1915 $10 PR66 NGC. JD-1, R.5....

Description

1915 Indian Eagle, PR66
Final Proof Issue
Rarest Indian Proof

1915 $10 PR66 NGC. JD-1, R.5. Collector demand for proofs diminished steadily in the 1907-1916 time period, as contemporary numismatists greatly preferred the old brilliant proof finish to the various matte, or sandblast, finishes the Mint tried during that era. Mint personnel believed the basined fields and intricate central devices on the newly designed eagles and double eagles made polishing the dies to produce brilliant proofs impossible. Similarly, the incuse design for the quarter eagle and half eagle introduced in 1908 made those coins unsuitable for the brilliant proof finish. Even the silver Mercury dime, Standing Liberty quarter, and Walking Liberty half dollar were deemed unsuitable for the brilliant finish when they were introduced, as Philadelphia Mint Superintendent Adam Joyce relayed to Mint Director F.J. Von Engelken on October 17, 1916:

"The ground of all these designs is uneven, which makes it impossible to produce proof coins which are distinctive from the regular coins made on the coining presses from new dies, the only difference between the proofs and the regular coins being the sharper edge and design."

As collector enthusiasm for proofs dropped and the onset of World War I distracted the public from collecting in general, the Mint discontinued its commercial proof offerings for gold and silver coins after 1915, and stopped the program entirely after 1916.

Accordingly, only 75 proof Indian eagles were struck in 1915 and the issue is the rarest of the Indian eagle proof series. Even the lower mintage 1914 is seen more often in today's market. This is only the fifth time Heritage has offered a 1915 proof Indian eagle since we began our Auction Archives in 1993. PCGS and NGC have combined to certify 34 examples between them, with an unknown number of resubmissions and crossovers (9/19). John Dannreuther estimates the surviving population at 40-45 examples in all grades.

This spectacular Premium Gem proof exhibits razor-sharp definition on all design elements and the impeccably preserved orange-gold surfaces are virtually flawless. A single amber alloy spot at the junction of the rim and the field, after the final A in AMERICA acts as a useful pedigree marker. Unbroken satiny mint luster plays across all surfaces, adding to the terrific eye appeal. Census: 8 in 66, 2 finer (9/19).
From The Joan Zieg Steinbrenner Collection, Part II. (Registry values: N10218)

Coin Index Numbers: (NGC ID# 28HJ, PCGS# 8897, GSID# 9783)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.48375oz
Mintage: 75

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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