The Harry W. Bass, Jr. Collection - Part II

Landmark Proof 1861 $10

Fewer Than a Dozen Known


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1481     1861 Proof-64 (PCGS). A simply gorgeous coin, a nice mate to the 1860 Proof offered earlier and of comparable rarity. Although 69 Proofs are reported to have been struck, most were probably unsold. Walter Breen states, "Probably fewer than 10 survive," of which some are impaired and others are institutionalized. Again, we are confronted with an issue, which at this grade level is one of only a handful of specimens in numismatic hands. The piece was a highlight of this section of Harry Bass’ collection, and its new owner will feel equally appreciative.

PCGS Population: 10; none finer.

Date logotype low, about three times closer to the dentils than to the neck truncation. Rather lightly but evenly and satisfactorily impressed into the die.

From Stack’s ANA Sale, August 1976, Lot 3088.

1482     1861 AU-58, or finer. Highly and nearly fully lustrous. A splendid specimen that ranks among the several finest we have ever seen.

Harry Bass in his notes observes that there was a very minute adjustment made to the portrait of Miss Liberty this year, the business strike, as offered here, being slightly different from the Proof of the same year. The differences are not salient.

Date logotype well centered. Lightly but satisfactorily impressed.

Reverse with many die finish lines, indicating that this may have been an early impression.

From our sale of the Armand Champa Collection, May 1972, Lot 352.

1483     1861 AU-50. Much mint lustre is still seen.

Date logotype low, nearly twice as close to the dentils as to the neck truncation above, quite different from the preceding lot. The logotype is fairly deeply impressed into the die, more so toward the end of the date than at the beginning.

On the reverse a few delicate cracks are seen from STATES, clockwise through AME. Another crack, scarcely visible, connects the tops of NITE.

Purchased from N.K.S., February 1, 1972.

Impressive 1861-S $10

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1484     1861-S AU-58. Deep warm gold surfaces. Highly lustrous. Very close to Mint State, as graded by PCGS, but we would have no difficulty calling this MS-60. A slight toning streak is seen on the reverse and is mentioned for accuracy. The strike is deep and bold. Overall, the coin is extremely impressive.

PCGS Population: 2; none finer.

Date logotype low on die, and about three times closer to the dentil than to the truncation above. Deeply punched.

Reverse with large S mintmark (as always) leaning slightly to the left.

From Heritage’s sale of October 1995, Lot 6322.

Another 1861-S $10

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1485     1861-S AU-50 (PCGS). Warm yellow gold. A highly pleasing coin.

PCGS Population: 8; 5 finer (AU-58 finest).

Obverse and reverse dies as preceding.

Purchased from Paramount via Rowe & Brownlee, March 18, 1967.

Final 1861-S $10

1486     1861-S VF-35. Warm yellow gold surfaces. A final example of this issue, a variety that is rare in any and all grades.

Dies as preceding.

Purchased from Stanley Kesselman, June 30, 1967.

Fantastic 1862 Proof $10

About a Dozen Known


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1487     1862 Proof-64 (PCGS). A splendid specimen, indeed fantastic! The surfaces are of warm yellow gold, the devices frosted, and the fields especially deeply dished and mirrorlike. A few marks in front of Miss Liberty’s face keep this out of a significantly higher grade—shall we say Proof-67? A splendid specimen.

The Proof mintage this year was only 35 pieces, but probably fewer than half that number actually found buyers. The best estimates today are that perhaps 10 to 15 pieces are known, most likely 10 to 12. Of these, some are impaired and at least two are comfortably ensconced in institutions (the Smithsonian and the American Numismatic Society). In terms of quality pieces held in numismatic hands, the Proof 1862 ranks in the same elite class as the earlier offered 1860 and 1861. The present specimen, the finest Harry Bass was able to acquire, will draw a wide circle of interest.

PCGS Population: 6; none finer.

Date logotype deeply punched and well centered.

From Stack’s ANA Sale, September 1996, Lot 3089.

Rare Business Strike 1862 $10

Somewhat Prooflike

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1488     1862 AU-55 (PCGS). Warm yellow gold surfaces, prooflike characteristics in protected areas. Quite elusive in high business strike grades. Typically, the condition encountered is VF or EF.

PCGS Population: 8; 3 finer (AU-58 finest).

Date logotype deeply punched and well centered. Very difficult to differentiate from the Proof die (could it have been from the same die?). However, the reverse is not from the Proof die, as there are some minute differences in detail within the shield.

Purchased from Stanley Kesselman, October 5, 1967.

High-Grade 1862-S $10

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1489     1862-S EF-45 (PCGS). Warm yellow gold. A fairly high-grade example of an issue for which Very Fine is par. "A very rare coin in all grades," notes David Akers.

Only 12,500 were minted, for at the time at the San Francisco Mint the $20 was the denomination of choice for treasury shipments, bullion transactions, and exports (discussed at some length in the recent book, The Treasure Ship S.S. Brother Jonathan).

Date logotype deeply entered into the die and well centered.

Reverse with large S nicely centered in the niche created by the eagle feather and branch.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 2269.

Exceedingly Rare Proof 1863 $10

Estimated 8-10 Surviving

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1490     1863 Proof-64 (PCGS). A splendid specimen, virtual perfection save for a couple of toning flecks. Frosty, satiny devices are set against deep mirror fields, highly basined, giving a cameo-like effect to the coin. The 1863 Proof is of exquisite rarity and extreme desirability.

Regarding Proofs, only 30 were struck, with both Walter Breen and David Akers estimating that only eight to 10 survive today. From these we can subtract one each at the Smithsonian Institution and the American Numismatic Society, and also deduct examples that are impaired. We are left with an opportunity of opportunities within the Proof gold series. No matter what the price paid, the new owner will have secured an American numismatic treasure.

It has been our general experience that Proof $10 pieces of the 19th century are rarer than any other denominations of the same era. Thus, the present lineup of glittering Proofs from the Bass Collection will be forever remembered by connoisseurs and students of the series.

PCGS Population: 5; none finer.

Date logotype deeply punched into die and well centered. Small date digits give a nice feeling of balance. Under extreme magnification some curlicue raised die finish lines are seen on the portrait in front of the ear, somewhat reminiscent of the lines on the 1907 Indian coins by Saint-Gaudens, the rare varieties with periods on the reverse. Some scattered raised rust(?) dots are seen here and there on the image.

From Abner Kreisberg’s sale of November 1970, Lot 1846.

Impressive Business Strike 1863 $10

From Proof Obverse Die


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1491     1863 AU-55 (PCGS). Bright yellow gold surfaces, somewhat prooflike. Definitely struck as a business strike, not a Proof, and with many areas of lustre still visible. Die striae are seen, particularly on the reverse, indicative of an early impression.

The business strike mintage amounted to only 1,218 pieces, creating a prime rarity. David Akers suggests that business strikes in any level of preservation are about as rare as Proofs. Walter Breen credits the presently offered specimen, which he calls "Uncirculated," as the finest known to him and "possibly the only Uncirculated." We are thus moved to suggest that while PCGS has graded this AU-55, others have considered it to be Mint State. Grading has been, is presently, and always will be, largely a matter of opinion and we invite anyone to assign their own Uncirculated grade to it, if they wish.

PCGS Population: 3; 1 finer (AU-58).

Struck from the Proof obverse die as used for the preceding piece, as identified by certain markers on the portrait. This particular aspect does not seem to have been published previously, although Harry Bass was aware of it.

The reverse is from a business strike die, not a Proof die, and differs from that used on the Proofs.

The reason for the use of the Proof obverse die seems obvious: only a few were minted, and there seemed to be no need to make up a special die for this purpose. On the other hand, the Proof reverse die used for 1863 $10 pieces was not dated and could be used at any time. Thus, the Proof was not used to make business strikes.

From Stack’s sale of the Miles Collection, October 1968, Lot 668.

Important 1863-S $10

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1492     1863-S AU-53 (PCGS). Warm yellow gold. Highly lustrous, especially in protected areas. A very pleasing coin, and one that is quite rare in this high grade level. "Prohibitively rare EF," notes Walter Breen, while David Akers says essentially the same thing, further noting that almost all that have come to market have been only Fine or Very Fine. We note that the recovery of coins from the S.S. Brother Jonathan yielded not a single specimen of this issue. In an absolute sense a high-grade 1863-S $10 remains an extreme rarity.

PCGS Population: 1; 2 finer (MS-61 finest).

Date positioned farther to the left than on the Philadelphia Mint coins, but still centered between the neck truncation and the dentils. Thorn or prominent line extending from earlobe. The arrangement of stars on this die—a subject not delved into in depth in the present catalogue—is such that stars 1-5 are very close to the dentils, star 6 is distant, star 7 is close, and the remaining stars are distant. Should this aspect be studied at length, no doubt characteristics would vary from issue to issue, from year to year.

From Stack’s sale of September 1968, Lot 396.

Another Rare 1863-S $10

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1493     1863-S Net EF-40; sharpness of EF-45, but lightly cleaned. The coin is quite attractive overall, and will stand on its own alongside just about any other EF-40 coin of its era.

Obverse and reverse dies as preceding.

Purchased from N.K.S., February 23, 1968.

Important 1864 $10 Proof Rarity

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1494     1864 Proof-64 (PCGS). A highly important specimen from the combined aspects of rarity and beauty. Concerning the latter, the devices are satiny and frosty and are set in deeply dished fields that are fully mirrorlike—creating an elegant cameo effect. Surfaces are virtually pristine and, in our estimation, could just as easily be called Proof-65. No matter what number you assign, quality comes to the fore. Here, indeed, is an unforgettable coin!

The mintage figure of 50 pieces represents specimens delivered on February 11, and no doubt produced in advance for possible sale. However, buyers did not materialize, and probably no more than 20 were ever sold. Today it is generally estimated that a dozen or so exist, Breen and Akers both suggesting 12 to 15. From this estimate must be deducted institutionalized pieces as well as impaired coins. Thus, similar to the rare Proofs of the 1860s offered earlier, the coin is one of just a handful of aesthetically pleasing pieces held in private hands.

PCGS Population: 5; 1 finer (Proof-65).

As has been mentioned elsewhere in the catalogue, ordering Proofs was not an easy matter during this era. The Philadelphia Mint would not accept federal greenback notes at par for its own coins, and thus gold could only be purchased at a steep premium (the government kept separate books on gold coins sold at premiums, and later published a list, recently excerpted in the book, The Treasure Ship S.S. Brother Jonathan), or else accepted payment in other gold coins, plus a proofing charge. To obtain other gold coins, a numismatist had to go to a bullion or exchange broker and at that location buy them at a sharp premium in greenbacks. The procedure was anything but simple.

Further, Proof large-denomination gold coins were not extensively popular with numismatists until the 1930s. One need but go to auction catalogues of the 1920s to find Liberty Head Proof coins selling for just a modest amount over face value! Faced with lack of marketability for these coins, many holders of Proofs simply spent them. Finally, when gold coins became popular in an extensive way in the 1930s (a passion growing in intensity in the 1940s and increasing ever since), it was found that Proof gold, never common to begin with, was simply not available—unless you were in the right spot at the right time with the right amount of money. In the modern era, often years will elapse between offerings of 1864 Proof $10 pieces.

Date very high, and nearly twice as close to the neck truncation as to the dentils. Deeply impressed into the die. With large "open" 4 as used on certain other denominations, providing a rather ungainly appearance, but one that is common to all pieces of this denomination. Unlike the Proof of the preceding year, the head of Miss Liberty on the present coin is very carefully finished, with scarcely a notable marker in sight. However, we do note that she has two raised stripes on her earlobe. Several stars at the left show pronounced doubling, but whether this is from the striking process or the die we cannot state without seeing a companion coin. The doubling begins in a significant way on star 3, and continues to star 7.

From Stack’s sale of the DiBello Collection, May 1970, Lot 1075.

Rare 1864 $10

High-Grade Business Strike

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1495     1864 AU-55 (PCGS). Bright yellow gold surfaces. A pleasing specimen. One of the nicest business strikes we have ever handled.

The rarity is accounted for by the low mintage of just 3,530 pieces, of which probably no more than a few dozen can be accounted for today—although no one has kept track. David Akers in his study found more Proofs than business strikes! It takes a truly dedicated numismatist to collect Proofs and business strikes combined in the high-denomination gold series, but this was what Harry Bass did. Anyone following in his footsteps would do well to bid liberally on the present coin.

PCGS Population: 2; 2 finer (MS-61 finest).

Date low, about one and a half times closer to the dentils than to the neck truncation.

From Stack’s sale of the DiBello Collection, May 1970, Lot 1076.

Elusive 1864-S Eagle

Classic Rarity

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1496     1864-S VF-35 (PCGS). Medium yellow gold, somewhat pale. A pleasing example at this grade level of an issue which is recognized as a classic rarity in its field.

Only 2,500 examples were minted. Over the years very few coins have appeared on the market, and many if not most gold specialists lack an example. The S.S. Brother Jonathan provided no example at all. For the eagle specialist this is a highly significant opportunity.

From Stack’s sale of the Bartle Collection, October 1984, Lot 1200.

1865 Proof $10 Rarity

The Eliasberg Coin

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1497     1865 Proof-63 (PCGS). Twenty-five Proofs were struck of this year, but only seven or eight can be accounted for today, including one permanently impounded in the Smithsonian Institution and another held by the American Numismatic Society. At least two others are damaged. Thus, it can be readily seen that the present specimen is one of the most important pieces in this dazzling, indeed unforgettable, lineup of Proof eagles. A generous bid is indicated and deserved.

PCGS Population: 2; 5 finer (Proof-65 finest).

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 722. Earlier from the John H. Clapp Collection; earlier from Wilcox, 1896. In the Eliasberg sale, we called this coin choice Proof, a sentiment which we agree with today. A splendid specimen, excelled by no other we have encountered.

Lustrous 1865 Eagle

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1498     1865 AU-55 (PCGS). Bright yellow gold. Somewhat prooflike. A major rarity in business strike form, one of just 3,980 struck. David Akers suggests that the typically encountered piece is only VF-30! An important opportunity for the connoisseur and specialist.

PCGS Population: 3; 2 finer (MS-63 finest).

Date logotype deeply punched into the die and somewhat low, ever so slightly lower than on the preceding Proof.

From Stack’s sale of the Shapero Collection, October 1971, Lot 1106.

Rare 1865-S $10

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1499     1865-S AU-50 (PCGS). Well struck, brilliant, and somewhat prooflike. A very attractive example of an issue which is not often seen in any grade, much less so at this level. "Prohibitively rare above VF," notes Walter Breen, but here we have an AU! Similarly, David Akers pays high tribute to this coin, noting that he has never seen a specimen crossing the EF grade line.

PCGS Population: 2; none finer.

Date very high and twice as close to the neck truncation as to the dentils. Deeply punched into die.

Reverse with large S mintmark. Walter Breen states that there is doubling, but such is minimal on the present coin and scarcely worthy of notice. Some clash marks from the head of Miss Liberty are seen below the eagle.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 723, there called EF-40. Believed to be the specimen from the Belden Roach Collection (B. Max Mehl, February 1944).

Another Important 1865-S Eagle

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1500     1865-S EF-45 (PCGS). Another specimen of this elusive issue. Bright yellow gold with much lustre remaining. A splendid coin, a rarity.

PCGS Population: 2; 2 finer (AU-50 finest).

Dies and states similar to the preceding.

Purchased from Lester Merkin, June 13, 1967.

1865-S Over Inverted 186

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1501     1865-S 865 over inverted 186. AU-50 (PCGS). Warm yellow gold. A very nice example of this blundered date. The logotype was first punched in an inverted position, the gaffe was recognized, and it was repunched in the correct position. However, under magnification the inverted digits 186 can be seen.

The 1865-S over inverted date is scarce in all grades, but not quite as scarce as the perfect date variety. The nicest known was recovered from the wreck of the S.S. Brother Jonathan, a choice Mint State coin, the buyer being Ronald Gillio, who promptly placed it on exhibit at the museum of numismatic rarities in the Mandalay Bay Resort in Las Vegas—where it has been quite a showpiece and attraction.

A few dozen specimens of this variety have been accounted for, of which this ranks among the finest we have seen. For the $10 specialist this blundered date is, of course, a "must have" variety. And, indeed, its appeal extends far beyond that circle.

PCGS Population: 1; 2 finer (MS-64 finest).

Date logotype deeply punched into die and very high, at least three times closer to the neck truncation than to the dentils. Punched over an earlier inverted logotype entry, as mentioned.

Reverse with large S mintmark.

From Quality Sales Corporation’s auction of November 1970, Lot 1846A.

1866-S Without Motto $10

Early Type of the Year

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1502     1866-S No Motto. AU-53 (PCGS). Rich lustrous gold surfaces. The early style of the issue, made before the motto was adopted. Mintage estimated at only 8,500 pieces, this compared to 11,500 for the later With-Motto style. A classic rarity in the $10 series, and one of the more interesting.

When seen, the 1866-S No Motto is apt to be in VF or, occasionally, EF grade, very rarely AU. The present piece represents a great find for the connoisseur and specialist.

PCGS Population: 1; 1 finer (AU-55).

Obverse date logotype high, nearly twice as close to the neck truncation as to the dentils. Positioned left of center. A tiny die line extending upward from the border past 3 serves as a "marker" which reappears subsequently to identify the same obverse die used with another reverse (With Motto).

The reverse is of the old style, without motto, somewhat anachronistic at San Francisco, as Philadelphia eagles this year were of the With-Motto style. Medium S mintmark. Raised rust spots in the first "white" vertical shield stripe serve to hallmark this die for future reference.

From Lester Merkin’s sale of March 1969, Lot 445.

Impressive Proof 1866 $10

First Year With Motto

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1503     1866 With Motto. Proof-64 (PCGS). Frosty devices are set against a deep mirror background. As is the case with virtually all Proofs of this era, the fields are deeply basined, adding to the cameo effect. While PCGS has suggested this is Proof-64, we would be comfortable with a Proof-65 grade and encourage bids accordingly. Whichever grade you choose, the piece stands tall and proud as one of the finest known of the Proofs still in existence. Only 30 were minted, and of that number it is believed that no more than 10 survive. From the population the institutionalized and impaired coins can be subtracted, yielding perhaps five coins that are in private hands and that have excellent aesthetic appeal.

Beyond the attributes of this piece as a beautiful Proof rarity is its status as the first year with the motto IN GOD WE TRUST. Thus, there is further demand from numismatists desiring to put together a set of the first year of the various designs.

PCGS Population: 2; none finer.

Date logotype far left and slightly high of center, noticeably closer to the neck truncation than to the dentils. Logotype punched deeply into the die.

On the reverse, the motto IN GOD WE TRUST appears for the first time. Upon close examination it is seen that the letters are irregularly distributed. The N (IN) should be tilted slightly to the right to conform with the ribbon, but is not. The U (TRUST) should also be to the right, and the second T is low. These features were in the hub and master die, and are common to all $10 issues of the era. Thus they have not attracted any particular notice—any more than the quite irregularly spaced letters in the word LIBERTY in the headdress on the 1854-1889 $3 has attracted notice or, for that matter, even a mention.

From Rarcoa’s sale of the Kaufman Collection, August 1978, Lot 878.

Elusive Business Strike $10

With Motto

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1504     1866 With Motto. Breen-6952. Doubled Date. AU-55. Lustrous and rich gold surfaces. A splendid specimen that will delight the advanced collector. Quite scarce.

Date doubled, apparently as on all business strikes, designated as Breen-6952. The four-digit date logotype was punched into the working die slightly to the right, then mostly effaced, then punched deeply into its present position. The result is very obvious when viewed under even low magnification. As it is believed that all business strikes have this characteristic, there is no particular premium attached to the curiosity. In the highest notch on star 5 there is a raised arc, possibly from some lint on the master die. This serves as a marker for further study.

Purchased from N.K.S., May 21, 1968.

Scarce 1866-S $10

With Motto

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1505     1866-S With Motto. AU-50 (PCGS). Warm lustrous gold surfaces. Elusive in all grades, "Prohibitively rare in EF," writes Walter Breen. A highly important piece that should attract wide bidding attention.

PCGS Population: 3; 1 finer (AU-58).

Obverse die as used on the 1866-S Without Motto, identified by a tiny die line extending from the dentils past star 3, directed upward.

Reverse with motto IN GOD WE TRUST, this being its first appearance. Very tiny S mintmark, the smallest seen in the series to date. Left side of motto somewhat light in the die, with bottom ribbon incomplete.

Purchased from N.K.S., September 5,1967.

1867 Proof $10 Rarity

Akers: "Only 7 or 8 Known"

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1506     1867 Proof-64 (PCGS). A splendid specimen. Medium yellow gold. Frosted surfaces give a cameo-like effect. Dies basined, but not as deeply as on preceding Proofs.

The Proof mintage is reported as 50 pieces, but something happened along the distribution line, and David Akers estimates that only seven or eight survive, with Walter Breen putting the number ever so slightly higher. Of these, if institutionalized and impaired pieces are deducted we may have a net of, say, just three or four attractive pieces in private hands! The word O-P-P-O-R-T-U-N-I-T-Y comes to the fore, as it does so often in the present sale. Whatever the price paid, the owner will obtain a coin which was the finest Harry Bass could locate and, further, which will forever be an American numismatic treasure.

PCGS Population: 2; none finer.

Date somewhat lightly punched into the die and fairly high. Tiny lump on hair just above ear.

At the American Numismatic Association Convention the well-known Internet service, Collector’s Universe, had a "Stump the Experts" quiz. One of the questions asked was: "Which denomination of gold coins has the fewest gem Proof pieces surviving today?" The answer was the Liberty Head $10 series.

From Stack’s sale of May 1974, Lot 491.

Rare Business Strike 1867 $10

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1507     1867 AU-53 (PCGS). Light yellow gold. A pleasing specimen at this grade level. Only 3,090 business strikes were made, of which the vast majority have disappeared, yielding perhaps a total population in the 50 to 75 range, if indeed that. The present piece is one of the finest we have ever offered.

PCGS Population: 4; 1 finer (AU-55).

Date logotype quite low, about twice as close to the dentils as to the neck truncation. Heavily punched into the die.

On the reverse the left ribbon end is slightly weak, which seems to be the rule, not the exception, for business strikes of this era (and thus is not mentioned here except in passing).

Purchased from William Donner, September 14,1967.

Important 1867-S $10

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1508     1867-S AU-50 (PCGS). Light yellow gold. A highly important date and mint variety, one of relatively few known to exist at the AU level. Indeed, in his survey of auction appearances over a long period of years, the best David Akers was able to find in the literature was EF, and he never saw one even at this level: "Fine and VF specimens are all this date has to offer, and I have not seen one graded a full EF." To be perfectly fair and objective, some inflation has occurred in the grading field, and perhaps a few pieces called EF earlier might be called AU now. In any event, the present AU is certainly very important.

PCGS Population: 3; 3 finer (AU-55 finest).

Date logotype slightly high. Punched into the die at medium depth.

Reverse with tiny S mintmark leaning left, situated below and slightly left of the arrow feather tip.

From Parke-Bernet Galleries’ sale of the McGraw Collection, May 1968, Lot 168.

Gem 1868 Proof Rarity

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1509     1868 Proof-65 (PCGS). A gem specimen of rare beauty and great desirability. Light yellow gold. Frosted devices give a cameo-like effect. The fields are no longer deeply basined as in an earlier era; we mention this now but will discontinue further notations in this regard. Certainly, this is one of the very finest remaining pieces from a Proof population that may only be seven or eight specimens. In a situation similar to that of the 1867 Proof, if one deducts impaired and institutionalized coins, just a handful of aesthetically pleasing specimens exist in private hands. Again, the chance to buy this coin is no doubt more important than the price paid. Harry Bass learned over a long period of years that if he wanted something, he would do well to "reach" for it, never mind current price lists, etc. The day after a given auction, he had the coin in his possession, while all other bidders were still trying to find one—most never achieving success.

PCGS Population: 1; none finer.

Date left of the normal position and slightly high. Logotype punched into the die at medium depth.

From Stack’s sale of May 1974, Lot 492.

1510     1868 EF-40. Light yellow gold. Somewhat prooflike.

Date logotype very high, about 2m times closer to the neck truncation than to the dentils. Deeply punched into die.

Purchased from N.K.S., June 23, 1970.

1868-S $10 Rarity

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1511     1868-S AU-53 (PCGS). Highly lustrous and frosty, of a quality that could no doubt be called AU-55 or AU-58—but, then, resubmissions to grading services help pay their bills and increase the bottom line. Seriously, the present coin is certainly at the very least a "high-end" AU-53 and will certainly delight the purchaser.

The mintage of 1868-S amounted to 13,500 pieces, strictly a utilitarian coinage, as all were placed into circulation, where they became worn quickly. Today, when an 1868-S is found it is usually in VF grade, only rarely EF, and ever so seldom AU.

PCGS Population: 7; 5 finer (AU-58 finest).

Date logotype very high, at least three times closer to the neck truncation than to the dentils. Deeply punched into the die.

Reverse with tiny S mintmark.

Purchased from Lester Merkin, January 24, 1968.

Another Notable 1868-S $10

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1512     1868-S AU-53. Another notable specimen, but not quite as nice as the preceding one, in our opinion. If we were seated in the darkened grading room at PCGS headquarters out in California, we would have called the preceding coin at least AU-55, possibly AU-58, but would stick with the AU-53 grade for the one offered here. However, in absolute terms—consulting the literature—the AU-53 number is very impressive. Again, here is an important opportunity.

Obverse die logotype position similar to or identical to preceding.

Reverse with tiny S mintmark slightly to the left in comparison to the preceding.

Purchased from Stack’s, November 5,1970.

A Final 1868-S $10

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1513     1868-S EF-40. A final specimen of this somewhat scarce variety. Pale yellow gold with some magenta toning in protected areas.

Obverse die similar to or identical to preceding.

Reverse with small S mintmark, similar to preceding regarding position, but die with slightly different markers here and there (most notably within the shield).

From Superior’s sale of January 1973, Lot 694.