1870-S 10C Misplaced Date, F-101, R.3, MS66 PCGS....

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1870-S Seated Dime, F-101, R.3, MS66
The Eliasberg-Bender Coin
One of the Top Two Certified Examples

1870-S 10C Misplaced Date, F-101, R.3, MS66 PCGS. Ex: Eliasberg-Bender. The elusive 1870-S dime was struck by a single die marriage, despite the San Francisco Mint having six fresh die pairs available, according to Mint records. Struck late in the year (in November, 1870), the 1870-S would be scarce in any circumstance by virtue of its low 50,000-piece mintage. The coins circulated along the West Coast, and some -- if not most -- of the production was likely lost to the China trade.

In high grades, the 1870-S is even scarcer than its low mintage suggests -- a coin that is extremely scarce in grades above VF. Augustus G. Heaton noted the 1870-S rarity in his 1893 Mint Marks publication, writing "a small coinage makes it very rare." Two small hoards are thought to be the source of the handful of high Mint State examples. PCGS reports only five coins at the top of its census, the finest being a single MS66+ coin, which is the former Bob R. Simpson and Eugene Gardner example. From a distance, that coin and the present Eliasberg-Bender piece could be twins. Each displays radiant, frosted mint luster and exhibits splendid light-gold toning dappled with a few warm-gray accents that confirm the exceptionally original surfaces on each coin. In essence, these two finest-known examples are visually two peas in a pod.

Heritage has handled both pieces before, and we can understand why Eugene Gardner explained his Ex: Simpson coin was not the former Eliasberg example, although similar in condition and appearance. The Eliasberg coin surfaced at auction as part of Joe Usibelli, Jr.'s extensive collection of 1870 patterns and 1870 regular issue coins from all mints, which we sold in January 2014. Comparing the two census-topping coins, close examination reveals a sharper central strike on the present example, visible most noticeably on Liberty's hair strands and also the strength of IM in DIME. Each coin shows strike weakness at the upper wreath, unavoidable because the reverse die was in its second of three uses on the 1869-S, 1870-S, and 1871-S dimes. The tops of two date digits, an 8 and 7, are misplaced within the dentils below the date, requiring careful examination with a strong loupe.

This is altogether a splendid Premium Gem that boasts light to medium apricot-gold and olive-green toning. A small spot on the N in UNITED identifies the coin as the Eliasberg specimen. As of (11/22), PCGS has awarded the MS66 grade to a mere four examples, with one finer as MS66+. NGC has yet to award an MS66 grade or higher to a single example (11/22).
Ex: William Dickinson Collection (S.H. and H. Chapman, 3/1894), part of lot 484; J.M. Clapp; Clapp Estate to Louis E. Eliasberg, Sr.; Louis E. Eliasberg, Sr. Collection (Bowers and Merena, 5/1996), lot 1190; Usibelli Collection / FUN Signature (Heritage, 1/2014), lot 5198.
From The Bender Family Collection, Part II.

Coin Index Numbers: (Variety PCGS# 538254, Base PCGS# 4652)

Weight: 2.49 grams

Metal: 90% Silver, 10% Copper

View all of [The Bender Family Collection, Part II ]

View Certification Details from PCGS