Just How Rare Are Gem $10 Gold No Motto Liberty Head Eagles? @ Gold Investment Portal

By Doug Winter – RareGoldCoins.com …… CoinWeek Content material Companion

No Motto Liberty Head eagles had been struck from 1838 by means of 1866. They had been made on the Philadelphia, New Orleans, and San Francisco Mints in portions starting from small to fairly giant. One factor that hyperlinks these points is their rarity in greater grades. There isn’t a such factor as a “widespread date” No Motto eagle in MS63 or MS64, and in correctly graded MS65 and better this sort is exceedingly uncommon.

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On this weblog, we’ll have a look at the the reason why these cash are so uncommon in greater grades and we’ll additionally have a look at the small variety of cash which were graded in MS65 and better on the two main companies.

Earlier than we have a look at particular dates, let’s ponder the the reason why Gems of this sort are so uncommon. For a lot of dates, the solutions are easy: few had been struck and none had been saved, as there have been mainly no collectors saving enterprise strike greater denomination gold in 1866 and earlier. However what a few date just like the 1847-P with a big mintage of 862,258. Why are there no Gem 1847 eagles identified?

The primary purpose is that a big proportion of those cash had been melted and survival charges are typically within the 1% to 2% vary. Secondly, these cash had been shipped unfastened to banks they usually suffered from contact throughout this course of, leaving them closely abraded. Most significantly, there have been no shipwrecks or fluky hoards that, as within the case of quite a few Sort One double eagles of this period, have led to the provision of quite a few cash in MS65 and better.

Now that we’ve got established some primary causes for the rarity of this sort in Gem, let’s look at the small variety of cash which were graded MS65 or above.

This offers us a complete of 11 listings, which is (doubtless) a a lot decrease variety of distinctive cash. Given the truth that tens of thousands and thousands of those cash had been struck, that’s an amazingly low quantity.

Going chronologically, let’s have a look at the 10 No Motto eagles which were graded MS65 or greater:

1839/8 $10.00 PCGS MS61. Pictures courtesy Douglas Winter Numismatics (DWN)

1839/8

This scarce subtype was made solely in 1838 and the primary a part of 1839. There are not any Gems dated 1838, so kind coin specialists needing this design are laser targeted on this problem.

There are as many as 10 or so 1839/Eight eagles identified in Uncirculated. Two are Gems. The primary is now within the DL Hansen Assortment and it holds a document at public sale for any enterprise strike Liberty Head eagle with a gross sales worth of $402,500 USD in its January 2005 look within the fabled Gold Rush Assortment. It grades PCGS/CAC MS66.

The second best is a PCGS/CAC MS65 which was most not too long ago in Oliver Jung’s wonderful kind set. It first surfaced in a February 1998 Superior sale, the place it fetched $253,000 as a uncooked coin.

1842 Massive Date

I’m not 100% certain however I imagine that this was a coin that belonged to the late supplier Ed Milas, who was constructing a high-quality set of $10 Libs again within the late 1980s/early ’90s earlier than he stopped and bought them. I bear in mind this being in a PCGS MS64 holder when he confirmed it to me. I can’t bear in mind what it was priced at ($30,000 involves thoughts) but when I recall appropriately, the coin was distinctive. I handed on it however could be thrilled to purchase it at this time at present market ranges.

1848

I’ve by no means seen this coin however I’ve a hunch it’s the great PCGS/CAC MS64 that introduced $64,625 in Stack’s October 2014 public sale. Whether it is, I don’t take into account it a Gem; only a tremendous high-end MS64/64+.

1848-O

It’s odd to notice that there are extra fairly high-grade examples of this date (MS63 and finer) than some other New Orleans eagle from this period, save for the excessive mintage 1847-O. The best identified is a killer PCGS/CAC MS66 initially from the James Stack Assortment. That is the one best department mint No Motto eagle and it’s presently within the Pogue Assortment. In March 2020, it will likely be provided on the market for the primary time because it was obtained by Brent Pogue in Bowers and Merena’s 2003 ANA public sale.

There’s a second 1848-O, listed within the NGC Census, as an MS65. I’ve by no means seen or heard of this coin and I imagine it’s an incorrect itemizing, or a PCGS MS64 that upgraded.

1850-O $10.00 PCGS MS65, EX ELIASBERG AND CLAPP; NEW ENGLAND COLLECTION

1850-O

This coin, pedigreed to the Eliasberg and Clapp collections, was obtained by me a number of years in the past and bought to the New England Assortment the place it resides within the best assortment of New Orleans gold ever assembled. It grades PCGS/CAC MS65. When this coin bought at public sale in Might 1999, it introduced $100,625 – which was the primary public sale document for a enterprise strike Liberty Head eagle at over $100,000.

1852

Ask any seasoned US gold knowledgeable what the one finest No Motto eagle in existence is and you’re prone to get a unanimous response: the Einstein 1852. This coin was owned by the collector Harry Einstein (the daddy of well-known actor Albert Brooks and a famed comedian in his personal proper) and it first bought round 1985/1986 in a PCGS MS65.

I bear in mind being completely floored by this coin and I’ve nonetheless by no means seen a US gold coin of this period that was so excellent save for a number of gold {dollars} and various SSCA 1857-S double eagles. This coin has gradeflated to MS66 and once more to MS66+, however I feel it totally deserves these accolades and I truly could be stunned if it doesn’t improve to MS67. It final bought in 2008 for $253,000 and it was bought by Brent Pogue.

In March 2020, it goes available on the market once more.

1855

I’ve by no means seen this coin in individual and I’m going to enterprise that it was doubtless a PCGS MS64 that upgraded.

1861 $10.00 NGC MS62 CAC

1861

In November 2000, a PCGS MS66 instance of this date bought at public sale for a really affordable $50,600. For some purpose, I can’t recall having been blown away by this coin. Given the truth that I used to be bidding on the next proportion of the heaps in a single sale than some other public sale I’ve ever attended (besides the Bass II sale in 1999), this Gem from the Bass Assortment hasn’t been provided on the market publicly in 20 years.

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Whenever you examine these cash, you possibly can see how small the variety of bonafide Gems is. I rely seven cash that I’ve seen and may confirm as MS65 or finer; two of which, paradoxically, will come up on the market in a month.

If I had to decide on the one most fascinating No Motto eagle in existence, I would choose the James Stack 1848-O, intently adopted by the Einstein 1852, and the Gold Rush 1839/8.

Would you prefer to personal a Gem No Motto eagle? Contact Doug Winter through e-mail at dwn@ont.com and let’s get your title on a world-class coin’s pedigree!

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About Doug Winter

Doug has spent a lot of his life within the area of numismatics; starting accumulating cash on the age of seven, and by the point he was 10 years previous, shopping for and promoting cash at conventions within the New York Metropolis space.

In 1989, he based Douglas Winter Numismatics, and his agency makes a speciality of shopping for and promoting alternative and uncommon US Gold cash, particularly US gold cash and all department mint materials.

Acknowledged as one of many main specialised numismatic corporations, Doug is an award-winning creator of over a dozen numismatic books and the acknowledged knowledgeable on US Gold. His information and an distinctive eye for correctly graded and unique cash have made him one of the vital revered figures within the numismatic neighborhood and a wanted supplier by collectors and buyers in search of skilled customized service, a choose stock of impeccable high quality and honest and trustworthy pricing. Doug can be a serious purchaser of all US cash and is all the time trying to buy collections each giant and small. He will be reached at (214) 675-9897.

Doug has been a contributor to the Guidebook of United States Cash (also called the “Redbook”) since 1983, Walter Breen’s Encyclopedia of United States and Colonial Cash, Q. David Bowers’ Encyclopedia of United States Silver {Dollars} and Andrew Pollock’s United States Sample and Associated Points

As well as, he has authored 13 books on US Gold cash together with:

Gold Cash of the New Orleans Mint: 1839-1909
Gold Cash of the Carson Metropolis Mint: 1870 – 1893
Gold Cash of the Charlotte Mint: 1838-1861
Gold Cash of the Dahlonega Mint 1838-1861
The US $three Gold Items 1854-1889
Carson Metropolis Gold Coinage 1870-1893: A Rarity and Situation Census Replace
An Insider’s Information to Gathering Sort One Double Eagles
The Connoisseur’s Information to United States Gold Cash
A Collector’s Information To Indian Head Quarter Eagles
The Acadiana Assortment of New Orleans Coinage
Sort Three Double Eagles, 1877-1907: A Numismatic Historical past and Evaluation
Gold Cash of the Dahlonega Mint, 1838-1861: A Numismatic Historical past and Evaluation
Sort Two Double Eagles, 1866-1876: A Numismatic Historical past and Evaluation