1909 $10 PR65 PCGS Secure. CAC....

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$72,000.00 Bid Source: HA.com/Live bidder

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Description

1909 Indian Eagle, PR65
Only 74 Examples Struck
Rarely Seen Finer

1909 $10 PR65 PCGS Secure. CAC. Mintage of proof Indian eagles declined significantly in 1909 to a meager 74 examples (down from 116 pieces the year before). The lower mintage was a reflection of the shrinking collector demand for proofs, brought on by dissatisfaction with the dark matte finish used on proof issues in 1908. In an effort to make the gold proofs more appealing, the Mint modified the finish to produce a satiny, semireflective surface that was called the "Bright" finish by contemporary numismatists, according to Roger W. Burdette (also known as the Roman Gold finish to later collectors). Unfortunately, the new proof format was not enthusiastically received and sales continued to stagnate or drop in following years. Prominent collector William H. Woodin, who would become Secretary of the Treasury in the Franklin D. Roosevelt administration, complained:

"I am surprised at the statement that the dull finish of the gold proof coins was objected to by many collectors. If any collectors objected to this finish it was because they did not understand that the St. Gaudens [sic] designs are not adapted to the production of polished proofs. The present proofs of the St. Gaudens designs and of the Pratt designs are simply rotten. I know of no other word to express it."

Even so, enough proof eagles were distributed in 1909 to make the issue one of the more available dates in today's market, and it is likely that 40-60 specimens survive in all grades.

The present coin is a spectacular Gem, with razor-sharp definition on all design elements and no mentionable distractions. The well-preserved yellow-gold surfaces are much more vibrant than the typical matte proof issue and show bright satiny luster, with highlights of orange and rose. Population: 9 in 65, 4 finer. CAC: 5 in 65, 0 finer (8/17).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 28HF, PCGS# 8891, Greysheet# 9777)

Weight: 16.72 grams

Metal: 90% Gold, 10% 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.

View Certification Details from PCGS