Lot 1916
Gem 1902 Totally Proof $10 Gold - A Jewel! PCGS graded Proof 65. During 1902, the Philadelphia Mint on Spring Garden Street produced coins with a full mirror finish, and gleaming rather than frosted devices, including Liberty's cheek. On this wonderful specimen, the fields, devices and glowing yellow-gold color are all superb, there being nothing at all to draw the eye away from the stunning portrayal of freedom captured by both images. A tiny lintmark lies right by star 12, which may serve to identify this specimen in the future, but that is the only "mark" on the glassy surfaces.
PCGS has graded only 4 coins this high, and none higher. In fact, of the original mintage of 113, Breen estimated that only 35-40 survive to represent this date in Proof. We should note that the coin here is a little crooked in the holder, but this tends to happen sometimes. PCGS will remedy this if the new buyer wishes, for a small fee.
Coin booms may come and go, but quality and rarity never go out of style. Here is a coin that possess both quality and rarity in abundance, and one that will always be highly prized by enthusiasts. Encased in an old PCGS holder.
Historical note: The famous "rough rider" Teddy Roosevelt was in the White House for only a few months when this coin was probably made, and he was about to earn the scorn of big business and Wall Street as a "trust buster," even though he was wealthy himself and thought big was best--it just wasn't necessarily in the public's best interests and he wanted to limit monopolies. Was this the politician in him, or did he genuinely possess a concern for the average American? Whatever was the case, 1902 also saw a major labor strike by the United Mine Workers, lasting all summer, because mine owners refused to relent any power over its workers. Coal soared in price--any early instance of inflation in prosperous America. When Roosevelt decided to call in the Army to work the mines, thereby siding with the workers, the infamous J.P. Morgan agreed to negotiate an end to the damaging strike. Roosevelt's popularity greatly increased, and the laboring public had new rights at the end of the fight. None of those workers, though, would ever have the spare resources to obtain or collect a coin such as this--that was for the ultra rich, like Morgan, for whom ten dollars was but a few moments' income. Maybe stingy old J.P. himself once owned this very Proof.
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