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

670 1858 AU-53 (PCGS). Rich medium gold with rose highlights and lustre on the devices and legends. Short digs at back of Liberty’s curl and in field above eagle are noted. A very appealing specimen of this classic American rarity. Akers estimates that fewer than 30 specimens survive while Breen cites "Possibly 12-15 survive," most of which are below EF. This piece is among the finest known; a single Mint State specimen has been certified by PCGS (offered in our sale of the Lindesmith Collection, April 2000, Lot 2443) as MS-64. This is the only example of the date and mint in the Bass Collection. Popular as the "key" to the Liberty Head eagle series, the 1858 eagle always attracts frenzied interest when it crosses the block.

PCGS Population: 3, 2 finer (MS-64 finest).

Detached curls at neck from lapping. Crack from right rim to wing tip.

It is interesting to note that the Chapmans’ 1890 offering of the Cleneay Collection, one of the most complete offerings of United States gold coins ever sold, did not include an example of the 1858 eagle.

Purchased from William Donner on July 1, 1968.

Lustrous 1858-O $10

Rare in Mint State

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671 1858-O MS-62 (PCGS). Lustrous mottled light yellow reflective surfaces. Some planchet striations and a planchet chip near star 3. Among the finest known extant specimens of the 20,000 eagles struck in New Orleans this year. Well struck for the issue, though some weakness is visible on star 1. A very pleasant and high-grade example.

PCGS Population: 3, none finer.

Spot of die rust below left serif of E in LIBERTY and another above right edge of B. Spur from point of star 13 toward bust. No recutting visible in date. Curved crack from right rim to wing tip.

Purchased from the Goliad Corporation on December 13, 1985.

672 1858-O Net EF-40; sharpness of AU-50, but hairlined from being cleaned long ago. Light yellow gold with patches of reflective lustre in protected areas. Tiny rim nick over E of STATES. Still retains good eye appeal and would be at home in a set of eagles or as a New Orleans representative of the No Motto type.

Same dies as preceding lot, but early die state, with repunching still visible in the second 8 of date. No crack at wing tip.

From Lester Merkin’s sale of March 1969, Lot 435.

Scarce and Popular 1858-S $10

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673 1858-S EF-45. Light yellow gold and steel with much remaining original lustre. Thin scratch near tip of coronet. The 1858-S rivals the 1858 Philadelphia eagle in terms of rarity, especially in higher grades as only 11,800 were struck. Unknown in Mint State, anything above VF is unusual. None were aboard the S.S. Central America. A choice lightly circulated specimen of this San Francisco Mint rarity and worthy of a premium bid.

Die rust at rim near star 1. NI joined. Die rust at wing tips. Thin crack from rim to base of N in TEN. Mintmark high and bold centered over gap between E and N; thin crack divides upper curve.

From Paramount’s sale of August 1969, Lot 2107.

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674 1859 AU-50. Medium yellow gold with coppery highlights. Shallow digs near star 2, another near olive branch. A key date in the eagle series with only 16,013 pieces struck. Rarely seen in grades higher than this, VF is typical for the date. A nice lightly circulated example of this rarity.

Die rust near stars 1, 3, and 4. Parallel vertical lapping lines around eagle.

Purchased from Jack L. Klausen on April 19, 1969.

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675 1859 EF-45. Medium yellow gold with reflective lustrous residue in protected regions. A dig below E of UNITED is noted for accuracy. Very appealing for the grade. An above average specimen of this scarce issue.

From the same dies as the preceding lot.

Purchased from Stanley Kesselman on April 28, 1967.

Magnificent 1860 Eagle

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676 1860 MS-64 (PCGS). Gorgeous satiny medium yellow gold with full unbroken lustre. A superb attractive specimen of one of the scarcest No Motto eagles from the Philadelphia Mint. 15,055 were struck; perhaps a half a dozen survivors are truly Mint State. The present specimen is tied for finest certified by PCGS and rivals the excellent example offered in our sale of Part II of the Bass Collection in October 1999. Beautiful and original, worthy of placement in the finest cabinet. One of the nicest No Motto eagles in the Bass Collection.

PCGS Population: 4, none finer.

Lapping line connects TE of UNITED at base. Another joins TE of TEN at base. Tiny curled struck-through visible at left serif of E in LIBERTY, perhaps a fiber from a cloth used to polish the dies before this specimen was struck.

From Abe Kosoff’s sale of August 1968 at the ANA Convention, Lot 1015.

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677 1860 Net EF-45; sharpness of AU-50, obverse gouge over head. Lustrous reflective light yellow gold with rose highlights. Scarce this sharp and quite attractive.

Top of first T in STATES lapped away. TEN D. shows repunching. No cracks noted.

Purchased from Jack L. Klausen on December 13, 1968.

Impressive 1860-O Eagle

Extremely Rare in Mint State

Amazing!

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678 1860-O MS-62 (PCGS). Lustrous prooflike light yellow gold. Nicely struck for the issue with frosty devices against reflective fields. Some mint-made planchet imperfections manifest as depressions in left field and below bust on the obverse. Only 11,000 pieces were struck of this issue, the last produced at the New Orleans Mint until 1879. Very few remain in Mint State, less than five certainly and perhaps even fewer. Rare in all grades, so when an Uncirculated specimen comes up for bid specialists realize their next opportunity at such a coin may be many years in the future. This is the only Mint State 1860-O $10 certified by PCGS.

PCGS Population: 1, none finer.

Die rust around T in LIBERTY. Thin crack from left rim to wing tip. This reverse was previously used on 1858-O issues, as noted by Breen, though the shield now shows significant central die rust.

From Stack’s sale of the Gaston DiBello Collection, May 1970, Lot 1070.

Marvelous 1861 Eagle

Possible Finest Known

One of the Finest No Motto Eagles Extant

Wow!

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679 1861 MS-66 (PCGS). Bright medium yellow gold with immaculate satiny surfaces. Fully original unbroken lustre. Very sharply struck with all details present; even parallel die finish lines are struck up. A tiny nick on lower jaw of Liberty may be used to identify this specimen in the future. An amazing example of the issue, from one of the largest mintages at 113,164 pieces. Breen notes that the 1861 Philadelphia eagle was "mostly made from melted 1849-54 gold dollars." This coin has few equals among the type, as PCGS has certified only one other specimen (an 1848-O) at this lofty grade. This presents an exciting opportunity for the gold specialist or for the type collector who desires the absolute finest. No combination of luck and money can guarantee a prospective bidder another chance to purchase a No Motto eagle of this calibre in his or her lifetime.

High-grade circulation strike eagles of this era are so rare that building a consistent collection in even the AU level has never been done! Cabinets filled with glittering gem Mint State and Proof Morgan dollars, yes. Full runs of Mint State 20th century Indian Head $10 pieces 1907-1933. Yes. Complete collections of Mint State 1907-1932 $20 pieces. Yes. Complete set of 1838-1866 No-Motto $10 pieces in at least AU grade? No! A coin such as this is wonderful, and its next owner will enjoy it for a long time.

PCGS Population: 1, none finer.

Die chip in hair over ear. Lapping lines from right eagle’s wing.

From Stack’s sale of the DiBello Collection, May 1970, Lot 1072.

1861-S $10 Rarity

Ex. William Cutler Atwater

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680 1861-S Net EF-40; sharpness of AU-50, cleaned. Lustrous medium yellow with coppery highlights. Sharply struck. Hairlines present from cleaning. Only 15,500 pieces were struck; no specimens are known in Mint State and the average specimen barely exceeds VF. This piece retains good eye appeal and lustre; worth a significant bid.

Star 1 joined to rim by die rust; two thin cracks from the points to field. Die rust at stars 4, 5, and 7. Thin crack from rim to N in UNITED, another to first T in STATES is all but invisible. Mintmark large, left serif lines up with upright of N.

Purchased from Stanley Kesselman on January 18, 1970. Earlier from B. Max Mehl’s sale of the William Cutler Atwater Collection, Lot 1559.

Extraordinary 1862 Eagle

Only Mint State Specimen Graded by PCGS

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681 1862 MS-62 (PCGS). Lustrous reflective medium yellow gold with violet and copper highlights. Fully struck and semi-prooflike. A splash of darker color over olive branch. Dig at point of bust over 2 noted for accuracy. Certainly an attractive coin for the grade. 10,960 struck, most in VF and EF grades. Breen calls this issue "prohibitively rare AU." The present piece is fully Uncirculated with untrammeled lustre. Likely beyond improvement for its future owner.

PCGS Population: 1; none finer.

No die imperfections noted, except for a spot of die rust at upper right corner of shield. Early die state.

Purchased from Stanley Kesselman on February 17, 1971.

Scarce 1862-S $10

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682 1862-S EF-45. Even light yellow gold with lustre remaining in recesses. Nice eye appeal for the grade. Tiny dig beneath date. This date is scarce in all grades with no known Uncirculated specimens. Consider this: in this period, the Philadelphia Mint only released eagles to those willing to pay a premium for gold specie. Most were stored in the Treasury and those that were released were likely hoarded shortly after entering commerce, considering the "unpleasantness" concurrently undertaken by the Confederacy. Many were also used in international trade, condemning them to the melting pots of European bankers.

The San Francisco Mint pieces, however, were made available at par and actually circulated. It follows that Philadelphia Mint pieces of this period would thus be more available in higher grade, while most San Francisco issues are unknown in Mint State and very rare in grades over EF. This stated, however, mintages are so low for both Philadelphia and San Francisco issues that pieces in any grade are valued highly. The current offering is very appealing for the grade and would represent the date and mint well for any collector of the No Motto eagles or those who simply appreciate rarity wherever they may find it.

Die rust at points of stars 1, 3, 4, 5, and 7. Spur from rim to first S of STATES. Left serif of large mintmark lines up with right upright of N.

Purchased from Jack L. Klausen, June 19, 1968.

Extraordinary 1863 Eagle

Only 1,218 Struck

Probable Finest Known

Unbelievable!

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683 1863 MS-63 (PCGS). Lustrous rich medium yellow gold with prooflike surfaces and frosty devices against reflective fields. A beautiful specimen. Minor abrasion near star 13. The 1863 eagle circulation strike is one of the great rarities of the eagle series, with somewhere between 8 and 30 pieces known in all grades. As anti-intuitive as it may seem, the Proof specimens of this date actually cross the auction block more frequently than the circulation strikes.

Many great gold collections that tended towards completeness (Eliasberg, Norweb, as well as Cleneay and Atwater from an earlier epoch) have had only Proof representatives of this key date, which may in fact survive in equal quantities to the circulation strikes despite the widely disparate mintage figures for the issues. The presently offered specimen is the only Mint State specimen certified by PCGS and a splendid one at that. One of the highlights of the Bass Collection, and one of the most important No Motto eagles a collector could ever hope to acquire. Once sold, it may be a generation or more before this opportunity recurs.

PCGS Population: 1; none finer.

One MS-63 is noted in the NGC Census report as well. We believe the MS-63 noted in that report is in fact this coin, as it was described as an NGC MS-63 in the Mid-American sale from which Harry Bass purchased it in 1991.

Obverse die same as the Proof issues. Raised die rust pimple on bottom of bust over left side of 8. Reverse retains die finish lines. Short lapping lines from rim near left wing tip and under TEN D.

From Mid-American’s sale of August 1991, Lot 755.

Incredible Mint State 1863-S $10

A Highlight of the Bass Collection

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684 1863-S MS-61 (PCGS). Rich lustrous medium yellow gold with steel highlights. Fields retain some reflectivity and unbroken lustre. Claims to a higher grade; only a shallow scratch under left wing is noted for accuracy. A supremely appealing example of this San Francisco Mint rarity; only 10,000 were coined with few surviving above VF. Indeed, David Akers relates "When looking for this very rare date, one will have to be satisfied with a well worn example because, to the best of my knowledge, that is all there is. Of the comparatively few specimens I have seen, almost all were Fine or VF."

No specimens of this issue were present in the fantastic S.S. Brother Jonathan treasure in any grade. A phenomenal example of the date and mint, and an opportunity for the collector of the series which is unlikely to repeat itself soon. While we have no way of predicting the future, we would not be at all surprised if this specimen is the only piece that will be available during the lifetime of anyone reading this catalogue.

PCGS Population: 1; none finer.

Heavy die lapping lines visible across neck and at neck curl. Lapping lines at IB of LIBERTY. Stars 5 and 7 almost joined to rim with die rust. Mintmark large and bold, centered over gap between E and N. Remnants of die clashing visible over eagle’s right shoulder and at center of shield.

From Heritage’s sale of October 1995, Lot 6330.

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685 1864 Net AU-50; sharpness of AU-55, but lightly polished long ago, though still retaining nice aesthetic appeal for the assigned grade. Some original prooflike reflectivity remains in the protected areas of the fields. A rare eagle in any grade, though especially so at higher levels. From a scant mintage of just 3,530 circulation strikes.

Die finish lines still apparent around obverse devices and across reverse. Die rust inside right side of shield.

From Abe Kosoff’s ANA Sale, August 1968, Lot 1018. Previously from Stack’s sale of the Lee Collection, October 1947, Lot 1511.

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686 1865 Breen’s "Doubled Die Reverse." AU-50; sharpness slightly finer, but cleaned. Light yellow with reflective prooflike surfaces, more so on the reverse which retains much of its original lustre. Of the 3,980 pieces struck for circulation, no more than a handful exist in grades higher than this coin. This is the "Doubled Die Reverse" variety, though in actuality it seems Breen mistook die ejection doubling for a doubled die. Rare and desirable, especially in this state of preservation.

Breen-6945. Die ejection doubling (also called strike doubling, machine doubling, or shelf doubling) occurs during the striking process as opposed to the hubbing process of an individual die. The easiest way to discern between the two is to examine serifs; split serifs denotes a doubled die, while die ejection doubling is typically flat rather than rounded and shows no division at the serifs.

From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 2190.

Rare 1865-S Eagle

Perfect Date

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687 1865-S Perfect Date. EF-40, cleaned long ago. Attractive medium yellow with light steel blue highlights at the peripheries. A pleasing specimen of this very scarce issue in well above average condition. We note a dig over the date and another smaller nick on the cheek. Despite a mintage of 16,700, this is one of the scarcest San Francisco Mint issues in a decade full of rarities.

Interestingly, the Perfect Date variety seems even scarcer than the Inverted Date variety of this year. Akers notes "I have seen approximately twice as many inverted date specimens as I have normal ones." Although usually "varieties" are highlighted as being scarce, exceptions to the rule (in this case the opposite), exist. The 1865-S Normal Date eagle is unknown in Mint State; this situation was not changed by the discovery of treasure from the S.S. Brother Jonathan. This is one of the finest examples a collector of the series could hope to obtain of this very elusive issue.

Tiny lapping lines visible at truncation of bust. Die rust at left rim at wing tip. Mintmark bold; left serif aligned with right upright of N.

From Stack’s sale of the Robison Collection, February 1979, Lot 698. Earlier from Stack’s sale of the T. Henry Allen Collection, February 1977, Lot 950.

High-Grade 1865-S $10

1865 Over Inverted 186

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688 1865-S 865 Over Inverted 186. AU-50 (PCGS). Lightly polished. Glossy medium yellow gold with peripheral blue highlights. Some vestiges of lustre remain around the devices. An appealing specimen of one of the most interesting gold die varieties. We note a dig under Liberty’s eye for identification. The 1865 over inverted 186 either reveals the use of a three-digit logotype at this time or else only three digits of a four-digit logotype are visible on the inversion. On this particular die the date was first punched upside down, then corrected. An interesting and rare variety, a unique type of error among Liberty Head eagles. The variety is scarce in any and all grades, especially at higher levels. A single Mint State coin was recovered from the wreck of the S.S. Brother Jonathan; a typical specimen grades VF or lower. This piece is one of the best available to the collector-at-large and we expect it to see spirited action when it crosses the block.

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

Breen-6948. Mintmark large and bold; left serif aligned with right upright of N.

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

1866-S No Motto $10

Rare and Popular

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689 1866-S No Motto. AU-58 (PCGS). Lustrous medium yellow gold with darker undertones. Very appealing. A short dig behind eye may be used to identify this specimen in future appearances. Sharply struck and attractive. This is the last issue of the No Motto type, struck before new reverse dies with motto arrived from the die shop at the Philadelphia Mint. Very scarce with under 50 specimens known in all grades, most in VF. This is a candidate for finest known of the issue, as Harry Bass noted on the flip accompanying this coin. A splendid piece, choice for the grade and a prize for the connoisseur.

Lapping lines from rim near star 9. Last digit of date more distant than others. Die rust at each wing tip, more on the right, and below beak. Mintmark over space between E and N.

Purchased from World Wide Coin Investments on October 18, 1973.

Lustrous 1866 $10

The First ‘With Motto" Issue

None Finer Certified

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690 1866 Motto. Doubled Date. AU-58 (PCGS). Lustrous medium yellow gold with reflective fields and frosty devices. An impressive specimen with the overall appearance of a Mint State coin—certainly a "high end" AU-58. Moreover, it is Condition Census, one of the very finest in existence. Not only it is important as a condition rarity, but it is also desirable as the first year to display the IN GOD WE TRUST motto. Only 3,750 were struck and few survive nicer than EF. None have been certified in Mint State by either PCGS or NGC. A collector who seeks an example of the 1866 With Motto eagle would be hard-pressed to find a finer specimen.

PCGS Population: 2; none finer.

Breen-6952, Double Date (as are all of this issue.) Die repunched sharply east and mostly effaced. Lapping at left rim from wing tip. Patch of die rust at lowest arrow feather.

"In God We Trust" was mandated by the Act of March 3, 1865, after significant lobbying by the National Reform Association, a Christian group whose membership ranks included Secretary of the Treasury Salmon P. Chase and Mint Director James Pollock. The present cataloguer (JJK) composed his college thesis on the subject, which perhaps can be distilled into readable form for a future issue of the Rare Coin Review.

Purchased from Stanley Kesselman on November 15, 1968.

Elusive 1867-S Eagle

Finest Certified by PCGS

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691 1867-S AU-55 (PCGS). Rich medium yellow gold with copper and steel highlights. Some remnants of lustre. Good eye appeal. Short dig under eagle’s beak. Only 9,000 eagles were struck at the San Francisco Mint in 1867 and circulated well; none are known today in Mint State. This piece just looks like it has stories to tell; light circulation has imbued rich peripheral toning. Fortunately, its circulation was brief, leaving this as one of the finest specimens known of this scarce emission. Eliasberg had only a VF; your collection could be immeasurably improved with the addition of this rarity.

PCGS Population: 1; none finer.

Short lapping lines from rim at stars 3 and 4. Raised pimple at back of topmost bun curl. Tiny mintmark leans left, over and just right of left upright of N.

From Heritage’s sale of October 1995, Lot 6343.

Notable 1868-S $10

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692 1868-S EF-45. Lustrous light yellow gold. Much mint frost remains with only minor contact marks. Short horizontal dig over TEN. A supremely pleasing specimen with claims to the AU grade. Another in a long string of San Francisco rarities; this one, like so many, is unknown in Mint State. This specimen certainly ranks with the top handful of the original mintage still extant.

Some die finish lines still visible at the periphery of the obverse. Die clash mostly lapped away on the reverse, some vestiges remain under eagle’s beak. Mintmark tiny and high, centered over left serif of N.

Purchased from Stanley Kesselman on April 28, 1967.

Mint State 1869-S $10

Lustrous and Appealing

None Finer Certified

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693 1869-S MS-61 (PCGS). Lustrous medium yellow gold. A very nice coin for the grade. 6,430 were struck; perhaps 50 of those still exist, with most in the VF range. Mint State coins (due to the tiny mintages and the circulation of these San Francisco issues at par) are quite rare today. This specimen is a pleasant exception with its unbroken lustre and sharp strike. A collector could search for years with pockets full of money and not find an acceptable specimen of this rarity. We expect this piece to be fought over by those savvy enough to realize its importance.

PCGS Population: 1; none finer.

Unfinished lapping marks at back base of bust and star 13. Mintmark tiny and high at arrow feather over and just right of left upright of N.

From our sale of the Fairfield Collection, October 1977, Lot 1814.

Superb 1870 Proof Eagle

35 Pieces Struck

A Classic Rarity

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694 1870 Proof-64 (PCGS). Striking contrast with frosted devices and vacuous fields. A splash of darker toning at TE of UNITED identifies this specimen. Proof eagles of this period were offered at the Philadelphia Mint at face value plus a small fee for proofing, though few collectors could afford to pursue the eagle and double eagle denominations. Perhaps a dozen of the original 35 struck remain, and this specimen must certainly rank among the top few. A prize for the connoisseur.

PCGS Population: 3; none finer. This number may include a resubmission or two.

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695 1870 EF-45. Prooflike light yellow gold with much remaining lustre. Short dig near star 7. No Mint State specimens are known to have survived from the original mintage of 3,990; indeed, Akers reports seeing only one at the AU level. This attractive specimen certainly is one of the finer ones extant and is choice for the EF grade level.

Thin die lapping lines visible atop head and under bun. Light die finish visible around eagle as well.

Purchased from Stanley Kesselman on May 21, 1968.

Famous 1870-CC $10 Rarity

First Carson City Eagle

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696 1870-CC Net EF-45; sharpness of AU-50 with a small reverse gouge. Lustrous light yellow gold. Sharply struck and pleasing. This is the first Carson City eagle, a noted rarity with perhaps 30 of the original mintage of 5,908 known in all grades. This coin retains lots of its eye appeal and lustre; it is certainly among the finest known.

The 1870-CC eagle can hold its own with just about any rarity of the era, and can be favorably compared to the much more famous 1870-CC double eagle. We estimate that 30 to 40 1870-CC eagles are known and 30 to 35 1870-CC double eagles—in other words, both are about the same. However, as the double eagle is more prominently recorded in the literature, examples are easier to track.

No doubt if there were a great degree of awareness of this coin in the rare coin community, the present piece would sell for several tens of thousands of dollars. As it is, the realization will be much less—yielding to the knowing buyer a tremendous value, in our opinion. This issue would probably be much more popular if there were more of these around, indeed, its prohibitive rarity has limited general knowledge of its importance within the U.S. gold coin series. Worthy of a liberal bid.

Polish between IN and around S of motto. Mintmark high and small, equidistant from claw and arrow feather.

Purchased from Joe Flynn on December 3, 1973.

Extraordinary 1870-S Eagle

A Bass Collection Landmark

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697 1870-S MS-61 (PCGS). Rich medium yellow gold with copper and steel highlights. Sharply struck and lustrous. This coin may be the finest specimen of the issue extant. 8,000 were struck, perhaps 100 survive in all grades. No more than a few of those exceed the EF level.

David Akers described the 1870-S eagle in 1980: "The 1870-S is not often available in any grade, but when a specimen is offered for sale, it is generally only VF. A few EF specimens are known but I am unaware of any 1870-S that grades as high as AU and nothing close to Uncirculated is even rumored to exist." Two years after he composed those words, this piece appeared on the market for the first time in a generation as part of our sale of the Eliasberg Collection and no finer coin has been auctioned since. An exquisite coin whose unsurpassed quality should make it a centerpiece of even the finest collection of gold coins.

As we catalogue these pieces we cannot help but be impressed with what is at our fingertips. Here at Bowers and Merena Galleries we have had our share—even more than our share—of famous collections, great rarities, and other delicacies over the years. In fact, we are the only auction firm ever to have sold one each of every date and mintmark of United States gold coin from the 1849 $1 to the 1932 $20 (they would have had a 1933 $20 as well, had not Mr. Eliasberg turned his over to the Treasury Department when it was demanded that this be done). Among all these past treasures, the coins from the Bass Collection stand out for their combination of superb quality and also depth. Time and again a major rarity is represented by not one, but two or three pieces. And, if there is just one, chances are excellent that it is Condition Census or the finest known. Harry Bass spent more than three decades putting this collection together, working with an unlimited budget, in an era in which many great collections came to market. It is doubtful if these circumstances will ever be repeated.

PCGS Population: 1; none finer. No other 1870-S eagle has been certified at the Mint State level by PCGS or NGC.

Lapping line from rim near star 10. Another from right side of R in AMERICA. Mintmark high and tiny, repunched north and centered on left upright of N.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 735. Earlier from John H. Clapp and the Chapman brothers.

Elegant 1871 Proof $10 Rarity

A Fantastic Coin

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698 1871 Proof-64 (PCGS). Bright and deeply reflective light gold with heavily frosted devices. A glorious piece from a mintage of only 30 pieces. Some hairlines noted. The 1871 Proof is extremely rare today, even more so than some of its rough contemporaries in Proof; perhaps eight to 10 survive in all grades. Of these extant specimens, the American Numismatic Society and Smithsonian Institution each own one and others may be institutionalized as well. A very rare opportunity for the aesthete.

PCGS Population: 2; 1 finer (MS-65).

In the 19th century only a few people collected Proof gold coins. As always in numismatics, coins cycled through different collections, and after a numismatist tired of the pursuit or passed away, the coins came on the market again, often through auction. There was a problem: there was virtually no aftermarket for Proof $10 and $20 pieces in the 1880s and 1890s! This sounds amazing today, and we give an example or two as verification:

In 1875 in the Col. Mendes I. Cohen Collection, a full gold Proof set of the year 1871, containing the $1, $2.50, $3, $5, $10, and $20, adding up to $41.50 in face value, brought just $46.50, or scarcely a 10% premium. Years later in January 1884 at the sale of the Hon. Heman Ely, a full set brought just $45. At the Cleneay sale held by the Chapman brothers in 1890, a Proof 1871 $10 that had seen some handling brought—would you believe it?—face value.

It can be seen that it was simpler for the owner of a Proof $10 or Proof $20 to spend a coin rather than to consign it to a dealer and pay a commission for its sale. Examples could be expanded upon to great length—we have "captured" almost all 19th century auction offerings of Proof gold coins—but the illustration would not change.

Thus, when considering the availability of gold coins today, first the mintage is noted—in the present instance 30 Proof 1871 $10 coins were said to have been struck. Then there is the distribution, which can never exceed the mintage and was often less. How many were distributed we do not know, but perhaps 15 or 20? From that we have the availability today, which was a still lower figure, for the reason just given—many were spent. It was very difficult for a Proof gold coin to survive, and we can all be grateful that such wonderful cabinets as the Garrett Collection were preserved intact for nearly a century, the same being true of the Childs Collection which we offered last year. Today in 2000, Proof gold coins of the 19th century are where you can find them—one at a time, and not very often.

From Stack’s sale of portions of the Garrett Collection, March 1976.

699 1871-CC EF-40. Even medium yellow gold with lustrous coppery highlights. Minor rim filing noted under careful observation. The reverse retains some reflectivity, very pleasing overall. This second Carson City eagle is a rarity typically found in lower grades. This is a very acceptable specimen of this scarce and popular issue.

Some light die finish lines around eagle and rim. Mintmark high and small, leans down to the right. First C lower over serif of middle flag of E. Second C higher, centered over edge of left serif of N.

Purchased from Stanley Kesselman on October 5, 1967.

Scarce 1871-S $10

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700 1871-S EF-40. Even light yellow gold with coppery highlights and vestiges of lustre. A very pleasing lightly circulated specimen of this scarce issue, with a splash of coppery toning noted between 8 and 7 of date. Tiny rim nick near star 6. The 1871-S eagle is unknown in Mint State; Breen calls it "prohibitively rare over VF." Akers notes that these often appear in even lower grades down to VG. With such heavy circulation on those that survived, it is likely that most were literally "spent to death" (pieces outside a certain tolerance were passable at only their weight and therefore were melted into ingots or recoined). Indeed, this issue is much scarcer than its mintage of 16,500 would indicate. This very appealing piece is a wonderful exception to the rule of heavily worn coins. A prize for the specialist who has patiently waited for a coin finer than VF to become available.

Tiny mintmark at point of arrow feather. Repunched and centered over left upright of N.

Purchased from Stanley Kesselman on June 30, 1967.

Extremely Rare 1872 Eagle

Incredibly Rare

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701 1872 MS-62 (PCGS). Lustrous fully prooflike light yellow gold surfaces with some coppery highlights. A beautiful, fully Uncirculated specimen of this very rare issue. A mark near Liberty’s chin is noted to further identify this specimen. Twenty specimens or so exist in all grades from the 1,620 pieces struck on January 11, 1872. Oddly enough, NGC and PCGS have certified 39 (!) examples combined. One might imagine that such coins are "profit centers" for the grading services, if they keep coming back again and again—little cash cows!

Realistically, the 1872 $10 in this grade is one of the most noteworthy rarities in the present offering, a landmark piece with very few equivalents. The present specimen is fully lustrous with reflective surfaces. A standout in the Bass Collection and sure to command attention even surrounded by similarly outstanding pieces.

PCGS Population: 2; 2 finer (MS-64 finest). This figure almost certain includes at least one resubmission.

Tiny chip in upright of 1 near base. Corner of motto banner disconnected through lapping.

Purchased from Kevin Lipton on August 24, 1978.

Exceptional 1872-CC Eagle

Tied for Finest Graded by PCGS

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702 1872-CC Breen’s "Doubled Die Reverse." AU-55 (PCGS). Attractive light yellow gold. Generous amounts of original lustre remain. Tiny nick noted under Liberty’s nose. This is a beautiful example of one of the rarest issues of the series, one that seldom appears in grades exceeding VF and is unknown in Mint State. 4,600 were struck, most of which entered circulation regionally and remained there until they were redeemed or became heavily circulated. A very important Carson City eagle, one which would be difficult to improve upon.

As we mentioned under Carson City half eagles, the Carson City gold coins of the 1870-1872 era seem to have been circulated primarily locally and regionally, and not exported soon after striking. Today the typical grade seen across the denominations is apt to be VF or EF, only occasionally AU.

PCGS Population: 2; none finer.

Breen-6971. Breen refers to this as a Doubled Die Reverse, but upon careful examination of the die and comparison with the die of Lot 699 (a 1871-CC $10), we have found that this reverse is simply a later state of that 1871-CC reverse die, thus the doubling must be simply die ejection doubling and nothing more.

All numismatists owe a great debt to Walter Breen, who from about 1950 through the 1980s engaged in extensive research. Much information from the National Archives, Mint records, and other sources, some of which had not been tapped before, was brought to light through his excellent writings. Unfortunately Breen interjected quite a few opinions and theories without identifying them as such, with the result that today it is difficult to tell which is which—and some of his work needs to be carefully studied. With Breen’s work as a foundation, a lot of us now know where to look, what paths to follow, and have taken his excellent studies to a new higher level. Today in the year 2000 there are more people interested in Mint procedures, die varieties, and technicalities than ever before—which we view as a very dynamic, healthy sign.

Purchased from John J. Ford, Jr., on April 7, 1975.

Superb 1872-S Eagle

Condition Census

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703 1872-S AU-55. Pleasing medium yellow and orange-gold with superb lustre for the grade. Very original looking and attractive, with only a shallow scratch near Liberty’s temple worthy of mention. A date that is surprisingly difficult to locate despite its mintage of 17,300, especially in grades in excess of EF. The present specimen possesses great eye appeal and is, in short, a very nice and undoubtedly Condition Census example of the issue.

The entire span of Liberty Head eagles from the first year of issue, 1838, up through the mid 1870s constitutes in AU grade one of the most sparsely populated areas of American numismatics. Rarities are the rule, not the exception. Again we mention that the Bass Collection brings to market many pieces which will not likely be offered again any time soon.

Mintmark high and bold near tip of arrow feather, with some recutting or fill visible in lower curl. Centered over left edge of serif of N.

Purchased from William Youngerman on January 6, 1973.

Another Scarce 1872-S $10

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704 1872-S AU-55. Bright light yellow gold with coppery highlights. Some lustre remains in recessed regions. Lightly polished long ago, but still a very pleasing example of this uncommon coin. Well-hidden scratches noted near eagle’s head. Above average and quite nice for this scarce San Francisco issue.

Struck from the same dies as preceding lot.

Purchased from Stanley Kesselman on June 3, 1968.

1873 Close 3 Eagle Rarity

Only 800 Struck

Extraordinary Quality

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705 1873 Close 3. AU-58 (PCGS). Prooflike rich medium yellow gold with copper and steel highlights. Superb lustre on reflective fields contrasts with well struck frosty devices. An absolutely outstanding specimen of this very rare issue. Tiny dig near tip of top arrow point noted for identification. Akers accords only the legendary 1875 greater rarity than the 1873; his estimate of 12 to 15 in existence is probably accurate. Few, if any, surpass this coin’s combination of sharpness and eye appeal.

PCGS Population: 1; 1 finer (MS-60).

Breen claimed circulation strikes and Proofs were from the same set of dies in his monograph United States Eagles 1795-1933; by the publication of his Encyclopedia he had corrected himself, noting that circulation strikes had a lower date logotype than the Proofs.

Purchased from William Donner on October 8, 1968.

Mint State 1873-S Eagle

Possible Finest Known

An Incredible Coin

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706 1873-S MS-61 (PCGS). Lustrous rich orange-yellow gold. Very nice eye appeal and intact cartwheel. A strand of darker toning near star 1 identifies this specimen. Another in a long string of low-mintage San Francisco emissions that rarely appear in states approaching Uncirculated; the present piece is a notable exception. Very rare in all grades, most known are in the VF range. A Condition Census example of the variety, quite possibly the finest available specimen.

PCGS Population: 1, none finer.

Lapping lines from curl to above eye. Tiny pimple at top of cheek below corner of eye. Mintmark high, centered over edge of left serif of N.

From Heritage’s sale of October 1995, Lot 6369.

Stunning Proof 1874 Eagle

One of Only 20 Struck

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707 1874 Proof-64. Medium yellow gold with frosty devices heavily offset from mirrored fields. An exceptional specimen of this rarity. Two pinpoint spots of toning near stars 4 and 8 serve as future identification. Examination of this coin’s surfaces under magnification reveals minute shallow pitting, perhaps the vestiges of an attempted improvement. This process luckily did not damage the coin’s overall eye appeal, which still places it among the top few specimens known.

Perhaps as many as a dozen of these exist, at least two of which are permanently impounded in institutions. Akers: "Rarest Proof $10 after 1878."

A few lapping lines and raised area directly under lowest curl identify this Proof obverse die.

From Superior’s sale of September 1988, Lot 5566.

Superlative 1874 Eagle

Condition Census

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708 1874 MS-64 (PCGS). Lustrous medium yellow gold with olive iridescence. Bright with much original eye appeal. Tiny nick near star 11 noted for accuracy. Though struck in larger quantities than any previous Philadelphia Mint eagle—perhaps due to large redemption of gold dollars and quarter eagles prompted by Congressional inquiry—the 1874 eagle is "extremely rare above EF," according to Breen. Few rival this specimen for sharpness and appeal; fewer still exceed it. A superb specimen that would fit in the finest set of gold coins.

PCGS Population: 14; 2 finer (MS-65).

Thin crack under last S of STATES.

Purchased from New England Rare Coin Galleries, February 1979.

Another Impressive 1874 $10

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709 1874 MS-64 (PCGS). Lustrous medium yellow gold with satiny surfaces. The rival of the previous specimen in sharpness and appeal. Very original looking with a tiny mint-made depression near star 4 noted. Very scarce in Uncirculated grades, especially at higher levels. An unheard of second opportunity to acquire a specimen of this coin in this elusive condition.

PCGS Population: 14; 2 finer (MS-65).

Heavy die clash on reverse unlapped. Tiny clustre of die rust visible in front of ear under curl.

From Stack’s sale of the Bartle Collection, October 26, 1984, Lot 1121.

Prooflike 1874 Eagle

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710 1874 MS-61. Prooflike light yellow gold with superb lustre. Splash of coppery toning in dentils near star 11. Another very attractive specimen of the issue.

From same dies as Lot 708.

Purchased from Stanley Kesselman on June 26, 1970.

Seven Nice AU Eagles

711 Seven eagles grading AU-55: I 1874 I 1879 I 1881 I 1881-S I 1882 I 1885 I 1888-S. Each displays lustrous and attractive surfaces. (Total: 7 pieces)

Amazing 1874-CC Eagle

Possible Finest Known

Ex. Eliasberg and Chapman Brothers

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712 1874-CC MS-63 (PCGS). Lustrous medium yellow gold with frosty devices. Rich in toning and eye appeal. A phenomenal specimen of an issue which, like most from Carson City, usually comes in middle circulated grades. Tiny mint-made planchet chip to right of date. A very thin scratch down bust and a minor abrasion beside date noted for accuracy.

Though the mintage of 1874-CC eagles was large by Carson City standards at 16,767 pieces, this issue is supremely difficult to find in Uncirculated. This is the only specimen on the current PCGS Population Report in Mint State and, as such, is a candidate for finest known. The specialist in the series should realize that this opportunity is unlikely to be repeated soon.

PCGS Population: 1, none finer.

Heavy die polish visible across obverse and reverse. Mintmark leans down and to the left, first C centered over center of left serif of N. Second C centered over left edge of right serif of N.

From our sale of the Louis E. Eliasberg, Sr. Collection, October 1982, Lot 746. Previously from John H. Clapp and the Chapman brothers.

Another Pleasing 1874-CC $10

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713 1874-CC AU-50 (PCGS). Rich orange-yellow gold with much original lustre. A very nice specimen of the issue in a lightly circulated grade. Thin scratch noted at truncation of bust above date. Akers noted EF specimens are "extremely rare" and that he had never seen one over EF; even allowing for some mutation in grading standards since his 1980 publication date, this coin still ranks among the very finest seen by him in his study of the series. A splendid piece which ranks in the Condition Census for the issue.

PCGS Population: 2; 4 finer (MS-63 finest).

Struck from same dies as previous lot.

Purchased from William Donner on August 12, 1969.

Desirable 1874-S Eagle

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714 1874-S EF-45. Pleasing even medium yellow gold with much reflective lustre on the devices. Very original and attractive. Ancient scratch right of date is not distracting. A very scarce issue, especially so in grades exceeding EF. The present offering is above average and richly appealing.

Filled mintmark centered over left edge of left serif of N.

From Lester Merkin’s sale of March 1969, Lot 453.