1909-D $10 MS (PCGS# 8863)

2010 January Orlando, FL FUN US Coin Auction #1136

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    2236
  • Grade:
    MS66
  • Price:
    $40,250.00
Lot Description
1909-D $10 MS66 PCGS. Ex: O'Neal. Breen-7109. The 1909-D is one of the scarcer issues among early ten dollar Indians, and is much more challenging than its mintage of 121,540 pieces would seem to indicate. David Akers contends in A Handbook of 20th-Century United States Gold Coins that it is one of the most underrated issues in the series, and is actually one of the rarest in an absolute sense. "Even in MS60 this issue is very rare and in MS63 or MS64 condition, it can be located only with great difficulty," says Akers. In Gem and better condition the 1909-D is extremely rare. PCGS and NGC combined have certified only eight examples in MS65. Another eight coins have earned the Premium Gem level of preservation, and a mere three pieces are classified as MS67. Neither service has certified any specimen finer. Moreover, our records indicate that the '09-D in these higher Mint State grades has appeared in major auction sales fewer than 20 times within the past 15 to 20 years. In his May 1998 catalog of the Thaine Price Collection, Akers writes that a number of 1909-D ten dollar coins that were not previously known to the numismatic community have come onto the market in recent years. He goes on to say that most of these are of minimal Uncirculated quality, with only a few even reaching the Choice level. Walter Breen, in his 1988 Encyclopedia of U.S. and Colonial Coins, identifies two variants of the D mintmark on the 1909. The first variety has a broad D opposite the arrow points, and parallel with the upright of the T in TEN. The second variety has the mintmark below the arrow points. Breen says this was an intentional change in position to give a less cramped effect. According to Breen, the first variety is scarcer in Uncirculated grades than is the second variety. The current MS66 coin has a satiny appearance, and yields pleasing glowing luster and evenly distributed honey-gold color. The design elements are sharply impressed, with resultant excellent definition in t
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