1910-S $10 MS (PCGS# 8867)

FUN07 PN Kutasi Collection

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    Heritage Auctions
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Lot Description
1910-S $10 MS66 PCGS. The 1910-S ten dollar started out with a large mintage of 811,000 pieces. However, unlike many ten and twenty dollar issues, the 1910-S did not sit around in bags in bank vaults. Almost all the production run appears to have been dropped into circulation. The population data shows what specialists have long known: the 1910-S is common in circulated grades, but it is scarce in mint condition. To be more specific, approximately 900 circulated pieces have been certified by PCGS and NGC. Every grade is represented from AU58 all the way down to a pair of Fine 12 coins. The situation changes dramatically when one looks up the grading ladder from MS60 to the finest coins at the MS66 level. There are 657 pieces that have been certified in Uncirculated condition, and lower grade (60-63) coins are always available for a price. But the herd thins out quickly above that level with only 28 pieces graded MS64. Above MS64 only three Gems have been certified and five graded MS66 by both services. The fact that more MS66s have been graded than MS65s does not mean that more examples are actually known than at the Gem level. This is simply a reflection of how many MS66 coins have been submitted in hopes of gaining an MS67 grade (a hope that is yet unrealized). Long before population data was looked to for an indication of scarcity, David Akers wrote in 1988 of the 1910-S: "Despite its high mintage, the 1910-S is a very rare coin in all Mint State grades. Occasionally a specimen in MS-63 or less is available, but it is a highly unusual occurrence when one better than that comes up for sale. In MS-64 condition, the issue is really very rare, and it is my opinion that only about six to eight true gems exist, if that many." The Kutasi coin is recognized by specialists as one of the two finest known 1910-S tens. Its only real rival appears to be the Kruthoffer coin, but to our knowledge that coin has not been seen since 1981. The 1910-S comes in both the satiny and fr
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