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1876 $10 PR65 Cameo NGC....
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Description
1876 Ten Dollar, PR65 Cameo
Low Total-Mintage Year
1876 $10 PR65 Cameo NGC. Although we cannot be certain, this
example appears to be the Trompeter Collection specimen, handled by
our firm via private purchase and sale a number of years ago. A
catalog for the collection was originally prepared by another
auction firm, but the sale did not take place. In the manuscript
for that sale, this coin was described: "Identifiable by two
lintmarks between first and second stars. Mellow pinkish gold
toning with orange overtones gives the coin a well proportioned
look. Such nice toning is uncommon. It seems to further enhance the
already beautiful cameo appearance." The description mentioned two
lintmarks between stars 1 and 2, and, indeed, this coin has two
lintmarks at that location. No previous pedigree is available for
this example. This example is fully struck with sharply squared
rims and fully defined design elements.Just as the other proof gold coins of this year, the mintage was limited to only 45 coins. Today, approximately 15 examples still survive. Larger denomination gold proofs did not survive in the same numbers as the smaller denomination coins. This is purely a matter of economics, as each coin tied up a substantial amount of money at that time. Ten dollars or 20 dollars was a considerable sum to expend for a single coin at the time, and retaining multiple examples representing various dates was a significant proposition. Cost-of-living calculators available on the Internet tell us that 10 dollars in the year 1913 is equivalent to 200 dollars today. Obviously, 10 dollars in 1876 would be worth even more today. If a collector held some of these gold proofs when falling on economic hard times, the largest denominations would be spent first.
Not only are proof examples of this issue rare, but business strikes are similarly rare. Only 687 examples were coined for circulation, with Mint State survivors virtually unknown. We doubt that even 100 eagles dated 1876 survive in any grade or striking format.
Ex: 2006 ANA (Heritage, 8/2006), lot 5560, where it brought $57,500.
From The Slotkin Family Trust Collection.(Registry values: P4)
Coin Index Numbers: (NGC ID# 28FE, PCGS# 88816)
Weight: 16.72 grams
Metal: 90% Gold, 10% Copper
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
View all of [The Slotkin Family Trust Collection ]
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