1911 $10 PR67 NGC. JD-1, Low R.5....

Description

1911 Indian Eagle, PR67
Superb Sandblast Finish Proof
95 Examples Struck

1911 $10 PR67 NGC. JD-1, Low R.5. The American Numismatic Association conducted a survey on proof coinage at the 1910 convention and found the members preferred the Sandblast proof finish of 1908 over the Satin finish used on the 1909-1910 gold proofs. The Philadelphia Mint responded by switching back to the darker Sandblast finish for the 1911 proof issues. Only 95 proof Indian eagles were struck in 1911, with the coins delivered in three batches throughout the year (33 examples on March 28, 37 specimens on May 20, and 25 pieces on December 9). Fortunately for present-day collectors, the issue enjoyed a high survival rate and John Dannreuther estimates 70-80 examples are extant in all grades today. David Akers notes the 1911 issue is the second-most available proof Indian eagle in high grade, after the 1908.

The 1911 gold proofs began appearing at auction at an early date, as evidenced by the partial gold proof set offered in lot 21 of the Charles Conover Collection (B. Max Mehl, 5/1914), "1911 $20, $10, $5. Dull sand blasted finish. Three pieces. Very rare." Conover had been collecting coins for 25-30 years, according to Mehl's introduction to the catalog. He had saved a gold proof set for every year from 1894 to 1913, and had complete sets from several earlier years, as well. The partial gold set in lot 21 brought a strong price of $40. Prices for proof gold have skyrocketed in recent years. The current record price realized for a 1911 proof Indian eagle belongs to the PR67 PCGS example in lot 4382 of the Central States Signature (Heritage, 4/2018), which brought $192,000.

The present coin is a magnificent Superb Gem proof, with the sharply detailed design elements expected of a proof issue. The Sandblast proofs of 1911 are as sharply struck as the Satin finish proofs of the previous two years, but the coarser sandblast texture makes it harder to see some finer details. The mustard-gold surfaces of this piece are virtually flawless and an amber alloy spot on the reverse rim, below the LA in DOLLARS, is the only useful pedigree marker. Overall eye appeal is terrific. This coin should find a home in the finest collection or Registry Set. Census: 9 in 67, 2 finer (11/19).
From The Sakura Collection. (Registry values: N10218)

Coin Index Numbers: (NGC ID# 26YC, PCGS# 8893, GSID# 9779)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.48375oz
Mintage: 95

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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