population Report is a prior submission of the AU53+ example in their listings). Although the 1875 eagle has been something of a sleeper in the past, collectors are beginning to appreciate the rarity and historic appeal of this issue in recent times. The prices realized record for the issue belongs to the AU50 NGC (now AU50 PCGS) example in the Admiral Collection (Heritage, 2/2018), where it brought $372,000. The AU53+ PCGS example in Stack's Bowers 2011 ANA Auction realized almost as much, as it sold for $345,000. Clearly, collectors have become more aware of the elusive nature and potential value of this classic gold rarity.

This coin exhibits only light wear on the strongly impressed design elements, with much interior detail still intact on Liberty's hair and the eagle's feathers. Like all examples seen, the pleasing orange-gold surfaces show a number of minor abrasions and some chatter in the fields, but most of the marks are unobtrusive and none are overly distracting. An interesting arrow-shaped strike-through is evident at star 1. This identical strike through shows on the Christopher Bentley specimen, number 5 in the roster below, indicating the coins must have been struck one right after the other. Traces of original mint luster remain intact in sheltered areas, mixed with flashes of prooflike reflectivity around the margins. The overall presentation is most attractive. This coin will be a welcome addition to the finest collection or Registry Set. Housed in a green label holder.

Roster of 1875 Liberty Eagles
1. AU53+ PCGS. Margene Heathgate Collection (Superior 6/1997), lot 1541(as AU53 PCGS); Atlanta Signature (Heritage, 8/2001), lot 7904 (as AU53 NGC); ANA Auction (Stack's Bowers, 8/2011), lot 7732 (as AU53+ PCGS), realized $345,000.
2. AU53 PCGS. James and Margaret Carter Collection (Stack's, 1/1986), lot 270; Public Auction Sale (Stack's, 10/1988), lot 126; ANA Signature (Heritage, 7/1997), lot 5510. The present coin.
3. AU50 PCGS. St. Louis ANA Auction (New England Rare Coin Galleries, 7/1979), lot 313; Admiral Collection (Heritage, 2/2018), lot 4292, realized $372,000; Harvey B. Jacobsen, Jr. Collection; Long Beach Signature (Heritage, 2/2020), lot 3286, realized $360,000.
4. AU50 PCGS. Alto Collection (Stack's, 12/1970), lot 356; Harry W. Bass, Jr.; Bass Collection, Part II (Bowers and Merena, 10/1999), lot 1551; Jeff Garrett; Philadelphia Signature (Heritage, 8/2000), lot 7338; Pre-Long Beach Sale (Superior, 5/2001), lot 4139; Internet Only Auction (Heritage, 4/2002), lot 11458; Old Roswell Mill Collection; offered by John Hamrick in April 2008 at $150,000; David Hall (Ellen D Collection); Simpson Collection via Legend Numismatics in May 2011.
5. AU50 PCGS. Four Landmark Collections (Bowers and Merena, 3/1989), lot 700; Long Beach Signature (Heritage, 10/1995), lot 6376; Boys Town and Mamiye Collections (Bowers and Merena, 3/1998), lot 2207; Baltimore Signature (Heritage, 7/2003), lot 10450; Internet Auction (Heritage, 10/2003), lot 14125; FUN Signature (Heritage, 1/2004), lot 2201; Christopher Bentley's Knob Hill Collection (Heritage, 2/2014), lot 4201, realized $211,500.
6. XF40. Possibly Col. E.H.R. Green; Dr. Charles W. Green Collection (B. Max Mehl, 4/1949), lot 547; Davis-Graves Collection (Stack's, 4/1954), lot 955; Edwards Metcalf; Gilhousen Collection, Part I (Superior, 2/1973), lot 712; Jeff Browning; Dallas Bank Collection (Sotheby's-Stack's, 10/2001), lot 474; Douglas Winter Numismatics; Southern California collection.
7. VF35 PCGS. Public Auction (Robert A. Siegel, 11/1984); Mid-American Rare Coins, 5/1992), lot 395; Dr. Jon Kardatzke Collection (Goldberg, 6/2000), lot 1539; FUN Signature (Heritage, 1/2006), lot 3536.
8. VF30 PCGS. Long Beach Signature (Heritage, 6/1997), lot 5548; ANA Signature (Heritage, 8/1998), lot 7771.
9. VF30 PCGS. Cornerstone Sale (Mid-American Rare Coins, 8/1991), lot 758; Long Beach Signature (Heritage, 2/1994), lot 5441; FUN Signature (Heritage, 1/1998), lot 7966; June Auction (Superior, 6/1998), lot 2298.
10. VG. William Cutler Atwater Collection (B. Max Mehl, 6/1946), lot 1453; Amon Carter, Sr.; Amon Carter, Jr.; Amon Carter Collection (Stack's, 1/1984), lot 772; Auction '87 (Superior, 8/1987), lot 1946.
11. XF45. Possibly Jacob Shapiro, a.k.a. J.F. Bell; J.F. Bell Collection (Stack's, 12/1944), lot 639; Clifford T. Weihman; Josiah K. Lilly; Smithsonian Institution.

Additional Appearances
A. Good. John G. Kellogg, et al (Thomas Elder, 10/1916), lot 1339.
B. Extremely Fine, prooflike. Sale 416 (Morgenthau, 6/1940), lot 145.
C. Fine, formerly mounted. R.L. Wilson Sale (Stack's, 10/1959), lot 1111; Golden Sale (Kreisberg-Schulman, 3/1962), lot 2678.
D. G-VG. Jacob Shapiro, a.k.a. J.F. Bell; J.F. Bell Collection (RARCOA, 4/1963), lot 392.
E. Good. Charles Williams; Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1616.
Note 1: The following coin has been graded as a business strike in the past, and still appears in the NGC Census, but it is actually a circulated proof:
AU55 NGC. 1992 GNA Sale (Mid-American Rare Coins, 5/1992), lot 1435; Richmond Collection, Part I (David Lawrence Rare Coins, 7/2004), lot 2102.
Note 2: This coin has been listed in previous rosters, but John Dannreuther notes it is actually an altered date:
XF45. Possibly Louis Eliasberg, Sr.; H.R. Lee Collection (Stack's, 10/1947), lot 1530; James A. Stack; James Stack Collection (Stack's, 3/1995), lot 610.
From The Allan H. Goldman Collection, Part II. (Registry values: N10218)

Coin Index Numbers: (NGC ID# 265A, PCGS# 8672, Greysheet# 9396)

Weight: 16.72 grams

Metal: 90% Gold, 10% Copper

View all of [The Allan H. Goldman Collection, Part II ]

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