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1883-O $10 AU58 NGC....

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Sold on Aug 7, 2014 for:
$82,250.00 Bid Source: Live: Floor bidder
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Description

1883-O Ten Dollar, AU58
800-Coin Mintage, Rare in All Grades
One of the Finest Known of This Major Rarity

1883-O $10 AU58 NGC. The New Orleans mint produced no ten or twenty dollar gold pieces from the time the mint closed at the start of the Civil War until 1879. Curiously, it was the abundance of silver from the Comstock Lode in Nevada that gave impetus to renewal of both silver and gold coin production again. Passage of the Bland-Allison Act, requiring production of enormous silver dollar mintages, was felt even in New Orleans. Silver dollar mintages increased dramatically in the New Orleans facility, but gold coin output was small. It began with a mere 1,500 ten dollar gold pieces in 1879. Output for tens remained below the 10,000-coin level from 1880 through 1882; then the bottom fell out of ten dollar gold production in 1883 in New Orleans and only 800 coins were struck.

Such a low mintage would be significant in any series and from any mint. But gold coins from New Orleans simply were not saved as date-and-mintmark collecting had not yet developed in this country. It was not until 1893 that Augustus Heaton published his landmark work Mint Marks. As a result, the 800 coins struck entered circulation and almost all of them stayed there. The Condition Census for the 1883-O has only two coins in mint condition (both are MS61, possibly the same coin crossed over?) The remainder of the finest coins known are divided among several AU58 and AU55 examples. On this piece, only slight softness is seen on the peripheral stars with strong definition elsewhere. The fields retain significant initial die polish, and the semireflective fields enhance the small abrasions scattered across each side. An identifying, curved mark is located between stars 7 and 8 at the top of the obverse. Probably no more than 40-50 examples have survived in all grades, this is easily one of the finest.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 2668, PCGS# 8701, Greysheet# 9501)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.53oz
Mintage: 800

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Auction Info

2014 August 5, 7 & 9 ANA US Coins Signature Auction - Chicago #1208 (go to Auction Home page)
Auction Dates
August, 2014
5th-9th Tuesday-Saturday
Bids + Registered Phone Bidders: 19
Lot Tracking Activity: N/A
Page Views: 1,533

Buyer's Premium per Lot:
17.5% of the successful bid per lot.

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Sold on Aug 7, 2014 for: $82,250.00
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